Now that is banter! XDQuote:
Originally Posted by Taintedice
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Now that is banter! XDQuote:
Originally Posted by Taintedice
Snap.Quote:
Originally Posted by BCram
I hink thee ablity too yous a speelcekker b4 itz scent m8ks a deferens.
Ahh that's how you unlock a conversation with Keyes.😁Quote:
Originally Posted by noahrab
I'm 99.9% certain that I'm better educated than you so really don't need your help; but thanks anyway.Quote:
Originally Posted by Taintedice
I'm away to read the latest email from my leaders at DFCSS, wonder what they're saying now?
Hopefully they'll be telling you the truth, which would be a novelty as they haven't done so since formation in 2003 when they claimed to have saved the club from liquidation, a claim they still have on their website, without handing over a penny to the club to support it through administration. Before your time, though. And you were involved in DFCSS, of course you're more intelligent, same as every other guy who wanted that blazer.
There is big difference between shares having a nominal value and what they are worth.Quote:
Originally Posted by Taintedice
The Dundee Football Club Limited shares are listed as 1p shares but in recent years they have valued at up to 1.54p each.
From memory I think that the society currently own 25,323,598 Ordinary shares and 15,475,294 A shares. Assuming that each share is worth 1p each the total value of both the ordinary shares and the A shares would be over £400,000.
However if Dundee Football Club Limited went into liquidation the shares would be worth nothing.
If DFCSS had not handed over £150,000 to Bryan Jackson to pay the creditors at an agreed rate of 6p in the £ it is in my opinion possible that Bryan Jackson would not have got the required 75%+ creditors voting in favour of the CVA. The club would have gone into liquidation.Quote:
Originally Posted by Taintedice
Giving money to the club and handing money over to the administrator Bryan Jackson to pay the creditors are two totally different things.
I suggest that you read Bryan Jackson report on the Companies House website listing details of the income and expenditure by the club during the period when we entered Admin 2 in October 2010 until the end of the season in May 2011. It is an eye opener.
Despite cutting expenditure and the number of players to the bone the surplus at the end of the 2010-11 season was £35,369.60 and if there had not been £85,000 in the club bank account when we entered Admin 2 in October 2010 their would have been a loss.
I suggest that you read Notice of end of Administration dated 18th May 2011 which explains everything. https://beta.companieshouse.gov.uk/c...history?page=4
All very nice Islay but some poimts to consider.....Quote:
Originally Posted by islaydarkblue
1. Starting with 85k and ending with 35k is still a loss
2. There was room in the players to still cut that extra out if chosen to do so but the preference was to try to win football matches
And the more important ones for this topic....
3. The CVA would have been approved either way, other funding would have been available
4. DFCSS did not have the 150k required and needed the help of one individual plus the club to get that at the last minute
5. 4 is easily checked by asking DFCSS
6. If it wasn’t for the determination of other people to help DFCSS would have really messed it up in their efforts to be in control and in fact in December after Admin 2 they no longer sat in the Chairman’s seat because of it
Good God.....how do you know all this....oh aye that's right.....I remember now....you were there.Quote:
Originally Posted by hmac
But Islay must know better, he read the DFCSS website from a farQuote:
Originally Posted by Returnofrros