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[IcyT]

8 minutes ago, EvilWhiteStripe said:

Club Statement

"The board can confirm that the time for any interested parties to offer for the Club has come and gone. We are currently looking at our position and will make an announcement in the coming days"

More purgatory I guess.

Implying that the board would not entertain any late offer, which I’m sure they would be obliged to do if they’re to discharge their duty to act in the best interests of the company, etc.  Just seems a bland statement, and almost as though the board is reveling in the drama and secrecy….

[Jack Waddington]

I'm not understanding why there was tensions between the board and Povlsen tbh. Any potential of Europe, as slim as it may be, should be a bridge to cross when we get to it, not a roadblock preventing a major takeover that could see us back in the Prem in no time at all. We need to get talks with him reignited NOW, and bend some things so we can both be happy with whats on the table.

[Scotty]

1 hour ago, STFU said:

Put simply it's not an offer the board are able to accept even if they wanted to unless they already have written agreement on transfer of shares from existing shareholder/s to a new investor.

Would the likes of Morrison & Co. who we heard were initially willing to convert debt into equity that presumably came from unissued shares, have enough of this equity (if they now agree to it) to reach this total and be prepared to sign on the dotted line to write off their debt on that basis? If so, then presumably the £1.2m would be going to them and wiping out debt on paper rather than in real life? 

I cant say I can even begin to understand all the different convoluted pathways that may be involved, but like us all, I just hope they converge to the same spot which involves ICT survival.

 

[bigterrybutcher]

Mr Savage i believe has wanted administration from day 1 , he has put money into the club on the basis that he could see what's under the hood before buying it or attempting to buy it out of admin which I don't think is actually going to be plain sailing. Cva agreements or one thing but if you don't own any of assets which could use to raise £ against there's trouble. Much is made of the community trust and academy businesses being run as separate entities but without Caley Thistle there's no point in either as it's the clubs names there using .. providing a pathway to first team football etc ... its a hell of a mess administration may sort it or it may absolutely destroy it

[STFU]

45 minutes ago, Scotty said:

Would the likes of Morrison & Co. who we heard were initially willing to convert debt into equity that presumably came from unissued shares, have enough of this equity (if they now agree to it) to reach this total and be prepared to sign on the dotted line to write off their debt on that basis? If so, then presumably the £1.2m would be going to them and wiping out debt on paper rather than in real life? 

I cant say I can even begin to understand all the different convoluted pathways that may be involved, but like us all, I just hope they converge to the same spot which involves ICT survival.

 

There's no way for any new investor to get sufficient shares to take them anywhere near the 50+% point without them also obtaining already issued shares. New shares could be created but that would require an AGM/EGM approval. It would also require a devaluing of shares to allow it to happen for £1.2 million.

All of that is doable but the board themselves do not have the authority to accept an offer on that basis and with so many competing egos involved it's far from a certainty. If director loans are also to be converted to shares then it all gets even more ridiculous and complicated.

[Jack Waddington]

https://www.inverness-courier.co.uk/sport/moray-businessman-holds-positive-talks-with-caley-thistle-to-363985/?utm_source=dlvr.it&utm_medium=twitter

The amount of ups and downs at this club could make a rollercoaster at Alton Towers feel like a walk on the beach

[Pele_Is_God]

This consortium look dodgy. Administration is the best way forward.

[Satan]

2 hours ago, Jack Waddington said:

https://www.inverness-courier.co.uk/sport/moray-businessman-holds-positive-talks-with-caley-thistle-to-363985/?utm_source=dlvr.it&utm_medium=twitter

The amount of ups and downs at this club could make a rollercoaster at Alton Towers feel like a walk on the beach

This guy is Ketan-Lite.

Look him up.

And check out Nuneaton Borough FC.

[Charles Bannerman]

5 hours ago, Tree said:

You keep assuming that shares would be purchased at 'face value' as part of acquiring a controlling interest. It is much more likely that there will be an offer price at much less than this value on the basis that the shares in effect become worthless if administration/liquidation is the alternative. Any deal would presumably look to right down or restructure debt also.

Still needs a thump of cash.

Setting aside the initial capital/securities requirement, the essential element of any future path is having a strategy for management of the club to avoid reoccurence of the same issues at some point down the road. This needs a bit of vision but also much greater governance than seems to have been taking place over the past years .

They can’t just start selling new shares at a knockdown price. They would need the agreement of shareholders at a general meeting to create the extra shares and also to sell them at a price much lower than what’s been paid hitherto. Apart from the time involved in doing this, it would also require the agreement of existing shareholders, who may see administration as a safer way of avoiding liquidation.

[dougiedanger]

[ymip]

This latest fantasist makes Makwana look like Jeff Bezos. Accounts for his various "businesses" on Companies House would suggest that he would struggle to cover the ref's fee on Saturday.  Has anyone got Anders' number? 

[Ronaldo]

Anders would be a dream come true. Even if one of his conditions was to play on a Sat.

[Robert]

According to Reporting Scotland just now, the Cullen guy has until 1200 tomorrow to make a formal bid and the Board Meeting is at 1500.

[Yngwie]

1 hour ago, ymip said:

This latest fantasist makes Makwana look like Jeff Bezos. Accounts for his various "businesses" on Companies House would suggest that he would struggle to cover the ref's fee on Saturday.  

Head office is arguably better than Makanwa’s! 

[CaleyCanary]

1 hour ago, Yngwie said:

Head office is arguably better than Makanwa’s! 

…and a suitable taxi for the board!

[ICTPaisley]

1 hour ago, Yngwie said:

Head office is arguably better than Makanwa’s! 

Is his garden across the road ? 

[IcyT]

1 hour ago, Yngwie said:

Head office is arguably better than Makanwa’s! 

Ketan had an office in the QE2, though.

But where do these guys come from?  I might launch a bid.  Just need to incorporate a company, whack a fiver in it, and I get an audience, at least.

[+Fraz]

Next up Michelle Mone will be bidding with her taxpayer COVID millions from her yacht in the Bahamas.  

[Yngwie]

24 minutes ago, Fraz said:

Next up Michelle Mone will be bidding

Great, looking forward to seeing a well supported front two!

[+DoofersDad]

2 hours ago, Yngwie said:

Head office is arguably better than Makanwa’s! 

Cullen skint or Cullen stink by the looks of it. 

[+DoofersDad]

2 hours ago, Robert said:

According to Reporting Scotland just now, the Cullen guy has until 1200 tomorrow to make a formal bid and the Board Meeting is at 1500.

That would seem to suggest they don’t have any other offers and maybe no meaningful potential interest for a post administration situation. It’s looking grim. 

[Jack Waddington]

6 hours ago, ymip said:

Has anyone got Anders' number?

I'm praying someone does, or at least begs for the board to bend their demands to suit his demands. This is the closest we'll have to a Shiekh Mansour. Fellas worth £7 BILLION, AND HE WAS INTERESTED IN US. US. A TEAM ROYALLY SHITTING THE BED AND LOOKING LIKELY TO DROP TO LEAGUE TWO.

Palming him away over a hypothetical situation, is bonkers.

Better yet, has anyone that matters at the club even got a club email, cos all the contacts on the site are for the SLO and the like...

Then again, that said, as he did cite the debts as pushing away, I suppose theres a reasonable chance of him swinging back into the spotlight following administration

Edited October 17, 2024 by Jack Waddington

[CaleyTennis85]

19 minutes ago, Jack Waddington said:

I'm praying someone does, or at least begs for the board to bend their demands to suit his demands. This is the closest we'll have to a Shiekh Mansour. Fellas worth £7 BILLION, AND HE WAS INTERESTED IN US. US. A TEAM ROYALLY SHITTING THE BED AND LOOKING LIKELY TO DROP TO LEAGUE TWO.

Palming him away over a hypothetical situation, is bonkers.

Better yet, has anyone that matters at the club even got a club email, cos all the contacts on the site are for the SLO and the like...

Then again, that said, as he did cite the debts as pushing away, I suppose theres a reasonable chance of him swinging back into the spotlight following administration

You have actually answered (in the last paragraph) what I was going to ask and that was, would the Anders bloke come back in if we entered administration because if so then that would be beneficial in our efforts to return back up the leagues to at the very least, The Championship .

I'm not sure how tomorrow will go but I have a feeling that we may get the result we're hoping for and this Anderson bloke will save us from administration .

 

[Jack Waddington]

1 minute ago, CaleyTennis85 said:

You have actually answered (in the last paragraph) what I was going to ask and that was, would the Anders bloke come back in if we entered administration because if so then that would be beneficial in our efforts to return back up the leagues to at the very least, The Championship .

I'm not sure how tomorrow will go but I have a feeling that we may get the result we're hoping for and this Anderson bloke will save us from administration .

 

I mean, just playing the maths, he can quite easily turn us into a Champions League side without leaving a dent in his bank account lmao. Could punt in £10M/Season for 20 seasons, and it'd only be 1/35th of his £7Billion worth.

Sadly I can't imagine we're getting £10 Million/Season and starting Jude Bellingham and Haaland every weekend

[Council Juice]

On 10/16/2024 at 12:27 PM, Scotty said:

Yup, it feels like The Caledonian Stadium down by the lake in early March when the temperature can drop to -20 or -30!!! Other than money which they have loads of, there are lots of parallels with ICT, not least the sporadic periods of success followed by longer periods of absolute mediocrity but thats what happens when you support your local team rather than glory hunt, I guess. I think that was the game (2022?) where Lewis Morgan scored a hat-trick and also had one disallowed. He always plays well here for some reason. I watched that from the comfort of my front room. couldn't even give my tickets away for free for that one   

Yep 2022. Might have been the season opener. We got the tickets free from our boss who has season tickets. 

That wind was biting. Something I felt could be sorted with like a big window above the little stand at the concorse on the south side

Will say one thing though is the singing section was excellent throughout despite a miserable Toronto performance.