Horrible rumour

[Jacko51]

Does it jean? Or will they be new paid shares and the nil paid are still used as nil paid, I.e 527k worth of shares for the board. I Snyder understand why the Sc doesn't just sue the board for diluting the share values by issuing nil paid shares yet not offering them to the other shareholders .

 

Someone has to pay for those nil paid shares. At the moment Deakin and Miller are liable for those payments and they clearly are in no position to pay. If the club were to go into administration, the Administrator will come on those two for the cash. Miller will just scarper probably and in financial terms, I imagine he is a "man of straw". Deakin, on the other hand, lives here and has a house. If the worst came to the worst he could lost that or some other assets if he has to pay up. He must be desperate to get someone to cough up the cash for those shares. I very much suspect that no new shares will be issued until those nil paid ones are paid for.

[Birches Head Fred]

Someone has to pay for those nil paid shares. At the moment Deakin and Miller are liable for those payments and they clearly are in no position to pay. If the club were to go into administration, the Administrator will come on those two for the cash. Miller will just scarper probably and in financial terms, I imagine he is a "man of straw". Deakin, on the other hand, lives here and has a house. If the worst came to the worst he could lost that or some other assets if he has to pay up. He must be desperate to get someone to cough up the cash for those shares. I very much suspect that no new shares will be issued until those nil paid ones are paid for.

 

There may be someone willing to purchase those shares......at the right price of course.

[Fosse69]

There may be someone willing to purchase those shares......at the right price of course.

 

Which is £5 each of course.============

[valiantms]

Why are they still here? Why are they still trying to defend their position when no-one wants them here?

 

They must be hiding something?

 

Agreed. I could understand if the club were doing well. That way staying in and reaping the rewards would make sense. But at the moment we are losing money hand over fist, and look set for admin by the start of next season at the latest. Even if it is to protect their investment, that is better done by letting someone else try to turn the club around. There is no logical financial reason for them to want to stay. So if it aint money, what is it? The only reason I can see is to avoid legal proceedings, although that is only my own speculation.

[Warren]

Lets go back to basics. A loan is a contract that requires payment of interest and repayment of principal. Investing in shares in Port Vale is throwing money down the drain unless there are assets left to be stripped which doesn't seem that likely. I can't see this unless there are wider facts.

[Paul6754]

I can't see a Gib Loan Co buying 277k worth of shares especially if Vale are close to admin, unless they're are totally stupid. Also accepting V2001 shares as payment for the loan is crazy as the shares could be worthless in a very short time, only a total numpty would do that. Why would they be interested in PVFC.

 

It wouldn't surprise me that PM/PD (especially PM) have used part of the Gib loan to pay towards the nil paid shares.

 

If people from this Gib Company are being proposed as directors then I'm sure the SC would inform the FL that the the company is listed on a blacklist viz the "fit and proper persons test".

[werstayinup]

Why are they still here? Why are they still trying to defend their position when no-one wants them here?

 

They must be hiding something?

 

Of course they are and everyone knows it,why else would you hang on to something losing money EVERY day.

[CAVALIER]

Is this not the only way that the gibraltans will stand any chance of getting their money back? If we go bust then they will get FA and who knows what story Lloyd has been telling them.

[Alan Baker]

Someone has to pay for those nil paid shares. At the moment Deakin and Miller are liable for those payments and they clearly are in no position to pay. If the club were to go into administration, the Administrator will come on those two for the cash. Miller will just scarper probably and in financial terms, I imagine he is a "man of straw". Deakin, on the other hand, lives here and has a house. If the worst came to the worst he could lost that or some other assets if he has to pay up. He must be desperate to get someone to cough up the cash for those shares. I very much suspect that no new shares will be issued until those nil paid ones are paid for.

 

I think that I remember LLoyd saying a few weeks ago that the nil paid shares were almost all or nearly all paid for.

 

Given the BS at the moment I think that we HAVE to assume that some new money and shares could be or have been issued.

[old sage]

I can't see a Gib Loan Co buying 277k worth of shares especially if Vale are close to admin, unless they're are totally stupid. Also accepting V2001 shares as payment for the loan is crazy as the shares could be worthless in a very short time, only a total numpty would do that. Why would they be interested in PVFC.

 

It wouldn't surprise me that PM/PD (especially PM) have used part of the Gib loan to pay towards the nil paid shares.

 

If people from this Gib Company are being proposed as directors then I'm sure the SC would inform the FL that the the company is listed on a blacklist viz the "fit and proper persons test".

I have had a good think about this one and at first I thought it would be a stupid move by the Gib Loan Sharks to change the loan into an investment in the club.

Then it becomes clearer. If the board have persuaded them that they are in great danger of not getting their loan back if the present board are removed because as has been stated by the SC that if it's is found the club is insolvent then the club will be placed in Admin.

So it would make some kind of horrible sense for them to invest their loan even if only in the short term to fend off the takeover bid.

Does that make some kind of sense?.

 

All that I know is this board will kill the club if this rotten lot prevail after the 13th March. I know some will still think attending Port Vale is a pilgrimage but the clearer sighted will turn their back and I will be one of them for certain.

I loved my dog but when he was incurably sick I had him put down. Port Vale are sadly in danger of becoming like my old dog!!:(

[Timothius]

I think that I remember LLoyd saying a few weeks ago that the nil paid shares were almost all or nearly all paid for.

 

Given the BS at the moment I think that we HAVE to assume that some new money and shares could be or have been issued.

 

He also said that the initial cash from BSI was in the bank and will secure our future, he was lying. You should have learnt that by now Al. If these shares had been paid for, we wouldnt be behind with the council loan repayments.

[Trentham Lakes Valiant]

I can't see a Gib Loan Co buying 277k worth of shares especially if Vale are close to admin, unless they're are totally stupid. Also accepting V2001 shares as payment for the loan is crazy as the shares could be worthless in a very short time, only a total numpty would do that. Why would they be interested in PVFC.

 

It wouldn't surprise me that PM/PD (especially PM) have used part of the Gib loan to pay towards the nil paid shares.

 

If people from this Gib Company are being proposed as directors then I'm sure the SC would inform the FL that the the company is listed on a blacklist viz the "fit and proper persons test".

 

Don't know anything about the tax system in Gib. but perhaps they might need to 'lose' some profit:unsure:

[Alan Baker]

He also said that the initial cash from BSI was in the bank and will secure our future, he was lying. You should have learnt that by now Al. If these shares had been paid for, we wouldnt be behind with the council loan repayments.

 

I agree but it would be foolish to assume that there are no additional shares.

[MarkCh]

I agree but it would be foolish to assume that there are no additional shares.

 

I agree.

 

These are the selfsame people who set up Grindco on the quiet - the full details of which are still not out in the open. The same regime that gave us the wonderful world of nil paid shares. The same individuals who clearly accessed the proxies prior to the last EGM and thought nothing of applying inappropriate pressure to elderly shareholders. The same set up that began the last EGM by 'warning' us all of the possible far-reaching ramifications regarding the council loan should the existing board be voted off - only to then openly flout the conditions of the loan themselves subsequently.

 

Do we not yet realise that these people will do anything and stop at nothing to manipulate the outcome of the upcoming EGM? They are utterly without shame or conscience. I would be more surprised if there weren't a few nasty surprises when the current existing share picture is revealed.

[Jacko51]

I think that I remember LLoyd saying a few weeks ago that the nil paid shares were almost all or nearly all paid for.

 

And when he said that he was guilty of what Churchill would have called a terminalogical inexactitude.