Wasps downward spiral... (14 Viewers)

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torchomatic

torchomatic

Well-Known Member
The next payment deadline is tomorrow, isn't it?
 
MalcSB

MalcSB

Well-Known Member
torchomatic said:
The next payment deadline is tomorrow, isn't it?
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It’s not supposedly a payment deadline any more. wasps have said they would be unable to pay and so are putting together an alternative proposal. Bondholders would be really pleased if wasps pulled some master stroke though.
 
Frostie

Frostie

Well-Known Member
I wonder what our old mate Andy Goode thinks about it all?
He always had his finger on the pulse...


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O

oldfiver

Well-Known Member
MalcSB said:
It’s not supposedly a payment deadline any more. wasps have said they would be unable to pay and so are putting together an alternative proposal. Bondholders would be really pleased if wasps pulled some master stroke though.
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Bondholders will continue to receive interest for the period from May 13, 2022, on a half-yearly basis until the date of redemption
 
chiefdave

chiefdave

Well-Known Member
djr8369 said:
uk.advfn.com

ADVFN

uk.advfn.com

Juicy reading today
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Someone with more time and knowledge than me might want to visit the Companies House site. Wasps Holdings have guaranteed repayment of our bond, and sure enough there is a charge registered in favour of US Bank Trustees dated 13/5/15 but there also three other outstanding charges 2 to Richardson and one to Canmango of which Richardson is Director. Perhaps most worrying is that there is a charge in favour of Richardson also dated 13/5/15 and both have a negative pledge. A negative pledge prevents a Company creating an additional charge that would have a higher priority to repayment. But what happens if you have two on the same day? Sculduggery of a high order I fear. Arena Coventry 2006 also guarantee the bonds and there is another charge in favour of EDIT should read Compass Group. Our security may be a lot less secure than we think, and for sure Richardson is not on our side but our competitor when it comes to claiming return of our money from the carcass that was Wasps.
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Will need someone far more knowledgeable on bonds than me but if I had any money tied up in them and I wasn't worried before I certainly would be after reading that.
 
RegTheDonk

RegTheDonk

Well-Known Member
chiefdave said:
The way security was written about in the prospectus always seemed a bit off to me but I assumed it was just going over my head and as I wasn't about to hand them thousands of my own money not an issue.

How would it work in practice? Wasps say we're going to offer you 20p in the £, to pick a random figure, the bondholders say hold on we've got security. They then try and enforce that security and get the lease sold to recover their money, what happens then?
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Im obviously being thick but when SISU said we're up for sale if anyone wants to take on the club and the stadium, would that mean:

someone with clout or who could get a bank to invest, would say to bondholders I can buy the lease if you force the sale, you get your money back. He ends up with the 250 year lease then buys CCFC?

Guess its more involved that that, but would the be the general gist?
 
W

wingy

Well-Known Member
RegTheDonk said:
Im obviously being thick but when SISU said we're up for sale if anyone wants to take on the club and the stadium, would that mean:

someone with clout or who could get a bank to invest, would say to bondholders I can buy the lease if you force the sale, you get your money back. He ends up with the 250 year lease then buys CCFC?

Guess its more involved that that, but would the be the general gist?
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Could be just a tactic to prevent the prospect of this alongside the shutdown of trading the bonds ,but someone on the bondchat site has claimed Richardson has a negative charge over lease superceding those of the bondholders
 
MalcSB

MalcSB

Well-Known Member
RegTheDonk said:
Im obviously being thick but when SISU said we're up for sale if anyone wants to take on the club and the stadium, would that mean:

someone with clout or who could get a bank to invest, would say to bondholders I can buy the lease if you force the sale, you get your money back. He ends up with the 250 year lease then buys CCFC?

Guess its more involved that that, but would the be the general gist?
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SISU haven’t said we are up for sale.
 
Liquid Gold

Liquid Gold

Well-Known Member
The guy that never speaks to the press coming out and talking about admin rumours when they can’t pay back aversive debt.

Wasps fans - “great for a bit of clear talking and clarity”
 
chiefdave

chiefdave

Well-Known Member
CCFC54321 said:
That statement was pathetic.
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What's even more pathetic is how their supporters have just accepted it without question. There's so many questions that need answering and all they got was 'everything's fine', yet they seem happy with that when very clearly there is a lot wrong.
 
C

crowsnest

Well-Known Member
Check out WNTG limited (Wasps New Training Ground)

Richardson sold his shares on 13 May, date the interest was due to the boldholders.

Also wasps community foundation ltd has been struck off this week.
 
Grendel

Grendel

Well-Known Member
Whatever this is has been dissolved

Wasps Community Foundation

Check out the important work the Wasps Community Foundation does!
www.wasps.co.uk www.wasps.co.uk
 
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