Question to those who have not bought shares (yet)?

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Re: Question to those who have not bought shares (yet)?

Post by Marc Monitor on Sat Jul 18, 2015 10:29 pm

I am not sure that existing shareholders converting their shares is good as donating because, although the ownership of the club by the Society is more assured, the creditors still need good old cash to pay off the debts. We could still own 70-80-90% of a club that still owes £750,000 to the existing board and it would still need the sale of Twerton to pay off those debts if we don't reach that amount.
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Re: Question to those who have not bought shares (yet)?

Post by BenE on Sun Jul 19, 2015 12:45 pm

I have just looked at the figures again in the prospectus. It says 750K will pay off 100K of debt, 385K of loans, and introduce 260K of working capital. By my reckoning that is 745K. I'm no accountant but that appears to mean only 5K goes towards buying the club ie it assumes existing shareholders wlll convert their shares

Hence as you say we still need to raise the 750K as a minimum. I hadn't appreciated this. So it is no good existing shareholders sitting back and saying they already own shares. They need to think about increasing their share holding if they can to make sure the club continues.
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Re: Question to those who have not bought shares (yet)?

Post by Timbo_b-o-a on Sun Jul 19, 2015 2:10 pm

I don't think the urgency of the situation is helped by comments from the club such as those in the Points West interview before the Bristol C game. After Steve Bradley's rallying to get behind the cause, the chairman was then asked about the state of the club and what happens if the bid fails.

The answer was that the club was in better shape as it made its 'lowest loss in 13 years' last season, will continue regardless and can always sell Twerton and move to a new ground... Seriously!?

If the current board want their money back this is the best (and only) option of achieving that as well as putting the club on the right track without having to sell the ground. I don't understand why the club isn't throwing everything behind the bid, I mean the events and meetings etc aren't even put up on the official website.
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Re: Question to those who have not bought shares (yet)?

Post by Marc Monitor on Sun Jul 19, 2015 7:45 pm

I agree broadly with your points, Tim, but I think that there are some - probably legal - reasons why the current board need to keep the Bid and the current Board separate.

They have been quite willing to let the Bid team use rooms at Twerton so aren't completely hostile to the bid.
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Re: Question to those who have not bought shares (yet)?

Post by pete mac on Mon Jul 20, 2015 9:02 am

Really good backing for the Quiz.....especially BIBS.

For what its worth there are still a few people out there ready to back the bid. I will try and put a bit more in myself.

£100k plus is a good sum and there should be a surge towards bid deadline.

Lets stay positive. This is a chance to do something great for our Club.

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Re: Question to those who have not bought shares (yet)?

Post by London Calling on Thu Jul 23, 2015 11:14 am

They have been quite willing to let the Bid team use rooms at Twerton so aren't completely hostile to the bid. wrote:

Unlike the situation at Blackpool.

http://www.bbc.co.uk/sport/0/football/33623963


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