Breaking News Board Statement

[canveyshrimper]

That is an automatic ban I believe, besides where on earth did you learn such language and secondly how did you learn to spell it correctly

Sorry Jackie it isn't not only are you allowed to talk bollocks, think bollocks, you can also post bollocks providing it's spelt correctly. Oh, I believe he got the spelling from Roger Mellie's Profanisaurus. :)

 

[Hotman]

Let's be honest, none of us know the specifics of the deal. It sounds like a deal with this group isn't out of the question. It was never in a million years going to be done before Wednesday though and I think everyone must have known that.

Why never in a million years? Heads of agreement, together with bridging loan of £700k same-day transfer, personally guaranteed by RM and representative directorship appointment can be knocked together in an hour if both parties are willing...

 

[Cricko]

I think for what ever reason and it is time to take the dust covers off...he thought he could postpone the tax demand until he got the Sainsbury's money in place...He always said they were not interlinked ..bollocks...He has had 3 months to find this payment.

Some of us are not as daft as we look.

 

[canveyshrimper]

Good words Harry, make you sound almost Churchillian.

Thanks Ken I did post that while supping a large brandy and smoking a huge cigar, troble is I look like Lassie having a ****.

 

[McNasty]

I think for what ever reason and it is time to take the dust covers off...he thought he could postpone the tax demand until he got the Sainsbury's money in place...He always said they were not interlinked ..bollocks...He has had 3 months to find this payment.

Some of us are not as daft as we look.

You are , kind sir.

 

[Andy_S]

Say we get a miracle and get this money to pay off this initial debt tomorrow, how on earth are the board going to run the club for the foreseable future? Surely it'd only get worse? Perhaps administration would be a blessing in disguise as it'd give us more chance of being taken over?

 

[Beefy]

Why never in a million years? Heads of agreement, together with bridging loan of £700k same-day transfer, personally guaranteed by RM and representative directorship appointment can be knocked together in an hour if both parties are willing...

Due diligence for a start, plus there would have been so much small print to go through in terms of the Club's relations with what are currently the associated companies. Deals just don't go through in this sort of time scale.

 

[Dick Bate's Protege]

When the 10 point deduction is announced tomorrow, no doubt we can expect a Pravda like statement from the club assuring us that its filthy Capitalist propaganda, that nothing is wrong, and we'll be starting work on the ground in December. Not to mention the January warchest.

 

[Hotman]

Shareholders - through that board statement, the board now has flushed your investment down the drain. A consortium would have maintained the "value" of your shareholding.

 

[manor15]

Some of us are not as old as we look.

Heard that from you before...

 

[McNasty]

I still put all the blame on the Taxman. ****ing demanding ****

 

[Hotman]

Due diligence for a start, plus there would have been so much small print to go through in terms of the Club's relations with what are currently the associated companies. Deals just don't go through in this sort of time scale.

Given RM's shareholdings, he is effectively the controlling party in all associated companies. Bridging loan would be based on dd, otherwise claimable on SUFC future profit / RM should the dd bring up something negative. I've knocked up similar deals in the same timescales previously - however all parties were willing. My guess is that consortium / RM's views of relationship between sufc / sel differred.

 

[Hotman]

I still put all the blame on the Taxman. ****ing demanding ****

Yes, how dare they ask for their money that was due approx 3 years ago. And those cheeky players, wanting to be paid. What a liberty.

 

[wynyates]

It seems that our future was linked to the Sainsbury's money. I assume that the delay in this is probably to do with the revised FF plans including another major supermarket and Sainsbury are playing hard ball with greedy Ron.

 

[Boreham Shrimper]

I still put all the blame on the Taxman. ****ing demanding ****

Evening Ron. Shouldn't you be looking under your bed for the £2.1 million/washing your hair?

 

[GodblessArthurRowley]

I think for what ever reason and it is time to take the dust covers off...he thought he could postpone the tax demand until he got the Sainsbury's money in place...He always said they were not interlinked ..bollocks...He has had 3 months to find this payment.

Some of us are not as daft as we look.

Unfortunately I am. I was one of those poor deluded fools who thought Ron would sort this out, how wrong could I be. When is this great club of ours going to get somebody in change who isn't shall we say economical with the truth, and who truly does have the best interests of the club at heart.We have suffered this rubbish for far too many years.

 

[Cricko]

Given RM's shareholdings, he is effectively the controlling party in all associated companies. Bridging loan would be based on dd, otherwise claimable on SUFC future profit / RM should the dd bring up something negative. I've knocked up similar deals in the same timescales previously - however all parties were willing. My guess is that consortium / RM's views of relationship between sufc / sel differred.

I am going to love to see the bridging loan from a club 6 mill in debt.

Ron..Good morning Mr Banker can I borrow 700k.
Banker..of course Ron what are your assets and debts.
Ron..well we are 6 mil in debt and we owe the tax man a bit but we have promise of a new stadium and what it brings.
Banker...oh that is ok then just the 6 mill in debt....How would you like the cash.

 

[bilbyboy]

Yep clearly Rons promised statement, if we go into administration tomorrow then each and every Southend United supporter should protest. We have not been given the information promised yet again by the current chairman and board, yet again we have been let down by lies. If we avoid administration tomorrow then i will come back on here and retract this statement with a full apology. Until then, the board have let us down big time by not fullfilling their promises. Still, that's nothing new is it? UTB IN TILLY & BRUSH WE TRUST.

 

[Hotman]

I am going to love to see the bridging loan from a club 6 mill in debt.

Ron..Good morning Mr Banker can I borrow 700k.
Banker..of course Ron what are your assets and debts.
Ron..well we are 6 mil in debt and we owe the tax man a bit but we have promise of a new stadium and what it brings.
Banker...oh that is ok then just the 6 mill in debt....How would you like the cash.

Bridging loan from consortium convertable upon completion

 

[CocklesShrimps&Whiteweed]

I am really am having to stop myself from launching into the whole RM-Property developer - big fat patch of land in built-up Prittlewell debate. Could get messy. *bites tounge*