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I would think that the last sentence does it ...... that all debts have been settled and therefore can apply

wonder if they will be looking to sell the supporter shareholders shares in the new group? It would be nice to think they might just do a share exchange giving each shareholder one of the new non voting shares in Otium at least

I think you have a reason right there why it wont. There are of course others

I just put out the facts as I see them NW..... how others choose to interpret them is up to them ;) There is nothing wrong in the charge on the property to secure borrowing, it is likely to include a charge over the shares issued in the property company. The charge however could be called in...

Whilst I welcome anything that clarifies what went on haven't events overtaken this offer. In mid September (over a month after the CVA rejection and the £150k offer ) ACL confirmed to the Trust and issued a statement to the CT saying that it would welcome Otiums best offer to return on a rental...

The important thing is the amount of interest legally due to be paid.... ie what is incurred. It might be added to debt but that is just the same as incurring the full charge Adding to debts is just making things worse because you end up paying interest on interest you couldnt afford in the...

well if you look in the 2012 the amount owed to SISU funds reduced from £29,679,942 in 2011 to £28,554,706 in 2012 ...... isnt that a repayment of part?

I will state from the start there is no reason why interest should not be charged on loans Thought it would be interesting to see the interest burden on the group over the years. 2009 paid 196k 2010 paid 554k 2011 paid 1.033m (in this year ARVO advanced 2m in finance there is no detail as...

Just a few queries ..... If the council decide to sell the freehold are they duty bound to sell to SISU? Could they for instance sell to ACL or a third party? Because it is council owned with other potentially interested parties do they have to put it out to the"market" to get tenders or bids...

Just seems to me that both sides are placing articles in Private eye to bolster their own PR. Would rather they got on with finding a solution to bringing the team back to the Ricoh

Thing I find ironic is that you would have land and property owned in one company and the football trade owned in another under the same ownership........ much like that over complicated messy financial situation we used to have since 1995 when CCFC H owned the property and CCFC Ltd was the...

To be honest if I were advising SISU about how the Ricoh/a stadium would be owned then I would be putting it in a seperate company also. The seperate property company may or may not charge the operating company Otium a rent - it doesnt have to. The reason it is put in a seperate company would be...

The statutory audit will be completed as normal. It has not been cancelled nor would it be, it is required under company law The "audit" that was stopped was the council finance oversight committee requiring the directors to attend a meeting at the end of November to justify the Ricoh financial...

He does have other business interests to look after too..... including calimere point, cp artha and his other connections. So I dont think there is any significance to him having been quiet (er) recently

Questions on the 2012 SBS&L accounts you could ask - what was the actual amount of cash "invested" by 31/05/12? - how much has been invested by the Funds/SISU since 31/05/12? - How did the Funds " investment" decrease from £29,679,942 in 2011 to £28,554,706 in 2012 if nothing was ever repaid...

Just to clear something up - the option to buy the Higgs Charity shares. First off there is no accusation of wrong doing here, but the circumstances are unclear and do not seem to match other information available. I am sure there is an explanation According to the SBS&L 2008 accounts that...

Otium has increased its issued share capital from £1000 to £501,000 in August 2013. Documents filed 23/10/13 I cant find any evidence of any other increases in share capital elsewhere in the group chiefdave They had to increase to at least £500,000 (and by way of cash) in order to meet the FL...

I tried to list any info that might be in the accounts regarding SISU, directors etc..... not much more I think I can add. I am inclined to agree about getting money back but if you look at ACL accounts then breakeven is around 6m before any cost savings were made on loans etc. Since then the...

Would guess they ran out of the ability to take more money from the private equity funds. Otium accounts alone showed £200k on the 2m loan they had from Otium alone - not sure if that was for a year or not. I would have expected the interest rate to be disclosed on a related party transaction...

hope that helps