Statement from administrator (10 Viewers)

[Bennets Afro]

It all seems to of been deleted. It was by ripbuster, but is no longer there. Was a doc from companies house

 

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[sky blue zam]

if ph4 buys ccfc ltd and half share of the ricoh and gets the golden share, what will happen to ccfc holdings?

 

[djpalms23]

holdings will start a new football team managed by ken dulieu and Andy Thorn, they will move into the Tim Fisher Arena in Ryton, they will be captained by Issac Osbourne and play under the name AFC Coventry. like the catherdals we will have 2 teams eventually.

 

[mattylad]

....Basically I read that as.....

"Administrator gets on with job, despite harassment, name calling, obstruction & distraction from idiot fans & idiot business men"

Yes it is Mr Appleton saying call me this that or the other on your forums and in your press releases. I am doing my job thoroughly and proffesionally and will make a statement once it is appropriate to do so.

 

[MusicDating]

It all seems to of been deleted. It was by ripbuster, but is no longer there. Was a doc from companies house

Think it was this thread - http://www.skybluestalk.co.uk/threa...oing-to-help-get-SISU-out?p=443184#post443184

 

[Nonleagueherewecome]

"While my investigations continue, the sale process is ongoing and I am meeting various interested parties over the coming days. When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with.

Read more: Administrator to meet with interested parties this week | Coventry Observer
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For Sale: Mystery Box, one careless owner, contents unknown. Price: £12m ono.

 

[James Smith]

For Sale: Mystery Box, one careless owner, contents unknown. Price: £12m ono.

Very little mileage (left), will consider part exchange debt for equity. Any handshakes are purely as a “goodbye” gesture and not as a sign of “deal agreement".

 

[Nonleagueherewecome]

"When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with."

That is probably the best example of putting the horse before the cart that I have ever know. Surely he is aware of the implications of such an ordering of events?

 

[Nonleagueherewecome]

People read the statement and try to make it fit to their own agenda.
It's a very clever statement - it's tailor fit to all agenda's, without saying anything important.

Execpt the line extracted by the OP:



This is what should be discussed.
FIRST I select a buyer.
Only THEN will I deal with the Golden Share.

This mean - a buyer like PH4 and his consortium can buy the debts to ARVO and ACL, and then risk the Golden Share is transferred to Holdings. So PH4 is unlikely to offer more than £1 plus the £500k+ adminstator fee, and sisu can safely outbid them knowing if they buy Limited they will certainly be given the Golden Share.

Not exactly fair, is it?

OK so maybe you are a City fan!

 

[Nonleagueherewecome]

Nah - it's a typing error. He actually said 'Joy's Administrator'.

Which one of your kids has got access to your PC today?!?

 

[Ripbuster]

I'm with Godiva on this.

I read it as an unbiased (Sisu cannot lose) statement with good use of trickery and Illusion.

It's a statement of fcuk all..

 

[SkyblueBazza]

"When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with."

That is probably the best example of putting the horse before the cart that I have ever know. Surely he is aware of the implications of such an ordering of events?

Alternatively he may be suggesting that SISU will most likely challenge the FL awarding the GS to anyone else that might become owners of CCFC Ltd...but that he isn't bothered about that - as in, if they want to take it to court that's up to them, but since he's an officer of the court his decision would hold plenty of water & theirs would be pretty much - a vain appeal? The player registrations & contracts may be all Holdings have left (unless it's found that they too can be confirmed as being in CCFC Ltd & therefore sold as such)

 

[Delboycov]

OK so maybe you are a City fan!

I thought the same thing NLHWC...only taken about 4 years!

 

[Nonleagueherewecome]

Alternatively he may be suggesting that SISU will most likely challenge the FL awarding the GS to anyone else that might become owners of CCFC Ltd...but that he isn't bothered about that - as in, if they want to take it to court that's up to them, but since he's an officer of the court his decision would hold plenty of water & theirs would be pretty much - a vain appeal? The player registrations & contracts may be all Holdings have left (unless it's found that they too can be confirmed as being in CCFC Ltd & therefore sold as such)

I hope you're right, although it's almost certainly not what SISU expect to happen. Still, it's the most encouraging explanation I've read for what is a very contradictory sounding statement. And at least he sounds like he knows what's going on now, even if he isn't telling us!

 

[Samo]

Surely no one would make an offer for the Club if they are not certain where the Golden Share would be. (Except SISU who know where it is.)

You could be buying the debt but not the golden share.

But if the share currently rests with the FL, and where it was is irrelavent, then bids by all parties (including SISU) are conditional because the FL can hand it to who they like.

 

[Godiva]

But if the share currently rests with the FL, and where it was is irrelavent, then bids by all parties (including SISU) are conditional because the FL can hand it to who they like.

That's the twist ... it's a company that's up for sale, not the Golden Share (which by the way can't be sold). I don't think it is possible to make a bid conditional. You buy the company (and hope for the best).

 

[RegTheDonk]

"When the process is finalised and a purchaser identified, the issue of the Golden Share will be dealt with."

I know this seems a key statement and there are a few takes on this. A positive one may be something like, 'once someone has brought the club, the FL can then issue the share to that company'

OK SISU may be able to easily outbid PH4 because, in effect, they are paying themselves back with fantasy money - but they are still left with the dilemma of no ground, appease the FL with some kind of plan to fulfill fixtures, no fans wanting to go to "home" games outside of Cov, and all problems of a loss making club.

I think a question needs to be answered (somehow) is just how much would PH4 have to bid for CCFC Ltd where SISU would fold their cards and not put in a higher bid? In essence, how much would SISU accept to f*ck off?

 

[Samo]

I know this seems a key statement and there are a few takes on this. A positive one may be something like, 'once someone has brought the club, the FL can then issue the share to that company'

OK SISU may be able to easily outbid PH4 because, in effect, they are paying themselves back with fantasy money - but they are still left with the dilemma of no ground, appease the FL with some kind of plan to fulfill fixtures, no fans wanting to go to "home" games outside of Cov, and all problems of a loss making club.

I think a question needs to be answered (somehow) is just how much would PH4 have to bid for CCFC Ltd where SISU would fold their cards and not put in a higher bid? In essence, how much would SISU accept to f*ck off?

That is really what this whole thing is about, in a nutshell... How much would SISU accept to Fuck off?

 

[Broken Hearted Sky Blue]

That is really what this whole thing is about, in a nutshell... How much would SISU accept to Fuck off?

I dont think its the proble of how much cash they would want probably get it for 5 million its how much debt they want to leave in my opinion