sorry guys we wont see any money coming into the club because we own 50% of the shares. And it is the shares that are on offer not a the 50% of the long leasehold. Shares give a right to dividends but ACL cannot pay dividends because the company has losses and to pay dividends would be illegal.
As for the rent I believe it is £1m - already having been discounted to that and I would think unlikely the council would sanction a lower rent. Buying 50% doesnt give us any more rights to reduced rent than we have now
Those income sources all belong to ACL which is a seperate company to the SBS&L group. Any distribution would need to be sanctioned by the council who have a mechanism for charging interest on their debt that increases as results improve for ACL.
sorry guys we wont see any money coming into the club because we own 50% of the shares. And it is the shares that are on offer not the 50% of the long leasehold. Shares give a right to dividends but ACL cannot pay dividends because the company has losses and to pay dividends would be illegal.
As for the rent I believe it is £1m - already having been discounted to that and I would think unlikely the council would sanction a lower rent. Buying 50% doesnt give us any more rights to reduced rent than we have now
Those income sources all belong to ACL which is a seperate company to the SBS&L group. Any distribution would need to be sanctioned by the council who have a mechanism for charging interest on their debt that increases as results improve for ACL.
Buying all of it would make the profits on the ACL operation available to the club - that purchase is going to be much more expensive and is subject to council veto
old sky blue - 50% of the shares - then depends on the company structure
50% of the shares - with a controlling interest (a golden share) - of the board, gives you the rights to consolidate the P&L of the business in which you have ownership into your own results
Therefore we would be able to consolidate in the revenue and profit of the business into our own
The only thing that Clouting gave away at the forum, was that if they did acquire the business, there would be some corporate restructuring, to ensure benefits were maximised to the club
In all cases, of course the council would have to agree to this
no problems gally9.
The shares issued in ACL are divided equally in to 2 sets A shares and B shares. The council own the A shares and Higgs trust the B shares. I think both have the same rights so think it was done to reflect a joint venture between the two organisations
Usually A and B shares have different voting rights. It is very likely B shares holds less or even no voting rights, but in rare cases it is the other way around.
have checked the ACL accounts Godiva they appear to have the same rights, there is a specific note about it
have checked the ACL accounts Godiva they appear to have the same rights, there is a specific note about it
Dont think the council said they would never sell to SISU what they said is they wouldnt sell to the Club until such time as the owners who ever they are could prove that the books were in order and that they had a viable, sustainable and profitable business.
That applies to any owner of CCFC but would agree it seems very remote that it could be under SISU's ownership
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