King talks accounts and predictions (2 Viewers)

Danceswithhorses

Well-Known Member
Oddly he says this:
Moving forward, future funding requirements will be provided by the new owner via the new parent undertaking CovCityCo Ltd without incurring interest or management charges

Erm, Doug you own us, but you make it sound like someone else does ??
Probably just badly phrased.

 

oldskyblue58

CCFC Finance Director
The 100m in losses is a nonsense manufactured via clever use of the group situation and in the administration. Ultimately for the establishment of otium it equates to the preference shares issued in 2014 big chunk of that manufacturing, 28m, even predates sisu.

Effectively the losses are only that level because sisu wanted them to be it isnt all losses from trading no where near.

Exclude most of the preference shares and the losses since 2014 are around 40m. Not insignificant but no way sisu lost 100m hard cash to keep us going
 

Grendel

Well-Known Member
The 100m in losses is a nonsense manufactured via clever use of the group situation and in the administration. Ultimately for the establishment of otium it equates to the preference shares issued in 2014 big chunk of that manufacturing, 28m, even predates sisu.

Effectively the losses are only that level because sisu wanted them to be it isnt all losses from trading no where near.

Exclude most of the preference shares and the losses since 2014 are around 40m. Not insignificant but no way sisu lost 100m hard cash to keep us going

I do wonder if king does own all the shares in the new company
 

Feb57

Well-Known Member
about time he announced a share issue, so we can all go back to owning a part of our Club, just like we did before SISU scabbed us out of them!!
Yes Robbie, I would like the chance to buy back the shares SISU paid us nothing for.
Does anyone know if the cat B shares that SISU issued to us are of any use in this new company or are they completely defunct?
 

Torquay Sky Blue

Well-Known Member
Oddly he says this:
Moving forward, future funding requirements will be provided by the new owner via the new parent undertaking CovCityCo Ltd without incurring interest or management charges

Erm, Doug you own us, but you make it sound like someone else does ??
Probably just badly phrased.

Perhaps he's doing a Micky Adams
 
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oldskyblue58

CCFC Finance Director
I do wonder if king does own all the shares in the new company
My guess would be that the shares in the new company are held in a fund somewhere down the line controlled by King as fund manager, much the same way that Seppala operated as owner.

But there is nothing that provides any details on that
 

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