Is this possibly the money that’s paid off the charges?
basically the the 33m is the debt we owed arvo and has just been moved to another owner that will crop up again in 5 years
It's only raising money if they're paid up shares
What I mean is - someone’s stumped up the money to pay the debt but they want the money back. The shares are an IOU effectively.Surely if it’s shares it’s not been moved?
Is this possibly the money that’s paid off the charges?
basically the the 33m is the debt we owed arvo and has just been moved to another owner that will crop up again in 5 years
I’m just pleased we’ve moved on from CRM systems.
correct, there is no calling in debt on shares etc - They are an investment only - So maybe this time we truly are debt free - we just need him to put another £10m in now - but from what MR says, I think the major rebuild will be in the summer and have a really good go at it next yearIt looks like the cash for the 33m in shares will be used to pay off 33m of debt, so the debt is no longer a liability on the balance sheet. So no, it won’t crop up again in 5 years. Debts/loans in theory need to be repaid, shares do not.
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Anyone got any opinions on whether this transaction will have been recorded in Quickbooks or Xero?
SageAnyone got any opinions on whether this transaction will have been recorded in Quickbooks or Xero?
I’m just pleased we’ve moved on from CRM systems.
The £65m are i asssume the preference shares that sat in Otium post administration and is manufactured debt when two ccfc related companies were wound up
Don't really understand all this to be honest (no surprise) but IF say someone purchased 5,500,001 shares - would they effectively control the club?I imagine the shares have effectively replaced the loans, and won’t be interest bearing. Subject to company performance a dividend could be paid per share. Of course anyone putting that sort of money would want it back - as, when and if the club and hence its shares are sold in the future. No great conspiracy here.
Trust me, some on here will find one somewhere.I imagine the shares have effectively replaced the loans, and won’t be interest bearing. Subject to company performance a dividend could be paid per share. Of course anyone putting that sort of money would want it back - as, when and if the club and hence its shares are sold in the future. No great conspiracy here.
yes but you would need Doug to sell them . There are not shares that are freely available to buyDon't really understand all this to be honest (no surprise) but IF say someone purchased 5,500,001 shares - would they effectively control the club?
I imagine the shares have effectively replaced the loans, and won’t be interest bearing. Subject to company performance a dividend could be paid per share. Of course anyone putting that sort of money would want it back - as, when and if the club and hence its shares are sold in the future. No great conspiracy here.
No.So do we know the figure we were sold for them?
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