Stock Exchange Anouncement

[Zappa 0]

These are important facts. The board has given away a lot for £2m of funding, and Ashley's additional retail income could be worth an additional £300K a year to him.

 

The directors have given:

Security of Murray Park, valued around £12m-£14m IIRC

A floating charge over the rest of the clubs assets, excluding Ibrox

An effective £300K of income a year.

 

all for a measly additional £2m.

 

How anyone can say that the facility is fair and reasonable is beyond me.

 

Don't forget the fixed charges over Edmiston House, Albion Car Park, and the Club's registered trademarks!

 

The Facility is to be secured by (1) a floating charge over the Club's assets and (2) fixed charges over Murray Park, Edmiston House, Albion Car Park, and the Club's registered trademarks.

[craig 5,195]

There absolutely HAS to be legal recourse to this decision. It is in breach of their fiduciary duty (though they will argue otherwise). RFFF funds ?

[Bluedell 5,329]

Don't forget the fixed charges over Edmiston House, Albion Car Park, and the Club's registered trademarks!

 

Tedmiston House and the car park were already in place for the previous £3m? I was just looking at what had been added for the additional £2m.

[pete 2,494]

Lets get one thing right it is not costing Ashely anything the 5 mill has to be paid back to him.

 

The thing is what does he hold over for 0 investment.

[Zappa 0]

Tedmiston House and the car park were already in place for the previous £3m? I was just looking at what had been added for the additional £2m.

 

Right, I'm with you now BD.

 

Yes, the securities on Ed House and the car park are effectively just being transferred from MASH to SD.

 

Still, you can add the Club's registered trademarks and the shirt sponsorship transfer to RRL onto your list.