Board meeting....

[Paul6754]

Mo Chaudry's bid was loans at 0% interest to replace loans on which we are paying a premium rate until such time as the club could afford to pay interest, and then it was agreed to keep at a lower rate.

 

Repayments could instead have been in the form of new shares, therfore converting the loan into equity and making this pure investment.

 

All in his Business plan

 

Stone Valiant, you really need to read his business plan.

 

Since you appear to be in the know, exactly what loans are Vale currently paying a premium on and what interest rate is being charged.

[Stone Valiant]

Stone Valiant, you really need to read his business plan.

 

Since you appear to be in the know, exactly what loans are Vale currently paying a premium on and what interest rate is being charged.

 

1. The council loan - Mo wanted this re-structured, whereby a large amount would be repaid through the directors loans and the interest rate reduced. don't know the precise amount, but the current rate I believe is above the current base rate.

 

2. We have several smaller loans with other organisations such as Harlequin, etc which would be consolidated by the directors loan.

 

3. The rest of the money from the directors loan would be used to improve facilities, Port Vale in the Community and the ground in general.

 

That's as much detail as I am aware of

[TheLegalBeagle]

Get a life.

 

I'm not suggesting anything. You people can't see the woods for the trees can you?

 

I don't know why they rejected the £5mill investment. I don't know if it was £5 million investment. It was in actual fact a loan at first.

 

It is NOT £5 mill in crisp brand new £50 notes v £1.2 million in coppers, like some people are making out.

 

Dear Mr Beagle,

 

I observe your posts with interest and a wry smile.

 

You of course know precisely the details of the MC / MS bid, so I am surprised you would seek to distort the terms in your postings.

 

I will assist: £1.2M cash (new shares), and £3.8M interest free loan with an option in due course to charge interest below market rate for borrowing or convert to equity (which was always stated to be the preference). The bid of course was not just financial - it involved a business strategy and the appointment of experienced key personnel. It was the whole package.

 

Not once did the board reject the bid on financial terms or the business strategy. The bid was rejected given "personal" reasons with MC going back to historical and non-football related matters. If your trawl through the various board statements, propaganda leaflets and newspaper releases you will see this to be the case.

 

The MC / MS bid is of course history now in terms of PVFC, unless of course the "new" board wish to try and engage MC / MS again - but such discussion will be on revised terms given the significant change in the financial profile of the business over the last 6 months.

 

PVFC fans and shareholders alike are quite within their rights to hold up any alternate bid / investment against the MC / MS bid and hold the board accountable if such alternate is not on similar or better terms. Indeed I would go so far as to say having rejected the MC / MS bid the directors have a duty to the fans and shareholders to explain themselves if they subsequently accept a bid on lesser terms for the board are ultimately custodians for and on behalf of the fans and shareholders. This legal and fiduciary obligation seems to have been lost on the board over the last 6 months, despite the professed new era of transparency with a reshuffling of the pack on the board.

 

I thought it might prove useful if I clarified any misunderstanding that may have arisen.

 

By the way - good result today. I was there ;)

 

Regards.

[TheLegalBeagle]

Stone Valiant, you really need to read his business plan.

 

Since you appear to be in the know, exactly what loans are Vale currently paying a premium on and what interest rate is being charged.

 

Dear Paul,

 

We (MC / MS and myself) know the precise terms of the PVFC loans and I can assure you the MC / MS package was on far more favorable terms than the current borrowings. SV is quite right in his posting. That said it is water under the bridge now and so we await with interest the detail of the new investment being lined up.

 

Regards

[BACK OF THE NET]

Dear Mr Beagle,

 

I observe your posts with interest and a wry smile.

 

You of course know precisely the details of the MC / MS bid, so I am surprised you would seek to distort the terms in your postings.

 

I will assist: £1.2M cash (new shares), and £3.8M interest free loan with an option in due course to charge interest below market rate for borrowing or convert to equity (which was always stated to be the preference). The bid of course was not just financial - it involved a business strategy and the appointment of experienced key personnel. It was the whole package.

 

Not once did the board reject the bid on financial terms or the business strategy. The bid was rejected given "personal" reasons with MC going back to historical and non-football related matters. If your trawl through the various board statements, propaganda leaflets and newspaper releases you will see this to be the case.

 

The MC / MS bid is of course history now in terms of PVFC, unless of course the "new" board wish to try and engage MC / MS again - but such discussion will be on revised terms given the significant change in the financial profile of the business over the last 6 months.

 

PVFC fans and shareholders alike are quite within their rights to hold up any alternate bid / investment against the MC / MS bid and hold the board accountable if such alternate is not on similar or better terms. Indeed I would go so far as to say having rejected the MC / MS bid the directors have a duty to the fans and shareholders to explain themselves if they subsequently accept a bid on lesser terms for the board are ultimately custodians for and on behalf of the fans and shareholders. This legal and fiduciary obligation seems to have been lost on the board over the last 6 months, despite the professed new era of transparency with a reshuffling of the pack on the board.

 

I thought it might prove useful if I clarified any misunderstanding that may have arisen.

 

By the way - good result today. I was there ;)

 

Regards.

 

It appears he has chosen to vanish nice to see you back by the way

[TheLegalBeagle]

I'd like a few less egos and more getting out of this league. Nice to see you back LB.

 

Hi cplowe1,

 

I have not really been anywhere. I have just made a conscious effort to stay in the background and let things settle down post EGM. Interesting times in light of the forthcoming announcement from the board.

 

It has been a busy summer window, and I take particular pleasure having sorted some loan moves for 5 Division 2 clubs. The most pleasing is Jack Butland from Birmingham City to Cheltenham for an initial 1 month with an option to extend. Jack is an exciting prospect having been outstanding in goal for the England U20 team in the World Cup resulting in his U21 call up against Azerberjan at 18 years of age. The experience at Cheltenham will do him the world of good and I suspect will be worth quite a few match saving points to Cheltenham. Keep an eye on this lad as he is a real talent in the making.

 

What could have been for PVFC - but life goes on

 

Good win for Vale today. Having said that it is sad to see Plymouth in such a bad way. I really do fear for their existence particularly in their salvation is Peter Risdale !

 

Regards.

[1517sharps]

LB Do you have any inkling on the proposed deal realised next week?

[JB78]

Hi cplowe1,

 

I have not really been anywhere. I have just made a conscious effort to stay in the background and let things settle down post EGM. Interesting times in light of the forthcoming announcement from the board.

 

It has been a busy summer window, and I take particular pleasure having sorted some loan moves for 5 Division 2 clubs. The most pleasing is Jack Butland from Birmingham City to Cheltenham for an initial 1 month with an option to extend. Jack is an exciting prospect having been outstanding in goal for the England U20 team in the World Cup resulting in his U21 call up against Azerberjan at 18 years of age. The experience at Cheltenham will do him the world of good and I suspect will be worth quite a few match saving points to Cheltenham. Keep an eye on this lad as he is a real talent in the making.

 

What could have been for PVFC - but life goes on

 

Good win for Vale today. Having said that it is sad to see Plymouth in such a bad way. I really do fear for their existence particularly in their salvation is Peter Risdale !

 

Regards.

 

how very depressing when anyone can see that we desperately need a keeper due to Martins inability and tomlinsons lack of form.

[MarkB2]

Hi cplowe1,

 

I have not really been anywhere. I have just made a conscious effort to stay in the background and let things settle down post EGM. Interesting times in light of the forthcoming announcement from the board.

 

It has been a busy summer window, and I take particular pleasure having sorted some loan moves for 5 Division 2 clubs. The most pleasing is Jack Butland from Birmingham City to Cheltenham for an initial 1 month with an option to extend. Jack is an exciting prospect having been outstanding in goal for the England U20 team in the World Cup resulting in his U21 call up against Azerberjan at 18 years of age. The experience at Cheltenham will do him the world of good and I suspect will be worth quite a few match saving points to Cheltenham. Keep an eye on this lad as he is a real talent in the making.

 

What could have been for PVFC - but life goes on

 

Good win for Vale today. Having said that it is sad to see Plymouth in such a bad way. I really do fear for their existence particularly in their salvation is Peter Risdale !

 

Regards.

 

We are where we are, eh LB?

 

Great to see you back - give my regards to Mo and tell him it ain't over til it's over!

[TheLegalBeagle]

LB, can we expect to see a refreshed interest in the MC/MS bid, after the expected departure of, BB and GO?

 

Hi BOTN,

 

I am aware MS is to meet with ML to see if there is a way forward, but thus far such a meeting has not proven possible given ML's commitments.

 

Regards.

[TheLegalBeagle]

LB Do you have any inkling on the proposed deal realised next week?

 

Hi 1517sharps,

 

Possibly...but it is for the board to present details to the fans and shareholders in an open and fully transparent way.

 

Regards

[JB78]

Hi 1517sharps,

 

Possibly...but it is for the board to present details to the fans and shareholders in an open and fully transparent way.

 

Regards

 

unfortunately LB as we all know.....that wont happen.

 

what will happen is Dickin will spin it so that it sounds a lot better than it actually is, he will give all the positives with none of the negatives and it wont be until a year a two down the line when we find out weve been ****** again.

 

i would prefer Lloyd to present it to Mark Sims, warts and all, and then if he thinks its right for the club then i will be happy and so will many others.

Sims then gets on board and the club re-engage with yourself and Mo and we could fly this league and the next.

[Caroline Oakes]

unfortunately LB as we all know.....that wont happen.

 

what will happen is Dickin will spin it so that it sounds a lot better than it actually is, he will give all the positives with none of the negatives and it wont be until a year a two down the line when we find out weve been d1cked again.

 

i would prefer Lloyd to present it to Mark Sims, warts and all, and then if he thinks its right for the club then i will be happy and so will many others.

Sims then gets on board and the club re-engage with yourself and Mo and we could fly this league and the next.

 

 

And then I've possibly died and gone to heaven.

[BACK OF THE NET]

Hi BOTN,

 

I am aware MS is to meet with ML to see if there is a way forward, but thus far such a meeting has not proven possible given ML's commitments.

 

Regards.

 

LB,

 

If the rumours, are proven, regarding directorships being offered, in return for the proposed investment,currently awaiting official anouncement,do you see a possible way forward by opening a dialogue with the new board members whoever they maybe?

And further to this, do you imagine it may be,the new investors intentions to approach you/mc/ms with a view to taking the club forward?

 

cheers

[BACK OF THE NET]

Oh well, looks like I missed him,but I can smell the barmaids apron,:drink::drink: so its time for me to make an exit as well :D