[Archived] Venkys London Ltd Accounts

[47er]

Just now, McClarky said:

What a nightmare.  When I hear people saying all our problems would be solved if someone came in and bought Vs out I cringe.  Let's face it, the only people interested in getting involved in clubs like Rovers and Bolton and people who think they can make a quick buck out of it before the club sinks.  it was the same with Rangers up here.

Without a real commitment to fan ownership, at whatever level it needs to be at, I can't see any future for either of these clubs. 

There is Ian Battersby. Seems to fit the bill to me. You?

[Dunnfc]

Just now, 47er said:

There is Ian Battersby. Seems to fit the bill to me. You?

A proper fan, local, and someone whom speaks with so much sense.

Obviously his corporate finance background is a bonus too.

[Stuart]

Just now, McClarky said:

All it takes is a familiar face and a Rovers scarf for everyone to start thinking that the good times are around the corner again. 

There are no good times around the corner.

But hopefully there is still a club.

[McClarky]

Not sure what his agenda is.  If it's not to put the club in the hands of it's fan base what is it?  

[TBTF]

Just now, McClarky said:

Not sure what his agenda is.  If it's not to put the club in the hands of it's fan base what is it?  

Not sure I understand your point Mcclarky.How does anyone get Venkys out of the club and put it in the hands of its fanbase? 

 

[Mike Graham]

Sell Danny who?  Do you mean the Rovers employee (demonstrator turned stooge) who sells corporate packages and serves red wine to tables of diners?

[awhom111]

The club accounts are being processed on the Companies House website.  Hopefully they appear some time over the holiday (here in America) weekend and I have some time to look through them and write about them before work stuff takes up my time.

[1arC]

5 hours ago, awhom111 said:

The club accounts are being processed on the Companies House website.  Hopefully they appear some time over the holiday (here in America) weekend and I have some time to look through them and write about them before work stuff takes up my time.

Perhaps when you write about them, you can send a copy to Jim White. He stated yesterday, that is isn't too late, so he either had an agenda, or has no idea about the real state of the club.

[OJRovers]

I'll have a look through them and post some analysis later this weekend.

[awhom111]

The latest parent company share issue has been filed at Companies House.

[tomphil]

£30 million ?.......

[chor808]

8 hours ago, awhom111 said:

The latest parent company share issue has been filed at Companies House.

I'm not sure I understand it but does that mean 666,000 new shares created for that value? What an odd number 666!

[den]

Just now, chor808 said:

I'm not sure I understand it but does that mean 666,000 new shares created for that value? What an odd number 666!

 

[47er]

On 18/02/2017 at 8:51 PM, 1arC said:

Perhaps when you write about them, you can send a copy to Jim White. He stated yesterday, that is isn't too late, so he either had an agenda, or has no idea about the real state of the club.

Never listen to Talksport so can anyone tell me---is he still 'coming after' Venkys and Pasha or was that just for one week?

[Mercer]

49 minutes ago, chor808 said:

I'm not sure I understand it but does that mean 666,000 new shares created for that value? What an odd number 666!

It is !

Suggests to me Rovers are living hand to mouth.  Termination costs for Coyle and cronies ?

Would be no surprise to see a regular monthly issue between now and end of season.

Think the alarm bells are ringing.

 

[Dunnfc]

1 hour ago, chor808 said:

I'm not sure I understand it but does that mean 666,000 new shares created for that value? What an odd number 666!

All what is left to issue.

Any more issuing and diluting of shares they need to write to the 0.1% of other shareholders notifying them. They also then need to start diluting existing debt through new capital and depending on the nature of then increasing comes pre-exemption rights of other shareholders who get first dibs on the new allotments subscribed.

E.g I buy a company with 10 shares in circulation, purchasing 9 with 90 reserved for the future, someone else keeps there 1 share.

I then inject money into a company by buying the rest of the 90 shares over a period, the other person still has 1 share.

After I've bought the 90 shares there is none left for me to buy so I have to then issue new shares at the original amount if I want to put more money into the business for each ordinary share so £1.00 in this case which lowers the %holding of each shareholder.

[Bigdoggsteel]

Could someone who knows about these things tell me,is there any value in buying shares in football clubs? 

[J*B]

2 minutes ago, Bigdoggsteel said:

Could someone who knows about these things tell me,is there any value in buying shares in football clubs? 

Of course there is - the share holders at Burnley will be sitting on much more than their investment because the club has been run correctly and is now in the money pit.

What do you think Seneca want to buy the club for? They want it because they are confident they can invest 60m over a set amount of years, run it their way and achieve promotion to the cash lands.

[PLJPB]

1 minute ago, Dunnfc said:

All what is left to issue.

Any more issuing and diluting of shares they need to write to the 0.1% of other shareholders notifying them. They also then need to start diluting existing debt through new capital and depending on the nature of then increasing comes pre-exemption rights of other shareholders who get first dibs on the new allotments subscribed.

E.g I buy a company with 10 shares in circulation, purchasing 9 with 90 reserved for the future, someone else keeps there 1 share.

I then inject money into a company by buying the rest of the 90 shares over a period, the other person still has 1 share.

After I've bought the 90 shares there is none left for me to buy so I have to then issue new shares at the original amount if I want to put more money into the business for each ordinary share so £1.00 in this case which lowers the %holding of each shareholder.

Are you sure this is the case? I think you would be correcting regarding Blackburn Rovers Ltd but this share issue is against Venkys London Ltd.

This follows the usual pattern. The 'Owners' put money in to Venkys London Limited which then loans the cash to BRFC limited when required. 

[chaddyrovers]

So Venkys have paid 666,000 for one more share in VVL? Am I wrong?

But we dont know who bought it tho?

[Dunnfc]

Just now, PLJPB said:

Are you sure this is the case? I think you would be correcting regarding Blackburn Rovers Ltd but this share issue is against Venkys London Ltd.

This follows the usual pattern. The 'Owners' put money in to Venkys London Limited which then loans the cash to BRFC limited when required. 

Maxed out in both cases, in fact BRFC had a further "Allotment" of 3million issued this year against a cancellation of a loan. Total number in circulation is 146 thousand.

Very much hand to mouth.

[Dunnfc]

Just now, chaddyrovers said:

So Venkys have paid 666,000 for one more share in VVL? Am I wrong?

But we dont know who bought it tho?

No Each ordinary share must be purchased for the amount initially incorporated within the company so in VLL's case £1.00 per share.

[Mercer]

14 minutes ago, Dunnfc said:

All what is left to issue.

Any more issuing and diluting of shares they need to write to the 0.1% of other shareholders notifying them. They also then need to start diluting existing debt through new capital and depending on the nature of then increasing comes pre-exemption rights of other shareholders who get first dibs on the new allotments subscribed.

E.g I buy a company with 10 shares in circulation, purchasing 9 with 90 reserved for the future, someone else keeps there 1 share.

I then inject money into a company by buying the rest of the 90 shares over a period, the other person still has 1 share.

After I've bought the 90 shares there is none left for me to buy so I have to then issue new shares at the original amount if I want to put more money into the business for each ordinary share so £1.00 in this case which lowers the %holding of each shareholder.

A company's articles of association can exclude pre-emption rights.  Even if they don't, shareholders can, by special resolution by a majority of 75% or more of votes cast, choose not to apply pre-emption rights.

Within company law, I think you'll find the Raos can do what they want! 

[OJRovers]

This £600k might cover another month's costs.

The end of March tipping point still stands.

[Dunnfc]

Just now, Mercerman said:

A company's articles of association can exclude pre-emption rights.  Even if they don't, shareholders can, by special resolution by a majority of 75% or more of votes cast, choose not to apply pre-emption rights.

Within company law, I think you'll find the Raos can do what they want! 

That is quite true although they still have to write to anyone with any holding confirming they are doing x,y,z etc.

I'd have to dig out the articles of association but  it holds no right when you take into account the majority 75% holding.