Captain Dart
Well-Known Member
I see, that subtlety was lost on me.
I see, that subtlety was lost on me.Yes, thats correct, I was thinking more about the way they spun the deal made with Stat Sports, trying to make out we were forward thinking club, investing in the infrastructure however, neglecting to mentrion there was a previous relationship with the company under its former guise.
Presumably IF it was still SISU listed as control they would have to declare actual investors in the fund that was used. Who knows who might be in that list!!!! perhaps that is why they changed it when they realised or got told that they must list the names of investors in the fund...nah I am getting all conspiracy theory again !Basically amateur hour.
No great conspiracy or reorganisation of the group. Just missed paperwork
Firstly the confirmation statement should have been filed within 14 days of the due date. You get a reminder sent from Companies House to the registered office. Followed by at least one if it remains outstanding. Followed by letter to directors stating the company will be struck off. Seems they ignored all that. Not only that but you can set up email reminders from Companies House so it is hard to miss.
Along with the confirmation statement it is a requirement since 06/04/2016 that people with significant control of a company are listed at Companies House and the company itself keeps a register of such people or entities. It looks to me that whoever was filing the confirmation form, included a statement that SISU had significant control of SBS&L. Either they didn't check with London HQ or didn't care or understand the significance and listed SISU. Previously it has been the case that apparently SBS&L were still investigating who controls the company, something I find in my opinion to be a bit of a nonsense - how can they not know after 2 years of having to list it? I suppose the argument is that there are many investors in the funds that own SBS&L however they have given authority to SISU to act for them - comes back to who is ARVO or Sconset. However proper enquiries should not take nearly 2 years whatever the result. Someone pointed out the "error" in the first control statement and there is a correction removing SISU as the entity with significant control.
Apparently it is not clear that the person referred to as the owner or the company operated under that persons control actually controls to any significant degree SBS&L. Yet they meet managers oversee the budget sign contracts appear in court etc etc .............
Just to be clear, control in this context is not just about the person or entity owns less than 25% of the issued share capital or between 25 to 50% or 50 to 75% or more than 75% it also includes those people or entities that influence the company decisions and under whose instructions the company does or is required to act. Make your own minds up as to what control is where.
So that might also include ARVO who have major debt and a charge over all assets. Seppala has signed documents for ARVO
SISU Capital Ltd lists persons of significant control as Seppala & Coleman
I believe they have to declare something to the EFL but names are not published unless the shareholder owns 10%Presumably IF it was still SISU listed as control they would have to declare actual investors in the fund that was used. Who knows who might be in that list!!!! perhaps that is why they changed it when they realised or got told that they must list the names of investors in the fund...nah I am getting all conspiracy theory again !
Wouldn't be the first time they have been late with the paperwork. I am sure Les Reid could find out and put everyones minds at ease with a proper explanation from them
Not the only one late with paperwork !
Perhaps the CT could find out and put everyones minds at ease with a proper explanation from them ( especially bondholders?)
WASPS FINANCE PLC
Company number 09435073
Ricoh Arena Judds Lane, Longford, Coventry, England, CV6 6AQ
- CompanyOverviewfor WASPS FINANCE PLC (09435073)
- Registered office address
Accounts overdue
Next accounts made up to 30 June 2017
due by 31 December 2017
Last accounts made up to 30 June 2016
That will be late possibly because of the bondholder meeting where they're asking them to change the terms (which is today isn't it)?
Wouldn't be the first time they have been late with the paperwork. I am sure Les Reid could find out and put everyones minds at ease with a proper explanation from them
Not the only one late with paperwork !
Perhaps the CT could find out and put everyones minds at ease with a proper explanation from them ( especially bondholders?)
WASPS FINANCE PLC
Company number 09435073
Ricoh Arena Judds Lane, Longford, Coventry, England, CV6 6AQ
- CompanyOverviewfor WASPS FINANCE PLC (09435073)
- Registered office address
Accounts overdue
Next accounts made up to 30 June 2017
due by 31 December 2017
Last accounts made up to 30 June 2016
Talking to yourself is the first sign of madness.It's tomorrow actually at 10.00. Bond price back up to 97p now or is it £98
At least they (wasps finance) have a clear statement as to who exercises significant control
Talking to yourself is the first sign of madness.
Cant file until they get the motions approved at the bondholders meeting because the accounts are not signed off until that is resolved.
That may be your summation but no one has put that out to the £35m worth of Bond holders have they?
Somewhat different situation. Neither satisfactory
Yes indeed - one is a error corrected and the other unexplained
I am not saying either is correct just how one is headlined and the other isn't
And I do not read the Observer and have never met Les Reid ( so far as I know )
I said talking to yourself is the first sign of madness
It's tomorrow actually at 10.00. Bond price back up to 97p now or is it £98
.... just before they move all the assets into it and let the main company go bust ?Isn’t SBS&L just an empty company? Contains no assets etc? Probably just a tidying up process in that case I would think.
.... just before they move all the assets into it and let the main company go bust ?
Really not sure here but they look like the Company who bought out Prozone from Fisher.Another doc filed.. 18 Jan 2018 Satisfaction of charge 1 in full
https://beta.companieshouse.gov.uk/...Q1M2FkaXF6a2N4/document?format=pdf&download=0
Not really clear what this was about.. involved some French company and has been running since 2011, was it a loan of some sort?
That was a buyout from what looks like Edmond de Rothschild.Well ive just spent 1/2 an hour in a companies house wormhole, I note that Kenny Dalglish was a director or Pro Zone ( in the past) and that in 2016 Pro Zone underwent a name change to Stat Sports...I wonder what sort of deal we got for all of that equipment seeing as we were previously connected with Pro Zone.
Can only assume that we have purchased equipment from them on tick.How would a company we sold Prozone to hold a Charge over us?
Wasn't that presented as free along with shirt sponsorship?Can only assume that we have purchased equipment from them on tick.
Wasn't that presented as free along with shirt sponsorship?
Forgotten all about them so googled Wynacre and the search brings up some interesting stuff.Used to hear the name 'Wynacre ',back in the day but it's boring now.
Isn’t the registered office address the same for SBS&L as it is for SISU?Guidance on persons with significant control (PSC) is here
https://www.gov.uk/government/uploa...e/621687/psc-statutory-guidance-companies.pdf
Is SISU or Seppala an investment advisor to SBS&L and therefore excepted? I would have thought that relationship was with the investment funds not SBS&L. But it might be the case
SISU or Seppala it has been reported
- SISU & Seppala referred to as the owner by the media and directors of SBS&L
- If it is SISU then Seppala is a PSC for her company
- Seppala meets the team manager on appointment
- Loans put in to SBS&L from investments controlled by Seppala
- Laura Deering is a director of SBS&L, a SISU employee and works closely with Seppala
- Seppala has led discussions with ACL/CCC in the past
- Seppala has issued a statement to supporters in the past
- has issued comments about media about other parties & court actions
- Seppala has provided witness statements in the court cases brought by ARVO & SBS&L
- SISU have structured the business plan if by nothing else not putting in further investment
- Funds for which Seppala acts have charges on all assets of the SBS&L group
- at least some Documents for ARVO are signed by Seppala, no sales of company or its assets without ARVO agreement as per their registered charge
- Seppala has attended meetings with fans and fan group representatives
-etc
I am sure there must be a good logical reason why SBS&L can not locate its PSC, I just do not as yet understand what it is. Everything seems to point to SISU & Seppala as PSC because of the influence she has over SBS&L and CCFC. I am sure someone will know why it is not
Yes it is. Not proof on its own but it could be seen as an indicator as to where control is. To add to the other indicatorsIsn’t the registered office address the same for SBS&L as it is for SISU?
I am sure there must be a good logical reason why SBS&L can not locate its PSC, I just do not as yet understand what it is. Everything seems to point to SISU & Seppala as PSC because of the influence she has over SBS&L and CCFC. I am sure someone will know why it is not
Just late paperwork, poor form though.
Coventry City company no longer under threat
Where has it been mentioned in this thread? That CT story was only posted 10:30 today.We already knew that. Do you actually read threads?
Wasn’t a PSC09 registered later the same day cancelling out that PSC02 in effect? So we’re back to square one where no one knows who the person with significant control is?Good afternoon!
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