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Post by chippenhamgas on Nov 28, 2015 13:54:55 GMT
Before the AGM, NH arrived and came straight over to three of us and had a wide ranging discussion and answered all the questions we asked, we did not ask him the questions we had prepared. After the AGM he came up to me and spent about 10 mins answering some more questions, nothing appeared to be off limits. He said:- 1 – The MSP loan is not being repaid in instalments. The interest is being added to the capital sum and will be repaid at the latest by the third quarter day of 2016 which I take to be 29th September 2016. So you work out the total cost, £2.6m @ 1.2% per month over a maximum period of 21 months. He did say that if the sale of The Mem went through earlier it would be repaid immediately and the balance of the sale would be used to build UWE. 2 – The takeover/consortium talks are advanced and going well. I have no idea if the investors NH is talking about is the Consortium that several of us have been talking about. They may be or maybe not separate entities. 3 – As and when the investment/takeover takes place he did say that although he wasn’t sure, he didn’t believe any shares would be available to fans. I find that difficult to accept if true, as it would bar fans from buying shares and attending any AGM. Also, BRSC would have no stake in BRFC. 4 – The funding will be in place, no matter what decision is made by the Appeal Court AND that the stadium will be for 21,700 as originally planned and fully fitted out 5 – He indicated that as and when the talks are successfully concluded, that a start date for building UWE could be between February and June 2016. The first date seems very ambitious, even if an investment/takeover is completed by the end of December 2015. I have said many times, quoting dates is a nonsense as it tends to “bit you on the bum” when the date quoted fails to materialise. 6 – We asked “what if two offers are received and they both met the financial requirements, ie £40+ million in a bank account acceptable to BRFC, would an EGM be called to enable Shareholders to consider both offers and give their views?”. NH said not necessarily. I found this answer amazing, yes NH holds around 54% of the voting shares so will always win in a “card vote”. However does he not owe a duty to all the Shareholders to let them know what has been offered and for them to have their say. NH seems to think not. I think that covers everything else. Some great info here, although i am trying not to let myself get suckered into the optimism that seems from various sources to be coming out of this meeting. What surprises me is how candid higgs was talking to people (obviously knowing anything he said will be going straight on here! Maybe thats what he wants, after all it's unofficial). If we were to win the full 30m from sains in Jan will higgs plough on alone or will we still be pursuing investment from the interested parties?
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Post by bluebeard on Nov 28, 2015 14:01:51 GMT
Wow. So UWE is going to happen come what may? Higgs (and MSP if they are agreeing to interest roll up) seem very, very confident that we will either win the appeal or someone else is going to repay the loan and fund the build.
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Post by Jon the Stripe on Nov 28, 2015 14:01:52 GMT
Some great info here, although i am trying not to let myself get suckered into the optimism that seems from various sources to be coming out of this meeting. What surprises me is how candid higgs was talking to people (obviously knowing anything he said will be going straight on here! Maybe thats what he wants, after all it's unofficial). If we were to win the full 30m from sains in Jan will higgs plough on alone or will we still be pursuing investment from the interested parties? Hi Chips - IF we win the court case it could be worth up to £35 mill inc costs etc!!! but even in that best case scenario (winning) it appears from what i am led to believe The UWE Project could now be well above £50 million to complete so obviously more investment either internal or external will be required - UTG
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Post by chippenhamgas on Nov 28, 2015 14:07:30 GMT
Some great info here, although i am trying not to let myself get suckered into the optimism that seems from various sources to be coming out of this meeting. What surprises me is how candid higgs was talking to people (obviously knowing anything he said will be going straight on here! Maybe thats what he wants, after all it's unofficial). If we were to win the full 30m from sains in Jan will higgs plough on alone or will we still be pursuing investment from the interested parties? Hi Chips - IF we win the court case it could be worth up to £35 mill inc costs etc!!! but even in that best case scenario (winning) it appears from what i am led to believe The UWE Project could now be well above £50 million to complete so obviously more investment either internal or external will be required - UTG I get the feeling that maybe we have more of a chance in January than many think then, and higgs' intention is to stay on but maybe taking more of a backseat after allowing someone else to take a controlling stake rather than a full takeover.
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Post by Jon the Stripe on Nov 28, 2015 14:11:03 GMT
Hi Chips - IF we win the court case it could be worth up to £35 mill inc costs etc!!! but even in that best case scenario (winning) it appears from what i am led to believe The UWE Project could now be well above £50 million to complete so obviously more investment either internal or external will be required - UTG I get the feeling that maybe we have more of a chance in January than many think then, and higgs' intention is to stay on but maybe taking more of a backseat after allowing someone else to take a controlling stake rather than a full takeover. I kinda agree with you - however if i'm honest i think there are a dozen scenarios possible! But i am glad at last there seem to be some scenarios to get the damn thing built! UTG!
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Post by bluebeard on Nov 28, 2015 14:11:54 GMT
Some great info here, although i am trying not to let myself get suckered into the optimism that seems from various sources to be coming out of this meeting. What surprises me is how candid higgs was talking to people (obviously knowing anything he said will be going straight on here! Maybe thats what he wants, after all it's unofficial). If we were to win the full 30m from sains in Jan will higgs plough on alone or will we still be pursuing investment from the interested parties? Hi Chips - IF we win the court case it could be worth up to £35 mill inc costs etc!!! but even in that best case scenario (winning) it appears from what i am led to believe The UWE Project could now be well above £50 million to complete so obviously more investment either internal or external will be required - UTG Well £50m has now been mentioned 3 times on this forum so it must be true. Bit like our debts I suppose, £2.7m plus directors loans is now being rounded up to £10m. Fast forward 10 pages and we will be looking at build costs of £60m and spiralling debts of £20m. If this carries on, we could be eligible for a government bail out as the club going bust would take the entire UK economy down with it.
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Post by chippenhamgas on Nov 28, 2015 14:16:25 GMT
I get the feeling that maybe we have more of a chance in January than many think then, and higgs' intention is to stay on but maybe taking more of a backseat after allowing someone else to take a controlling stake rather than a full takeover. I kinda agree with you - however if i'm honest i think there are a dozen scenarios possible! But i am glad at last there seem to be some scenarios to get the damn thing built! UTG! And we are getting told the truth finally, although if it wasn't for yourself i think we'd all still be in the dark, and the questions on thursday would have been very different. Higgs has a fantastic opportunity now to leave a legacy, he's his own worst enemy at times but at last seems to be at least trying to connect with the fans. After Xmas things could start to move very quickly.
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Post by Jon the Stripe on Nov 28, 2015 14:22:00 GMT
I kinda agree with you - however if i'm honest i think there are a dozen scenarios possible! But i am glad at last there seem to be some scenarios to get the damn thing built! UTG! And we are getting told the truth finally, although if it wasn't for yourself i think we'd all still be in the dark, and the questions on thursday would have been very different. Higgs has a fantastic opportunity now to leave a legacy, he's his own worst enemy at times but at last seems to be at least trying to connect with the fans. After Xmas things could start to move very quickly. Good point (thanks for the kind words too - appreciated) and i'll tell you this if UWE gets built as our new home NH will have been a major part in one of the biggest things Rovers will ever achieve and IF he wins the court case and somehow funds it as well - He should rightly go down as a Gas Legend and i'll happily chip in for a 100ft statue of him outside the gates!!!!
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Post by Severncider on Nov 28, 2015 14:41:48 GMT
I kinda agree with you - however if i'm honest i think there are a dozen scenarios possible! But i am glad at last there seem to be some scenarios to get the damn thing built! UTG! And we are getting told the truth finally, although if it wasn't for yourself i think we'd all still be in the dark, and the questions on thursday would have been very different. Higgs has a fantastic opportunity now to leave a legacy, he's his own worst enemy at times but at last seems to be at least trying to connect with the fans. After Xmas things could start to move very quickly. Chippenham - Some have known more than they can say for some time. Yes, JTS and Gasinsider have been brave in breaking this news and it was easy to "shoot them down" without evidence and of course, none of us could provide that concrete/written evidence.
I have never had a problem with the none believers, they had not been shown any evidence so I respected their viewpoint.
My only problem with NH was that he appeared to say there was not a Consortium, he never actually said that just that he did not "know" their name. I think we can now say there is an individual or group of individuals who have been having discussions with BRFC for some time. My second problem was his assertion that under his Chairmanship, the club are no worse off now than it was on the day he was made Chairman. That is palpably wrong, the debit is now £8.5m+ whereas it was £2m+ when he was made Chairman. NH will say that the only secured outstanding debt is the MSP loan and the rest is money owing to the Directors. Yes that is true, but the "books" show that at June 2014 the debt was £8.5m+.
Still we appear to be moving forward and for that I am grateful.
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Post by chippenhamgas on Nov 28, 2015 14:54:59 GMT
And we are getting told the truth finally, although if it wasn't for yourself i think we'd all still be in the dark, and the questions on thursday would have been very different. Higgs has a fantastic opportunity now to leave a legacy, he's his own worst enemy at times but at last seems to be at least trying to connect with the fans. After Xmas things could start to move very quickly. Chippenham - Some have known more than they can say for some time. Yes, JTS and Gasinsider have been brave in breaking this news and it was easy to "shoot them down" without evidence and of course, none of us could provide that concrete/written evidence.
I have never had a problem with the none believers, they had not been shown any evidence so I respected their viewpoint.
My only problem with NH was that he appeared to say there was not a Consortium, he never actually said that just that he did not "know" their name. I think we can now say there is an individual or group of individuals who have been having discussions with BRFC for some time. My second problem was his assertion that under his Chairmanship, the club are no worse off now than it was on the day he was made Chairman. That is palpably wrong, the debit is now £8.5m+ whereas it was £2m+ when he was made Chairman. NH will say that the only secured outstanding debt is the MSP loan and the rest is money owing to the Directors. Yes that is true, but the "books" show that at June 2014 the debt was £8.5m+.
Still we appear to be moving forward and for that I am grateful.
The financial situation is truly shocking i agree, the MSP position is very concerning if none of this actually comes off, and with the loan due in Sept 16 administration is a genuine concern. A big proportion of the debt accumulated must be stadium related, from the original mem development and uwe which if we get what we want at the end of the day will be considered an investment in our future or if we don't money down the drain. Nick higgs really is in hero or zero territory now, the next two months will shape the next 50 years.
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Post by Severncider on Nov 28, 2015 15:02:30 GMT
Before the AGM, NH arrived and came straight over to three of us and had a wide ranging discussion and answered all the questions we asked, we did not ask him the questions we had prepared. After the AGM he came up to me and spent about 10 mins answering some more questions, nothing appeared to be off limits. He said:- 1 – The MSP loan is not being repaid in instalments. The interest is being added to the capital sum and will be repaid at the latest by the third quarter day of 2016 which I take to be 29th September 2016. So you work out the total cost, £2.6m @ 1.2% per month over a maximum period of 21 months. He did say that if the sale of The Mem went through earlier it would be repaid immediately and the balance of the sale would be used to build UWE. 2 – The takeover/consortium talks are advanced and going well. I have no idea if the investors NH is talking about is the Consortium that several of us have been talking about. They may be or maybe not separate entities. 3 – As and when the investment/takeover takes place he did say that although he wasn’t sure, he didn’t believe any shares would be available to fans. I find that difficult to accept if true, as it would bar fans from buying shares and attending any AGM. Also, BRSC would have no stake in BRFC. 4 – The funding will be in place, no matter what decision is made by the Appeal Court AND that the stadium will be for 21,700 as originally planned and fully fitted out 5 – He indicated that as and when the talks are successfully concluded, that a start date for building UWE could be between February and June 2016. The first date seems very ambitious, even if an investment/takeover is completed by the end of December 2015. I have said many times, quoting dates is a nonsense as it tends to “bit you on the bum” when the date quoted fails to materialise. 6 – We asked “what if two offers are received and they both met the financial requirements, ie £40+ million in a bank account acceptable to BRFC, would an EGM be called to enable Shareholders to consider both offers and give their views?”. NH said not necessarily. I found this answer amazing, yes NH holds around 54% of the voting shares so will always win in a “card vote”. However does he not owe a duty to all the Shareholders to let them know what has been offered and for them to have their say. NH seems to think not. I think that covers everything else. Some great info here, although i am trying not to let myself get suckered into the optimism that seems from various sources to be coming out of this meeting. What surprises me is how candid higgs was talking to people (obviously knowing anything he said will be going straight on here! Maybe thats what he wants, after all it's unofficial). If we were to win the full 30m from sains in Jan will higgs plough on alone or will we still be pursuing investment from the interested parties? Chippenham - I have found NH to be almost as open as DC when you speak to them on a 1 to 1 basis. There were a few others around (3/4)when he made these comments so if he denies them, provided the others confirm his comments I'm happy. The others may not be on social media forums as they are also "old fogies like me".
He did tell us one other thing which he said was confidential and I'll respect that. It has no bearing on any of the above.
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Post by Jon the Stripe on Nov 28, 2015 15:28:57 GMT
Chippenham - Some have known more than they can say for some time. Yes, JTS and Gasinsider have been brave in breaking this news and it was easy to "shoot them down" without evidence and of course, none of us could provide that concrete/written evidence.
I have never had a problem with the none believers, they had not been shown any evidence so I respected their viewpoint.
My only problem with NH was that he appeared to say there was not a Consortium, he never actually said that just that he did not "know" their name. I think we can now say there is an individual or group of individuals who have been having discussions with BRFC for some time. My second problem was his assertion that under his Chairmanship, the club are no worse off now than it was on the day he was made Chairman. That is palpably wrong, the debit is now £8.5m+ whereas it was £2m+ when he was made Chairman. NH will say that the only secured outstanding debt is the MSP loan and the rest is money owing to the Directors. Yes that is true, but the "books" show that at June 2014 the debt was £8.5m+.
Still we appear to be moving forward and for that I am grateful.
The financial situation is truly shocking i agree, the MSP position is very concerning if none of this actually comes off, and with the loan due in Sept 16 administration is a genuine concern. A big proportion of the debt accumulated must be stadium related, from the original mem development and uwe which if we get what we want at the end of the day will be considered an investment in our future or if we don't money down the drain. Nick higgs really is in hero or zero territory now, the next two months will shape the next 50 years. I agree Chips - UWE is fundamental to future progress and as such as you say End Jan/Feb is in my opinion the 'Crossroads' for Bristol Rovers Rovers F C - we could be on the verge of something very special - sadly we could also be in a complete mess if the preferred options go tits up!
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Post by Deleted on Nov 28, 2015 15:46:39 GMT
Some great info here, although i am trying not to let myself get suckered into the optimism that seems from various sources to be coming out of this meeting. What surprises me is how candid higgs was talking to people (obviously knowing anything he said will be going straight on here! Maybe thats what he wants, after all it's unofficial). If we were to win the full 30m from sains in Jan will higgs plough on alone or will we still be pursuing investment from the interested parties? Chippenham - I have found NH to be almost as open as DC when you speak to them on a 1 to 1 basis. There were a few others around (3/4)when he made these comments so if he denies them, provided the others confirm his comments I'm happy. The others may not be on social media forums as they are also "old fogies like me".
He did tell us one other thing which he said was confidential and I'll respect that. It has no bearing on any of the above.
So if he told you then it's not confidential.
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Post by Hugo the Elder on Nov 28, 2015 16:05:23 GMT
Chippenham - I have found NH to be almost as open as DC when you speak to them on a 1 to 1 basis. There were a few others around (3/4)when he made these comments so if he denies them, provided the others confirm his comments I'm happy. The others may not be on social media forums as they are also "old fogies like me".
He did tell us one other thing which he said was confidential and I'll respect that. It has no bearing on any of the above.
So if he told you then it's not confidential. Is anyone else getting watered off with how these things seem to be ok to say to the special few while the rest of us continue to be kept in the dark? If you know something and you have been told you can't tell us, then dont say any thing at all, because all this 'I know but I can't say" is really annoying. (Said as a poster, not a mod!)
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Post by Severncider on Nov 28, 2015 16:09:36 GMT
Chippenham - I have found NH to be almost as open as DC when you speak to them on a 1 to 1 basis. There were a few others around (3/4)when he made these comments so if he denies them, provided the others confirm his comments I'm happy. The others may not be on social media forums as they are also "old fogies like me".
He did tell us one other thing which he said was confidential and I'll respect that. It has no bearing on any of the above.
So if he told you then it's not confidential. Holmes - yes he said it in front of 3/4 people.
If he said it was confidential and did not want it on social media, I'll respect him. He would never speak to me again if I disclosed it.
DC told three of us in the week leading up to the away game at Portsmouth that he was going to drop a "high profile" player that may not go down too well with Gasheads. The three of us decided that he should never have told us and it we released that info that it could give an advantage to Portsmouth as other clubs do read social media for teams they are playing, as Sainsbury said in Court that they had monitored our social media. JJoT was dropped for the match.
Are you saying that you would publish confidential information on BRFC when you had been asked not?
The others, to my knowledge, are not on social media, so they are not going to say anything.
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Post by Deleted on Nov 28, 2015 16:16:26 GMT
So if he told you then it's not confidential. Holmes - yes he said it in front of 3/4 people.
If he said it was confidential and did not want it on social media, I'll respect him. He would never speak to me again if I disclosed it.
DC told three of us in the week leading up to the away game at Portsmouth that he was going to drop a "high profile" player that may not go down too well with Gasheads. The three of us decided that he should never have told us and it we released that info that it could give an advantage to Portsmouth as other clubs do read social media for teams they are playing, as Sainsbury said in Court that they had monitored our social media. JJoT was dropped for the match.
Are you saying that you would publish confidential information on BRFC when you had been asked not?
The others, to my knowledge, are not on social media, so they are not going to say anything.
Why bother mentioning it at all then? You have deliberately been feed crap in the past to pass on so perhaps this is a similar occasion.
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Post by Severncider on Nov 28, 2015 16:16:27 GMT
So if he told you then it's not confidential. Is anyone else getting watered off with how these things seem to be ok to say to the special few while the rest of us continue to be kept in the dark? If you know something and you have been told you can't tell us, then dont say any thing at all, because all this 'I know but I can't say" is really annoying. (Said as a poster, not a mod!) Hugo - get over yourself.
The bottom line is if you do not ask the questions you'll never find anything out.
Would everyone prefer that I had NOT disclosed NH comments when he had a chat with a few people. If you get upset about something he said which he indicated was confidential and I referred too it, I feel sorry for you. It has absolutely nothing to do with "I know something......"
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Post by Severncider on Nov 28, 2015 16:18:47 GMT
Holmes - yes he said it in front of 3/4 people.
If he said it was confidential and did not want it on social media, I'll respect him. He would never speak to me again if I disclosed it.
DC told three of us in the week leading up to the away game at Portsmouth that he was going to drop a "high profile" player that may not go down too well with Gasheads. The three of us decided that he should never have told us and it we released that info that it could give an advantage to Portsmouth as other clubs do read social media for teams they are playing, as Sainsbury said in Court that they had monitored our social media. JJoT was dropped for the match.
Are you saying that you would publish confidential information on BRFC when you had been asked not?
The others, to my knowledge, are not on social media, so they are not going to say anything.
Why bother mentioning it at all then? You have deliberately been feed crap in the past to pass on so perhaps this is a similar occasion. O, we are in a bad mode.
Prey tell me where I have been fed crap? I seem to remember that you have accused JTS, Gasinsider and myself of spouting rubbish about a Consortium/Investor. Did I get upset. No
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Post by Jon the Stripe on Nov 28, 2015 16:22:58 GMT
..... and this thread was going so well
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Post by aghast on Nov 28, 2015 16:26:50 GMT
..... and this thread was going so well You can shut your mouth as well.
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