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Afc Annual Report 2011 - Net Debt 14.717M


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Report to June 30th 2011 due out this week.

 

Should make very interesting reading.

 

Rolled up 5 years of interest was due this year.

 

And finally get details of the re-negociations of the bank situation which the club refused to give shareholders since March.

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Report to June 30th 2011 due out this week.

 

Should make very interesting reading.

 

Rolled up 5 years of interest was due this year.

 

And finally get details of the re-negociations of the bank situation which the club refused to give shareholders since March.

 

 

It'll be XXX reading.

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So the interest will be getting lumped on the overdrafts/loans then?

I imagine the bank won't cover our whole debt (since 5 years ago they wouldn't and debt is much higher now) to there will be outside loans and guarentees as there was before i would think.

 

Wouldn't it be nice if our chairman has given the club a large interest free long term loan as he has given Cove Rangers FC? I doubt it though as was making money off the debts he has overseen and racked up throughout his tenure as chairman of AFC up to now.

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See what I don't understand (yeah plenty I know) Milne said & has always said that he will not stand in anyone's way if they are willing to step in & take over the club, in effect he's saying the club is there for the taking for anyone who wants to buy it yeah?

 

Now what would that cost someone (taking the debt into consideration) I don't know but maybe

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See what I don't understand (yeah plenty I know) Milne said & has always said that he will not stand in anyone's way if they are willing to step in & take over the club, in effect he's saying the club is there for the taking for anyone who wants to buy it yeah?

 

Now what would that cost someone (taking the debt into consideration) I don't know but maybe

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I would suggest and have before that Milne whispers very quietly on North Tonight or on the the back of P&J Interview that he would listen to investors but none have approached him.

 

There has been no serious attempts made to market the club anywhere outside the P&J's readership....

 

Milne is happy to trot out this BS anytime there is a bit of critisism leveled at the Board....If he's serious about getting any potential investor interested in the club....he's got a funny way of going about it.

 

 

I think once he has the land that is Pittodrie firmly in his grippy little grasp, then he will then have no reason to stand in anyone's way.

 

& he can & will fkoff then.

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I would suggest and have before that Milne whispers very quietly on North Tonight or on the the back of P&J Interview that he would listen to investors but none have approached him.

 

There has been no serious attempts made to market the club anywhere outside the P&J's readership....

 

Milne is happy to trot out this BS anytime there is a bit of critisism leveled at the Board....If he's serious about getting any potential investor interested in the club....he's got a funny way of going about it.

 

Yeah I think this is certainly 1 reason why we don't have a queue of people looking to invest. I'm sure there are plenty of others.

 

For one thing Romanov attracts a LOT of publicity for Hearts. Our directors and club really don't catch the imagination.

 

I think once he has the land that is Pittodrie firmly in his grippy little grasp, then he will then have no reason to stand in anyone's way.

 

& he can & will fkoff then.

 

I can't quite understand folk thinking he'd be so greedy for the land under pittodrie he's spend years at the club though - are you serious? I mean is he going to build a fcking diamond mine once he knocks down pittodrie or something?

 

I do agree he won't be around for long - i reckon he'll shuffle off once we move into the new stadium - he'll see it as his big project for Afc, his "legacy". He might keep some or all of his shares and just stand down as chairman. He's doesn't have an outright majority of shares anyway so no particular compulsion for him to be the chairman IMO.

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Not sure why aberdeen asset management are not being brought into the firing line they are still the majority shareholders are they not?

 

2001 our net debt was only 3.8 million

Milne bought all Aberdeen assets managements shares way back. Gilbert and his companies own just 40k shares in total whilst Milne and his companies own over 1.6 million.

 

Our net debt in 1999 was 1.154 million which blows the Donald stand to blame for our debt theory.

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Milne bought all Aberdeen assets managements shares way back. Gilbert and his companies own just 40k shares in total whilst Milne and his companies own over 1.6 million.

 

Our net debt in 1999 was 1.154 million which blows the Donald stand to blame for our debt theory.

 

BS the Donald stand and the subsequent interest on the debt for this monstrosity is a major factor in AFC 's Milne manufactured debt

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Milne bought all Aberdeen assets managements shares way back. Gilbert and his companies own just 40k shares in total whilst Milne and his companies own over 1.6 million.

 

Our net debt in 1999 was 1.154 million which blows the Donald stand to blame for our debt theory.

 

 

Thats the bit im not getting, Milne has always been listed at 1.6million, what happened with donalds 450000 odd shares? also AAM listed as have over 2 million shares as of 2001!

 

Also on the current sheet it says 19 people / companies have 20000 or more shares but only two of those accounted for on the board, who are the rest!

 

Fucking embarassing that we can lose so much money through poor management! Althought things seem to have got much worse after keith wyness left.

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Milne bought all Aberdeen assets managements shares way back. Gilbert and his companies own just 40k shares in total whilst Milne and his companies own over 1.6 million.

 

Our net debt in 1999 was 1.154 million which blows the Donald stand to blame for our debt theory.

 

I'd be interested to see the share breakdown then. I had know idea Milne had bought AAM shares for some reason I thought they were still the largest shareholders.

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BS the Donald stand and the subsequent interest on the debt for this monstrosity is a major factor in AFC 's Milne manufactured debt

In 1999 debt was at 1.154 million. In 2000 the club had a rights issue of shares which "successfully concluded in February 2000 with some

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Thats the bit im not getting, Milne has always been listed at 1.6million, what happened with donalds 450000 odd shares? also AAM listed as have over 2 million shares as of 2001!

 

Also on the current sheet it says 19 people / companies have 20000 or more shares but only two of those accounted for on the board, who are the rest!

 

Fucking embarassing that we can lose so much money through poor management! Althought things seem to have got much worse after keith wyness left.

Gilbert listed as just 40k shares in 2001 after selling his to Milne.

 

Ian Donald still has his shares I believe but is not a director so won't show.

 

Jim Cummings will be another of the 19. 2002 and 2000 reports say Keith Wyness and Dave Cormack have 100000 and 200000 shares.

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Gilbert listed as just 40k shares in 2001 after selling his to Milne.

 

Ian Donald still has his shares I believe but is not a director so won't show.

 

Jim Cummings will be another of the 19. 2002 and 2000 reports say Keith Wyness and Dave Cormack have 100000 and 200000 shares.

Rather than Milne is it not SMG who own the majority?

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Rather than Milne is it not SMG who own the majority?

 

Same difference effectively as Milne has full control of SMG.

 

K9 thanks for pointing out where to find these - I was totally ignorant of this.

 

Years ago my token shareholding used to result in a report sent out to me every year but I think they have an old address for me - if in fact they still even send these out in paper format?

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Gilbert listed as just 40k shares in 2001 after selling his to Milne.

 

Ian Donald still has his shares I believe but is not a director so won't show.

 

Jim Cummings will be another of the 19. 2002 and 2000 reports say Keith Wyness and Dave Cormack have 100000 and 200000 shares.

 

There must be some other serious shareholders out there.

 

Milne only holds 1.6m of the 5.8m shares. The rest of the board seem to hold about 70k between them.

 

Anyone know where the other 4.1m are held?

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Same difference effectively as Milne has full control of SMG.

 

K9 thanks for pointing out where to find these - I was totally ignorant of this.

 

Years ago my token shareholding used to result in a report sent out to me every year but I think they have an old address for me - if in fact they still even send these out in paper format?

 

They are obliged to send out paper copies I believe.

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So looking back to 2002 report Ian Donald had approx 500,000 shares. I'd assume he still does but they are not listed in the new reports as he is no longer a director.

 

Also 2002 report list that AAM hold 2,000,000 shares in the names of their clients. ie the shares are held by AAM trusts.

Do we assume this is still the case?

 

Allowing for a few 100,000 between Wyness (if he took up the options), Dave Cormack and Cummings...

 

Which leaves a mystery 1m or so?

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