|
|
Post by gazz on Mar 13, 2014 12:17:40 GMT
|
|
|
|
Post by sirroger on Mar 13, 2014 12:27:56 GMT
An open plea from the Club aimed at the 'Silent' to basically speak them.
Unbelievable state of affairs.
|
|
|
|
Post by gazz on Mar 13, 2014 12:38:28 GMT
An open plea from the Club aimed at the 'Silent' to basically speak them. Unbelievable state of affairs. Exactly, what a farce. |
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Mar 13, 2014 13:52:51 GMT
|
|
|
|
Post by gazz on Mar 13, 2014 14:29:41 GMT
Very good, Downy, allow me to embed that for you.  |
|
|
|
Post by Epworth Hatter OLD account on Mar 13, 2014 17:17:18 GMT
"The meeting will be an opportunity for those shareholders who are no longer directly involved in financing the football club to assist the Board in tidying up the balance sheet."
Why are they speaking in code and not just say what they mean?
From a balance sheet point of view, we seem pretty screwed.
We have negligable assets - player contract values will be small, the Stockport County name isn't worth much and I don't suppose we have much cash in the bank. We don't own the ground or much else (apart from maybe McKnight's swivel chair).
I dread to think of all the liabilities, but the wages, etc. should be more under control given the axe-wielding by McKnight of late.
The killer is the Stockholders Equity (Paid-in capital). The cloak and daggers around this area is probably what killed off the SK bid.
The sad thing is that all the cost (liabilities) cutting may help(?) in the short-term, but it will all count for nought if the issues with the long term loans and equity aren't resolved.
The problem is we have no idea who they are, how many there are, how much equity they have 'invested' and what their intentions are (short term or long term). "Tidying up the balance sheet" must mean "get off the balance sheet." Not likely given recent inaction on their part.
McKnight is a walking PR disaster and needs to go, but these malevolent silent shareholders are the real problem.
|
|
|
|
Post by siriusiron on Mar 13, 2014 17:45:11 GMT
'in the next fortnight...' eh?  Get your arses down to EP right today, tonight..NOW and sort this mess out! Ridiculous. Epworth Hatter is right. Gives them time to sort themselves out, what suits them financially. Strip it and walk away, leaving the skeleton of a great club. I hope this isn't as bad as I fear. |
|
|
|
Post by gazz on Mar 13, 2014 18:17:36 GMT
Well said, Eps/Sirius, couldn't agree more.
|
|
|
|
Post by sirroger on Mar 13, 2014 18:51:50 GMT
Eps, There was a thread on YBMk1 a while ago that listed (allegedly) the names of the shareholders and their respective amounts. Can't find it now, but I can recall Fearn had 100,000, Park 50,000, Bramhall 50,000. I can't be specific on the following, (amount wise),but there was Stockport Trust, Stewart Vann, Ken Graham, Mike Clark, Snape and a few others whose names escape me. In total, the value of the shares was c £500,000.
|
|
|
|
Post by another_ruined_saturday on Mar 13, 2014 19:51:37 GMT
The sad thing is that all the cost (liabilities) cutting may help(?) in the short-term, but it will all count for nought if the issues with the long term loans and equity aren't resolved. The problem is we have no idea who they are, how many there are, how much equity they have 'invested' and what their intentions are (short term or long term). "Tidying up the balance sheet" must mean "get off the balance sheet." Not likely given recent inaction on their part. McKnight is a walking PR disaster and needs to go, but these malevolent silent shareholders are the real problem. that's an absolutely spot on translation of it epworth. nice one. |
|
|
|
Post by Epworth Hatter OLD account on Mar 13, 2014 20:52:47 GMT
I see in Tony Evans piece that he says there are 14 individuals. That answers the easiest of the questions!
|
|
|
|
Post by ceefer on Mar 13, 2014 21:01:35 GMT
Eps, There was a thread on YBMk1 a while ago that listed (allegedly) the names of the shareholders and their respective amounts. Can't find it now, but I can recall Fearn had 100,000, Park 50,000, Bramhall 50,000. I can't be specific on the following, (amount wise),but there was Stockport Trust, Stewart Vann, Ken Graham, Mike Clark, Snape and a few others whose names escape me. In total, the value of the shares was c £500,000. |
|
|
|
Post by ceefer on Mar 13, 2014 21:08:28 GMT
It's all very well having this board meeting but I thought all this was already sewn up after the sea of blue march. Looks like we were led a merry dance....
I think it was LPS who said that it was v difficult to get all shareholders at a meeting, so if that's the case not holding out much hope that a thing will be achieved. We can only hope. If they don't turn up could it be construed that they are not acting in the best interest of the club .... ?
Still not happy with this Stockport Town supposedly set up by County shareholders? If so surely that is a conflict of interest ? Is that allowed on the business world?
|
|
|
|
Post by sirroger on Mar 13, 2014 21:27:17 GMT
ceefer, your penultimate post,
thanks, that was the one I was referring to.
|
|
|
|
Post by ceefer on Mar 13, 2014 21:44:45 GMT
ceefer, your penultimate post, thanks, that was the one I was referring to. Sirroger - no worries. MMB have put it in a sticky now. |
|
