SO when will the takeover go through?

[Holy Joe]

viously for the sale to be concluded, then the charges need to be removed from the Hall, by Ron's financiers. Do the council hold any influence on that part, apart from obviously holding the key to the planning permission?

Sale of club or RH? I didn't think it was necessary for sale of club? But was necessary for sale of RH - which won't happen until later - after planning for new FF is approved.

 

[dusterman]

TBH it does not feel we have moved forward much, just pushed the issue along.

IMO It's still going to be a long process and that is the worrying thing,

Especially when they said financial DD is only starting? So property took 2/3 months and financial sounds even more important. They all keep talking in context of this WUP though which is due in 2 weeks?

 

[Shrimper]

Sounds like nothings happening and they're agreeing to keep talking. When will we see ACTUAL progress

 

[Holy Joe]

Sounds like nothings happening and they're agreeing to keep talking. When will we see ACTUAL progress

It's progress in that these meetings have happened - they had to occur and give approval - they've now said they're happy subject to the missing items being completed and officers/leader of council being happy.

If these meetings hadn't have occurred they'd have been needed when the DD is complete - so they've happened in parallel rather than in series, which will ultimately save time although it doesn't feel like it

 

[Medway Blue]

Sounds like nothings happening and they're agreeing to keep talking. When will we see ACTUAL progress

When the due diligence is complete. They can't progress it until that is done.

 

[annie1954]

I listened live to the council webcast meeting. They still haven’t done the dd on the financial part so unlikely to be completed by 15th May. This week the council members will probably change due to election on Thursday. We are no further forward.

 

[Medway Blue]

I listened live to the council webcast meeting. They still haven’t done the dd on the financial part so unlikely to be completed by 15th May. This week the council members will probably change due to election on Thursday. We are no further forward.

This bit shouldn't be a huge issue. This is the reason why they are delegating final say to council officials, in conjunction with the leader (whoever that might be post-election) - so that it doesn't have to go back to being talked about and talked by the council.

 

[Holy Joe]

I listened live to the council webcast meeting. They still haven’t done the dd on the financial part so unlikely to be completed by 15th May. This week the council members will probably change due to election on Thursday. We are no further forward.

Is that your opinion or was that said in the meeting - the completion of financial DD before 15 May?

If they've started the financial modelling it could be just a few numbers in a spreadsheet and update the written report, get signoffs to release to council - in theory a few days once they have the info they need???

And the changing of the council members I don't think will impact - the committee's have already given approval, plus there appears to be broad cross party support. Change of council leadership could make it interesting.

 

[sufc4life21]

I listened live to the council webcast meeting. They still haven’t done the dd on the financial part so unlikely to be completed by 15th May. This week the council members will probably change due to election on Thursday. We are no further forward.

More delays probably. We don't have time on our side, we have winding up order on the 15th of May which the consortium have stated they won't be paying until they own the club and why should they to. The Rat won't pay it so we are chancing the court to give us leeway. We stuck in limbo for sometime I feel, maybe worse if the consortium decide to pull out. What a mess.

 

[annie1954]

Is that your opinion or was that said in the meeting - the completion of financial DD before 15 May?

If they've started the financial modelling it could be just a few numbers in a spreadsheet and update the written report, get signoffs to release to council - in theory a few days once they have the info they need???

And the changing of the council members I don't think will impact - the committee's have already given approval, plus there appears to be broad cross party support. Change of council leadership could make it interesting.

They just said that dd was not done and I think it would take a bit of time to complete. But I am not an accountant so would not know how long it would take. Just think two weeks is pushing it!

 

[annie1954]

They just said that dd was not done and I think it would take a bit of time to complete. But I am not an accountant so would not know how long it would take. Just think two weeks is pushing it!

You can listen to the webcast on Southend council and you can make your own mind up

 

[ColinMorrisWalksOnWater]

They just said that dd was not done and I think it would take a bit of time to complete. But I am not an accountant so would not know how long it would take. Just think two weeks is pushing it!

What they actually said and it was Cllr Richards, was that the property element was almost complete, and just entering financial, legal and external audit element, at around 2 mins 40 secs to 3m30s.

And that they would be moving ahead at pace.

It was far from DD was not done.

 

[Shrimper]

I listened live to the council webcast meeting. They still haven’t done the dd on the financial part so unlikely to be completed by 15th May. This week the council members will probably change due to election on Thursday. We are no further forward.

Is there a risk that the 15th could see us wound up?

If it's extended will the NL deduct us points if RM is still owner next season?

 

[ColinMorrisWalksOnWater]

Is there a risk that the 15th could see us wound up?

If it's extended will the NL deduct us points if RM is still owner next season?

You last question is very pertinent imo.

Any question involving the rat and the NL ends in Who knows?!

 

[dusterman]

I’m a bit of a cynical ol’ boot and is there any chance the WUP from Stewarts Law was concocted to push the council? Given RM then went on BBC Essex of his own accord and gave a deadline of Mid May. All smells a bit fishy…

 

[Cricko]

I’m a bit of a cynical ol’ boot and is there any chance the WUP from Stewarts Law was concocted to push the council? Given RM then went on BBC Essex of his own accord and gave a deadline of Mid May. All smells a bit fishy…

@Billy Bests boot laces will be the best man to inform you on such topics.

 

[Cricko]

What is your take on it all atm James. @Medway Blue

 

[AustScullyPriorPowell]

I dont know about Kev getting the freedom of Southend but these consortium members deserve it with this level of commitment and major investment without keys!

 

[tommy tucker]

IS the take over being mentioned .Or is it normal chit chat .

 

[Chrisb]

I’m a bit of a cynical ol’ boot and is there any chance the WUP from Stewarts Law was concocted to push the council? Given RM then went on BBC Essex of his own accord and gave a deadline of Mid May. All smells a bit fishy…

Yes, I have been wondering that too.