Howardroark Posted March 13, 2019 Share Posted March 13, 2019 1 minute ago, jules_darby said: So what purpose is that? Andy why is it your purpose? To pass informed comment on the takeover. Link to comment Share on other sites More sharing options...
jules_darby Posted March 13, 2019 Share Posted March 13, 2019 9 minutes ago, Howardroark said: To pass informed comment on the takeover. Informed? And the second question? Link to comment Share on other sites More sharing options...
Chris Custodiet Posted March 13, 2019 Share Posted March 13, 2019 14 hours ago, Steejay said: Well we're ungrateful cunts who should be thanking him for everything that he's done for us... Yes Link to comment Share on other sites More sharing options...
hughmungus Posted March 13, 2019 Share Posted March 13, 2019 1 hour ago, Howardroark said: To pass informed comment on the takeover. Keep it coming ignore the soothsayers on here. Any info is better than none. Link to comment Share on other sites More sharing options...
Chris Custodiet Posted March 13, 2019 Share Posted March 13, 2019 Just a small point. The £5.5m is owed to Prescot Business Parks and not to Michael James. MJ owns only 20% of PBP with the other 80% owned by billionaire, Tom Morris so, unless the shareholdings in PBP have also changed, it seems safe to assume that Mr Morris has approved any new arrangement. Michael is a lifelong Wanderers fan and I'm encouraged that he's joined the consortium but I know of no great personal wealth of his or any of the consortium directors. Good luck to them alI. I don't expect it will be very long before they too get frustrated by Messrs Iles and Bonnar. It'll be harder for Michael, as he lives in the area. Link to comment Share on other sites More sharing options...
Howardroark Posted March 13, 2019 Share Posted March 13, 2019 1 hour ago, jules_darby said: Informed? And the second question? Informed as in I work in finance (to repeat a comment from Saturday). Why? Because I (perhaps incorrectly) felt there would be an appetite for it here. Link to comment Share on other sites More sharing options...
Howardroark Posted March 13, 2019 Share Posted March 13, 2019 21 minutes ago, Chris Custodiet said: Just a small point. The £5.5m is owed to Prescot Business Parks and not to Michael James. MJ owns only 20% of PBP with the other 80% owned by billionaire, Tom Morris so, unless the shareholdings in PBP have also changed, it seems safe to assume that Mr Morris has approved any new arrangement. Michael is a lifelong Wanderers fan and I'm encouraged that he's joined the consortium but I know of no great personal wealth of his or any of the consortium directors. Good luck to them alI. I don't expect it will be very long before they too get frustrated by Messrs Iles and Bonnar. It'll be harder for Michael, as he lives in the area. I believe the loan is and was an advance against future dividends to MJ, use of PBP was for facilitation. Link to comment Share on other sites More sharing options...
Rizlar Posted March 13, 2019 Share Posted March 13, 2019 So Howard any ideas about how long before this takeover will be copleted and is mlMark Warburton still involved. Link to comment Share on other sites More sharing options...
Benny The Ball Posted March 13, 2019 Share Posted March 13, 2019 13 minutes ago, Howardroark said: Informed as in I work in finance (to repeat a comment from Saturday). Why? Because I (perhaps incorrectly) felt there would be an appetite for it here. Morning Howard Do you think the fact that Michael James is on board now precludes any other bidders ? Also with regard to Eddie Davies Trustees could you envisage a scenario whereby ( figures for illustrative purposes ) say Anderson has done a deal at £9 million and £8 million is paid to the trustees to clear the decks , the trustees in turn rebate the cost of Kens payoff £1 million using these figures back to the purchasers as a discount so effectively its the trustees and not the buyers who have borne the cost of paying off KA ? Link to comment Share on other sites More sharing options...
Chris Custodiet Posted March 13, 2019 Share Posted March 13, 2019 2 minutes ago, Howardroark said: I believe the loan is and was an advance against future dividends to MJ, use of PBP was for facilitation. Sorry Howard, can you explain further? Are you saying that three years ago PBP made a secured loan of £5.5M to Bolton Whites Hotel due for repayment on 29 January 2017 in lieu of future dividends MJ could expect from PBP (or some other company)? PBP's total capital and reserves was only about £2m in 2016 and MJ owned only 20% of that. At the last balance sheet date, 31 March 2018, PBP had capital and reserves of £5.8m. The small size of the corporation tax owing suggests that it included upward revaluations of property sold after the balance sheet date (see note 9). https://beta.companieshouse.gov.uk/company/07345546/filing-history Link to comment Share on other sites More sharing options...
Dr Faustus Posted March 13, 2019 Share Posted March 13, 2019 fabswingers dot com Link to comment Share on other sites More sharing options...
Site Supporter HomerJay Posted March 13, 2019 Site Supporter Share Posted March 13, 2019 where we up to now? can i change my avatar yet? Link to comment Share on other sites More sharing options...
Chris Custodiet Posted March 13, 2019 Share Posted March 13, 2019 (edited) 11 hours ago, Howardroark said: As I’ve said, some funding must be available, of course, it’s just how much. Converting the loan to equity just means he can take an equity position for nothing whilst converting the amount owed to a directors loan. This has sizeable advantages in that he can request a drawing against the loan every month (higher than the repayments he was receiving), enjoy tax breaks on it and finally, releasing the lien on the car park allows for redevelopment which almost certainly will be awarded to PBP. Sorry, Howard, but if the PBP loan was converted to equity it couldn't still be a loan. And if a loan due to PBP was converted into a loan due to Michael James I think you'd find that HMRC would be looking to PBP for a very large sum of money and, if MJ tried to draw on that loan, an even bigger sum. As for the shares being acquired for nothing (or next to nothing) that's just what I would expect MJ to pay because frankly that's all they are worth.. Edited March 13, 2019 by Chris Custodiet Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2019 Share Posted March 13, 2019 46 minutes ago, HomerJay said: where we up to now? can i change my avatar yet? Avatar rights seem to have been withdrawn? Link to comment Share on other sites More sharing options...
Site Supporter HomerJay Posted March 13, 2019 Site Supporter Share Posted March 13, 2019 11 minutes ago, boltondiver said: Avatar rights seem to have been withdrawn? ken for life then. Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2019 Share Posted March 13, 2019 5 minutes ago, HomerJay said: ken for life then. You know you want it Link to comment Share on other sites More sharing options...
Sluffy Posted March 13, 2019 Share Posted March 13, 2019 1 hour ago, HomerJay said: where we up to now? can i change my avatar yet? No Ken Do? Link to comment Share on other sites More sharing options...
Howardroark Posted March 13, 2019 Share Posted March 13, 2019 1 hour ago, Chris Custodiet said: Sorry, Howard, but if the PBP loan was converted to equity it couldn't still be a loan. And if a loan due to PBP was converted into a loan due to Michael James I think you'd find that HMRC would be looking to PBP for a very large sum of money and, if MJ tried to draw on that loan, an even bigger sum. As for the shares being acquired for nothing (or next to nothing) that's just what I would expect MJ to pay because frankly that's all they are worth.. It can if it’s “converted to equity” Link to comment Share on other sites More sharing options...
Howardroark Posted March 13, 2019 Share Posted March 13, 2019 1 hour ago, Chris Custodiet said: Sorry Howard, can you explain further? Are you saying that three years ago PBP made a secured loan of £5.5M to Bolton Whites Hotel due for repayment on 29 January 2017 in lieu of future dividends MJ could expect from PBP (or some other company)? PBP's total capital and reserves was only about £2m in 2016 and MJ owned only 20% of that. At the last balance sheet date, 31 March 2018, PBP had capital and reserves of £5.8m. The small size of the corporation tax owing suggests that it included upward revaluations of property sold after the balance sheet date (see note 9). https://beta.companieshouse.gov.uk/company/07345546/filing-history Yes it’s against expected dividends/remuneration targets. Link to comment Share on other sites More sharing options...
dazl1212 Posted March 13, 2019 Share Posted March 13, 2019 (edited) I wonder what Basran and Brittans end goal is? They aren't going to make any money off the club, unless they either get us in the Premier league or asset strip, which seems unlikely to recoup the amount they have paid. I don't see them as having enough money to get us in the Prem, saving them getting lucky and get another Allardyce. Unless they have a very rich backer we don't know about. i know one of the new members of the board is a fan but he's not worth hundreds of millions. Edited March 13, 2019 by dazl1212 Link to comment Share on other sites More sharing options...
Site Supporter HomerJay Posted March 13, 2019 Site Supporter Share Posted March 13, 2019 8 minutes ago, dazl1212 said: I wonder what Basran and Brittans end goal is? They aren't going to make any money off the club, unless they either get us in the Premier league or asset strip, which seems unlikely to recoup the amount they have paid. I don't see them as having enough money to get us in the Prem, saving them getting lucky and get another Allardyce. Unless they have a very rich backer we don't know about. i know one of the new members of the board is a fan but he's not worth hundreds of millions. didnt already establish that basran has links to an ex-facebook bloke worth £9bn ? Link to comment Share on other sites More sharing options...
dazl1212 Posted March 13, 2019 Share Posted March 13, 2019 1 minute ago, HomerJay said: didnt already establish that basran has links to an ex-facebook bloke worth £9bn ? Yes, I believe so but I am not sure whether or not that guy is involved. I would love to think he is mind you. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted March 13, 2019 Share Posted March 13, 2019 12 minutes ago, dazl1212 said: I wonder what Basran and Brittans end goal is? They aren't going to make any money off the club, unless they either get us in the Premier league or asset strip, which seems unlikely to recoup the amount they have paid. I don't see them as having enough money to get us in the Prem, saving them getting lucky and get another Allardyce. Unless they have a very rich backer we don't know about. i know one of the new members of the board is a fan but he's not worth hundreds of millions. How about this - stabilise the club, run it well, hopefully have some on-field success - put it in a better place then sell it? I'm not saying that is easy but its very possible even without spending loads. If they have NOTHING to spend then that becomes very unlikely. If they can clear the debts, run it "sustainably" with modest financial support (say £3M a year which is our current run rate so I'm told) then they could theoretically stabilise us around the bottom end of the championship with a fair wind, good decisions and a proper structure in place. Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted March 13, 2019 Site Supporter Share Posted March 13, 2019 1 hour ago, HomerJay said: where we up to now? can i change my avatar yet? 1 hour ago, boltondiver said: Avatar rights seem to have been withdrawn? 54 minutes ago, HomerJay said: ken for life then. I've just changed from my pig to a cow... Just to make you envious. Link to comment Share on other sites More sharing options...
gonzo Posted March 13, 2019 Share Posted March 13, 2019 Fuckin ell Micky you’ve had that formerly nose twitching pig since you stole it off a Bulgarian Ultra message board back in 2005. Link to comment Share on other sites More sharing options...
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