Debts Paid up.

[Jim]

Really good news.

The Trust only own 48% of the shares though, I thought it would be more than that.

[Scoular1]

And nobody (me included) were brave enough to ask Andy what he is going to do about non striking strikers.

Anyway LDB and myself are going scouting for him at the upcoming top of the table clash H & W v Boreham Wood Saturday.Should be a cracker.

[bluekite]

Really good news.

The Trust only own 48% of the shares though, I thought it would be more than that.

So does that mean that the Presidents own 52% or am I missing something? I thought that the Trust had to own more than 50%?
Well done us for getting things paid off early, a combination of parachute payments, above expectation crowds and good revenue streams from commercial enterprises... I guess much of this has come from local sources (parachute payments excepted) so more power to the idea of the community model. Lets hope we don't go daft now that all the money coming is will be the club's

[chiswickmart]

Really good news.

The Trust only own 48% of the shares though, I thought it would be more than that.

Beeb reporting the Trust own 51%. - view external link

[nonsuchmike]

Paying off all the Legacy debts is not the same as paying in full all the moneys outstanding to creditors by PFC when we last/previously went into Administration.

It refers to all the debts the Administrator said we legally responsible for. Similarly, as another poster has pointed out, it is not clear whether the whole debt has been paid off or that for which the Trust Members were responsible for. If only that then there could be moneys outstanding for which the main Directors have taken responsibility.

I'm not splitting hairs or apportioning any blame, I'm just seeking clarification as a Trust Member myself who couldn't make the recent meetings.

[pompeygun]

I dont see the problem with the PST owning 48%. Its still the biggest share holder.

[Scoular1]

As they explained last night...any proposal needs 75% approval...so Trust only need 25.1% to veto.

[bluechimes]

NSM

The Trust members were/are not responsible (legally or otherwise) for any debts of any kind at all.

The PST was notd as an organisation liable for any payments under the Administration.

The debts under the 1st Administration were absorbed within the 2nd and were the liability of the Newco which the PST is a major shareholder in.

Income such as PL parachute payments were directed into the account controlled by the up Administrator i.e Trevor Birch. Once out of Administration he Newco will have dealt with payments

The debts were paid to all Creditors pursuant to the agreed dividend payments accepted by the Creditors other than the secured ones such as the PFA Members.

Any payments made outside of the Creditors agreement will have been made ex gratia.

KR

BC

[bluekriss66]

Well I for one am pleased and proud to be a Pompey fan x well done to ALL of us x