[DerbySpireite59]

60s 70s Spireite, on 14 March 2024 - 12:59 PM, said:

Agree with all that. We are indeed lucky to have the current incumbents we have.
It’s long time ahead yet, but I wonder how additional investors would fit in?
A conundrum for the Trust. They are sat with shares in CFC at a value of over £5M. What’s the fair value now they only have a 15% shares? Presumably a lot less than £5M - especially if the Kirks subscribe for further shares in the future.

I don't think the Trust ever intended making money from the Club.

[60s 70s Spireite]

DerbySpireite59, on 14 March 2024 - 06:00 PM, said:

I don't think the Trust ever intended making money from the Club.

It was more an accounting issue. They recorded a big surplus when they took credit for the write off of the loan that was on their balance sheet, to my mind they will now need to record a capital loss as their shares have been substantially diluted.

[DIFH]

Mr Mercury, on 13 March 2024 - 10:35 PM, said:

In person at the club a week after I thought I read.

Correct, spoke to reception this morning.

[dim view]

60s 70s Spireite, on 14 March 2024 - 06:15 PM, said:

It was more an accounting issue. They recorded a big surplus when they took credit for the write off of the loan that was on their balance sheet, to my mind they will now need to record a capital loss as their shares have been substantially diluted.

Here's a titbit that I overheard last night, passed on without me being able to understand any of it............ (paraphrased) the new organisational set up between CFC and the Trust will sit much more easily with the Charity Commission and may well form an excellent blueprint for other clubs to follow.

[Westbars Spireite]

SpireiteStan, on 14 March 2024 - 12:48 PM, said:

Think this is right. Club shop have told us York tickets are having to be sent back to York and resent.

What a farce. So are they going to put their fans on the away end?

[60s 70s Spireite]

dim view, on 14 March 2024 - 06:42 PM, said:

Here's a titbit that I overheard last night, passed on without me being able to understand any of it............ (paraphrased) the new organisational set up between CFC and the Trust will sit much more easily with the Charity Commission and may well form an excellent blueprint for other clubs to follow.

Yes, I’m sure it will. You may recall I’ve banged on about this for a long time. The Charity Commission wouldn’t want a charity attempting to own and run a football club; as we all know, there’s usually only one outcome when it comes to the P and L account and a football club. And the whole point of a Charity is to raise and distribute money, not lose it in a high risk business

[dim view]

60s 70s Spireite, on 14 March 2024 - 06:57 PM, said:

Yes, I’m sure it will. You may recall I’ve banged on about this for a long time. The Charity Commission wouldn’t want a charity attempting to own and run a football club; as we all know, there’s usually only one outcome when it comes to the P and L account and a football club. And the whole point of a Charity is to raise and distribute money, not lose it in a high risk business

Yep, I thought you'd be interested. Mr Kirk is using some of the £2m to help the Trust out. What's occurring there? Hope it's to pay Allen off.

[60s 70s Spireite]

dim view, on 14 March 2024 - 07:07 PM, said:

Yep, I thought you'd be interested. Mr Kirk is using some of the £2m to help the Trust out. What's occurring there? Hope it's to pay Allen off.

Could well be, I thought it might be to pay some of the local authority loans, but Mike Goodwin was adamant in his RS interview that the loans are for 20 years and there will be no early recall.

[Blue5]

The Earl of Chesterfield, on 14 March 2024 - 05:42 PM, said:

Surprised no one asked when Paul Cook's contract is to be renewed.

Surely the most important renewal of all...

You will be pleased to hear that I did have a chuckle to myself last night.

You can tell we're on an upward trajectory when the two hired lumps who were in attendance at the AGM in 2016 have been replaced by the wife of the new, majority shareholder!

This post has been edited by Blue5: 14 March 2024 - 07:22 PM

[NickEwing]

What impact does the Kirk takeover have on folks with shares? Do we get to keep them?

[dtp]

NickEwing, on 30 March 2024 - 03:45 PM, said:

What impact does the Kirk takeover have on folks with shares? Do we get to keep them?

I believe, the simple answer is “YES”.

However, you might get the opportunity to buy more if you so wish.

[NickEwing]

Is the option to buy shares currently removed?

[oldgoat]

NickEwing, on 31 March 2024 - 03:45 PM, said:

Is the option to buy shares currently removed?

Yes