Higgs Share Update (1 Viewer)

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Nick

Nick

Administrator
Taken from twitter

1/3 I can reveal a dispute with #CCFC accusing Higgs of delaying release of info needed for #CCFC to bid for 50% Ricoh at £1.75m

2/3 a leaked #ccfc letter to @coventrycc CEO Reeves accuses Higgs of failing to release key info to #ccfc Ltd liquidator including

3/3 updated info on JV agreement between council & Higgs, & Higgs' pre-emption rights over council share in Ricoh, ahead of 1 deadline yday

4/4 The letter states #ccfc Ltd liquidtr was given deadline by Higgs of yestdy to indicate an intention to bid for Higgs shares at £1.75m..

5/5 ..This figure differs from the £2.77m which council sources leaked was terms of the #5.5m+loan #Wasps Ricoh deal agreed by council

6/6Letter calls on @coventrycc to step in so liquidtr gets info needed for #CCFC to consider formal bid for Higgs share in Ricoh Arena
 
M

martcov

Well-Known Member
Nick said:
Taken from twitter

1/3 I can reveal a dispute with #CCFC accusing Higgs of delaying release of info needed for #CCFC to bid for 50% Ricoh at £1.75m

2/3 a leaked #ccfc letter to @coventrycc CEO Reeves accuses Higgs of failing to release key info to #ccfc Ltd liquidator including

3/3 updated info on JV agreement between council & Higgs, & Higgs' pre-emption rights over council share in Ricoh, ahead of 1 deadline yday

4/4 The letter states #ccfc Ltd liquidtr was given deadline by Higgs of yestdy to indicate an intention to bid for Higgs shares at £1.75m..

5/5 ..This figure differs from the £2.77m which council sources leaked was terms of the #5.5m+loan #Wasps Ricoh deal agreed by council

6/6Letter calls on @coventrycc to step in so liquidtr gets info needed for #CCFC to consider formal bid for Higgs share in Ricoh Arena
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Court case brewing?
 
Nick

Nick

Administrator
I read it as CCFC want to bid, asked higgs for info and not heard anything, higgs set a deadline but ccfc not heard anything so grassed them up to council?
 
torchomatic

torchomatic

Well-Known Member
I think they are trying to buy it right now.

Bill Glazier said:
Excuse my ignorance, but is this historical information or is CCFC trying to buy the Higgs share right now?
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torchomatic

torchomatic

Well-Known Member
We can read the Telegraph exclusive on 31st October.
 
M

martcov

Well-Known Member
fernandopartridge said:
If they've failed to disclose information that might reasonably have been expected it would sound like they should.
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That's what I meant. I think they could insist that Higgs extend the deadline before taking it further though.

We don't know the füll facts and Les Reid is not always correct.
 
D

dongonzalos

Well-Known Member
Nick said:
I read it as CCFC want to bid, asked higgs for info and not heard anything, higgs set a deadline but ccfc not heard anything so grassed them up to council?
Click to expand...

Having to bid for something when you don't know what's on offer.
That can't happen can it..........
 
N

Noggin

New Member
torchomatic said:
I think they are trying to buy it right now.
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They could have put a bid in by now if they wanted to by the sounds of it, higgs gave a deadline, ccfc have not yet bid saying they need more information, higgs say they are unable to provide the info sisu want for due diligence, sisu write to the council asking them to sort it out, the letter somehow (hmm) ends up with Les Reid.

We don't have enough information to know who if anyone is being unreasonable, the fact higgs were so burnt by sisu during the previous due diligence though would make it very understandable that they wouldn't be going to much effort. I don't really see there is need for due diligence here either sisu want the share or they don't.

I don't understand the 1.7mill bit though, seems to be suggesting that the higgs share can be brought for a mill less than expected, if thats the case why haven't sisu already put a bid in? instead of waiting till after a deadline and then say you haven't given us what we need.
 
torchomatic

torchomatic

Well-Known Member
They've said they want Wasps to have it anyway and I'm sure after the latest round of shenanigans that is where the share will end up.

Noggin said:
They could have put a bid in by now if they wanted to by the sounds of it, higgs gave a deadline, ccfc have not yet bid saying they need more information, higgs say they are unable to provide the info sisu want for due diligence, sisu write to the council asking them to sort it out, the letter somehow (hmm) ends up with Les Reid.

We don't have enough information to know who if anyone is being unreasonable, the fact higgs were so burnt by sisu during the previous due diligence though would make it very understandable that they wouldn't be going to much effort. I don't really see there is need for due diligence here either sisu want the share or they don't.

I don't understand the 1.7mill bit though, seems to be suggesting that the higgs share can be brought for a mill less than expected, if thats the case why haven't sisu already put a bid in? instead of waiting till after a deadline and then say you haven't given us what we need.
Click to expand...
 
N

Noggin

New Member
torchomatic said:
They've said they want Wasps to have it anyway and I'm sure after the latest round of shenanigans that is where the share will end up.
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they probably do want wasps to have it, but it looks like it was ccfcs for the taking if they had put the bid in, or it would have at least forced a veto making sisu the good guys and the council the bad, but no they didnt have the info and now the deadline is past. hmmm
 
torchomatic

torchomatic

Well-Known Member
Well, as you said none of us know the ins and outs, but I imagine the Council will always be the good guys to some.

Noggin said:
they probably do want wasps to have it, but it looks like it was ccfcs for the taking if they had put the bid in, or it would have at least forced a veto making sisu the good guys and the council the bad, but no they didnt have the info and now the deadline is past. hmmm
Click to expand...
 
Nick

Nick

Administrator
Noggin said:
they probably do want wasps to have it, but it looks like it was ccfcs for the taking if they had put the bid in, or it would have at least forced a veto making sisu the good guys and the council the bad, but no they didnt have the info and now the deadline is past. hmmm
Click to expand...

So if they had tried it makes higgs look bad?
 
Mary_Mungo_Midge

Mary_Mungo_Midge

Well-Known Member
Two questions spring to mind:

1) Did Wasps have sight of this additional paperwork/detail ahead of their bid? (If not, why is it pertinent to SISU's bid and not Wasps? And if so, why is such detail being witheld? - Okay 2 additional sub-questions)
2) Could they not enter a bid subject to clarification of detail?
 
albatross

albatross

Well-Known Member
What possible information could SISU be looking for after god knows how many years especially since the agreement to purchase the shares has been in existence before SISU came and also lets not forget the recent court cases.

More nonsense from SISU
 
The Reverend Skyblue

The Reverend Skyblue

Well-Known Member
I just hope that the club does somehow end up with the 50% either the club is as good as dead.
I can't believe I really want SISU to get this share, but for the good of this once great club ,its this or goodbye to the club we all love and cherish
 
Otis

Otis

Well-Known Member
They do want Wasps to have it and Wasps probably now do have it. Higgs aren't allowed to say that though.

Sisu should have all the information to hand. Seems like some sort of shenanigans going on here.
 
N

Noggin

New Member
Nick said:
So if they had tried it makes higgs look bad?
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if sisu bid the same as wasps and agree to anything else that wasps agreed to regarding investment in the area and higgs rejected it or the council vetoed it then while I'd still completely understand the reasons for doing that it absolutely would swing alot of peoples opinions and make them look very bad (weather thats fair is another discussion).

we all want ccfc to own the arena as long as it is ccfc who would own it and protections put in place to ensure that.
 
Mary_Mungo_Midge

Mary_Mungo_Midge

Well-Known Member
albatross said:
What possible information could SISU be looking for after god knows how many years especially since the agreement to purchase the shares has been in existence before SISU came and also lets not forget the recent court cases.

More nonsense from SISU
Click to expand...

I don't know whether it's nonsense or not; but it's hard to believe there's much more information that hasn't been outed during Judicial Review; or before
 
N

Noggin

New Member
Otis said:
They do want Wasps to have it and Wasps probably now do have it. Higgs aren't allowed to say that though.

Sisu should have all the information to hand. Seems like some sort of shenanigans going on here.
Click to expand...

last time there was due dilligance involved, sisu wanted information that cost higgs money to provide, it was agreed sisu would pay for that, they didn't and we had a whole court case on it, so it's not really a surprise that higgs aren't falling over themselves to help provide more due diligence information before sisu decide weather or not to bid on something.
 
Nick

Nick

Administrator
Mary_Mungo_Midge said:
Two questions spring to mind:

1) Did Wasps have sight of this additional paperwork/detail ahead of their bid? (If not, why is it pertinent to SISU's bid and not Wasps? And if so, why is such detail being witheld? - Okay 2 additional sub-questions)
2) Could they not enter a bid subject to clarification of detail?
Click to expand...

Agree, enter a bid based on this and this.
 
T

The Lurker

Well-Known Member
we all hope ccfc gets 50% share. but are sisu ready to part with that money? i personally don't think so especially with pressleys sacking possibly imminent
 
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