FORUMS > Wakefield Trinity > Member Shareholders Meeting Tonight |
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| Pop Tart you seem like a person in the know: The highlighted £ 4 million plus debt is I presume the loan from the council to purchase the ground and the Covid loan, these need repaying and will be incurring interest. They are short term loans, perhaps typically I am guessing to be repaid over a five year period. Then we are told of trading losses that will need to be covered. Over the last few years the trading losses have been covered by director loans. So cash will be needed urgently to repay the loans and cover the trading losses. This idea that the ground is now worth £ 15 million does not generate cash. Firstly who has valued it at that figure, why stop at 15 million why not say its worth 100 million. I cant see a bank lending money against the ground as firstly according to Companies House the council already has two charges on the ground, secondly would the directors / owners want to risk the ground again, thirdly in all honesty can you see a company valuing the ground on behalf of a bank at any more than any buyer would be prepared to buy the club for which is no where near £ 15 million. The debts need paying, cash is required. So what the club needs is a successful person to buy it, again looking on companies house you can see the last posted accounts of our proposed buyer show a turn over of £ 92 million, an operating profit of £ 25.64 million which after tax showed a net profit of £ 20.44 million. That's one successful and wealthy company. That would be plenty of due diligence for me !!!!
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| Quote: Dunkirk Spirit "So, anyone who has a different opinion to you, then it’s Baa Baa Baa
See the quote from FT and you will understand the sheep reference.
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| J M, came on here last week to stop all the untrue rummers and false gossip that was been said about the club, and it is still going on Might as well start a rummer that the East stand is made out of paper and the North stand .Just can not beleave some of the dross that gets said about the ground, M C ,and J M Should be more worried about a lot of the dross ,on the field
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| Echoing Legend,JM stated quite recently that in his opinion the takeover was progressing as expected and just needed more time.Not being eligible to go to the meeting myself,I have read the comments of those that went and nothing untoward seems to have been said.(I think someone said that parts of the meeting must remain confidential and I accept that.Has something significant changed?And if not, why has this meeting stirred up so much bitterness and arguing that it is starting to overshadow tomorrows massively important match? Let's get behind the team.
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41119.jpg A dog is not considered a good dog because he is a good barker. A man is not considered a good man because he is a good talker - Buddha:41119.jpg |
Moderator
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| Quote: FOREVERTRIN "Echoing Legend,JM stated quite recently that in his opinion the takeover was progressing as expected and just needed more time.Not being eligible to go to the meeting myself,I have read the comments of those that went and nothing untoward seems to have been said.(I think someone said that parts of the meeting must remain confidential and I accept that.Has something significant changed?And if not, why has this meeting stirred up so much bitterness and arguing that it is starting to overshadow tomorrows massively important match? Let's get behind the team.'"
I can tell you nothing in the meeting about the takeover was controversial or anything that contradict what JM said on video. The confidential part was more to allow people to discuss things openly.
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International Star | 345 | ![](images/sitelogos/fullsize/74.png) |
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Sep 2013 | 11 years | |
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| Thanks PT.
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