Zappa 0 Posted February 20, 2014 Share Posted February 20, 2014 By virtue of the fact that it appears Laxey and the Easdales are providing the loan together then they are acting "in concert" therefore no need for any formal pact or proxy agreement. Not quite sure if the Easdales still holding the various proxies and Laxey acting in concert would trigger the need to make a full offer since they would be over the 30% mark anyway, probably not hence the delay in the share part of the transaction. Regarding the delay in the share part of the transaction, is it possible that they could try to use the necessity of the loan/s to get that failed AGM resolution 10 pushed through? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted February 20, 2014 Share Posted February 20, 2014 Regarding the delay in the share part of the transaction, is it possible that they could try to use the necessity of the loan/s to get that failed AGM resolution 10 pushed through? They are effectively doing now what Resolution 10 would have allowed them to do had it not been voted down. Also a benefit of it not being a straight share transaction at the present is the fact it is a loan and therefore a debt they are in prime position to control the process of an insolvency event. 0 Quote Link to post Share on other sites More sharing options...
compo 6,108 Posted February 20, 2014 Share Posted February 20, 2014 bus fares will be up then 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted February 20, 2014 Share Posted February 20, 2014 They are effectively doing now what Resolution 10 would have allowed them to do had it not been voted down. Also a benefit of it not being a straight share transaction at the present is the fact it is a loan and therefore a debt they are in prime position to control the process of an insolvency event. How can they do this without the permission of the shareholders though? 0 Quote Link to post Share on other sites More sharing options...
TheTinMan99 0 Posted February 20, 2014 Share Posted February 20, 2014 We could really do with finding out whether or not this £1.5m is the first dip into the £2.5m loan facility which was mentioned in the accounts to June 2013 (which were released almost 5 months ago at the end of September) or if in actual fact the £2.5m loan facility will also be used and even with that £2.5m loan there was still going to be a shortfall. There's a very big difference between £4m in loans and just this new £1.5m loan being arranged. That's a decent question, which no doubt will never be answered. It would also be interesting to know if it's a 50/50 deal, between Laxey and Easdale. It wouldn't surprise me if Easdale is just piggy-backed on to it, like he is with most things. He's fast becoming the 'face' for all things dodgy within the club, as if he wasn't already. 0 Quote Link to post Share on other sites More sharing options...
Dragonfly Trumpeter 50 Posted February 20, 2014 Share Posted February 20, 2014 And some actually cost that if your a spiv Or a hard up manager.... 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 20, 2014 Share Posted February 20, 2014 Essentially we now have a board who have run us to the brink of collapse in order to benefit from it. That will help us catch Celtc no end. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,234 Posted February 20, 2014 Share Posted February 20, 2014 Essentially we now have a board who have run us to the brink of collapse in order to benefit from it. That will help us catch Celtc no end. Well, we don't need to catch Celtic for the next 23 months anyway, so keep some of your powder dry. Then again, there are the cups too, but who knows what the Yahoos will manage next season. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 20, 2014 Share Posted February 20, 2014 Oh that's ok then. They should rape us a bit more in the meantime. Ps it's actually 17 months. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,234 Posted February 20, 2014 Share Posted February 20, 2014 Oh that's ok then. They should rape us a bit more in the meantime. Ps it's actually 17 months. No, at this moment and time I tend to disagree that the club is being "raped" (if so, how?). Titles are handed out somewhat later than summer, so I assume I'm closer to that. While I don't share your overall diehard scepticism, you'd agree that no-one of us knows what way the Yahoos' fortunes will take these next year-and-a-half? Both on and off the field. We can all indulge in our horror-scenarios (and many can't see beyond that), so why not look at one for them, with the Co-op loans and their ground deals might hit them hard too? Not that they are looking frightingly head and shoulders above the better teams of the top tier either ... 0 Quote Link to post Share on other sites More sharing options...
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