Diegos only gone and done it

[Seasider9601]

4 months then...... blimey....

[Westgate Wanderer]

4 months then...... blimey....

might just be in time for the January sales then!!

[John L]

At this rate, it could be our home League 2 game against Barra before the deal is done!

[Gone_Shrimping]

We have today filed a form SHO1 at Companies House.

For the less corporate minded among you this is "A Return Of Allotment Of Shares".

Ordinary shares totalling 2,220,575 have been allotted for cash yesterday.

Ordinary shares in total now issued stands at £3,966,979.

A total of 56,181 Ordinary Class A shares have been issued.

Our total issued Share Capital now stands at £4,023,160

I think we can now say that Diego has definitely gone and done it

[Trevor]

...and for the even less coporate among us - what does all that mean?

[Seasider9601]

Not sure, but it sounds good! !

[Gone_Shrimping]

...and for the even less coporate among us - what does all that mean?

It means someone has paid the club £2,220,575 for 2,220,575 ordinary shares.

The same person will have paid Mr PMG a sum of money for 80% of his shareholding in Morecambe FC. but that isn't reflected in the form that has been filed.

[marky No.1]

The silence is deafening, cant take 2 weeks surely, in fact its nearer 3 since the latest announcement

When we were taken over a few years ago the F&PPT took a few months and that was for a relatively straightforward case too. Nothing to worry about, I'm sure.

Thankfully things happen a bit quicker in Lancashire

[Shrimpy]

...and for the even less coporate among us - what does all that mean?

It means someone has paid the club £2,220,575 for 2,220,575 ordinary shares.

The same person will have paid Mr PMG a sum of money for 80% of his shareholding in Morecambe FC. but that isn't reflected in the form that has been filed.

So basically we've had £2.2m paid into the clubs bank account?

Any idea where that leaves us in terms of debts? Are we now debt free?

[marky No.1]

https://beta.companieshouse.gov.uk/comp ... ng-history

Some interesting charges on there

[Gone_Shrimping]

...and for the even less coporate among us - what does all that mean?

It means someone has paid the club £2,220,575 for 2,220,575 ordinary shares.

The same person will have paid Mr PMG a sum of money for 80% of his shareholding in Morecambe FC. but that isn't reflected in the form that has been filed.

So basically we've had £2.2m paid into the clubs bank account?

Any idea where that leaves us in terms of debts? Are we now debt free?

Impossible to tell from what is filed at Companies House.

As there are charges on the company from most if not all the directors , if these charges are satisfied in the coming weeks then we will know that the club is debt free.

The only other charge other than the one from Barclays Bank is a short term loan from the PFA which I would think will be cleared PDQ.

[KenH]

[ Are we now debt free?

Very unlikely. The club's accounts for 31/5/15 showed debt at just under £3m (loans, overdraft, etc), and we're another year of losses to add to that, so current debt is likely to be around £3.5m. And of course, there'll be another loss for the current year, so that could have reached £4m.

Director's loans were £2.3m at 31/5/15 and likely to have risen in the 15 months since due to ongoing losses. No way of knowing about the bank overdraft, bank loans and FL loans - there are charges against company assets for these loans but no figures mentioned.

No way of knowing how much Diego has paid directly to PMG to buy his shares (if he has).

[Gone_Shrimping]

[ Are we now debt free?

Very unlikely. The club's accounts for 31/5/15 showed debt at just under £3m (loans, overdraft, etc), and we're another year of losses to add to that, so current debt is likely to be around £3.5m. And of course, there'll be another loss for the current year, so that could have reached £4m.

Director's loans were £2.3m at 31/5/15 and likely to have risen in the 15 months since due to ongoing losses. No way of knowing about the bank overdraft, bank loans and FL loans - there are charges against company assets for these loans but no figures mentioned.

No way of knowing how much Diego has paid directly to PMG to buy his shares (if he has).

The Barclays Overdraft will be a floating charge.

if Diego has put a cheque into the club's bank for £2,220,575 for shares , I think we can safely assume he had already purchased 80% of PMG's shares.

[SupermarketShrimp]

I'm going to guess here but I reckon that is the directors lons being converted to shares. Means we willl be less in debt.

Think abramovich did something similar with his debt at Chelsea he had no chance of realising but keeps his interest monetary should we hit a third round windfall or win a player sale lottery or something.

Again I'm guessing

[Gone_Shrimping]

I'm going to guess here but I reckon that is the directors lons being converted to shares. Means we willl be less in debt.

Think abramovich did something similar with his debt at Chelsea he had no chance of realising but keeps his interest monetary should we hit a third round windfall or win a player sale lottery or something.

Again I'm guessing

Wouldn't that dilute the shares meaning Diego would have to buy a lot more to take 80% ?

Probably safest to wait for something official.

[KenH]

Of course, may be nothing to do with Diego at all. Could be just PMG converting his loan into share capital with no new money coming into the club??

[black morse]

It's probably CC

[Gone_Shrimping]

Companies House site is now showing we have appointed Abdul to the board as a director.

Must be the youngest director in the club's history at 24 years old.

https://beta.companieshouse.gov.uk/comp ... ng-history

[John L]

Spotted Diego and a couple of fellow newbies getting on a train to London this morning... travelling standard class so obviously saving a few quid to go in the transfer kitty!

[Kendalshrimp]

Little did we know ay

The funniest thing about all this is when a few of use lot on here met him the other week at the home game and couldn't get any further up the new owners arse listening to his BS !

[fulwoodshrimp]

Has any money been paid to Peter McGuigan for the club or is there a problem? I find the whole scenario puzzling. Something doesn't seem right.

[bill ding]

Little did we know ay

The funniest thing about all this is when a few of use lot on here met him the other week at the home game and couldn't get any further up the new owners arse listening to his BS !

Whats also funny is if certain people had kept quiet on here with rumours during EARLIER take over talks we may have had a new owner that COULD pay the wages !!!!

[Seasider9601]

Agreed.

[broadwayshrimp]

Just read this thread again. With only a few exceptions most people were convinced a better brighter future loomed. Little did they know.

[BoroRedShrimp]

Just read this thread again. With only a few exceptions most people were convinced a better brighter future loomed. Little did they know.

At least Diego is coming back to England to face the music.