Takeover latest

I think we saw what job uncertainty bought us towards the end of the Murray era. Well, it was one of the main issues I had with our demise but I guess we'll never know if it would have been different had players been on long term deals.

 

I believe that RM was putting up the money for the new contracts of Solly etc. Avesco,who RM is Chairman of,have won a case against Walt Disney about 60M dollars. Richard as a major Shareholder will get a reasonable amount.

Court Case Update
The Group announced on 8 March 2013 that the Ninth Circuit Court of Appeals issued its order returning the case to the trial court, an act which had the legal effect of making the judgement collectible by Celador International Ltd (“Celador&#8221. Payment to the Group was via a third party under the terms of a sale and purchase agreement dated 1 December 2006, by which Avesco sold its interest in Celador.
The Group is now pleased to announce the receipt yesterday of its share of the award, including interest and after third party taxes and costs. The Group now estimates the net value of the sum received, after tax and other costs, to be approximately 10% higher than the previously estimated $60m, principally due to the effects of post judgement interest and lower corporate tax rates both at the third party and for the Group.
The Group plans to release its Interim Results on 13 June 2013 when a further announcement will be made.
For further information please contact: Avesco Group plc
Richard Murray, Chairman
John Christmas, Group Finance
Director
01293 583400

 

RM appears to own just over 20% of Avesco and therefore on the basis of the distributed dividend will receive approx£5.8m gross. However he will have to pay tax on that sum and will in reality only get £3.2m which probably isn't enough to make that much of a difference in the scheme of things even if he did spend the lot on CAFC. I would think that apart from guaranteeing the contracts of existing players he is likely to, and well advised to, keep the money in the bank

 

A mere pittance.

It looks as if RM will be heading to mine for Christmas dinner - again!

 

So is there a takeover or not then?