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Does anyone know for sure what would happen with the ownership of the arena if Wasps default on the payments of the bonds or they go back to where they belong? My guess would be ownership would pass to the bondholders. My former post : Risks relating the head lease of the Arena granted to...

Sting in the tale for holders of Wasps 6.5% due 2022? - Retail Bond Expert

extended on lower terms? so is a lot of bird s**t!

I will let you know that when I get more information on what has happened. I am not a speculator !

So why did they file late and only after being pursued by Companies House?

Hang on - you said " Exactly. An audit that took place last year and was discussed (and accepted) at the bondholders meeting as an 'accounting irregularity'. It's all in the wording but both the 'irregularity/falsification' and the figures in the accounts were known in December." Are you saying...

So why did they not publish the full accounts and Audit reports on time? In the case of WASPs Finance that was December 31st The Bond issue was in January and once that was resolved why were they not issued then? The Group Accounts were due March 31st - another deadline missed One wonders what...

You said it was a "technicality" a few days ago - but the misrepresentation goes back to last year?

No reported trades today but at 85.5 I suspect they are all holding on for a recovery

We should find out! The Companies Act 2006 imposes obligations both on an outgoing auditor and on the company it is ceasing to audit, to ensure that information about the auditor's departure (and the reasons for it) is given to the company's shareholders and to the appropriate authorities...

The error to which you refer should have no effect on WASPS FINANCE Plc, unless it casts doubt on the ability for WASPS GROUP to pay its loan interest or the future repayment of the debt. The Bond Price reflects as much on the asset cover of the guarantee/security than the trading position of...

You are also overlooking the Compass Loans. The prospectus quotes £4m is due to be repaid next year

I think he said "technical" If that was all it was WASPS would come out and say it. The Bond Holders should be asking why WASPS Finance PLC accounts are not filed. They are not a WASPS Group Company, only receive interest and pay it out so what technicality can affecting their accounts as well?

Have you read my post 613?

Risks relating the head lease of the Arena granted to ACL2006 Under the terms of the head lease granted by Coventry City Council (“CCC”) to Arena Coventry (2006) Limited (“ACL2006”) in respect of the Arena (the “Head Lease”), CCC have reserved the right to forfeit the Head Lease if ACL2006...

They would probably need it to repay Compass loan that is not that far away from repayment As detailed in this Section 7 under the heading “ - Overview of the business of IEC”, in 2012, ACL entered into joint venture and licensing arrangements with Compass Group Limited (“Compass”). As part of...

So what happened to this promise: The intention of Wasps to develop the Ricoh Arena as a conference centre plus a training facility in the future would benefit the City

Practically everyone working at the Ricoh? o_O

Be careful when mentioning Compass :emoji_hushed: