Gynnsthetonic
Well-Known Member
They keep mentioning selling the stadium for a knock down £28m, who though will pay that for it, its back to where we were before, its worthless!
The first target to meet direct with Trustee is believed to have been met
Check ADVFN
Which one? Tye one saying expect to refinance/ redeem by 12 August is still there,The bond announcement regarding the extension to the refinancing has also disappeared from the Wasp Fc main website
Just going by Drunken Wasp site from Kentwasp1All the statements are still available on various investor sites, perhaps they have removed it and from the offal so that lazy Wasps fans don’t stumble across it on their website by accident.
What happens now then, they just keep hold of £35m and do nothing and it all gets brushed under the carpet
I think the question a lot of bondholders should be asking is; when are they going to get their investment back, and not just the interest on their investment?
Its good news apparently, talk about heads in the sandNot illegal, but they clearly said that they would formalise a consent solicitation process in August, and they've evidently not done so.
There's no need to launch a consent solicitation process if the bond is simply going to be paid.
Its good news apparently, talk about heads in the sand
Nice surprise for them to get their money back?So why will they not communicate with the Bondholders?
Dawkins must be right then.Its good news apparently, talk about heads in the sand
That’s just him saying that a week or so ago they had good news. Nothings come out to substantiate that comment.Dawkins must be right then.
As it’s says it’s in advanced discussions and nothing more than a holding statement to appease the bond holders.
A it’s says it’s in advanced discussions and nothing more than a holding statement to appease the bond holders.
No different the last statement.
I'd imagine they've come out with this statement because they know the bondholders are gathering force and want to halt their proceedings against Wasp to cash in on the bond at a reduced rate meaning bye bye WaspMonths ago they were releasing statements saying similar, what makes anyone owned money think things will be different this tie round? Reads to me as more stalling and hoping the bond holders will just sit on their hands and do nothing while not getting their money back on some vague promise better times lie ahead.
All in place ready to go according to ShugsI thought they where all ready at advance stages with HSBC about 6 months ago.....
I bet the 6.5% they have to pay bond holders is a damn site cheaper than what they have been offered elsewhere to cover the bond
I bet the 6.5% they have to pay bond holders is a damn site cheaper than what they have been offered elsewhere to cover the bond
given they have had years with essentially an interest only loan, and even to meet the payments on that they had to borrow enough to ring fence money for the interest payments, how on bath are they going to service a loan at a higher interest rate moving forward?
I don't see any business plan that is going to give them that kind of turn around, it will need millions a year and they need to generate millions more a year just to break even.
Am I missing something as their supporters seem to be in celebratory mode but is this not just delaying the inevitable?
Reading the wasps bond site they don’t believe wasps and think there in worse position as they have no timeline of payment at all.given they have had years with essentially an interest only loan, and even to meet the payments on that they had to borrow enough to ring fence money for the interest payments, how on bath are they going to service a loan at a higher interest rate moving forward?
I don't see any business plan that is going to give them that kind of turn around, it will need millions a year and they need to generate millions more a year just to break even.
Am I missing something as their supporters seem to be in celebratory mode but is this not just delaying the inevitable?
but where does that £4m a year come from when they're losing millions a year already?40 years at 12% would be £4 million a year
Storm clouds hang over Premiership with clubs facing uncertain future
The domestic season launch has been overshadowed by the impending financial peril highlighted by the plight of Worcesterwww.theguardian.com
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