[K-9]

Amazing if true and massive well done to SM and board.

 

But will wait and see the annual report rather than trusting Chaz.

Get to page 2 of report and there it is - the 5.75 million LOANED to club is to be converted

[Tord31]

HIGHLIGHT

 

BANK DEBT IS

[spamspamspam]

Get to page 2 of report and there it is - the 5.75 million LOANED to club is to be converted

[Red Dragon]

Can;t be anything but good news.

 

Wiggy and AAM

[Stoney]

It also says in the report that the loans were interest free? I thought they had a higher interest rate than the bank loans... Any ideas on how they can say they were interest free? Down to the fact the interest was always deferred maybez??

 

You are correct one of the loans in the previous accounts was definitely listed as being higher interest rate than the bank loans.

 

I Think it was for 250k but could be wrong.

[Foster14]

Can;t be anything but good news.

 

Wiggy and AAM

 

I don't mean to be negative on this but it changes nothing. There was no way these loans were ever going to be repaid, so all that is happening here is a slight change in the shape of the balance sheet, probably forced by the bank.

[E-P-K]

Can;t be anything but good news.

 

Wiggy and AAM

 

Agreed, not every day circa 50% of the clubs debt gets wiped oot.

[Stoney]

Agreed, not every day circa 50% of the clubs debt gets wiped oot.

 

Maths nae your strong point loon

[E-P-K]

Maths nae your strong point loon

50% of whats left

[tommo1903]

HIGHLIGHT

 

BANK DEBT IS

[Stoney]

50% of whats left

 

[Red Dragon]

I don't mean to be negative on this but it changes nothing. There was no way these loans were ever going to be repaid, so all that is happening here is a slight change in the shape of the balance sheet, probably forced by the bank.

 

Over simplisitic view point maybe but....

 

Debts priot to this announcement ~

[Red Dragon]

So thats pretty much all we are due now then?

 

That will be wiped out when we qualify for the group stages of the Champions League, happy days.

 

My turn to piss on someones parade...

 

You do relaise there is no CL spot for second this year?

 

Or are you banking on winning the league?

[gla5gowdon]

It may lead to more investment from of wealthy NE businessmen we keep hearing about as their money will actually get them some of the ownership.

 

Maybe.

[tommo1903]

My turn to piss on someones parade...

 

You do relaise there is no CL spot for second this year?

 

Or are you banking on winning the league?

 

Of course.

[Jonty]

Well done Milne.

 

He could almost have purchased Murray Park and Ibrox for

[Foster14]

Over simplisitic view point maybe but....

 

Debts priot to this announcement ~

[Dynamo]

All fair comments as well to be honest. More often than not, when I've seen this kind of restructure happen, it is when a company is really struggling. Just a slight concern there about what has driven them to do this now when they could have done it previously, especially on the back of other disappointing news with regards finances (further losses and stadium situation up in smoke).

 

Perhaps it could be pressure from other board members rather than external pressure from the bank.

 

 

And one of the stipulations from AAM leaving the board altogether?

[Dandyesque]

So it's not really been "written off" has it?

 

Just changed for preferential shares which will be paid first in the event of any change of ownership.

 

It's not as if they are waking up with less money tomorrow than they had yesterday.

 

Exciting for accountants perhaps, but relatively meaningless overall

[Red Dragon]

All fair comments as well to be honest. More often than not, when I've seen this kind of restructure happen, it is when a company is really struggling. Just a slight concern there about what has driven them to do this now when they could have done it previously, especially on the back of other disappointing news with regards finances (further losses and stadium situation up in smoke).

 

Perhaps it could be pressure from other board members rather than external pressure from the bank.

 

I think it is common knowledge that the club are really struggling - this should come as a surprise to no one.

 

Are AAM not withdrawing from the club? Might this explain there timing? and Wiggy merely piggy-backing this or encouraged to do this also?

 

Might it be the club see an opportunity in the absence of sevco?

[Tord31]

most likely AAM have done the honourable thing and cut all ties and not looked for a penny. might hazard a guess that this 'sponsorship deal' is the proceeds from the sale of their shares?

[Foster14]

And one of the stipulations from AAM leaving the board altogether?

 

It's a strange one. With AAM making this additional commitment, you'd think they'd want to retain some opportunity to have an input in how the club is run. Will be interesting to see what they value the investment at in their own accounts in a year or two down the line.

[Stoney]

So it's not really been "written off" has it?

 

Just changed for preferential shares which will be paid first in the event of any change of ownership.

 

It's not as if they are waking up with less money tomorrow than they had yesterday.

 

Exciting for accountants perhaps, but relatively meaningless overall

 

Thats how i picked it up, but thought it was me being thick.

 

At least theres two of us now

[tup]

Exciting for accountants perhaps, but relatively meaningless overall

 

Foster14 came in his pants as he heard breaking news of this meaningless debt for equity transfer.

[Foster14]

I think it is common knowledge that the club are really struggling - this should come as a surprise to no one.

 

Are AAM not withdrawing from the club? Might this explain there timing? and Wiggy merely piggy-backing this or encouraged to do this also?

 

Might it be the club see an opportunity in the absence of sevco?

 

It doesn't change a thing in terms of opportunity as it doesn't improve our budget in any way shape or form. We are already at the limit of our external borrowings, hence why these loans started building.

 

I just wouldn't take it as good news without knowing the full ins and outs of it. Obviously the club are struggling, but I always personally believed that it was being controlled internally by the club. This kind of makes me wonder if the bank is forcing the issue and if that is the case, what this means for the future of the club.

[K-9]

It also says in the report that the loans were interest free? I thought they had a higher interest rate than the bank loans... Any ideas on how they can say they were interest free? Down to the fact the interest was always deferred maybez??

Aye they changed that think last year when we had to refinance.

[Foster14]

Foster14 came in his pants as he heard breaking news of this meaningless debt for equity transfer.

 

It may be meaningless for you or I, but it certainly ain't too the bank. That is all.

[tup]

The key to improving any of this waffle is to get a great team on the park once again and we're well on the way to doing that.

 

If we have a good team, the finance will take care of itself.

[K-9]

So it's not really been "written off" has it?

 

Just changed for preferential shares which will be paid first in the event of any change of ownership.

 

It's not as if they are waking up with less money tomorrow than they had yesterday.

 

Exciting for accountants perhaps, but relatively meaningless overall

Aye pretty much so. They won't lose out at all but it looks good for the books at AFC.

 

The major worry is that we are still running at massive operating loss of 1.144 million and total loss for year of 1.732 million. And this won't be affected by turning interest free loans into shares.

[Dandyesque]

Thats how i picked it up, but thought it was me being thick.

 

At least theres two of us now

 

We could possibly be the brightest 2 people on the board.

 

There's also the possibility we are at the opposite end of the scale, but at least Millertime and Redstar are keeping us off the floor...