King talks accounts and predictions (2 Viewers)

[Danceswithhorses]

Oddly he says this:
Moving forward, future funding requirements will be provided by the new owner via the new parent undertaking CovCityCo Ltd without incurring interest or management charges

Erm, Doug you own us, but you make it sound like someone else does ??
Probably just badly phrased.

Doug King makes 'exciting' prediction as Coventry City accounts published

Coventry City news from CoventryLive as we take a look at the comments and figures behind the club's latest set of published accounts

www.coventrytelegraph.net

 

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[fernandopartridge]

It's a poorly written article but it's just referring to the Strategic Report in the published accounts which like all formal documents are written in the third person

 

[oldskyblue58]

The 100m in losses is a nonsense manufactured via clever use of the group situation and in the administration. Ultimately for the establishment of otium it equates to the preference shares issued in 2014 big chunk of that manufacturing, 28m, even predates sisu.

Effectively the losses are only that level because sisu wanted them to be it isnt all losses from trading no where near.

Exclude most of the preference shares and the losses since 2014 are around 40m. Not insignificant but no way sisu lost 100m hard cash to keep us going

 

[Grendel]

The 100m in losses is a nonsense manufactured via clever use of the group situation and in the administration. Ultimately for the establishment of otium it equates to the preference shares issued in 2014 big chunk of that manufacturing, 28m, even predates sisu.

Effectively the losses are only that level because sisu wanted them to be it isnt all losses from trading no where near.

Exclude most of the preference shares and the losses since 2014 are around 40m. Not insignificant but no way sisu lost 100m hard cash to keep us going

I do wonder if king does own all the shares in the new company

 

[Sky Blue Pete]

Based on that it just means the new owner which we assume is just him

 

[robbiethemole]

about time he announced a share issue, so we can all go back to owning a part of our Club, just like we did before SISU scabbed us out of them!!

 

[Feb57]

about time he announced a share issue, so we can all go back to owning a part of our Club, just like we did before SISU scabbed us out of them!!

Yes Robbie, I would like the chance to buy back the shares SISU paid us nothing for.
Does anyone know if the cat B shares that SISU issued to us are of any use in this new company or are they completely defunct?

 

[Torquay Sky Blue]

Oddly he says this:
Moving forward, future funding requirements will be provided by the new owner via the new parent undertaking CovCityCo Ltd without incurring interest or management charges

Erm, Doug you own us, but you make it sound like someone else does ??
Probably just badly phrased.

Doug King makes 'exciting' prediction as Coventry City accounts published

Coventry City news from CoventryLive as we take a look at the comments and figures behind the club's latest set of published accounts

www.coventrytelegraph.net

Perhaps he's doing a Micky Adams

 

[oldskyblue58]

I do wonder if king does own all the shares in the new company

My guess would be that the shares in the new company are held in a fund somewhere down the line controlled by King as fund manager, much the same way that Seppala operated as owner.

But there is nothing that provides any details on that