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New ownership, £21m more share capital


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33 minutes ago, nevthelodgemoorowl said:

So Yeadon, I'm not a very quick learner. However, I have just borrowed £15K from Wonga, I do so hate debt, what do I do to convert my £15K Wonga debt into equity ?   

As far as I’m aware the P&S figures are taken from bottom line figures from your annual P&L, something apart from interest payments, loans do form part of

 

So conversion of loan debt to equity is a book entry on the balance sheet, so therefore not really helping out as far as our problem is concerned, unless the league just wanted to see a reduction in debt to sign off the accounts

 

Company accounts is not my thing, more of a legal cashier

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This is probably just Chansiri converting some of his director loans to shares. It may be being done through Holdings for tax reasons. I doubt it means anything to the availability of cash to the business or to P&S (unless maybe the EFL have required a reduction in the overall debt to sign off on plans, which I'm not sure they would).

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1 hour ago, pahowl said:

In respect of Sheffield Wednesday Holdings Limited , it is not registered in Thailand either. The accounts (when published) should show the parent company and its place of registration

 

Have you tried Delaware? :ph34r:

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4 hours ago, jamese said:

Three new companies incorporated yesterday, Sheffield 2 Limited, Sheffield 3 Limited and Sheffield 4 Limited. All with DC as the sole director

could be that DC Taxis are going to use Bentleys :biggrin:

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5 hours ago, Leaping Lannys Perm said:

So talk of these shares being worth £1 a piece.

 

Would that mean that the original 25million shares value the club at £25m? This seems low.

 

And does it mean Chansiri has given away 45% of his control of the company for £21m?

 

Whilst there is an argument of profit in this, selling £11.5m worth of control for £21m, in another way it seems like a small amount in the scheme of the money coming in and out of the club each year.

The share in a company may be issued with a face value of 1p but sold for a lot more. Share capital value is pretty meaningless in a lot of contexts. Face value is one thing but bears no relation to sales price. I've bought shares on the stack market with a face value of .25p and paid over a fiver each.. If I can sell for more why do I care.

 

I'm only on page 3 and I've seen nothing yet that gives any indication that we know what is going on.

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Guest Kameron

Its brilliant news, if this comes off and the EFL are happy it basically means we start again but this time with a proper manager.  Who cares how he does it, where the offshore company is held it will be great to be able to compete instead of watching the poo of the last two seasons.

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3 minutes ago, Kameron said:

Its brilliant news, if this comes off and the EFL are happy it basically means we start again but this time with a proper manager.  Who cares how he does it, where the offshore company is held it will be great to be able to compete instead of watching the poo of the last two seasons.

 

How do you mean  "we start again" he can spend what he wants?

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Guest Kameron
Just now, Mycroft said:

 

How do you mean  "we start again" he can spend what he wants?

 

If the debt is cleared and a small profit is shown, he can spend inline with P&S rules, hopefully this time with a manager who knows what he's doing we won't end up in this situation again.  Had DC not been able to do this we would have been looking at a full transfer embargo and points deduction.  If it comes off we go from having to endure another season of mediocrity to hopefully being able to challenge the top 6, there's no guarantees but at least this will bring the optimism back and lift the atmosphere around the place, we can start the new season in high spirits instead of doom and gloom, can't wait now. 

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