Bees vs Wasps (1 Viewer)

Samo

Well-Known Member
Did you know...
How did bees change and adapt to become hornets and wasps?
You have it backwards. Wasps somewhat similar to hornets evolved before bees. Bees evolved from these wasps. A bee is basically a wasp that eats pollen instead of meat.
Bees evolved from wasps sometime in the early Cretaceous period or maybe the late Jurassic period. Wasps in a particularly pollen rich region (?) evolved thick hair that caught more pollen. The hair made the new species of wasp unable to catch the small insects their ancestors ate. However, pollen sticks to hair. So the greater amount of hair enabled the wasp to collect more pollen. So the new species of wasp were able to live on pollen instead of small insects. This hairy wasp is what we now call a bee.
 
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Mcbean

Well-Known Member
Sadly it seems as the focus of the press has switched from Wasps to Worcester warriors with the latter making some wasp like moves - training grounds sold to
A new company , car park purchased by the owners ! Even Worcester apparently have done means to get out of their position so I don’t see Wasps caving anytime soon sadly
 

Samo

Well-Known Member
Sadly it seems as the focus of the press has switched from Wasps to Worcester warriors with the latter making some wasp like moves - training grounds sold to
A new company , car park purchased by the owners ! Even Worcester apparently have done means to get out of their position so I don’t see Wasps caving anytime soon sadly

They don't need to cave, they just need to want out.
 

MalcSB

Well-Known Member
Sadly it seems as the focus of the press has switched from Wasps to Worcester warriors with the latter making some wasp like moves - training grounds sold to
A new company , car park purchased by the owners ! Even Worcester apparently have done means to get out of their position so I don’t see Wasps caving anytime soon sadly
It all depends on the bondholders response to Wasps revised plan to, presumably, extend the repayment deadline whilst they pursue alternative financing options. Given the trajectory of interest rates, refinancing is only going to get more expensive. Given the inflation trajectory, there is the possibility that attendances will be further reduced as local support is in the minority - making affordability of refinancing more tricky.

The plan is supposed to be published in August. Bondholders are already anxious and if there is a delay they will only become more so.
 

Senior Vick from Alicante

Well-Known Member
It all depends on the bondholders response to Wasps revised plan to, presumably, extend the repayment deadline whilst they pursue alternative financing options. Given the trajectory of interest rates, refinancing is only going to get more expensive. Given the inflation trajectory, there is the possibility that attendances will be further reduced as local support is in the minority - making affordability of refinancing more tricky.

The plan is supposed to be published in August. Bondholders are already anxious and if there is a delay they will only become more so.

Think your right, the bondholders are on the march. This was posted yesterday.

From the Trustee: If you are in any doubt as to the action you should take, you are recommended to seek your own advice immediately from your stockbroker, bank manager, solicitor, accountant or other financial adviser authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom), or from another appropriately authorised independent financial adviser. WASPS HOLDING PLC (the “Issuer”) Notice to the holders of £35,000,000 6.50 PER CENT. SECURED BONDS due 13 May 2022 (the “Bonds”) of the Issuer (ISIN: XS1221940510; Common Code: 122194051) THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION We, U.S. Bank Trustees Limited, in our capacity as trustee in respect of the Bonds (the “Trustee”;) refer to our previous notices dated 17 May 2022, 1 June 2022, 1 July 2022 and 2 August 2022. We have been contacted by a number of Bondholders, who have expressed a desire to enter into correspondence with other Bondholders to discuss the matters raised in our previous notices. As is the case for all bonds of this type, the Trustee does not have access to and is unable to maintain a list of Bondholders or their contact details and in any event, is unable to share any details of any Bondholder without its express consent. If you would like to enter into correspondence with the other Bondholders and are happy for your contact details to be shared with the other Bondholders, please get in touch with us at the below email address by 5pm London time on 26 August 2022. In order for your details to be shared with such other Bondholders, you will be required to provide your express consent and satisfactory proof of holding to us. In facilitating the above, the Trustee assumes no responsibility to the Bondholders as to the accuracy of any details provided and the Trustee is not able to advise Bondholders as to what course of action (if any) they may wish to take. Capitalised terms used and not otherwise defined in this notice shall have meanings give to them in the prospectus dated 24 April 2015, which was issued by the Issuer in connection with the Bonds. 22 August 2022 U.S. BANK TRUSTEES LIMITED Email: CDRM@usban
 

Mcbean

Well-Known Member
My concern is that Worcester seem deeper in the shit but reckon they can see a way out ! the articles in the Telegraph have stopped mentioning Wasps with regard to HMRC - no relegation in the Rugby so what happens ?
 

Senior Vick from Alicante

Well-Known Member
My concern is that Worcester seem deeper in the shit but reckon they can see a way out ! the articles in the Telegraph have stopped mentioning Wasps with regard to HMRC - no relegation in the Rugby so what happens ?

According to same source in the discussions they have had they believe that Wasps could not do anything in the sense of entering into admin until the league had released the fixtures due to a technicality in the RFU sporting regulations IF thats the assumption. If you enter an admin before fixture release you get relegated if its after its a 35 point deduction and no relegation. As MalcSB has already said this is about what the bond holders want to do as they are the ones that are in a position to act, forget Worcester.
 

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