ContinueWe use cookies to ensure that you get the best experience on our website; if you continue without changing your settings - or dismiss this message - we'll assume that you are happy to receive all cookies on Forums.Football Web Pages.co.uk

Borochat

Return to front page

Newest article: Re: EFL to appeal... by AndyCYesterday 23:59Yesterday at 23:59:04view thread

Oldest article: Oh well... by RockyBottom7/3 16:35Sat Mar 7 16:35:56 2020view thread

MenuSearch

Next thread: National League to be cancelled by Mercury 8822/4 13:08Wed Apr 22 13:08:26 2020view thread

Investors

By Baldock (BALDOCKBORO)9/4 12:16Thu Apr 9 12:16:13 2020

Views: 1584

I didn't invest in the North Stand or the other bond thing.

Given the undoubtedly parlous state of our finances, even without the impending threat of relegation, how likely is it that the club will seek to defer payments of any interest or bonuses?

Even if the payments are not imminent, recovering from this crisis will take years.

Is there any small print that allows the club to seek a delay? How does such a request go down with you if you invested? I know that will vary depending on personal circumstances

reply to this article | return to the front page

Re: Investors

By Sev20/4 19:33Mon Apr 20 19:33:23 2020In response to InvestorsTop of thread

Views: 930

Got the email today offering bondholders the option to forego interest to help the club.

reply to this article | return to the front page

Re: Investors

By Handyandy123/4 09:30Thu Apr 23 09:30:05 2020In response to Re: InvestorsTop of thread

Views: 693

How do you feel about that Sev?

reply to this article | return to the front page

Re: Investors

By Sev23/4 13:59Thu Apr 23 13:59:13 2020In response to Re: InvestorsTop of thread

Views: 591

I've waived mine.

But I was on vouchers so not really going to help that much. As they don't need to find the cash to pay the vouchers out.

I suspect it's aimed more at the cash interest receivers who will be a financial/cash flow burden on the club. Also supported by the fact they're offering them the option to swap to receiving 8% vouchers instead of the 4% cash.

reply to this article | return to the front page

Re: Investors

By Jonnym823/4 14:17Thu Apr 23 14:17:29 2020In response to Re: InvestorsTop of thread

Views: 586

Imagine how many portions of cheesy chips one could consume with 8% vouchers

reply to this article | return to the front page

Re: Investors

By Puds (Chuds)23/4 16:36Thu Apr 23 16:36:30 2020In response to Re: InvestorsTop of thread

Views: 554

None because they cannot be used in the refreshment bars.

reply to this article | return to the front page

Re: Investors

By Cruffers24/4 09:35Fri Apr 24 09:35:50 2020In response to Re: InvestorsTop of thread

Views: 450

The curse of outsourcing.

reply to this article | return to the front page

Re: Investors

By Jonnym823/4 17:58Thu Apr 23 17:58:45 2020In response to Re: InvestorsTop of thread

Views: 483

What an outrage

reply to this article | return to the front page

Re: Investors

By jayess9/4 13:47Thu Apr 9 13:47:28 2020In response to InvestorsTop of thread

Views: 1415

The 'bond thing' has no payback attached to it, only a dividend payable on promotion.
My decision to contribute (modestly) was a gesture of faith rather than any kind of investment. While I wish Phil had spent it more wisely, given it was meant to aid the promotion push, it doesn't keep me (or him) awake at night.

reply to this article | return to the front page

Re: Investors

By Puds (Chuds)9/4 13:46Thu Apr 9 13:46:21 2020In response to InvestorsTop of thread

Views: 1365

Think unless you sell the shares during one of the Tifosy sharedealing windows the only perks for that were money if we get promoted whilst maintaining the shares, wasn't it? So effectively a promotion dividend. Don't see any way investors in that could help the club here, without investing further.

For the Norf Stand, there is a caveat in place whereby if we got relegated the club could delay returning the money by a year, so extending it from a five-year bond to a six-year bond. Not aware of any other terms in place. The repayment isn't due for another three seasons on that so in the immediate term investors could only assist by deferring (or voiding) any interest payments (we have had the first two years, next one would be due in September).

I would have no problem with them delaying repayment of the investment, even in the event of us staying up, but believe it would be something each investor would have to individually agree to with the club and isn't something the club could action across the board without agreement, unless we went down. And guess I would be fine with no interest this year as well, although would miss my free beer vouchers.

reply to this article | return to the front page

Re: Investors

By Sev9/4 13:45Thu Apr 9 13:45:13 2020In response to InvestorsTop of thread

Views: 1309

I can send you a pdf of the bond instrument for the north stand bondholders scheme, if you're interested (already got your email address).

I think that has all the conditions etc in it.

Worth remembering the bond is held in a separate company Stevenage Football Club Finance PLC (I think) as opposed to Stevenage FC Limited but if the club went bust then it wouldn't be able to repay the finance co so same effect I guess.

Doesn't appear to account for deferrments but does describe default events, guarantors etc.

Personally I'd written off the capital in my head but was expecting interest payments, so that would be disappointing if those stopped before the 5 years were up.

No suggestion yet of there being any problems though... other than y'know the whole country being on it's knees!

Edit: the invitation document highlights risk one of which funnily enough is:

"Business Interruption

A major incident such as a terrorist attack or pandemic outbreak of illness, or any event which impacts upon the Club's mainframe systems, key central support functions or information technology systems could affect the clubs ability to trade and have an adverse impact on the Club's financial performance.
"

So can't say we weren't warned!

Edited by Sev at 13:59:24 on 9th April 2020
Edited by Sev at 14:00:58 on 9th April 2020

reply to this article | return to the front page

Re: Investors

By Baldock (BALDOCKBORO)9/4 13:59Thu Apr 9 13:59:50 2020In response to Re: InvestorsTop of thread

Views: 1284

Thanks, nah you're alright on the doc.

I was just wondering if the club would be hugely disadvantaged by payouts when it had even less money than it expected.

Edit: I know some businesses have specific major incident insurance for such things at an extra premium (terrorism and pandemics are normally excluded from policies). The Lawn Tennis Association are claiming £40m plus apparently having paid for pandemic cover.

Edited by BALDOCKBORO at 14:02:31 on 9th April 2020

reply to this article | return to the front page

Re: Investors

By Puds (Chuds)9/4 14:34Thu Apr 9 14:34:51 2020In response to Re: InvestorsTop of thread

Views: 1271

Thought they were getting £140mil rather than £40mil? It has cost them just under £40mil to insure over the last 19 years.

The most we would be paying out is £48k per year if everybody took club credit (so could only spend it at the club), or £24k if people selected interest payments in to their banks.

reply to this article | return to the front page

Re: Investors

By Baldock (BALDOCKBORO)9/4 16:22Thu Apr 9 16:22:57 2020In response to Re: InvestorsTop of thread

Views: 1183

Think you're right on Wimbledon.

Seperate question... Reckon we've had our rent deferred? Sharon has always been a big fan.

Assume business rates are on hold as per the Govt scheme.

reply to this article | return to the front page

Re: Investors

By Puds (Chuds)9/4 17:27Thu Apr 9 17:27:45 2020In response to Re: InvestorsTop of thread

Views: 1155

The cynic in me thinks PW is fully aware the great work we are doing as a club at the minute will come in very handy in favourable treatments when we need it in future.

Hopefully with regards to the FL more than anything else.

reply to this article | return to the front page

Re: Investors

By jayess9/4 20:55Thu Apr 9 20:55:29 2020In response to Re: InvestorsTop of thread

Views: 1039

The cynic in me agrees with the cynic in you.
In less troubled times, you would have a like.

reply to this article | return to the front page

Previous thread: Meanwhile our friends at Oldham by Hitchin Callling23/4 12:10Thu Apr 23 12:10:55 2020view thread