jonny72
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« Reply #30 on: Sunday, October 4, 2009, 17:58:20 » |
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So, using my GCSE maths expertise, with 2,000,000 shares being sold at GBP1.00 each, potential income from this is GBP2,000,000.
What will that money be used for?
Whilst the share issue documents don't spell it out, it appears it will be used as working capital and it pretty much says part will be used to cover losses in the current financial year. It reads as though SFHL feel they've put enough money in already and they want others to chip in. SFHL will pick up any shares that aren't sold but they will only pay cash if necessary to cover the current years losses - the rest will be paid for by converting loans to shares. So unless something spectacular happens it seems more funds will need to be raised for next season with SFHL looking to others to put the money in. Though you'd imagine they'll cover it if they have to as they wouldn't really have any other choice, given the money they've already put in. I imagine things will change drastically when (if) the redevelopment gets the go ahead as there will most likely be a solid business plan in place which will show a return on an investment. So either SFHL or others will be a lot more likely to put some cash in to the club. |
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michael
The Dude Abides
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« Reply #31 on: Sunday, October 4, 2009, 18:18:35 » |
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Thanks Jonny.
All very interesting.
Elsewhere I've read that Carlisle lost GBP1.2million last season, and Walsall are really struggling with low crowds too.
Fitton's prophecy of 6+ clubs going into admin could yet come true.
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pauld
Aaron Aardvark
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Absolute Calamity!
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« Reply #33 on: Sunday, October 4, 2009, 18:26:21 » |
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The club needs to stop losing money and be run like a business rather than a charity. The shares changes might not save much money but it all helps and more importantly it all adds up. Even if it only saves £5k a year, if you save that amount in 10 areas over 5 years you've saved £250k.
I don't think it would save anything near that though. One rather salient point I missed out of my original reply (it was in my head, just forgot to include it so you can't be expected to read my mind  ) is that one of the things they passed at the last AGM was email notification for shareholders. So you have to actively opt in to ask for letters to be sent to you as a shareholder. If you factor in the number of "dead entries" on the share register (ie people who've moved or who are actually dead) who won't reply to a letter because the info on them is out of date, the number of people who won't actively take up any share swap because they're not that bothered, and then the number of people who would be more than happy to receive notifications by email, you're left with a handful who still actively want to be shareholders who don't have internet access. Those are the only ones who are actually costing you on a year-by-year basis, once you've sent out share certificates (a one-off) to those who actively wish to be shareholders but are happy for communications to be sent by email etc. |
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #34 on: Sunday, October 4, 2009, 19:11:09 » |
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Michael, what's wrong with your '£' key?
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michael
The Dude Abides
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« Reply #35 on: Monday, October 5, 2009, 17:19:28 » |
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There appears to be some kind of forum configuration conflict with my character map Sam.
Essentially the GBP sign is nowhere to be found.
Strangely though everything else works as it should do.
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Summer of Noughtie Nine
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« Reply #36 on: Saturday, October 10, 2009, 09:15:14 » |
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Let's have a naked AGM!
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Summerof69
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« Reply #37 on: Wednesday, October 21, 2009, 09:05:23 » |
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It was nice to be at an AGM, and feel wanted for a change, and for anyone who predicted the stadium would be turned 90 degrees in the ground development... it's not going to happen.
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Batch
Not a Batch
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« Reply #38 on: Wednesday, October 21, 2009, 09:10:52 » |
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It was nice to be at an AGM, and feel wanted for a change, and for anyone who predicted the stadium would be turned 90 degrees in the ground development... it's not going to happen.
So what was said then? |
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ahounsell
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« Reply #39 on: Wednesday, October 21, 2009, 09:40:40 » |
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So what was said then?
A report of the AGM can be read at the link below :- http://www.truststfc.co.uk/news_item.php?id=1354As for the ground development, I think its fair the say that the front runner is for the pitch to stay in its current orientation and the ground to be developed one stand at a time with only the Don Rogers stand remaining in its current form. Nothing is set in stone though so we'll have to wait and see what they come up with. We should see some more detail before the end of the current season. |
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Summerof69
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« Reply #40 on: Wednesday, October 21, 2009, 09:50:59 » |
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So what was said then?
What I remember : The accounts for 2009 were not quite ready, but they will be posted on the OS by the end of the week and they will be sent to Companies House EARLY, meaning NO fines. It will report another big loss of over £2m. They predict that with increased income this season, that that loss will hopefully half. They reckon that the club needs to bring in around £7m worth of income a season to break even (this season is predicted to bring in around £4m). Regarding ground development, it is hoped there will be a plan with the council around the first quarter of next year. If we stay at the CG, Fitton hopes the ground will likely be developed one stand at a time. The DRS will be left alone, with the development most likely to start with the TE, but this is his personal view, which will have to be discussed with any future developers. The share issue/capital revaluation, is just a tidying up exercise, which has reduced the number of shareholders to around 500. Just 21,000 was bought by other shareholders out of 500k available (STFH took their 1.5m shares as they had already a 75% holding). |
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glos_robin
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« Reply #41 on: Wednesday, October 21, 2009, 10:13:10 » |
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They reckon that the club needs to bring in around £7m worth of income a season to break even
I can't see that happening anytime soon even if we flirt with the Championship. £7 million means almost doubling our income which would be a remarkable feat if it ever materialises, only a sustained period of success would do that. |
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Simon Pieman
Original Wanker
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« Reply #42 on: Wednesday, October 21, 2009, 10:34:50 » |
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I totally forgot about this, for some reason I thought it was on before a home game
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Summerof69
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« Reply #43 on: Wednesday, October 21, 2009, 10:38:44 » |
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I totally forgot about this, for some reason I thought it was on before a home game
It was, but they had to move it. |
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Summerof69
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« Reply #44 on: Wednesday, October 21, 2009, 10:41:26 » |
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I can't see that happening anytime soon even if we flirt with the Championship. £7 million means almost doubling our income which would be a remarkable feat if it ever materialises, only a sustained period of success would do that.
That was all dependent on getting 'bums on seats' and all the extras around that. They are working hard in getting the local people back to the CG. |
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