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Post by Deleted on Apr 22, 2020 19:47:29 GMT
OK, so Company X ceases trading (by agreement with the majority of Directors, as required for form DS01, no need for 76%) 3 months later it's struck off. No doubt that would get challenged with most League football clubs, but that's the process as I understand it. I don't think so Bamber, if you are, as a director, proposing doing something that will most likely affect shareholder value, you need 76%, through an EGM. But the point being Higgs could not have taken the proceeds which may have affected the viability of the company without authorisation. Interestingly Wael can as they own 92%. On that point, with 92% they could force the SC to sell their shares to him at current market value. Or the last rights issue value or purchased value I would if I was him, gets rid of the pests. You had better explain this to the government then, because it's not what's stated on their own website. Future liability or dividends could be affected, yes, but without knowing what the deal is that we were talking about we haven't yet established if shareholders could be making a healthy profit. Where we do agree is with 92% and, as I understand it, 2 Directors, they could very easily get the SC's shares, or, just for a laugh, put the SC in a position where they either have to dilute or hand more money over.
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Post by Deleted on Apr 22, 2020 19:49:32 GMT
I don't know what they've done with the site. Swiss has spoken at length about cultural differences in the way business is done here as opposed to Jordan, whether there's anything in that or not, I have no idea. It was Steve Hamer who first brought up the culture differences between doing business in Jordan as opposed to the UK and I could understand what he meant. I guess if you nag your Mum and Dad enough they eventually give in, let you have what you want and hope for the best. Michael Cunnah and Lee Atkins could see what was happening and disappeared very quickly. We are talking about a man who last November accepted an invitation to sit on a panel of experts discussing how the football business should be run. There is no rational explanation. Talk to Oldie about it Mate, it was him who said that this theory was 'bollox'.
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Post by swissgas on Apr 22, 2020 20:10:14 GMT
It was Steve Hamer who first brought up the culture differences between doing business in Jordan as opposed to the UK and I could understand what he meant. I guess if you nag your Mum and Dad enough they eventually give in, let you have what you want and hope for the best. Michael Cunnah and Lee Atkins could see what was happening and disappeared very quickly. We are talking about a man who last November accepted an invitation to sit on a panel of experts discussing how the football business should be run. There is no rational explanation. Talk to Oldie about it Mate, it was him who said that this theory was 'bollox'. I should think Oldie feels the same way as me about it because we both started going in 1963 and both of us would hate to see it all finish in our lifetime. I can remember posting years ago about the danger of being left behind and how things we used to take for granted, and thought would always be there, disappeared without trace overnight. If it happens to Rovers you can imagine people in the future saying "well it was for the best, they couldn't go on like that, tents for stands and wading through two inches of p*ss". But few of us will be there to tell them how good it once was and how apathy eventually killed it.
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Post by manchestergas on Apr 22, 2020 20:20:06 GMT
There is a rational explanation, Wael likes moving in football circles and being associated with that crowd. I think he is a fan of the game. Whether he is a good chairman of BRFC is another question.
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Post by Deleted on Apr 22, 2020 20:29:01 GMT
Talk to Oldie about it Mate, it was him who said that this theory was 'bollox'. I should think Oldie feels the same way as me about it because we both started going in 1963 and both of us would hate to see it all finish in our lifetime. I can remember posting years ago about the danger of being left behind and how things we used to take for granted, and thought would always be there, disappeared without trace overnight. If it happens to Rovers you can imagine people in the future saying "well it was for the best, they couldn't go on like that, tents for stands and wading through two inches of p*ss". But few of us will be there to tell them how good it once was and how apathy eventually killed it. The difficulty is, as I see it, with 90% being effectively under control of 1 person and debt that we couldn't have imagined 5 years ago, we aren't playing the same game that we were in years gone by. Someone I know once had a conversation with a Director which ended up involving them discussing putting in £100k, at the time that would have covered the losses for a period of months. Based on losing £3m a year, that £100k would cover losses for 12 days. Why do I mention that? It's to frame just how difficult it's going to be to do anything from the terraces with the present management structure and financial position. One more thing, since you are here. Based on your experience, if a business is losing $100,000 a week and is $30,000,000 in debt, unless that business has a big upturn projected and can demonstrate how it's going to achieve that upturn, would you expect investors to come on board and help now or wait a bit...
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Post by swissgas on Apr 22, 2020 20:29:41 GMT
There is a rational explanation, Wael likes moving in football circles and being associated with that crowd. I think he is a fan of the game. Whether he is a good chairman of BRFC is another question. I wonder what the other members of the football circle think of him ? That might be the saddest part of it all.
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Post by swissgas on Apr 22, 2020 20:49:15 GMT
I should think Oldie feels the same way as me about it because we both started going in 1963 and both of us would hate to see it all finish in our lifetime. I can remember posting years ago about the danger of being left behind and how things we used to take for granted, and thought would always be there, disappeared without trace overnight. If it happens to Rovers you can imagine people in the future saying "well it was for the best, they couldn't go on like that, tents for stands and wading through two inches of p*ss". But few of us will be there to tell them how good it once was and how apathy eventually killed it. The difficulty is, as I see it, with 90% being effectively under control of 1 person and debt that we couldn't have imagined 5 years ago, we aren't playing the same game that we were in years gone by. Someone I know once had a conversation with a Director which ended up involving them discussing putting in £100k, at the time that would have covered the losses for a period of months. Based on losing £3m a year, that £100k would cover losses for 12 days. Why do I mention that? It's to frame just how difficult it's going to be to do anything from the terraces with the present management structure and financial position. One more thing, since you are here. Based on your experience, if a business is losing $100,000 a week and is $30,000,000 in debt, unless that business has a big upturn projected and can demonstrate how it's going to achieve that upturn, would you expect investors to come on board and help now or wait a bit... With the South Gloucestershire plan involving the two local businessmen seemingly off the table now I can't see anyone else coming in to help. But as for waiting a bit to pick up the pieces. The pieces may be in the hands of many different people, they may be scattered all over the place, and the Kings horses and Kings men may have bu**ered off to Newton Abbot anyway !
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Post by a more piratey game on Apr 22, 2020 20:51:49 GMT
The difficulty is, as I see it, with 90% being effectively under control of 1 person and debt that we couldn't have imagined 5 years ago, we aren't playing the same game that we were in years gone by. Someone I know once had a conversation with a Director which ended up involving them discussing putting in £100k, at the time that would have covered the losses for a period of months. Based on losing £3m a year, that £100k would cover losses for 12 days. Why do I mention that? It's to frame just how difficult it's going to be to do anything from the terraces with the present management structure and financial position. One more thing, since you are here. Based on your experience, if a business is losing $100,000 a week and is $30,000,000 in debt, unless that business has a big upturn projected and can demonstrate how it's going to achieve that upturn, would you expect investors to come on board and help now or wait a bit... With the South Gloucestershire plan involving the two local businessmen seemingly off the table now I can't see anyone else coming in to help. can you say any more about that swiss?
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Deleted
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Post by Deleted on Apr 22, 2020 21:10:17 GMT
The difficulty is, as I see it, with 90% being effectively under control of 1 person and debt that we couldn't have imagined 5 years ago, we aren't playing the same game that we were in years gone by. Someone I know once had a conversation with a Director which ended up involving them discussing putting in £100k, at the time that would have covered the losses for a period of months. Based on losing £3m a year, that £100k would cover losses for 12 days. Why do I mention that? It's to frame just how difficult it's going to be to do anything from the terraces with the present management structure and financial position. One more thing, since you are here. Based on your experience, if a business is losing $100,000 a week and is $30,000,000 in debt, unless that business has a big upturn projected and can demonstrate how it's going to achieve that upturn, would you expect investors to come on board and help now or wait a bit... With the South Gloucestershire plan involving the two local businessmen seemingly off the table now I can't see anyone else coming in to help. But as for waiting a bit to pick up the pieces. The pieces may be in the hands of many different people, they may be scattered all over the place, and the Kings horses and Kings men may have bu**ered off to Newton Abbot anyway ! Is that you ignoring the lockdown?
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Post by swissgas on Apr 22, 2020 21:10:42 GMT
With the South Gloucestershire plan involving the two local businessmen seemingly off the table now I can't see anyone else coming in to help. can you say any more about that swiss? I'm sure this was discussed a few weeks ago. Back in March two local businessmen were said to be joining the board in a deal linked to a potential stadium site in South Gloucestershire but their appointments apparently fell through at the last minute. From UWE parts I and II right up to this one there is a pattern of stadium deals being put forward and then thwarted but with no real explanation ever given.
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Post by a more piratey game on Apr 22, 2020 21:12:29 GMT
can you say any more about that swiss? I'm sure this was discussed a few weeks ago. Back in March two local businessmen were said to be joining the board in a deal linked to a potential stadium site in South Gloucestershire but their appointments apparently fell through at the last minute. From UWE parts I and II right up to this one there is a pattern of stadium deals being put forward and then thwarted but with no real explanation ever given. ta - the bit that was new to me was the 'deal linked to a potential stadium site in South Glos'
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Post by swissgas on Apr 22, 2020 21:21:20 GMT
With the South Gloucestershire plan involving the two local businessmen seemingly off the table now I can't see anyone else coming in to help. But as for waiting a bit to pick up the pieces. The pieces may be in the hands of many different people, they may be scattered all over the place, and the Kings horses and Kings men may have bu**ered off to Newton Abbot anyway ! Is that you ignoring the lockdown? Does it look like me ? Wrong colour wig for a start.
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Post by droitwichgas on Apr 22, 2020 21:35:15 GMT
I'm sure this was discussed a few weeks ago. Back in March two local businessmen were said to be joining the board in a deal linked to a potential stadium site in South Gloucestershire but their appointments apparently fell through at the last minute. From UWE parts I and II right up to this one there is a pattern of stadium deals being put forward and then thwarted but with no real explanation ever given. ta - the bit that was new to me was the 'deal linked to a potential stadium site in South Glos' That's th first time anybody has mentioned they were linked to a stadium in South Glos! Sam Frost who broke the news about the two businessman was still convinced the FM was on untill he was Furloughed.
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Deleted
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Post by Deleted on Apr 22, 2020 21:59:05 GMT
There is a rational explanation, Wael likes moving in football circles and being associated with that crowd. I think he is a fan of the game. Whether he is a good chairman of BRFC is another question. I wonder what the other members of the football circle think of him ? That might be the saddest part of it all. They probably think "oh look another one of us in big debt".
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Post by a more piratey game on Apr 22, 2020 23:32:57 GMT
ta - the bit that was new to me was the 'deal linked to a potential stadium site in South Glos' That's th first time anybody has mentioned they were linked to a stadium in South Glos! Sam Frost who broke the news about the two businessman was still convinced the FM was on untill he was Furloughed. It might explain the conviction amongst some that all things Fruit are dead?
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eppinggas
Administrator
Ian Alexander
Don't care
Joined: June 2014
Posts: 8,109
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Post by eppinggas on Apr 22, 2020 23:44:08 GMT
That's th first time anybody has mentioned they were linked to a stadium in South Glos! Sam Frost who broke the news about the two businessman was still convinced the FM was on untill he was Furloughed. It might explain the conviction amongst some that all things Fruit are dead? I think I used this in relation to UWE many moons ago... "The FM's not pinin'! The FM's passed on! This stadium project is no more! It has ceased to be! FM's expired and gone to meet 'is maker! FM's a stiff! Bereft of life, FM rests in peace! If you hadn't nailed FM to the perch 'e'd be pushing up the daisies! FM's metabolic processes are now history! The FM's off the twig! The FM's kicked the bucket, the FM's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-STADIUM PROJECT!"
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Post by gastower on Apr 23, 2020 9:22:37 GMT
It might explain the conviction amongst some that all things Fruit are dead? I think I used this in relation to UWE many moons ago... "The FM's not pinin'! The FM's passed on! This stadium project is no more! It has ceased to be! FM's expired and gone to meet 'is maker! FM's a stiff! Bereft of life, FM rests in peace! If you hadn't nailed FM to the perch 'e'd be pushing up the daisies! FM's metabolic processes are now history! The FM's off the twig! The FM's kicked the bucket, the FM's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-STADIUM PROJECT!" And Neville Chamberlin said" peace for our time" ! ( No I am not ITK )
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irishrover
Global Moderator
Joined: June 2014
Posts: 3,372
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Post by irishrover on Apr 23, 2020 15:53:19 GMT
I should think Oldie feels the same way as me about it because we both started going in 1963 and both of us would hate to see it all finish in our lifetime. I can remember posting years ago about the danger of being left behind and how things we used to take for granted, and thought would always be there, disappeared without trace overnight. If it happens to Rovers you can imagine people in the future saying "well it was for the best, they couldn't go on like that, tents for stands and wading through two inches of p*ss". But few of us will be there to tell them how good it once was and how apathy eventually killed it. The difficulty is, as I see it, with 90% being effectively under control of 1 person and debt that we couldn't have imagined 5 years ago, we aren't playing the same game that we were in years gone by. Someone I know once had a conversation with a Director which ended up involving them discussing putting in £100k, at the time that would have covered the losses for a period of months. Based on losing £3m a year, that £100k would cover losses for 12 days. Why do I mention that? It's to frame just how difficult it's going to be to do anything from the terraces with the present management structure and financial position. One more thing, since you are here. Based on your experience, if a business is losing $100,000 a week and is $30,000,000 in debt, unless that business has a big upturn projected and can demonstrate how it's going to achieve that upturn, would you expect investors to come on board and help now or wait a bit... I think this is an important point, and it's also one that undermines the SC's position.
What I think the SC are trying to do (in a very hamfisted way) is to get people to rally around a 'we want our club back' type banner. But the thing they've missed is that the banner had already sailed off on the good ship Higgs years ago. They had the opportunity to increase influence at a time when the money involved still just about allowed organised fan groups some capacity to asert pressure. Instead of that they stood by as willing cheerleaders while Nick Higgs and his board put that possibility permanently beyond their reach. The current regime is a symptom of that not the cause.
There are many issues with the current regime but it was the previous one that changed the nature of the club. Because they were all 'inside' at the time the SC just can't bring themselves to acknowledge that.
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Post by johnmalyckyj on Apr 23, 2020 20:00:09 GMT
The difficulty is, as I see it, with 90% being effectively under control of 1 person and debt that we couldn't have imagined 5 years ago, we aren't playing the same game that we were in years gone by. Someone I know once had a conversation with a Director which ended up involving them discussing putting in £100k, at the time that would have covered the losses for a period of months. Based on losing £3m a year, that £100k would cover losses for 12 days. Why do I mention that? It's to frame just how difficult it's going to be to do anything from the terraces with the present management structure and financial position. One more thing, since you are here. Based on your experience, if a business is losing $100,000 a week and is $30,000,000 in debt, unless that business has a big upturn projected and can demonstrate how it's going to achieve that upturn, would you expect investors to come on board and help now or wait a bit... I think this is an important point, and it's also one that undermines the SC's position.
What I think the SC are trying to do (in a very hamfisted way) is to get people to rally around a 'we want our club back' type banner. But the thing they've missed is that the banner had already sailed off on the good ship Higgs years ago. They had the opportunity to increase influence at a time when the money involved still just about allowed organised fan groups some capacity to asert pressure. Instead of that they stood by as willing cheerleaders while Nick Higgs and his board put that possibility permanently beyond their reach. The current regime is a symptom of that not the cause.
There are many issues with the current regime but it was the previous one that changed the nature of the club. Because they were all 'inside' at the time the SC just can't bring themselves to acknowledge that.
Good grief Irish, I really have to buy you a pint sometime as once again you articulate my exact thoughts on the matter....... Regards John Malyckyj
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Post by a more piratey game on Aug 28, 2020 15:51:14 GMT
with 'real' football fast approaching, is there any update on things BRSC? Tommy off Gascast was hoping for some sort of hustings, I think?
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