NCFC Accounts - A surprise

[Tangible Fixed Assets anyone? 0]

The Turners increased their loan to £2.5m from £2m.

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Foulgers loan at 31st May 2009  £670k

Delia & MWJ loan at 31st May 2009 was £2.14m.

[Canary Man of Kent 0]

They didn''t leave until August 2008 though did they? So they were involved for the first quarter.

[Bethnal Yellow and Green 2,424]

[quote user="Tangible Fixed Assets anyone"]

Delia & MWJ loan at 31st May 2009 was £2.14m.

[/quote]DELIA OUT!

[ca 1]

Haven''t received my accounts yet, am looking forward to a read.

[Evil Monkey 52]

[quote user="cityangel"]

Haven''t received my accounts yet, am looking forward to a read.

[/quote]You must be a riot at parties.... [:P]

[Canary Man of Kent 0]

[quote user="Bethnal Yellow and Green"][quote user="Tangible Fixed Assets anyone"]

Delia & MWJ loan at 31st May 2009 was £2.14m.

[/quote]

DELIA OUT!
[/quote]

Did they convert debt into shares during the period?

[SI 0]

[quote user="SimonOTBC"][quote user="Bethnal Yellow and Green"][quote user="Tangible Fixed Assets anyone"]

Delia & MWJ loan at 31st May 2009 was £2.14m.

[/quote]DELIA OUT![/quote]

Did they convert debt into shares during the period?

[/quote]They have the same amount of shares, so that is a No then

[ca 1]

[quote user="Evil Monkey"][quote user="cityangel"]

Haven''t received my accounts yet, am looking forward to a read.

[/quote]
You must be a riot at parties.... [:P]
[/quote]

It was a tongue in cheek comment[:)]

[SI 0]

Interesting point is the Turners loan ( interest free of course) is due for repayment on the earlier of

• 18 May 2017
• Promotion to the PL

• DS and MWJ ceasing between them to be the registered holders of at least 50% of the shares.

Making the search for a new owner/investor even more difficult.I look forward for the experts to dissect the accounts and report in a language we all understand.So te resume 22.9 million in debts of which £5.312 millions are interest free.Only 17.6 m due to institutions, .

[PurpleCanary 6,371]

[quote user="SI"]Interesting point is the Turners loan ( interest free of course) is due for repayment on the earlier of

• 18 May 2017
• Promotion to the PL

• DS and MWJ ceasing between them to be the registered holders of at least 50% of the shares.

Making the search for a new owner/investor even more difficult.

[/quote]I''m not sure the repayment of a £2.5m loan (assuming the Turners called it in) would be a bar to a serious potential buyer. It is more that all the loans can be called in if there is a change of ownership.As to minority investors there WERE 33,000 shares available to be bought - something that would not reduce Smith and Jones''s holding significantly (nowhere near taking it below 50 per cent) but which would bring in nearly £1m.My copy of the accounts has not arrived yet (I''m another one who''s an absolute riot at parties[<:o)]) so I don''t know if those shares are still available. The relevant information should be in the Called Up capital section.[8-|]

[shefcanary 2,949]

If you look closely at the terms of the various loans and shares, if we get to the Premiership £7million becomes repayable immediately!  Add bonus payments and increases in salaries for football staff and that''s probably about a £11 million outflow before a ball is kicked! 

Not much of an incentive there then even allowing for an increase of £20 million of TV monies, and certainly won''t leave a great amount to invest in the playing squad.

[Bethnal Yellow and Green 2,424]

[quote user="shefcanary"]

If you look closely at the terms of the various loans and shares, if we get to the Premiership £7million becomes repayable immediately!  Add bonus payments and increases in salaries for football staff and that''s probably about a £11 million outflow before a ball is kicked! 

Not much of an incentive there then even allowing for an increase of £20 million of TV monies, and certainly won''t leave a great amount to invest in the playing squad.

[/quote]I believe TV revenue is closer to £30m now for the Premier League. Although by the time we are ever there again who knows, could be much higher or much lower.