simplythebest 0 Posted December 8, 2012 Share Posted December 8, 2012 not directly but if you invest to boost profits and boosting profits pays a dividend etc.... Also pays to progress the club. These business investors will want some kind of a return. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 8, 2012 Author Share Posted December 8, 2012 Key point surely though is none of it is going into someone's back pocket? No, the key point is that they're saying they've identified somewhere for millions of pounds from the share issue to go, but that they're not saying what or where it is, just calling it "other identified projects". It wouldn't raise eyebrows if it was a couple of hundred grand, but it's millions.... 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted December 8, 2012 Share Posted December 8, 2012 No, the key point is that they're saying they've identified somewhere for millions of pounds from the share issue to go, but that they're not saying what or where it is, just calling it "other identified projects". It wouldn't raise eyebrows if it was a couple of hundred grand, but it's millions....So long as it's in the club i'm comfortable. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 8, 2012 Author Share Posted December 8, 2012 So long as it's in the club i'm comfortable. I'd be comfortable (on this one particular point) if I knew where it's planned to be going and what exactly it'll be used for. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 8, 2012 Author Share Posted December 8, 2012 Some thoughts on the share issue: 1. It's very disappointing that we are not getting the chance to invest in the club itself and only a holding company. 2. The reason that the holding company is the investment vehicle appears to be for tax reasons. It allows certain investors to benefit from VCT or EIS tax relief. 3. They have done well to get investments from the likes of LGIM, Artemis and Casenove but presumably from their high risk funds. 4. The VCT/EIS tax relief appers to be limited to the shares placed rather than to the ordinary investors so we will be unable to take advantage of the reliefs available. 5. My understanding (and I'm no expert) is that the cash raised from the placings (a net £15m) has to be spent within 2 years. 6. It is very disappointing that they plan to pay dividends. The payment of dividends will be looked at every 6 months. 7. December is a very strange time to having a share isssue when people's cash is being spent on other things. 8. Some of the salaries of the directors seem over the top. - Charles Green - £360K plus £360K bonus if we win promotion plus share options of up to £720K - Brian Stockbridge - £200K plus £200K bonus if we win promotion plus share options of up to £500K - Imran Ahmad - £350K - Malcolm Murray - £60K - Ian Hart/Phillip Cartmell/Bryan Smart - all £40K for performing non-exec roles. Under Murray the non-execs largely did not get paid. - Walter - £50K - again a lot of cash for doing very little Thanks Bluedell. There's certainly a lot to think about here and I think the dividends issue is major problem, but we've known about that for weeks, so it doesn't come as a surprise. The first point in your list is also a major issue. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted December 8, 2012 Share Posted December 8, 2012 its going to buy a shitload of drugs to sell from the snack outlets. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted December 8, 2012 Share Posted December 8, 2012 Do LGIM do that? Not sure, I suspect they don't but the others do. Would the tax advantages of the VCT's/EIS's mean that they could sell below the placing price but still exit in profit? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted December 8, 2012 Share Posted December 8, 2012 Was that because of the laptop or she not having anything but the laptop on? Alas for no more exciting reason than I went to bed early in order to rise early BTW, e.g. Charles Green earns not more than Ian Black and some say that the latter's standard is still not above average. In fairness to Green he'd probably be more use on the park than Black has been so far. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted December 8, 2012 Share Posted December 8, 2012 i think it is yes. dave king or tbk or walters consortium would not have been paying dividends imho. IMHO that's pish, but then its only my opinion but I think it's right. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted December 8, 2012 Share Posted December 8, 2012 IMHO that's pish, but then its only my opinion but I think it's right. Yeah thats fair enough. i'm only going by what they say but saying something and doing it are different. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.