al_bro Posted October 15, 2019 Share Posted October 15, 2019 19 minutes ago, singe said: Depends on theses shares. If they are the Necarcu loan, that's £350k he might not have been able to pay. The devil is the detail, and I wish the Trust could shed some light. If the shares were worth 350k then that's more than 10%. If this is the source of the shares which the FLG are buying, then how did they find out about them? Link to comment Share on other sites More sharing options...
peanuts Posted October 15, 2019 Share Posted October 15, 2019 6 minutes ago, al_bro said: If the shares were worth 350k then that's more than 10%. If this is the source of the shares which the FLG are buying, then how did they find out about them? maybe they were offered them by whomever held them rather than putting them into ALs hands Link to comment Share on other sites More sharing options...
sjk2008 Posted October 15, 2019 Share Posted October 15, 2019 22 minutes ago, peanuts said: maybe they were offered them by whomever held them rather than putting them into ALs hands The numbers stack up too if we are to believe that Al paid ~£3m for the Club. Link to comment Share on other sites More sharing options...
sjk2008 Posted October 15, 2019 Share Posted October 15, 2019 1 hour ago, JoeP said: Are we still in trouble financially? Not been many stories of people not being paid recently.. Financially, he might be running us ok. It’s just every other single element that he’s running badly.. Considering Al said he put in £200k last month just to keep us ticking over suggests all is not going swimmingly with regards to Club finances. Link to comment Share on other sites More sharing options...
singe Posted October 15, 2019 Share Posted October 15, 2019 3 minutes ago, sjk2008 said: Considering Al said he put in £200k last month just to keep us ticking over suggests all is not going swimmingly with regards to Club finances. So true. Did Corney ever put that much in a month I wonder? We thought we were on a much more stable footing and all all these costs bought under control and no surprises any more. £200k last month would seem to contradict last motnhs statement: "Since the takeover of the club, despite initial hiccups, we have managed to steady the ship. We still have a long way to go, and nasty surprises from the past keep emerging periodically, but the extent and quantity of these are ever decreasing " Link to comment Share on other sites More sharing options...
leeslover Posted October 15, 2019 Share Posted October 15, 2019 30 minutes ago, sjk2008 said: Considering Al said he put in £200k last month just to keep us ticking over suggests all is not going swimmingly with regards to Club finances. It also suggests he's a buffoon if he paid anything for the shares Link to comment Share on other sites More sharing options...
underdog Posted October 15, 2019 Share Posted October 15, 2019 Okay from memory and remember I am old and have slept since 2016/17 Corney took the Necarcru loan out and I am more or less certain there was no shares attached to it. Now Leeslover and Jorvik have better memory cells than me. So hopefully they can confirm this. When the sale went through, debentures would be on the agenda as per the the Trust briefing at the time and I will presume, an agreement was made of who would settle them. I will also presume that here were confidential stuff between the two parties. What does stick in my memory is that there was a hastily arranged club/fan meeting last March on a Friday night. From the notes of that meeting that was stuck on an FB site and I think on here, club board staff confirmed Corney had shares but they club had devalued them (is this the right terminology?) to something like 0.22%???....however companies house does not record the 22% or increase/devalue of shares. Clear as mud I know, well I am blond. Link to comment Share on other sites More sharing options...
al_bro Posted October 15, 2019 Share Posted October 15, 2019 24 minutes ago, underdog said: Okay from memory and remember I am old and have slept since 2016/17 Corney took the Necarcru loan out and I am more or less certain there was no shares attached to it. Now Leeslover and Jorvik have better memory cells than me. So hopefully they can confirm this. When the sale went through, debentures would be on the agenda as per the the Trust briefing at the time and I will presume, an agreement was made of who would settle them. I will also presume that here were confidential stuff between the two parties. What does stick in my memory is that there was a hastily arranged club/fan meeting last March on a Friday night. From the notes of that meeting that was stuck on an FB site and I think on here, club board staff confirmed Corney had shares but they club had devalued them (is this the right terminology?) to something like 0.22%???....however companies house does not record the 22% or increase/devalue of shares. Clear as mud I know, well I am blond. The only way I know of to devalue shares is to issue more. Link to comment Share on other sites More sharing options...
lookersstandandy Posted October 15, 2019 Share Posted October 15, 2019 35 minutes ago, underdog said: Corney took the Necarcru loan out and I am more or less certain there was no shares attached to it................. Link to comment Share on other sites More sharing options...
Oldham82 Posted October 15, 2019 Share Posted October 15, 2019 I just want some info on the flg how many shares have they bought what is there intentions who are they and is there any secret backers that are wealthy. Come on people shed some light please. Link to comment Share on other sites More sharing options...
jorvik_latic Posted October 15, 2019 Share Posted October 15, 2019 52 minutes ago, underdog said: Okay from memory and remember I am old and have slept since 2016/17 Corney took the Necarcru loan out and I am more or less certain there was no shares attached to it. Now Leeslover and Jorvik have better memory cells than me. So hopefully they can confirm this. When the sale went through, debentures would be on the agenda as per the the Trust briefing at the time and I will presume, an agreement was made of who would settle them. I will also presume that here were confidential stuff between the two parties. What does stick in my memory is that there was a hastily arranged club/fan meeting last March on a Friday night. From the notes of that meeting that was stuck on an FB site and I think on here, club board staff confirmed Corney had shares but they club had devalued them (is this the right terminology?) to something like 0.22%???....however companies house does not record the 22% or increase/devalue of shares. Clear as mud I know, well I am blond. There were shares as part of the security in case of serious default, that’s why there was the worry that connections to Stephen Vaughn could take over the club. I would imagine though that there would have to be a legal case and they would take all of the shares. Not sure on that though. Like you say, we don’t know all of the conditions of sale between Corney and AL. Link to comment Share on other sites More sharing options...
JoeP Posted October 15, 2019 Share Posted October 15, 2019 1 hour ago, sjk2008 said: Considering Al said he put in £200k last month just to keep us ticking over suggests all is not going swimmingly with regards to Club finances. Obviously we're not self-sustainable, but he seems quite pleased with himself for getting us "95% debt free", I think was his quote in an interview on Sky around the time Scholes was appointed... Link to comment Share on other sites More sharing options...
whittles left foot Posted October 15, 2019 Share Posted October 15, 2019 10 minutes ago, Oldham82 said: I just want some info on the flg how many shares have they bought what is there intentions who are they and is there any secret backers that are wealthy. Come on people shed some light please. We all do but it seems it is OK for some to go slowly slowly when others get pasted for it. Link to comment Share on other sites More sharing options...
al_bro Posted October 15, 2019 Share Posted October 15, 2019 15 minutes ago, Oldham82 said: I just want some info on the flg how many shares have they bought what is there intentions who are they and is there any secret backers that are wealthy. Come on people shed some light please. Depends what you call wealthy. As I've said before, if they haven't got 7m to buy the land and OEC outright, they are not wealthy enough to run the club, and buying say 10% of the shares is pointless. Link to comment Share on other sites More sharing options...
Dave_Og Posted October 15, 2019 Share Posted October 15, 2019 1 hour ago, al_bro said: The only way I know of to devalue shares is to issue more. Running a business into the ground is quite a good way of devaluing shares. Link to comment Share on other sites More sharing options...
Dave_Og Posted October 15, 2019 Share Posted October 15, 2019 1 hour ago, underdog said: Okay from memory and remember I am old and have slept since 2016/17 Corney took the Necarcru loan out and I am more or less certain there was no shares attached to it. Now Leeslover and Jorvik have better memory cells than me. So hopefully they can confirm this. When the sale went through, debentures would be on the agenda as per the the Trust briefing at the time and I will presume, an agreement was made of who would settle them. I will also presume that here were confidential stuff between the two parties. What does stick in my memory is that there was a hastily arranged club/fan meeting last March on a Friday night. From the notes of that meeting that was stuck on an FB site and I think on here, club board staff confirmed Corney had shares but they club had devalued them (is this the right terminology?) to something like 0.22%???....however companies house does not record the 22% or increase/devalue of shares. Clear as mud I know, well I am blond. Companies House has nothing to do with share valuations. Link to comment Share on other sites More sharing options...
underdog Posted October 15, 2019 Share Posted October 15, 2019 1 hour ago, jorvik_latic said: There were shares as part of the security in case of serious default, that’s why there was the worry that connections to Stephen Vaughn could take over the club. I would imagine though that there would have to be a legal case and they would take all of the shares. Not sure on that though. Like you say, we don’t know all of the conditions of sale between Corney and AL. I stand corrected, hence why I cross reference with you and LL as were dealing with lots at the time. Cheers Link to comment Share on other sites More sharing options...
underdog Posted October 15, 2019 Share Posted October 15, 2019 51 minutes ago, Dave_Og said: Companies House has nothing to do with share valuations. Sorry I meant registering of shareholders. Looks like I am having one of those days. Link to comment Share on other sites More sharing options...
mcfluff1985 Posted October 15, 2019 Share Posted October 15, 2019 1 minute ago, underdog said: Sorry I meant registering of shareholders. Looks like I am having one of those days. Are the trust worried about the potential new owners of shares? The effect that could have on the club? Etc Link to comment Share on other sites More sharing options...
underdog Posted October 15, 2019 Share Posted October 15, 2019 1 minute ago, mcfluff1985 said: Are the trust worried about the potential new owners of shares? The effect that could have on the club? Etc We would be naive not to say we weren't concerned with regards to the recent news. We have attempted to establish more facts with regards to it and we are awaiting responses back. In the meantime, we have updated the FSA We will update you as soon as we know more Link to comment Share on other sites More sharing options...
lookersstandandy Posted October 16, 2019 Share Posted October 16, 2019 Read this thread folks, relates to us.... Link to comment Share on other sites More sharing options...
kowenicki Posted October 16, 2019 Share Posted October 16, 2019 57 minutes ago, lookersstandandy said: Read this thread folks, relates to us.... What are you comments after reading it? Link to comment Share on other sites More sharing options...
leeslover Posted October 16, 2019 Share Posted October 16, 2019 If the stadium and club were one package would they be much better off? If I read it correctly they could still only function by selling the ground to pay the debts? Obviously it's best to have it all together but nothing can help you if you go on spending way above your means Link to comment Share on other sites More sharing options...
lookersstandandy Posted October 16, 2019 Share Posted October 16, 2019 1 hour ago, kowenicki said: What are you comments after reading it? Same as they were here; Link to comment Share on other sites More sharing options...
kowenicki Posted October 16, 2019 Share Posted October 16, 2019 25 minutes ago, lookersstandandy said: Same as they were here; Alas, for now it is so. So Blitz continues to benefit from OEC activity in his stand. Unless of course FLG aren’t paying rent? Link to comment Share on other sites More sharing options...
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