Ought we be worried?

[mistaram]

Its curious. The accounts were due for filing by 31-03. Some companies in the overall group controlled by MM requested extensions, and still have not filed. Others (eg Gellaw Newco 203, an intermediate holding company) did not request an extension and so are over 3 months late. Still more requested the extension and have filed by the due date.

Amongst the latter camp, we find the company that now owns our stadium, Gellaw Newco 202 Limited, proud new owner of £ 81,109,332's worth of prime Derby real estate. It was funded, curiously, by £ 73.4 million of intra group debt and, somewhat more interestingly £ 7.7 million of other creditor.

More interesting yet is the existence of a fixed/floating charge in favour of Rams Investment Limited who, we must presume, have funded the £ 7.7 million element of the transfer. This company is owned by Amit Haria, who is CFO of Duet Group, controlled by Henry Gabay.

So it would seem that the Duet investment people have been speculating about is in fact a loan to fund the acquisition of the stadium. I will leave it to you to consider:

A) is this the extent of Duet's financial involvement in the club;
is it a portent of future interest / involvement / financing;
C) how would that involvement sit with other potential investors

So I am a little concerned, but not for the reasons that you imagine - the lateness of the club accounts could just be due to delays at companies house, who are short handed, and we may have filed by due date: but they have not processed them.

Hmm CEO of Duet Group Henry Cabay is at present on remand in the South of France after being arrested on tax related fraud in Germany

The plot thickens by the day at Dcfc

[ramAnag]

Hmm CEO of Duet Group Henry Cabay is at present on remand in the South of France after being arrested on tax related fraud in Germany

The plot thickens by the day at Dcfc

Thanks, mista. Cheered me up no end. You’ll be telling me the cricket has been rained off next.