|
Post by Severncider on Mar 3, 2015 22:30:04 GMT
The Directors admitted at tonight's AGM that the new £2m+ loan is unsustainable over a period of time.
Steps are in hand to make alternative arrangements, but the loan needed to be arranged in a hurry as Barclays Bank were not prepared to extend the loan we had.
|
|
|
Post by Gastroenteritis on Mar 3, 2015 22:43:22 GMT
Don't mean to crawl out my cave, but what loan we on about?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 3, 2015 22:54:23 GMT
Why weren't the directors prepared to cover the money that Barclays had recalled?
|
|
|
Post by swissgas on Mar 3, 2015 22:55:29 GMT
If the contract states that the money Sainsburys pay to buy the Mem can only be used for the construction cost of the UWE Stadium where will the money come from to pay off the 2.7 million MSP Capital loan ?
|
|
|
Post by Antonio Fargas on Mar 3, 2015 23:00:32 GMT
Blimey. Everyone saying the BoD know what they're doing over this. Turns out they really were just desperately casting about for an emergency loan.
What a bunch of Wongas.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 3, 2015 23:05:59 GMT
The Directors admitted at tonight's AGM that the new £2m+ loan is unsustainable over a period of time.
Steps are in hand to make alternative arrangements, but the loan needed to be arranged in a hurry as Barclays Bank were not prepared to extend the loan we had. Thanks for the info Severncider. Anything else of note discussed this evening?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 4, 2015 3:35:00 GMT
Blimey. Everyone saying the BoD know what they're doing over this. Turns out they really were just desperately casting about for an emergency loan. What a bunch of Wongas.
|
|
|
Post by Henbury Gas on Mar 4, 2015 6:38:32 GMT
Blimey. Everyone saying the BoD know what they're doing over this. Turns out they really were just desperately casting about for an emergency loan. What a bunch of Wongas. ... and you have evidence of this ? Just because they have gone with this company does not indicate to me that they did not try other financial streams
|
|
|
Post by newmarketgas on Mar 4, 2015 6:55:29 GMT
Hey, they could not have bothered and we could have gone bust! That would have pleased some people I guess ?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 4, 2015 7:45:22 GMT
Looking more likely with every scrap of information coming out that any compensation we manage to get will pay off bank/directors loans and rag bag Rovers will continue to play at our tin pot Mem. What a exciting prospect that will be!
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 4, 2015 8:27:55 GMT
It sounds like the evening of nodding dogs went as well as could be expected.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 4, 2015 8:33:56 GMT
Hey, they could not have bothered and we could have gone bust! That would have pleased some people I guess ? Or they could be more honest and let stakeholders know why a director resigned and demanded the repayment of his loans, and I presume withdrew his guarantees inherent in the going concern element of last years accounts. By the way the SC, through its shareholding and directorships has a right to that information, legally, and members of the SC have a right to that information, legally. And, the club is potentially bust if directors guarantees are withdrawn, or the Sainsburys contract is declared void. But lets not look at the facts, lets all march by and salute the great leader.
|
|
|
Post by Captain Jayho on Mar 4, 2015 8:36:54 GMT
It sounds like the evening of nodding dogs went as well as could be expected. Sounds like it. What questions did you ask holmes out of interest?
|
|
|
Post by casey12a on Mar 4, 2015 8:37:22 GMT
Blimey. Everyone saying the BoD know what they're doing over this. Turns out they really were just desperately casting about for an emergency loan. What a bunch of Wongas. ... and you have evidence of this ? Just because they have gone with this company does not indicate to me that they did not try other financial streams The evidence is in how appallingly the club has been run in the past 10 years.
|
|
|
Post by Henbury Gas on Mar 4, 2015 8:40:10 GMT
It sounds like the evening of nodding dogs went as well as could be expected. Yes it did thankyou !
|
|
|
Post by Henbury Gas on Mar 4, 2015 8:41:03 GMT
... and you have evidence of this ? Just because they have gone with this company does not indicate to me that they did not try other financial streams The evidence is in how appallingly the club has been run in the past 10 years. circumstantial at best
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 4, 2015 8:45:30 GMT
It sounds like the evening of nodding dogs went as well as could be expected. Sounds like it. What questions did you ask holmes out of interest? Not a shareholder so not allowed in.
|
|
|
Post by Topper Gas on Mar 4, 2015 8:46:05 GMT
... and you have evidence of this ? Just because they have gone with this company does not indicate to me that they did not try other financial streams The evidence is in how appallingly the club has been run in the past 10 years. ...or the fact Sainsbury's have shafted us? Our whole future seems now to rely upon the outcome of May's court case.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 4, 2015 8:46:50 GMT
The evidence is in how appallingly the club has been run in the past 10 years. circumstantial at best Factual in reality
|
|
|
Post by casey12a on Mar 4, 2015 9:07:05 GMT
The evidence is in how appallingly the club has been run in the past 10 years. ...or the fact Sainsbury's have shafted us? Our whole future seems now to rely upon the outcome of May's court case. The debt for the UWE project is around 1 million the remaining millions is soley down to poor financial management.
|
|