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Tangible Fixed Assets anyone?

A question re. the Foulger £2m.

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First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

 

 

 

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[quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

 

 

 

[/quote]Why?

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[quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

 

 

 

[/quote]

 

---

 

Tangible, as always all you have to do is read my posts! [;)][:D][;)] In this case my contributions to the "Michael Foulger twitter" thread. But in short it is effectively a £2m gift on top of the £360,000 pound for pound rebate gift and the £1.4m in loans.

 

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He has purchased ordinary shares therefore decreasing Delia''s share holding, I''m no accountant but I believe that it means it''s NOT a loan.

Obviously when we sell the club he will get his shares back so he hasn''t just given us the money...

Also would have been probably more timely about a month ago?!? unless we are looking for a top loan sigining and he has been asked for the money!!!

Anyway, it won''t hit our debt, not a bad investment if we were to go up to the prem this season

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[quote user="lappinitup"][quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

 

 

 

[/quote]Why?[/quote]

Hound of the Basketcases,

I have no idea why you exist!

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[quote user="PurpleCanary"][quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

[/quote]

Tangible, as always all you have to do is read my posts! [;)][:D][;)] In this case my contributions to the "Michael Foulger twitter" thread. But in short it is effectively a £2m gift on top of the £360,000 pound for pound rebate gift and the £1.4m in loans.

[/quote]

Thanks Purple for your reply but is that from the club or your view on the situation?

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[quote user="Jonnyboy"]

He has purchased ordinary shares therefore decreasing Delia''s share holding, I''m no accountant but I believe that it means it''s NOT a loan.

[/quote]

Actually Delia''s holding hasn''t decreased in terms of number of shares held, its Delia''s/ MWJ''s percentage of the enlarged number of shares in issue that has decreased.

Anyway thats not the point I was making, what I am asking is whether Mr. Foulgers existing loan as at the 31st May has been converted into ordinary shares plus an additional new amount of money or whether the £1.44m loan at the 31st May 2010 has been left alone and the £2m is new money. I hope you understand what I am trying to seek clarification about!

 

 

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[quote user="Tangible Fixed Assets anyone"][quote user="PurpleCanary"][quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

[/quote]

Tangible, as always all you have to do is read my posts! [;)][:D][;)] In this case my contributions to the "Michael Foulger twitter" thread. But in short it is effectively a £2m gift on top of the £360,000 pound for pound rebate gift and the £1.4m in loans.

[/quote]

Thanks Purple for your reply but is that from the club or your view on the situation?

[/quote]

--

 

Tangible, that is based on the club''s press release, which signally does not say this is turning his loan into shares. If that was what it was the club would be duty-bound to tell shareholders that.



Moreover it couldn''t just be turning his loan into shares, because his loan only comes to £1.4m and he has bought  shares worth £2m. Of course it could be £1.4m worth of loan and £0.6m of new money but, again, the club would have to make that clear.

All the signs are this is new money, and effectively a gift.

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[quote user="Tangible Fixed Assets anyone"][quote user="lappinitup"][quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

 

 

 

[/quote]Why?[/quote]

Hound of the Basketcases,

I have no idea why you exist!

 

 

[/quote]In your OP you stated you rushed through the Archant statement and yet in your very next post, you obviously took your time to seek out details from the clubs accounts.

 

If you read it carefully you will see clearly this is new money which of course will be very disappointing for you.

 

Ps. Thanks for the reply. I assume it was your own words and do not represent your views as a committee member!

 

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I wonder if this money will be added to the money that never got spent in January... Is it somewhere in the region of 3mil now or has this replaced it?

Futile question I know, but would be interesting to know.

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[quote user="lappinitup"]In your OP you stated you rushed through the Archant statement and yet in your very next post, you obviously took your time to seek out details from the clubs accounts.

 

If you read it carefully you will see clearly this is new money .....[/quote]

That article is vague, it mentions that £2m of ordinary shares has been purchased. The £1.44m loan (as at 31st May 2010)  may or may not continue to exist. 

Re. the Accounts - it didnt take long to look them up.

 

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[quote user="PurpleCanary"][quote user="Tangible Fixed Assets anyone"][quote user="PurpleCanary"][quote user="Tangible Fixed Assets anyone"]

First of all well done Mr Foulger. Thank you for your continued support of NCFC.

Having read the Archant article in a rush its not clear and maybe somebody could clarify for me, whether the £2m is additional new money to his considerable loan (as at the 31st May 2010) or whether its the loan converted into ordinary shares plus an additional top up.

[/quote]

Tangible, as always all you have to do is read my posts! [;)][:D][;)] In this case my contributions to the "Michael Foulger twitter" thread. But in short it is effectively a £2m gift on top of the £360,000 pound for pound rebate gift and the £1.4m in loans.

[/quote]

Thanks Purple for your reply but is that from the club or your view on the situation?

[/quote]

Tangible, that is based on the club''s press release, which signally does not say this is turning his loan into shares. If that was what it was the club would be duty-bound to tell shareholders that.
[/quote]

What legal requirement is there to notify (other than in the Annual Accounts - as there are no Interims) a repayment of loan (in part or whole) if that is what has happened, if there is no legal charge related to it?

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[quote user="Downloads"]

I wonder if this money will be added to the money that never got spent in January... Is it somewhere in the region of 3mil now or has this replaced it?

Futile question I know, but would be interesting to know.

[/quote]

And i don''t think we will ever really know.

How much do you get for finishing in the play-offs, but not getting promoted? Must still be a fair bit, although doesn''t look like any of last years relegated sides will go back up, so no extra money from distributing their parachute payments.

I think if we don''t go up, we will have £4/5 million to spend in the summer. May seem like quite a bit, but i think the way the club is being run now, its realistic. And if we do go up, well i''m not 100% sure on how much you get in a one off payment in summer, but you would hope enough to spend a bit more on getting a few experienced (or maybe even youthful) players to have a chance of competing in the premiership...

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[quote user="Tangible Fixed Assets anyone"]

That article is vague, it mentions that £2m of ordinary shares has been purchased. The £1.44m loan (as at 31st May 2010)  may or may not continue to exist. 

 

[/quote]

"This latest investment is a straight purchase of ordinary shares and not a loan arrangement, fully in keeping with the board’s strategy of reducing the club’s debt burden."

 

How is that vague? If it was a previous loan converted to shares then they would have said so!

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[quote user="Gingerpele"] And i don''t think we will ever really know. How much do you get for finishing in the play-offs, but not getting promoted? ...[/quote]

I wonder if the old arrangements re the playoff final still applies .....

Losers collect both sides share of the gate money like last time

and if you win you are laughing anyway with all that Prem. money.

 

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[quote user="lappinitup"][quote user="Tangible Fixed Assets anyone"]

That article is vague, it mentions that £2m of ordinary shares has been purchased. The £1.44m loan (as at 31st May 2010)  may or may not continue to exist. 

 

[/quote]

"This latest investment is a straight purchase of ordinary shares and not a loan arrangement, fully in keeping with the board’s strategy of reducing the club’s debt burden."

 

How is that vague? If it was a previous loan converted to shares then they would have said so!

[/quote]

May be not! All they are saying is that the £2m is not a loan (ie. its a purchase of ordinary shares)......it doesnt say anything about the position regarding the loan as at the 31st May 2010.

 

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[quote user="Tangible Fixed Assets anyone"]

[quote user="morty"]Tangie, you coming Friday night? Not seen you in ages![/quote]

How are you doing? Presumably you are going?

I may do...what time does it start?

Mind you I may need some protection against the Gang of Three and the Hound! lol!

[/quote]I''m good thanks!Yeah, me and the kids will be there! I''ll make sure there is a good supply of beermats to calculate how we''re going to spend this 2 million!I think it starts at 7.His bark is worse than his bite![;)]

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[quote user="Bebop and Rocksteady"]How many times can an OP reply on one post?[/quote]

When it''s Tangie.....well, on one occasion he responded to one post with 24 separate consecutive posts. Enough to make one sick of his question marks. One had to go to three pages later before bypassing Tangie''s input.

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[quote user="Jonnyboy"]

Also would have been probably more timely about a month ago?!?[/quote]

If the money had been available a month ago, do you think the club would have announced it then?  The price of the players we did bid for would just have gone up.

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Fux the Egyptians I say and no problem with freedom of speech, it was a question about how many times can an OP respond. Simples.

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