: Sun Jul 12, 2009 9:29 pm  

Adeybull wrote:

Where a company is technically insolvent - its liabilities exceed its assets - then it will have difficulty borrowing money or obtaining trade credit, and indeed can only continue if key creditors - usually lenders to the company - continue to support it and do not require their loans repaying. This is often the case with sport clubs which can only survive because of the generosity of a rich owner.

I

Saints' assets include the land at Knowsley Road where the existing ground is located which has been valued at £8 million (in a deal already agreed with Taylor Wimpey).

So hardly insolvent !

: Sun Jul 12, 2009 11:06 pm  

Tony Stark wrote:

The stadium site will be shared with a Tesco Extra (similar to the HJ), yes.
On your second point it is more likely to be to interest further backing for the club rather than funding towards the stadium as this has mostly (if not all) we are led to believe already been in place from a variety of sources for some time. The issue of tendering and contractors is still confusing for many as most assume that Langtree (the developers) would have already taken care of this.

i thought woolies were in on the venture

: Mon Jul 13, 2009 1:35 am  

jonah77 wrote:

i thought woolies were in on the venture

Mmmm silly but good in a bad sort of way

: Mon Jul 13, 2009 9:56 pm  

Sadfish wrote:

basically, and I did say this and got shot down, they are cancelling the directors loans, and taking shares.

A total of £1,360,005 in return for 90,667 new shares.

There is also a new placing of 26,000 new shares @ £15 per share. To raise an additional £390,000.

These are all subject to those os us who vote at the shareholders AGM.

Its to sort out the bridging loan we need between the stadium contruction and the sale of the land at dunriding lane.

These shares will be on the open Market?

[Sadfish]

: Mon Jul 13, 2009 10:05 pm  

Ski wrote:

These shares will be on the open Market?

I very much doubt it, but you never know, i'm pretty sure all Saints shares now have to be traded in minimum batches of 30 (£450).

In the past when Saints have set out a new share issue, they've already been allocated to purchasers iirc.

: Mon Jul 13, 2009 10:11 pm  

Sadfish wrote:

well i've got the accounts through the post this morning, but i'm sure Adeybull will give you the info.

The AGM is August the 3rd fyi

Us shareholders have got to make the correct decision on 3rd August, eh Saddo?
Will you be attending or sending a proxy?

: Mon Jul 13, 2009 10:11 pm  

Sadfish wrote:

I very much doubt it, but you never know, i'm pretty sure all Saints shares now have to be traded in minimum batches of 30 (£450).

In the past when Saints have set out a new share issue, they've already been allocated to purchasers iirc.

One day.

: Tue Jul 14, 2009 9:03 am  

Sadfish wrote:

I very much doubt it, but you never know, i'm pretty sure all Saints shares now have to be traded in minimum batches of 30 (£450).

In the past when Saints have set out a new share issue, they've already been allocated to purchasers iirc.

Put me down for 120 shares ok...

: Tue Jul 14, 2009 10:02 am  

Sadfish wrote:

I very much doubt it, but you never know, i'm pretty sure all Saints shares now have to be traded in minimum batches of 30 (£450).

In the past when Saints have set out a new share issue, they've already been allocated to purchasers iirc.

Is McManus the majority shareholder?