Its a structured interest free debt though mate It also only takes 17 years, if we spend another 17 years outside the prem. (Which is obviously possible)
Where have you got that from? My understanding is that the interest being charged is *8.37% according to GFH's statement to share holders last year. Not seen any other reports of a second restructure. Not saying you are wrong!
You imply you know your way round a balance sheet. Can you tell me what the balloon payment on the restructured loan from GFH is going to be based on 8.37% P.A is going to be? My back of a *** packet calculation comes out at £15.17 if all repayments are made on time and any agreed punitive penalty clauses are not triggered.
I can't i've got you on ignore. Only joking of course. I will take a look, but can't look properly for a couple of hours
Maybe i'm reading it wrong, but I assumed that this meant Cellino had restructured in such a way that we won't be liable for any interest... "Their loans earned no interest in 2014-15"
Interest is restructured into a ballon payment at the end of the loan. @8.37% P.A as I understood it last year.... From a GFH statement. Putting it simply, Cellino told them he couldn't service the debt and pay the interest at the same time. I stand to be corrected.
Did anyone notice the comment right at the bottom of page 12? Factors!! The company has loses of approximatley £68M to carry forward against future profit!
Did anyone notice the comment on page 16? "At the year end there were a number of legal claims and various claims against the company from HMRC"
Bottom of page 14 creditors that are included are owed over£18mill a million more than last year! Now just sitting here that is round a 6.5% increase in debt owed to these people. The £ 68mill you mentioned is up from £64mill last year. About 6% more debt. So much for bring debt free.
On 27th May 2015 a further 3,000,000 ordinary shares were issued for £1 at £1.67 per share for cash consideration. So his £3M loan will yield a return of £5,010,000 - no wonder it's interst free How will Chesh and the happy clappers make this look good?
Making stuff up about things you don't understand again? The club issued 3 million of new shares with a nominal value of £1 for a premium of £1.67. Whoever bought the shares paid £1.67 for them netting the club £5m. Thats assuming the figures you quoted above are correct I haven't bothered to check. Whats that got to do with any £3m loan?
So we are paying GFH 3.5 million over the next 3 years and then 13.5 million annually from then until 2032? This a club that's making 12.6 million operating loss per year? I'm no financial expert but nothing about that reads well to me.
