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PurpleCanary

LIKELY EVENTS - A SOBER ASSESSMENT

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1. The club seems to have held off from putting a figure on the number of season tickets available for 2011/12, presumably waiting to find out which division we would be in. Now that is settled a decision can be made on whether to install extra seats and - if so - how many. And so how season tickets there will be.

 

2. The Turners can now call in their £2.5m loan. It will be interesting to see if they do.

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3. Delia and Michael to sell some of their shares / ask the club to pay back some (not all) of their interest free loans. They deserve that for the financial support they have given the club (irrespective if you believe they brought the need for that on us by their actions)

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[quote user="Yellow Rose of Texas"]2. They would be smart to convert that to shares ...[/quote]

 

That may well take Delia and Michael''s share holding below 50% so I''m not sure that would be an option. I guess it''s a good problem to have!

 

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[quote user="Tim Allman"]

[quote user="Yellow Rose of Texas"]2. They would be smart to convert that to shares ...[/quote]

 

That may well take Delia and Michael''s share holding below 50% so I''m not sure that would be an option. I guess it''s a good problem to have!

 

[/quote]

 

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Tim, not certain but I think Yellow Rose was there talking about the Turners converting their £2.5m loan into shares. But you''re right that S&J can''t sell many shares without losing control, which would trigger all sorts of events.

 

What getting the PL money does mean is that we are presumably on track to pay off Bank of Scotland (the lesser of our two lenders) by October 2013. When that happens then - if they want - Smith and Jones and Foulger can ask for the combined £3.5m they are owed. If they want.

 

 

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