forlanssister 3,050 Posted October 30, 2017 Share Posted October 30, 2017 If we raise £20 million but £16 are converted to pay of the soft loans we are only left with £4 minus costs .Given celtic had 4 share issues to raise cash to compete , i honestly believe this is far too early for the 3 bears to take their money back They wouldn't actually be taking their money back as such though and in fairness to them I doubt they're looking for it back anytime soon if ever. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted October 30, 2017 Share Posted October 30, 2017 40 million shares are unissued,at discount for loan conversion never mind alleged market price they nowhere near cover soft loans conversion to equity, unless of course the soft lenders don’t mind a haircut. 40 million is a red herring as they don't have to issue 40 million at once if they don't want to and also they could increase the 40 million to 400 million (or any other number)if they feel the need to do so. It's perfectly normal practice for rights issues to be held at a discount to market price and it's not unknown for them to be at a premium to market price either. 0 Quote Link to post Share on other sites More sharing options...
union 0 Posted October 30, 2017 Share Posted October 30, 2017 also it is unknown for any sort of issue rights or otherwise to be facilitated while a concert party situation is unresolved. the CoS ruling can’t come quick enough for a trandpatent future. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted October 30, 2017 Author Share Posted October 30, 2017 They wouldn't actually be taking their money back as such though and in fairness to them I doubt they're looking for it back anytime soon if ever.g No but they would be getting the equivalent value transferred from debt to equity , and they did state at the last AGM that was what they intended to do with the first share issue . I just feel it's far too early . 0 Quote Link to post Share on other sites More sharing options...
union 0 Posted October 30, 2017 Share Posted October 30, 2017 so they don’t really want payment on the 17th of Dec, just an accounts filler ? 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted October 30, 2017 Author Share Posted October 30, 2017 so they don’t really want payment on the 17th of Dec, just an accounts filler ? It's a debt for equity swap , if they are owed "X" amount in pounds , they get the equivalent value in shares . 0 Quote Link to post Share on other sites More sharing options...
union 0 Posted October 30, 2017 Share Posted October 30, 2017 yes I understand thst, I also understand that the last accs say some loans are repayable on 17th December. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted October 30, 2017 Share Posted October 30, 2017 yes I understand thst, I also understand that the last accs say some loans are repayable on 17th December. And the accounts say that some of the loans are repayable immediately on demand. 0 Quote Link to post Share on other sites More sharing options...
Uilleam 5,429 Posted October 30, 2017 Share Posted October 30, 2017 (edited) A loan is always repayable, in cash, or in kind, otherwise it is a gift. I think we have to trust that the 3 Bears, et al., are minded more to extend the loan periods, than to demand repayment on any contractually due date, and that they continue to propose that the outstanding loans are converted to shares, at the appropriate date. The lenders will, of course, and in all prudence, retain the right to redeem their loans. The 3 Bears, et al., are not, it seems to me, bankers, whom we know will offer an umbrella when the weather is dry, and remove it when it is wet. Edited October 30, 2017 by Uilleam 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted October 30, 2017 Share Posted October 30, 2017 g No but they would be getting the equivalent value transferred from debt to equity , and they did state at the last AGM that was what they intended to do with the first share issue . I just feel it's far too early . Not sure why you think it's too early. It's surely in the company's benefit to have it done as quickly as possible to improve the balance sheet? 0 Quote Link to post Share on other sites More sharing options...
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