GOM on RTG reckons something appeared on Companies House today that's interesting. I'm too thick to understand what it means but I'm sure our resident accountant experts on here will know...
I was actually discussing the takeover stuff if any of you can be arsed to go back to smug post. I asked a question, he responded with absolute ****e that attacked me on a number of subjects that were completely unrelated and incorrect. I look forward to you fair-minded chaps all doing that and criticising smug for derailing the thread with this tedious ****
The articles of association are the documents that basically set the rulebook for what a company can do and how it has to do them. Unfortunately, these are the articles from FPP first coming on board with the loan, they look like they've just been updated on Companies House after christmas. No movement as a result of the owner deciding to sell. May be more detail in there about terms and charges, I'll take a look later on unless GOM finds it all over there.
On at least a dozen occasions you've had a pop at GOM, on here, knowing he can't respond, that's cowardly. And if you're going to attack someone at least have the balls to stick by what you've said instead of acting the innocent. You've insinuated he's up the club's backside, that he's 'terrified' of things and that he's waffling ... ... coming from the Waffle Master that's laughable. For someone who's not obsessed let's see who's the first to reply on a thread called 'Grumpy'
So looks like GOM has had a look at the documents and says the changes mean FPP can be offered shares in preference to the current shareholders (which isn’t usually the case) and this fits the clauses in the loan agreement. Interestingly another poster - Sam Austin’s Barnet - has stated that he heard a rumour that FPP recently made another offer for the club. Hopefully both of the above is true and we’re not too far off a takeover.
I am so glad I don’t believe a f ucking word that’s been said right from the off as I am old enough and wise enough after following Sunderland for over 60 years to realise it’s probably a pile of s hite
Not a good way to get people on your side mate! Maybe its either time to let it rest or say sod it and stop posting
There seems to be a significant roll out from the board meeting. I just spoke to Grumpy and he seems quite excited ... ... quite unusual behaviour for an accountant
I think the below is the reason for this. It's from the charge sheet. Madrox hadn't completed all of the changes to their articles of association (it's a bit chicken and egg to do so mid-negotiation when they could change) and so some of it was signed off on the basis that Madrox were obligated to ensure that their own documents were changed in line with potential outcomes, one of which was that FPP could acquire shares in the club for an outstanding security. The new articles allow Madrox to do that without contravening their own agreement taken when the business was set up. They're legally confirming what the charge sheet already said.
It depends what you mean by imminent tbh. They've never not been ready to complete a takeover and only Donald's could solely prevent it happening. Now that he appears to have faced up to reality there's little to stop them. Donald won't attract the necessary investment with his declaration, not even from Sartori .... 'Oi Juan, I have a lame duck here, fancy paying for the vets bills?" Thankfully we have Grumpy to spell things out without any needy attention seeking. I've spoken to him and he's happy for anyone to copy & paste anything he says on RTG ... ... I can't, I'm just about to fly to France.
To me it confirms the charge sheet terms can be enacted. For example, it is likely that certain parts of FPP's security over the club contradicted or were not covered explicitly by Madrox's articles of association. Rather than delay the deal in late November when it was agreed in principle, they left this type of legalese to be drafted and signed after the fact.
You both just need to stop talking to or mentioning each other like. And don't either of you respond with any 'he started it' ****e either.
