[K-9]

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.

Of course any new potential owners would now have to buy 5.75 million quids worth of extra shares aswell.

[Stoney]

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...

 

[dj_bollocks]

Just juggling the books it looks like... Nothing to see here...

[Tord31]

the accounting element is probably the sugar coating of it in the SMG and AAM accounts. These are never going to be repaid by AFC

[K-9]

A few key points picked up on so far.

 

Net debt (to end June 2012) 16.449m from 14.717m

 

Operating loss 1.144m

 

Gate receipts down 2.412m from 2.765m

 

Sponsorship, broadcasting and commercial all up leading to rise in turnover to 8.337m from 7.462m

 

Wages almost same 5.018 from 5.093

 

Total staff for above up 1 to 112 total with 8 up commercial staff (in house club shop), 3 less players, 1 less football management and 3 less from scouting/youth development.

 

One director given compensation of 68k (wonder who that could be)

 

600k bank interest for year (712k year before)

[K-9]

Just 299k received from sales of Aluko, Foster and Grimmer

[K-9]

the accounting element is probably the sugar coating of it in the SMG and AAM accounts. These are never going to be repaid by AFC

EBTs?

[Tord31]

not so much when is a loan salary as much as when is a loan a donation!

[K-9]

Just noticed that the bank loans that were renegotiated in February run out this Friday and more refinancing will be needed. Probably why timing of report being released with this new news.

[Tord31]

Just noticed that the bank loans that were renegotiated in February run out this Friday and more refinancing will be needed. Probably why timing of report being released with this new news.

 

yes the loans will have been renegotiated and the auditors then in a position to sign off without much comment

[Bebo]

SevcoMedia's spin on things:

 

"Rangers save Aberdeen from insolvency"

[dunc_afc]

Just wondering if this has anything to do with the break even rules for playing in europe that are starting to come in.

[Liam]

SevcoMedia's spin on things:

 

"Rangers save Aberdeen from insolvency"

 

dear god, those pathetic excuses for living organisms are beyond belief. Knuckle-dragger's the lot of them

[Dandyjam]

SevcoMedia's spin on things:

 

"Rangers save Aberdeen from insolvency"

 

They're quite clearly obsessed with us.

[Ke1t]

Not too many homeowners over on the Dead Huns Board.

 

 

rangersxfc

Andy Goram

 

 

where are they gettin this

[ninja-lewis]

"Directors and their interests" makes interesting reading.

 

Number of ordinary shares held

 

2011:

Stewart Milne 1,613,749

Duncan G Fraser 211

William F Miller 1,039

Gordon A Buchan 10,000

Martin J Gilbert 40,000

Hugh W M Little 520

Christopher J Gavin 3,934

Kenneth A Matheson 520

Colin I Welsh (appointed 04/07/2011) -

Ian Jack (appointed 04/07/2011) -

 

Total: 1,669,973 out of 5,843,000 shares in issue - 28%. Apparently AAM still held another 24% when they divested in the summer.

 

2012:

 

Stewart Milne 1,613,749

George K Yule (appointed 25 June 2012) 780,316

Duncan G Fraser 211

Gordon A Buchan 10,000

Colin I Welsh 200,000

Ian Jack 200,000

 

Total: 2,804,276 out of 5,843,000 - 47%.

 

Seems Yule, Welsh and Jack made a pretty substantial investment in the club.

[barassie_afc]

Dont know how anyone can be happy with those financials, they are shocking ( one director paid £157k ask yourself if thats value for money)

[sheepiekev]

Just 299k received from sales of Aluko, Foster and Grimmer

 

Transfer fees are never paid in one lump sums though.

[V for Vendetta]

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?

 

Think I missed that Tord - was there a new sponsorship deal announced?

 

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

 

To be fair its not meaningless tup. Sure its not going to reduce interest payments or anything that dramatic but it certainly will help.

 

Of course any new potential owners would now have to buy 5.75 million quids worth of extra shares aswell.

 

That's an interesting point but I'd guess not quite accurate. Milne (and any other shareholder) can hold as many shares as they want but the value of the club and therefore the realistic purchase price doesn't really change does it?

 

Just 299k received from sales of Aluko, Foster and Grimmer

 

This I find quite dissappointing. I'm really hoping its because the money is being payed in installments - I'm sure that will be in the accounts too if that's the case, I'll take a look if i get a chance.

 

SevcoMedia's spin on things:

 

"Rangers save Aberdeen from insolvency"

 

Wow, the posters on that forum really are a shower of cretinous, hate filled mongs. They don't have the barest grasp on reality and seem to lack a functioning brain cell between them.

 

"Directors and their interests" makes interesting reading.

 

Number of ordinary shares held

 

2011:

Stewart Milne 1,613,749

Duncan G Fraser 211

William F Miller 1,039

Gordon A Buchan 10,000

Martin J Gilbert 40,000

Hugh W M Little 520

Christopher J Gavin 3,934

Kenneth A Matheson 520

Colin I Welsh (appointed 04/07/2011) -

Ian Jack (appointed 04/07/2011) -

 

Total: 1,669,973 out of 5,843,000 shares in issue - 28%. Apparently AAM still held another 24% when they divested in the summer.

 

2012:

 

Stewart Milne 1,613,749

George K Yule (appointed 25 June 2012) 780,316

Duncan G Fraser 211

Gordon A Buchan 10,000

Colin I Welsh 200,000

Ian Jack 200,000

 

Total: 2,804,276 out of 5,843,000 - 47%.

 

Seems Yule, Welsh and Jack made a pretty substantial investment in the club.

 

Good spot Ninja. So Welsh, Jack and Yule all laid out there own cash to buy shares - do we assume these were all bought from AAM?

[RUL]

I'm baffled by it all, afc have asked several news agencies to stop saying the loans have in any wet been written off...so is the debt 16.5m still or what?

[V for Vendetta]

I'm baffled by it all, afc have asked several news agencies to stop saying the loans have in any wet been written off...so is the debt 16.5m still or what?

 

I'm probably going to explain this very poorly (as I understand it pretty poorly) but essentially the debt is reduced on the basis that AAM and SM are now larger shareholders in the club than before. So they swapped the debt owed to them for a bigger percentage ownership in the club.

[RTYD]

I'm probably going to explain this very poorly (as I understand it pretty poorly) but essentially the debt is reduced on the basis that AAM and SM are now larger shareholders in the club than before. So they swapped the debt owed to them for a bigger percentage ownership in the club.

 

Correct. This will means that the capital and reserves position is improved by

[RUL]

I'd suggest that we are financially fucked if we lose on saturday

[RTYD]

I'd suggest that we are financially fucked if we lose on saturday

 

Mistakes are being made operationally and financially this season just as in past seasons. Maybe time for a little bit of an Abramovich approach "You want to sign who?! Away and fuck, this is who you can sign".

[Tord31]

Think I missed that Tord - was there a new sponsorship deal announced?

 

Page 25, Note 23

 

During the year the Club also agreed to a

[V for Vendetta]

Page 25, Note 23

 

During the year the Club also agreed to a

[gla5gowdon]

Is that deal per year?