buster. 5,262 Posted October 22, 2014 Share Posted October 22, 2014 I'd imagine a loan will get them round that. As would another auditor. Yes, but I think it would need to be of the eight figure variety for Deloittes to sign off the going concern and whoever puts up that money is going to get the leverage, one way or another. Changing to a less reputable auditor would be a very negative sign and I doubt something that whoever emerges as 'victor' would want to see. I would welcome clarification from the Financial Bears. 0 Quote Link to post Share on other sites More sharing options...
buster. 5,262 Posted October 22, 2014 Share Posted October 22, 2014 Keith Jackson tweeted something very interesting that I hadn't seen mentioned before. He stated that King is demanding that the Easdale group, Ashley and Laxey all have to be supportive or there is no deal. Seems impossible, if it is indeed true. That's a variation on what was said by or for King a couple of days ago regards the Easdale fronted proxy vote. IIRC he said their support was essential, which in part it obviously is. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted October 22, 2014 Author Share Posted October 22, 2014 Keith Jackson tweeted something very interesting that I hadn't seen mentioned before. He stated that King is demanding that the Easdale group, Ashley and Laxey all have to be supportive or there is no deal. Seems impossible, if it is indeed true. Perhaps just an indication of how strong a hand King may feel he has. Will depend on just how productive discussions have been with said people and what they ask for in return. I'd say Ashley and Laxey support is possible but Greenco less so. However, nothing is set in stone even if we get an initial acceptance tomorrow. Whose to say the parties mentioned won't change their mind ahead of any AGM resolution for another share issue? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted October 22, 2014 Author Share Posted October 22, 2014 Yes, but I think it would need to be of the eight figure variety for Deloittes to sign off the going concern and whoever puts up that money is going to get the leverage, one way or another. Changing to a less reputable auditor would be a very negative sign and I doubt something that whoever emerges as 'victor' would want to see. I would welcome clarification from the Financial Bears. Some have made light of the various changes to our broker and advisers so I doubt a change of auditor would concern them either. I don't know what pressure Deloittes can bring to bear in that respect but I'd imagine any accounting info will be held back until the last possible moment regardless of what happens with King. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 22, 2014 Share Posted October 22, 2014 we the fans will just need to cross our fingers and hope the board do whats best for the club. if not we will need to decide if we fund them. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted October 22, 2014 Share Posted October 22, 2014 I'd imagine a loan will get them round that. As would another auditor. I doubt changing the auditor would make much difference. They would all have the same concerns and would be unlikely to expose their firm by giving an unjustified unqualified report. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 22, 2014 Share Posted October 22, 2014 That's a variation on what was said by or for King a couple of days ago regards the Easdale fronted proxy vote.IIRC he said their support was essential, which in part it obviously is. Perhaps I have taken it the wrong way. I just found it strange. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 22, 2014 Share Posted October 22, 2014 we the fans will just need to cross our fingers and hope the board do whats best for the club. if not we will need to decide if we fund them. Once again, it really doesn't matter what the board do. If they can't carry the required amount of shareholder support, King will withdraw his 'loan' offer. 0 Quote Link to post Share on other sites More sharing options...
buster. 5,262 Posted October 22, 2014 Share Posted October 22, 2014 Perhaps just an indication of how strong a hand King may feel he has. Will depend on just how productive discussions have been with said people and what they ask for in return. I'd say Ashley and Laxey support is possible but Greenco less so. However, nothing is set in stone even if we get an initial acceptance tomorrow. Whose to say the parties mentioned won't change their mind ahead of any AGM resolution for another share issue? Maybe it's just tabloidspeak but I'd be careful with what I was 'demanding' from Ashely. He's got the wherewithall to blow you out of the water if he wants to. As Richard Wilson says I think Ashely is pivotal. If he isn't willing to step up and put forward a sizable loan then the option to remain solvent points to DK&Co. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted October 22, 2014 Author Share Posted October 22, 2014 I doubt changing the auditor would make much difference. They would all have the same concerns and would be unlikely to expose their firm by giving an unjustified unqualified report. You don't think there's the equivalent of a struggling D&P/MCR or Daniel Stewart in the auditing world out there? You'll know better than me but money talks. 0 Quote Link to post Share on other sites More sharing options...
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