AGM for 2017

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Johnlewis1920
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Re: AGM for 2017

Post by Johnlewis1920 » 21 Nov 2018, 13:01

The club made public a terrific profit of over £600k in 2017 accounts that in any ones opinion is good my thoughts is that should of been used to pay off a large proportion of the Fulton debt and therefore reduce interest being charged and costing the club at the moment it appears the loan is being managed like back street money lender would do companyies house show the debt has increased even though a profit has been announced COYF

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Robbo
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Re: AGM for 2017

Post by Robbo » 21 Nov 2018, 19:22

I am waiting to see the accounts as I guess only abbreviated accounts are filed.

Either way the net debt has to reduce if a profit is made and no dividend declared.

Hence the thread asking for an AGM to discuss the accounts of TWO years ago.

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Re: AGM for 2017

Post by tigerfeat » 21 Nov 2018, 20:18

I find these reports troubling
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Re: AGM for 2017

Post by Lofthouse Tiger » 21 Nov 2018, 20:25

When someone is adamant with gaining full control their is usually something they want to do without any opposition or to hide something from any other interested parties. If this is not the case then I am a chinaman.

I still don’t see how it has been agreed to give shares to cover a loan yet the loan remains and interest paid on it. An absolute recipe for financial disaster for one party. Bet I know who won’t come out of this losing out.

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Re: AGM for 2017

Post by Robbo » 23 Nov 2018, 19:00

Well we got the AGM.

Tuesday the 11th of December at 10.30 am. How convenient.

Not seen the paperwork yet but a fair few things to concern shareholders who frankly currently have no say at all.

Let me read them and come back
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Re: AGM for 2017

Post by St Albans tiger » 23 Nov 2018, 20:04

Net debt, profit and cash are all very different things.

Just because the club has made a profit does not mean that it has cash reserves to be able to pay down loans.

Many accounting adjustments can and will be made to affect profit which have no impact on cash reserves. Amortisation and depreciation being one. Along with releases of historic accruals.

Profit does not equal cash.

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Re: AGM for 2017

Post by Robbo » 23 Nov 2018, 21:03

Cash in the bank was 970 k
That’s cash
FCF was very strong.
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Re: AGM for 2017

Post by bane73 » 23 Nov 2018, 21:11

Robbo. The man who was told, by Jack fulton no less, a few years ago to put his money where his mouth is ... And nothing happened. All bark n no bite it seems
what doesn't kill me simply makes me...stranger.

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Re: AGM for 2017

Post by Robbo » 23 Nov 2018, 22:45

bane73 wrote:Robbo. The man who was told, by Jack fulton no less, a few years ago to put his money where his mouth is ... And nothing happened. All bark n no bite it seems
Not sure why I should pay for the mistakes of the past. Let’s see how things go from here.
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Re: AGM for 2017

Post by bane73 » 24 Nov 2018, 11:43

Then stop banging on about the past and let those who are running the club run it.
what doesn't kill me simply makes me...stranger.

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Re: AGM for 2017

Post by Robbo » 24 Nov 2018, 14:42

bane73 wrote:Then stop banging on about the past and let those who are running the club run it.
With the greatest respect had I been listened to in the past we might not of been 2.5m in debt.

It was a personal thing people said. We had competing business.
I called for change and people like you said let them run the business.

If people had integrity and were bound by corporate governance I would feel much happier.

Whilst I am a shareholder owing a part of the club I shall continue to be a critical friend.

You and others can do as you please.
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Re: AGM for 2017

Post by bane73 » 24 Nov 2018, 18:33

Robbo wrote:
bane73 wrote:Then stop banging on about the past and let those who are running the club run it.
With the greatest respect had I been listened to in the past we might not of been 2.5m in debt.

It was a personal thing people said. We had competing business.
I called for change and people like you said let them run the business.

If people had integrity and were bound by corporate governance I would feel much happier.

Whilst I am a shareholder owing a part of the club I shall continue to be a critical friend.

You and others can do as you please.
best Robbo
Then when you were told to put forward your outline for your vision of the club you never went back to jack Fulton with a solid plan?
what doesn't kill me simply makes me...stranger.

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Re: AGM for 2017

Post by betts21 » 24 Nov 2018, 18:39

End of day does it really matter now. The end of the day the club was horribly miss managed and run to a point we were nearly no more we survived just. Lets hope this agm gives the shareholders all the answeres they want and that it shows were really going in the correct direction now. One thing for sure were never far away from the next episode of drama down lane.

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Re: AGM for 2017

Post by Robbo » 24 Nov 2018, 18:54

bane73 wrote:
Robbo wrote:
bane73 wrote:Then stop banging on about the past and let those who are running the club run it.
With the greatest respect had I been listened to in the past we might not of been 2.5m in debt.

It was a personal thing people said. We had competing business.
I called for change and people like you said let them run the business.

If people had integrity and were bound by corporate governance I would feel much happier.

Whilst I am a shareholder owing a part of the club I shall continue to be a critical friend.

You and others can do as you please.
best Robbo
Then when you were told to put forward your outline for your vision of the club you never went back to jack Fulton with a solid plan?
Bane I can assure you are wrong.
There were 6 or 7 interested parties at that meeting and to be honest the opening line went like this
" I hope you have brought your cheque book"

"Why"

"Well Richard wants a hundred grand that we owe him that's not in the accounts"

That was not a good start.

Now I suggest if you want some facts you can meet with me and some others that were there.
We were never asked to come up with a plan!

We were there to persuade the Chairman to move the CEO.

We were in big trouble.

Eventually that change was made and history tells you it was just in time.

So please if you want facts I can give you them. Then you can verify them. Others at the meeting were a past Director and some well though about people involved in the club.

Robbo
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Re: AGM for 2017

Post by tigerfeat » 24 Nov 2018, 19:03

betts21 wrote:End of day does it really matter now. The end of the day the club was horribly miss managed and run to a point we were nearly no more we survived just. Lets hope this agm gives the shareholders all the answeres they want and that it shows were really going in the correct direction now. One thing for sure were never far away from the next episode of drama down lane.
Your rate and past exploits tell it will not end well , but one always hopes this time things will end up differently
C'mon cas
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Re: AGM for 2017

Post by Squaddie86 » 24 Nov 2018, 19:20

I wonder how many shareholders in any professional sports organisation spend time whining and moaning on unofficial forums...

Chippy as...

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Re: AGM for 2017

Post by Robbo » 24 Nov 2018, 20:46

Take a look on ADVFN at many
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bane73
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Re: AGM for 2017

Post by bane73 » 24 Nov 2018, 21:00

Robbo wrote:
bane73 wrote:
Robbo wrote:
bane73 wrote:Then stop banging on about the past and let those who are running the club run it.
With the greatest respect had I been listened to in the past we might not of been 2.5m in debt.

It was a personal thing people said. We had competing business.
I called for change and people like you said let them run the business.

If people had integrity and were bound by corporate governance I would feel much happier.

Whilst I am a shareholder owing a part of the club I shall continue to be a critical friend.

You and others can do as you please.
best Robbo
Then when you were told to put forward your outline for your vision of the club you never went back to jack Fulton with a solid plan?
Bane I can assure you are wrong.
There were 6 or 7 interested parties at that meeting and to be honest the opening line went like this
" I hope you have brought your cheque book"

"Why"

"Well Richard wants a hundred grand that we owe him that's not in the accounts"

That was not a good start.

Now I suggest if you want some facts you can meet with me and some others that were there.
We were never asked to come up with a plan!

We were there to persuade the Chairman to move the CEO.

We were in big trouble.

Eventually that change was made and history tells you it was just in time.

So please if you want facts I can give you them. Then you can verify them. Others at the meeting were a past Director and some well though about people involved in the club.

Robbo
I have facts don't worry bout that.
what doesn't kill me simply makes me...stranger.

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bane73
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Re: AGM for 2017

Post by bane73 » 24 Nov 2018, 21:01

Squaddie86 wrote:I wonder how many shareholders in any professional sports organisation spend time whining and moaning on unofficial forums...

Chippy as...
Correct.
what doesn't kill me simply makes me...stranger.

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Re: AGM for 2017

Post by Lofthouse Tiger » 25 Nov 2018, 07:47

bane73 wrote:
Squaddie86 wrote:I wonder how many shareholders in any professional sports organisation spend time whining and moaning on unofficial forums...

Chippy as...
Correct.

Probably about the same number of people that bury their heads in the sand believing things are good without producing any facts or evidence. I know who I believe.

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