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Post by peterparker on Mar 23, 2018 14:03:54 GMT
yes, but you will see Dwane Sports increased the credit facility to £15m in the notes. Not sure what that's got to do with our debts exceeding our assets. although it does at least mean we're now safe until at least June 2018! um, I would suggest it mean Dwane Sports are prepared to loan more than the value of our assets. So over and above what is secured against The Mem for those that were worried the apocalypse was coming
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Post by aghast on Mar 23, 2018 20:23:50 GMT
Not sure what that's got to do with our debts exceeding our assets. although it does at least mean we're now safe until at least June 2018! um, I would suggest it mean Dwane Sports are prepared to loan more than the value of our assets. So over and above what is secured against The Mem for those that were worried the apocalypse was coming OTIB's financial advisors said we'd we be wound up in March when loans exceeeded assets and the owners would do a runner, and I'm sure they can't be wrong. Just one week left for our great club. We should organise a farewell party, or something.
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Post by Deleted on Mar 23, 2018 21:07:47 GMT
They'll never get rid of the gas.
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Post by peterparker on Mar 26, 2018 12:23:08 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet)
resolution of allotment of securities
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Post by Hugo the Elder on Mar 26, 2018 12:27:18 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet) resolution of allotment of securitiesSurprised no one else dug them up.
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Post by Henbury Gas on Mar 26, 2018 12:38:52 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet) resolution of allotment of securitiesSurprised no one else dug them up. The debt must be growing
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Post by baggins on Mar 26, 2018 12:39:05 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet) resolution of allotment of securitiesWe're growing our own veg?
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Post by Deleted on Mar 26, 2018 12:43:47 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet) resolution of allotment of securitiesWe're growing our own veg? You've seen the pitch, yeah?
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Post by baggins on Mar 26, 2018 12:54:31 GMT
We're growing our own veg? You've seen the pitch, yeah? Selling the Mem for allotments should be a piece of water.
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Post by Topper Gas on Mar 26, 2018 13:02:51 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet) resolution of allotment of securities"26 Mar 2018 Resolutions Resolution of allotment of securities This document is being processed and will be available in 5 days."Christ even Companies House are teasing us now! So what does that mean in plain man's English, that the ALQ's intend issuing more shares in the club?
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Post by gasstrictband on Mar 26, 2018 13:04:32 GMT
I posted weeks ago , the head groundsman was going to plant spuds behind each goal.
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Post by Deleted on Mar 26, 2018 13:21:08 GMT
So was just going to have a look at the accounts again and came across this (not uploaded yet) resolution of allotment of securitiesSurprised no one else dug them up. Maybe they asked somebody on gardening leave to oversee this task.
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Post by stuart1974 on Mar 26, 2018 13:34:09 GMT
Could be for a number of reasons, so we will have to see the details when they are made public. My initial thoughts is that it may be linked to the increase in the credit facility to £15m as the Charge (wasn't that about this time last year?) has a specific amount of £10m.
It is a Bank Holiday weekend and nearing financial year end too, so one interesting to see how Companies House treat "5 days". 😳
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Post by gasandrew on Mar 26, 2018 13:43:43 GMT
Could be to do with a resolution that comes up each year at the AGM Extract from resolution 8 at AGM"the Directors be generally and unconditionally authorised to allot shares in the Company, or grant rights to subscribe for or to convert any security into shares in the Company (Rights) up to an aggregate nominal value of £500,000 ordinary shares "
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Post by Deleted on Mar 26, 2018 14:35:38 GMT
Could be to do with a resolution that comes up each year at the AGM Extract from resolution 8 at AGM"the Directors be generally and unconditionally authorised to allot shares in the Company, or grant rights to subscribe for or to convert any security into shares in the Company (Rights) up to an aggregate nominal value of £500,000 ordinary shares " So does this mean the owners may exchange some debt for more shares in the club ?
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Post by peterparker on Mar 26, 2018 14:41:48 GMT
Could be to do with a resolution that comes up each year at the AGM Extract from resolution 8 at AGM"the Directors be generally and unconditionally authorised to allot shares in the Company, or grant rights to subscribe for or to convert any security into shares in the Company (Rights) up to an aggregate nominal value of £500,000 ordinary shares " So does this mean the owners may exchange some debt for more shares in the club ?
obviously the detail hasn't been made available yet, interpretation of the general 'rules' (and I could be wrong as it is a bit above my knowledge/expertise) it is either an issue of shares to be sold, or an issue whereby something will be converted in to equity.
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Post by piratesquarters on Mar 26, 2018 14:43:54 GMT
Are these the ones down Muller Road.
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Post by Topper Gas on Mar 26, 2018 14:55:43 GMT
So does this mean the owners may exchange some debt for more shares in the club ?
obviously the detail hasn't been made available yet, interpretation of the general 'rules' (and I could be wrong as it is a bit above my knowledge/expertise) it is either an issue of shares to be sold, or an issue whereby something will be converted in to equity.
This link seems to sum everything up: www.yourcompanyformations.co.uk/learning-centre/how-to-issue-more-shares-company/
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Post by CheshireGas on Mar 26, 2018 15:57:41 GMT
If it is a new issue of shares then they would have to be offered to existing shareholders as well, as their holding would be diluted if new shares were issued and taken up by the major shareholders.
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Post by Topper Gas on Apr 3, 2018 12:37:44 GMT
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