Sons of Struth?

[ian1964 10,410]

No doubt the directors will say that they had an urgent requirement for cash and Zeus was the only souce available to them for an unsecured loan; but they would have to be able to prove that or they could be held liable.

 

In other words PISH!:devil:

[BrahimHemdani 1]

It may well be that one reason for a delay with the accounts is that the auditors want to qualify them in one way or another, perhaps even question the going concern basis (ring any bells) and the Board are arguing with them.

[aweebluesoandso 290]

I was there last night and was also handing out leaflets. Maybe I met you.

 

I had on the blue (Super Dry) Rugby top sitting at the bar, had a Grey one on today (buy one get one free)

[TheTinMan99 0]

No doubt the directors will say that they had an urgent requirement for cash and Zeus was the only souce available to them for an unsecured loan; but they would have to be able to prove that or they could be held liable.

 

A small point, but any loan would hardly be "unsecured". It's legalised theft, plain and simple.

[andy steel 0]

Bloody well done to Sons of Struth.

 

Bloody well done.

[BrahimHemdani 1]

A small point, but any loan would hardly be "unsecured". It's legalised theft, plain and simple.

 

Sorry, don't follow you on that.

 

A loan can be secured i.e. with a legal charge against property or other assets (think Ticketus, apparently secured on season tickets) or unsecured i.e. without any legal charge over property or other assets.

 

I think you are referring to the interest being

legalised theft

, which many would agree with, but is not a case of being secured or unsecured.

 

BTW I don't know the details of the loan, I am just assuming it was unsecured because of the extraordinarily high interest rate.

[Frankie 8,148]

Weren't there other loans provided as well? Possibly by Imran himself?

 

Add in his 5% cut of commercial deals and the 100% annual bonuses offered to directors for progress through the divisions then we clearly have a culture of greed as opposed to fair incentive. In saying that someone should have blown the whistle on this long before they did.

 

It also wouldn't surprise me if these bonuses are returned (even in part) as a PR exercise ahead of the AGM.

[Frankie 8,148]

We need participation from influential bears mate, that includes you. For the first time in years bears are uniting and need all the help available. You're very much part of solution dude.

 

I think we all have our part to play and I'm certainly trying my best to ensure balanced and constructive debate on all issues. As I've said all along, it's important not to get entrenched into one opinion or the other as clearly it's not always easy to separate fact from fiction - or at least severely spun subjects.

 

Yesterday showed that tens of thousands of fans (we're all agreed at least 15,000) are concerned with the board's performance and are prepared to have their say on it. It's now upt to those that want a new board to build on that momentum and use positivity to make their case for a better alternative.

[BrahimHemdani 1]

RST email:

 

Late on Thursday evening the RST was contacted regarding a meeting requested by the shareholders fronting a recent requisition for a General Meeting of the Club. The requisitionists subsequently issued a statement which is copied below.

 

 

We have previously made a commitment to the membership that we would seek as much information as we can ahead of any General Meeting in order that you can make an informed decision on how the RST will vote at the meeting. We felt it was entirely in the interests of our members that we attended this meeting, alongside various other fan groups, for that purpose.

 

The requisitionists’ statement was given to us prior to the meeting commencing. The meeting was mainly to inform the fans' groups in attendance that despite how certain media outlets had spun events, they had not walked away and would be going ahead with their motion to have certain Board members removed at the AGM, which the Board of the Club had agreed to convene no later than 31st October 2013..

 

The fans’ representatives expressed concerns that fans have been left feeling confused and bewildered at what has been going on. We were informed that plans were in place and would be shared with the support in due course as there is still some detail to be worked out. This was only to be expected due to the abrupt end to the negotiations mentioned in the requisitionists’ statement and they were still seeking an explanation from the Nomad plus taking legal advice. We were informed that Frank Blin had stepped back from the process for personal reasons and these reasons will remain private and we should respect that.

 

All parties agreed to a very brief statement and to further discussions when things are clarified with regards to the AGM and any motions therein.

 

The three supporters groups (RST, Assembly and Association) have made several requests to meet with the Club jointly. All three groups are still actively pursuing this in the interest of unity but no suitable meeting has been proposed by the club for us to meet together rather than individual groups as the club prefer.

 

Hopefully we will have more information for you in the coming weeks with regard to both the Club and the requisitionists position and plans for the future of the Club.

RST BOARD

 

Who represented the requisitionsists at this meeting?

[Frankie 8,148]

Who represented the requisitionsists at this meeting?

 

I think it was McColl and Murray along with possibly one or two others but I wasn't there.

 

One would imagine there will be more of these meetings ahead of the AGM. I'd suggest they should be opened up to more fans as well.