The Circular

[bluebear54 0]

Don't shoot me down - yet - but that read pretty OK and was a damned sight more transparent and up front than we've been used to.

I think we're in a better place than we would have been, so rejoice - in a subdued wary rejoicing type of way.

It's fairly positive.

[Stimpy 0]

Where's Bluedell or Craig when you need them. I'm awaiting their opinion's before getting all excited.

[forlanssister 3,114]

Can any one comment to what extent the Articles have been significantly changed as a result of the acquisition?

 

The Articles are those of RFCG Ltd not RFC. I don't think the information contained in them has been made public before.

[Bluedell 5,679]

I'm pleasantly surprised by the circular.

 

We aren't debt free as has been mistakenly reported, but there is a commitment that the debt transferred to TRFCG will be waived if all goes well with the tax case.

 

There will be funds made available - up to �£5m working capital, �£5m transfer fund, a further �£20m for transfers in future years, �£2.8m to meet a tax liability and �£1.7m for the stadium.

 

However it is unclear as to whether this "investment" will be repayable to TRFCG at some point in the future. I guess we would assume that it is repayable, given that the document is silent on it.

[Bluedell 5,679]

The Articles are those of RFCG Ltd not RFC. I don't think the information contained in them has been made public before.

 

And I doubt they will be of any interest.

[the gunslinger 3,366]

I'm pleasantly surprised by the circular.

 

We aren't debt free as has been mistakenly reported, but there is a commitment that the debt transferred to TRFCG will be waived if all goes well with the tax case.

 

There will be funds made available - up to �£5m working capital, �£5m transfer fund, a further �£20m for transfers in future years, �£2.8m to meet a tax liability and �£1.7m for the stadium.

 

However it is unclear as to whether this "investment" will be repayable to TRFCG at some point in the future. I guess we would assume that it is repayable, given that the document is silent on it.

 

 

does it not say they are only repayable if we are in liquidation. or am i adding the word only

[bluebear54 0]

I'm pleasantly surprised by the circular.

 

We aren't debt free as has been mistakenly reported, but there is a commitment that the debt transferred to TRFCG will be waived if all goes well with the tax case.

 

There will be funds made available - up to �£5m working capital, �£5m transfer fund, a further �£20m for transfers in future years, �£2.8m to meet a tax liability and �£1.7m for the stadium.

 

However it is unclear as to whether this "investment" will be repayable to TRFCG at some point in the future. I guess we would assume that it is repayable, given that the document is silent on it.

 

Thanks BD - as always. I was getting worried and thought I was out on a limb there. Did notice one mention of �£5m was "up to" so that's not exactly �£5m, is it.

But great to see the stadium being spruced up etc.. As I said - sounds good.

[Bluedell 5,679]

does it not say they are only repayable if we are in liquidation. or am i adding the word only

 

Yes, you are adding it. That may be the intention but it's unclear, and perhaps Whyte doesn't want to commit himself, as who knows the level of success or otherwise we are going to have over the next 5 years.

[the gunslinger 3,366]

Yes, you are adding it. That may be the intention but it's unclear, and perhaps Whyte doesn't want to commit himself, as who knows the level of success or otherwise we are going to have over the next 5 years.

 

cheers perhaps we can ask at the agm.

[calscot 0]

Anyone else find this bit amusing - " The consideration for the Acquisition was �£1, satisfied in full in cash"?