£6 million worth of new shares issued

[Cinio Dydd Sul]

New investment?

Or previous loans converted?

Trust and others presumably diluted further?

Silence from them of course. This is information from companies House. Communication from the owners is going spectacularly well.

 

[Londonlisa2001]

New investment?

Or previous loans converted?

Trust and others presumably diluted further?

Silence from them of course. This is information from companies House. Communication from the owners is going spectacularly well.

The conversion rate for the loans had been previously set. This issue is at 75% of the set value.
So either the conversion has happened at a lower value to that previously agreed, or it’s new money but again at a lower value than the club was valued at as recently as October / November when the loan conversion happened.

The amount fits with the outstanding loans, but it’s not certain given the above. I’m sure the trust is all over it. Big dilution for them. Again.

 

[Cinio Dydd Sul]

The conversion rate for the loans had been previously set. This issue is at 75% of the set value.
So either the conversion has happened at a lower value to that previously agreed, or it’s new money but again at a lower value than the club was valued at as recently as October / November when the loan conversion happened.

The amount fits with the outstanding loans, but it’s not certain given the above. I’m sure the trust is all over it. Big dilution for them. Again.

I thought the initial loan was for £13million made up of £5mill from K&L, £5mill from Silverstein and £3mill from 'other (unspecified) shareholders'. I note though that since the window debacle the Americans have been banding about this £16mill figure.

So if this is an additional £6million of conversion on top of the £10mill converted in November, who is going to own the new shares? Considering that even the trust didn't know/ wouldn't say who loaned the £3mill part of the initial £13mill?

 

[Londonlisa2001]

I thought the initial loan was for £13million made up of £5mill from K&L, £5mill from Silverstein and £3mill from 'other (unspecified) shareholders'. I note though that since the window debacle the Americans have been banding about this £16mill figure.

So if this is an additional £6million of conversion on top of the £10mill converted in November, who is going to own the new shares? Considering that even the trust didn't know/ wouldn't say who loaned the £3mill part of the initial £13mill?

I don’t know. But it will be public when the next confirmation statement is due to companies house.

Doesn’t matter much does it?

 

[exiledclaseboy]

Trust shareholding now down to 13.1% from the previous 16%.

 

[Londonlisa2001]

Trust shareholding now down to 13.1% from the previous 16%.

Yeah, but they got £500k.

Don’t get me started ffs. I’m in a good mood.

 

[Cinio Dydd Sul]

I don’t know. But it will be public when the next confirmation statement is due to companies house.

Doesn’t matter much does it?

Depends who owns the new shares.

The lack of communication surrounding it certainly does matter however.

Interesting either way though isn't it?

 

[Londonlisa2001]

Depends who owns the new shares.

The lack of communication surrounding it certainly does matter however.

Interesting either way though isn't it?

Not really.

I couldn’t care less to be honest.

 

[Cinio Dydd Sul]

Not really.

I couldn’t care less to be honest.

Thanks for letting us know.

 

[Cinio Dydd Sul]

https://twitter.com/swanseatyke/status/1630662388847464448?t=1BiNS35wi3TakjIG3nk58Q&s=19

Details here.

 

[jasper_T]

New money is better than new debt, surely. Got to come from somewhere to pay the bills.

 

[Cinio Dydd Sul]

New money is better than new debt, surely. Got to come from somewhere to pay the bills.

Don't think it's particularly new, £13mill at least was loaned to the club years ago.

But at least the club doesn't have to pay it back or keep paying interest.

 

[Londonlisa2001]

New money is better than new debt, surely. Got to come from somewhere to pay the bills.

Doesn’t make any difference when the debt is from owners.

It’s effectively pseudo equity anyway (owners debt is often classed as equity by analysts for that reason).

 

[exiledclaseboy]

Yeah, but they got £500k.

Don’t get me started ffs. I’m in a good mood.

:lol: As someone much more astute than me just said to me, the “guaranteed” 5% is no longer 5%. We’ll it is, just 5% of a smaller amount.

 

[Londonlisa2001]

Thanks for letting us know.

No different to you letting us know you think it is?

What difference does it make in your mind? What part of the club is gone now that the trust deal was done do you not get? What difference does it make whether some faceless apathetic investor owns us or another faceless apathetic investor?