Is Sam going to conver 'debt for equity'
Sat May 01, 2010 7:46 am
As part of the deal ?
echo article seems to indicate the 2009 agreement stays in place.
But my counting so far means that with £3m coming off PMG debt, Borley and Isaccs converting debt to equity, land deal, and deals with other creditors there could be as much as £10m knocked off the clubs debts before a single penn comes in !!
echo article seems to indicate the 2009 agreement stays in place.
But my counting so far means that with £3m coming off PMG debt, Borley and Isaccs converting debt to equity, land deal, and deals with other creditors there could be as much as £10m knocked off the clubs debts before a single penn comes in !!
Re: Is Sam going to conver 'debt for equity'
Sat May 01, 2010 7:54 am
Lawnmower wrote:As part of the deal ?
echo article seems to indicate the 2009 agreement stays in place.
But my counting so far means that with £3m coming off PMG debt, Borley and Isaccs converting debt to equity, land deal, and deals with other creditors there could be as much as £10m knocked off the clubs debts before a single penn comes in !!
Someone who knows more about these things may be able to help, but the trebling of the amount of shares does seem to make a lot of shares available for certain individuals to take up an option in return for lessening the money they are owed.
TG has the right to put someone else on the board and although TG himself will be chairman he will not undertake the day to day running of the club........what is Sam doing nowadays?
