FAO OSB & other finance people - Otium changes (1 Viewer)

Jack Griffin · Jan 15, 2014

The following changes have been detected:
14 Jan 2014
New Company Document Available
Form: MR01 - Registration of a charge
REGISTRATION OF A CHARGE / CHARGE CODE 076124870002

New Company Document Available
Form: RES01 - ALTERATION TO MEMORANDUM AND ARTICLES
ADOPT ARTICLES 31/12/2013

Company Mortgage
OUTSTANDING

ccfcway · Jan 15, 2014

Gotta say, thats the first time I have seen SISU be called "outstanding"

bigfatronssba · Jan 15, 2014

ccfcway said:
Gotta say, thats the first time I have seen SISU be called "outstanding"

Its been said a few times on here before that their outstandingly incompetent.

tisza · Jan 15, 2014

Probably these new funds that have come in to help convince the league to lift the embargo.

shmmeee · Jan 15, 2014

tisza said:
Probably these new funds that have come in to help convince the league to lift the embargo.

I have no clue what I'm looking at. But don't funds have to be put in as capital? Doesn't that mean ARVO can't have a charge?

I'll be honest I have no clue what I'm saying and really don't care.

This is how the fucking bankers win. No other fucker can be arsed to sit through their shit.

Jack Griffin · Jan 15, 2014

Yeah, check it out please.. is this trying to circumvent FL SCMP regs?

Gynnsthetonic · Jan 15, 2014

Who trying to impress JG you numpty,

tisza · Jan 15, 2014

As far as i can see the capital as equity etc doesn't apply to league 1. The financial controls applied seem to relate to wages as a % of turnover only. So new funds can come in as loans. Promotion to Championship would see a different set of rules (ffp).

shmmeee · Jan 15, 2014

tisza said:
As far as i can see the capital as equity etc doesn't apply to league 1. The financial controls applied seem to relate to wages as a % of turnover only. So new funds can come in as loans. Promotion to Championship would see a different set of rules (ffp).

Cheers (no like on mobile)

Jack Griffin · Jan 15, 2014

More debt loaded on the club then..

ericagradus · Jan 15, 2014

An MR01 has replaced the old MG01 and can be registered by any beneficiary of a charge over a legal charge of the companies. So Otium have in consideration for something (money) given a charge of an asset within the last 21 days.

The change to the articles could be anything. Could be something as little as changing it so deeds can't be executed by a sole director or something more major like removing a restriction.

Broken Hearted Sky Blue · Jan 15, 2014

ericagradus said:
An MR01 has replaced the old MG01 and can be registered by any beneficiary of a charge over a legal charge of the companies. So Otium have in consideration for something (money) given a charge of an asset within the last 21 days.

The change to the articles could be anything. Could be something as little as changing it so deeds can't be executed by a sole director or something more major like removing a restriction.

Thank you but can we have that in English please

chiefdave · Jan 15, 2014

Broken Hearted Sky Blue said:
Thank you but can we have that in English please

think it means they've put more money in during the last 21 days and the charge has been updated to reflect that.

RPHunt · Jan 15, 2014

Broken Hearted Sky Blue said:
Thank you but can we have that in English please

The club's debt to SISU has just grown.

Sky Blue Harry H · Jan 15, 2014

ccfcway said:
Gotta say, thats the first time I have seen SISU be called "outstanding"

To be fair the word outstanding is usually followed by debt or rent payment

Sky Blue Harry H · Jan 15, 2014

ccfcway said:
Gotta say, thats the first time I have seen SISU be called "outstanding"

...oh, outstanding also followed by 'filing of accounts' ....I'll leave now!

tisza · Jan 15, 2014

What assets do we have or is this another ARVO charge over future income/assets?

Jack Griffin · Jan 15, 2014

tisza said:
What assets do we have or is this another ARVO charge over future income/assets?

prescisely

shmmeee · Jan 15, 2014

tisza said:
What assets do we have or is this another ARVO charge over future income/assets?

They get Seaborne's left leg.

rodders · Jan 15, 2014

Look the bottom line is sisu are propping up this team and continue to finance its existence all ccc have done is make us lose ten points

cloughie · Jan 15, 2014

rodders said:
Look the bottom line is sisu are propping up this team and continue to finance its existence all ccc have done is make us lose ten points

rodney.... you PLONKER

oldskyblue58 · Jan 16, 2014

ARVO have taken a charge over the assets of Otium Ent Group. It replaces the charge that was over the assets CCFC H. Those assets were transferred to Otium and this is transferring the charge to act as security for monies lent to the group.

The other document allows for the issue of 1,484,000 Class A preference shares £1 each. The shares being issued to ARVO. Basically instead of a loan shares that have additional rights to ordinary shares have been issued. There is no detail as to whether the shares were issued fully paid , at par or at a premium. The shares will count I believe in the FL salary cap calculation if issued as cash. It might indicate (but is only a guess) just how far behind the salary cap regulations the club was. It doesn't necessarily mean new money though they could have converted existing loans to the preference shares.

that's the rough details

PIPSQUEEK · Jan 16, 2014

rodders said:
Look the bottom line is sisu are propping up this team and continue to finance its existence all ccc have done is make us lose ten points

CCC had nothing to do with us losing any points that was SISU for not paying the rent and putting THEM-SELFS into Admin to lose 10 points

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