SO when will the takeover go through?

[annie1954]

Well I am confused then.

“the Council received the financial analysis to reach the latest milestone in the due diligence process”

Surely it’s the company doing the financial DD that has the provided financial analysis?

Maybe before hand the martins has filled in the gaps so that the analysis could finally be completed and handed to the council?

I wouldn’t worry JD I still think we have many more weeks of this DD to go . So don’t know when we will see the one Headline we’re all waiting for

 

[JD]

I wouldn’t worry JD I still think we have many more weeks of this DD to go . So don’t know when we will see the one Headline we’re all waiting for

For my own sanity I am trying to understand what this update means. It’s not clear.

 

[Liam AAS]

Well I am confused then.

“the Council received the financial analysis to reach the latest milestone in the due diligence process”

Surely it’s the company doing the financial DD that has provided the financial analysis?

Maybe before hand the martins filled in the gaps so that the analysis could finally be completed and handed to the council?

Are we on the same page as such?

Yours is certainly a fair take so I'm now also confused. My interpretation was under the context of the update on the 23rd saying that The Martins had no yet provided some data and that estimates were being used.

You could well be right and I would stand corrected.

 

[Smiffy]

I’m sure it said in one of the recent echo articles that DD is continuing on the “property” side, although the financial DD now appears complete (subject to ironing bits out with Citizen) then we have the legal part and the audit to complete as well. It’s going to be a while yet folks…

 

[damien]

So as I understand things, before I dig up the garden turf with a beer and await the acceptable hour to order a chinese…..

Financial element of DD - the key part to CBRE/Ron agreeing the roots hall charges being moved and facilitating the sale of the club - is back. This will then be sent for audit, hopefully yesterday, and that (in theory) is the final step to understanding if Justin and Co takeover the football club.

All of the above needs to happen, DD/auditor kinks ironed out, signing of SUFC contracts of sale, prior to the next WUP from Stewart’s coming to the courtroom.

I could be well off the mark but if it isn’t far off then it seems like that news gives us a further glimmer of possibility in what is an increasingly unlikely sale.

Sea sea Seasiders

 

[damien]

So as I understand things, before I dig up the garden turf with a beer and await the acceptable hour to order a chinese…..

Financial element of DD - the key part to CBRE/Ron agreeing the roots hall charges being moved and facilitating the sale of the club - is back. This will then be sent for audit, hopefully yesterday, and that (in theory) is the final step to understanding if Justin and Co takeover the football club.

All of the above needs to happen, DD/auditor kinks ironed out, signing of SUFC contracts of sale, prior to the next WUP from Stewart’s coming to the courtroom.

I could be well off the mark but if it isn’t far off then it seems like that news gives us a further glimmer of possibility in what is an increasingly unlikely sale.

Sea sea Seasiders

Seems this is a way away from where we really could be. A shovel and a neck oil is calling my name.

Enjoy the sunshine shrimpers

 

[JD]

I’m sure it said in one of the recent echo articles that DD is continuing on the “property” side, although the financial DD now appears complete (subject to ironing bits out with Citizen)

View attachment 32136

View attachment 32137

So this would make sense then in line with the latest announcement.
Initial financial DD complete, but bits need to be ironed out with Citizen, for which discussions will take place next week.

 

[Smiffy]

So this would make sense then in line with the latest announcement.
Initial financial DD complete, but bits need to be ironed out with Citizen, for which discussions will take place next week.

Yep, in simple terms... Financial DD (almost) complete. Property DD ongoing, Legal DD ongoing. Audit to follow, then sale completion.

Getting all that done inside 4 weeks, seems a tad unlikely. Unless I have completely misunderstood the process.

 

[dusterman]

Yep, in simple terms... Financial DD (almost) complete. Property DD ongoing, Legal DD ongoing. Audit to follow, then sale completion.

Getting all that done inside 4 weeks, seems a tad unlikely. Unless I have completely misunderstood the process.

External audit was quoted as two weeks so needs next DD bits completed and ironed out concerns in coming fortnight.

 

[JD]

Yep, in simple terms... Financial DD (almost) complete. Property DD ongoing, Legal DD ongoing. Audit to follow, then sale completion.

Getting all that done inside 4 weeks, seems a tad unlikely. Unless I have completely misunderstood the process.

Perhaps they need to begin using your red/amber/green skills!!

Would be a sea of red at the moment with a solitary hint of amber.

 

[JD]

 

[Shrimpergonzo]

View attachment 32138

That seems to confirm it then. Option 2 as outlined in his statement earlier this week

 

[united we stand]

We still don’t have a proper timeline of everything that needs doing and what each step is dependent on.
Due diligence complete, audit complete are 100% not the last steps

 

[Liam AAS]

That seems to confirm it then. Option 2 as outlined in his statement earlier this week

I dont think this confirms anything as "initial finanical DD" is then replied to with "initial DD"

Very little point in claiming to act in a transparent way if all that happens when he talks is create more confusion

 

[Shrimpergonzo]

I dont think this confirms anything as "initial finanical DD" is then replied to with "initial DD"

Very little point in claiming to act in a transparent way if all that happens when he talks is create more confusion

Fair enough - clear as mud then!

 

[crangoner]

Very little point in claiming to act in a transparent way if all that happens when he talks is create more confusion

That claim wasn't made, and let's not have a semantic argument.

 

[kentblues]

Yep, in simple terms... Financial DD (almost) complete. Property DD ongoing, Legal DD ongoing. Audit to follow, then sale completion.

Getting all that done inside 4 weeks, seems a tad unlikely. Unless I have completely misunderstood the process.

The timings were to be DD by end of month, 2 weeks for audit, 2 weeks to finalise contracts/exchange.

No time for faffing about for sure.

 

[Liam AAS]

That claim wasn't made, and let's not have a semantic argument.

Cowan made that claim.

 

[JD]

I dont think this confirms anything as "initial finanical DD" is then replied to with "initial DD"

Very little point in claiming to act in a transparent way if all that happens when he talks is create more confusion

I’ve tweeted him again and asked for this to be clarified further, as in what DD Is he referring to?

 

[kentblues]

I think he has been clear this financial DD is one of the DD strands and not the external audit which is separate and will only follow completion of the DD steps.