Have no idea.
There have been redundancies .
Fourth day of strike action for Bullivant journalists
Journalists are again out on the picket line today as more support is offered to the strikers.
Have no idea.I can’t see anything about Les Reid being sacked anywhere, is this just a rumour?
As for Wasps, fair play to them, but their improved on-pitch performance doesn’t make any of their off-pitch shenanigans any less reprehensible, imho.
Quins also lost two front-rowers in the pre-match, which certainly didn't help their set-piece - which was very, very poor in the event.They were luck last night. They were losing to Harlequins and looking really poor. They only won after harlequins had a man sent off.
Can't even bear reading about them or the Ricoh anymore, makes me sick. Next thing I wanna read is Wasps go bust or Ricoh burns to the ground (with no one in it of course.)Wasps have made an announcement (EXCLUSIVE with the Wallygraph Bobby Bridge) about new 'long term' deals for BCD sporting events. That they're building a sports bar (pretty clear that they'll be using that grant money for something more than was advertised).
Strangely they think the BCD events will help them sell rooms at the hotel, aside from the competitors who is going to be staying there?
People who want to watch the game from the hotel room maybe?Wasps have made an announcement (EXCLUSIVE with the Wallygraph Bobby Bridge) about new 'long term' deals for BCD sporting events. That they're building a sports bar (pretty clear that they'll be using that grant money for something more than was advertised).
Strangely they think the BCD events will help them sell rooms at the hotel, aside from the competitors who is going to be staying there?
People who want to watch the game from the hotel room maybe?
What on telly? It's not sports using the pitch, the article suggest darts and snooker.
Has he mentioned the brothel yet?
I'm sure the council would help them smuggle the women in from Romania too.Are they opening one at the Ricoh?
Are they opening one at the Ricoh?
Hopefully they will be very disappointed in their next game.Before anyone comments on how well the insects did - Exeter Thirds.
Think the Govt changed state aid laws early on in Covid crisis.... and look who suddenly threw a load of cash in Wasps direction.....Do the vast "grants" to a non profitable company constitute State Aid. Usually they should only be given to viable concerns
Quick skim seems to suggest this reorganisation is so they can claim grants received are not paying off debt I assume.Do the vast "grants" to a non profitable company constitute State Aid. Usually they should only be given to viable concerns
They can't change them unilaterally as during the transition the EU law is still in placeThink the Govt changed state aid laws early on in Covid crisis.... and look who suddenly threw a load of cash in Wasps direction.....
Maybe it's the official receivers. Save on the travel...Whatever happened to “an official announcement regarding the identity of the new tenant is expected before the end of the week”? Bridge seems to have gone quiet on that.
Sisu and Les Reid up to their old tricks again....
Seriously Though this is brilliant news.They wouldn’t resort to this if they had no other option and there is the possibility the bond holders say no and try and get what they can with a ricoh sale.
aringadingding 6 Oct '20 - 11:59 - 110 of 111 |
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Fucking hell. It’s got to be PR because nobody is deluded enough to think that a £17m downturn and asking creditors to let you off is ever a good thing.From ADVFN - must be the WASPS PR machine?
Hi All, I see this as positive for the following reasons:
aringadingding
6 Oct '20 - 11:59 - 110 of 111
1) It removes certain covenants. To be honest at this stage of the game I don't see covenants as particularly relevant. The removal of requirements to meet them allows management to focus on doing the most important things with the cash they have while effectively gaining advance permission from lenders to do this.
2) It sets the company up for further non-recourse debt raising. Here non-recourse means without recourse to the assets on which the bonds are secured (a good thing). This borrowing would represent cash inflow to the company, and may or may not relate to government provided COVID-19 financing. Government-provided financing would be likely to be relatively favourable terms (e.g. lower interest rate than the bonds). I'm not sure how certain it is that government provided cash may appear, but to set the group up to receive it without impacting bondholder security seems very sensible. Whatever the source of cash, cash inflow helps the company to manage their current situation.
3) It is paving the way for refinancing. Both potentially utilising the cash from bullet 2 above or simply in general by allowing the potential for refinancing prior to May 2022 (again a good thing).
4) Overall it demonstrates the company continues to be very professionally and competently managed.
Clearly the listed bond prices have not reflected the above interpretation (down circa 6% today) but frankly who knows what is going on with the supply and demand for these bonds. Maybe the very basic interpretation is that more debt is bad. I would say if it doesn't impact security and helps take advantage of low cost finance and manage a cash squeeze then it is very good.
Side point: In retrospect, these excellent pitch performances, which I expect we are all very much enjoying, seem to be the cumulative result of long periods of investment in players, brand, facilities etc off the pitch. People (e.g. channel 5 commentators) were saying right at the start of this year that a quiet confidence was building at the club and with hindsight we can say they were right, and they were right for real reasons. So I feel Wasps are in a great place to continue a long commercial and sporting journey.
From ADVFN - must be the WASPS PR machine?
Hi All, I see this as positive for the following reasons:
aringadingding
6 Oct '20 - 11:59 - 110 of 111
1) It removes certain covenants. To be honest at this stage of the game I don't see covenants as particularly relevant. The removal of requirements to meet them allows management to focus on doing the most important things with the cash they have while effectively gaining advance permission from lenders to do this.
2) It sets the company up for further non-recourse debt raising. Here non-recourse means without recourse to the assets on which the bonds are secured (a good thing). This borrowing would represent cash inflow to the company, and may or may not relate to government provided COVID-19 financing. Government-provided financing would be likely to be relatively favourable terms (e.g. lower interest rate than the bonds). I'm not sure how certain it is that government provided cash may appear, but to set the group up to receive it without impacting bondholder security seems very sensible. Whatever the source of cash, cash inflow helps the company to manage their current situation.
3) It is paving the way for refinancing. Both potentially utilising the cash from bullet 2 above or simply in general by allowing the potential for refinancing prior to May 2022 (again a good thing).
4) Overall it demonstrates the company continues to be very professionally and competently managed.
Clearly the listed bond prices have not reflected the above interpretation (down circa 6% today) but frankly who knows what is going on with the supply and demand for these bonds. Maybe the very basic interpretation is that more debt is bad. I would say if it doesn't impact security and helps take advantage of low cost finance and manage a cash squeeze then it is very good.
Side point: In retrospect, these excellent pitch performances, which I expect we are all very much enjoying, seem to be the cumulative result of long periods of investment in players, brand, facilities etc off the pitch. People (e.g. channel 5 commentators) were saying right at the start of this year that a quiet confidence was building at the club and with hindsight we can say they were right, and they were right for real reasons. So I feel Wasps are in a great place to continue a long commercial and sporting journey.
Bond down 8% to 40p in the £ today.
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