Re: Multi million pound offer.......

By Arthur22/12/2020 19:14Tue Dec 22 19:14:13 2020In response to Re: Multi million pound offer.......

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Sadly the Thames Club Limited have not yet filed their accounts. Bearing in mind 25 nd 28 December are bank holidays, filing times seem very short. A multi million offer has been made for the freehold to guarantee the long term survival of the club. Thirdly, there is a partner of Downings LLP on the board of the Thames Club. The majority of the shares in the Thames Club (96%) are hell by TT Nominees. This is for administrative purposes - and represents "a number of investors." The voting control of those shares is operated by Downings LLP. Downings LLP refuse to answer simple question - not just "swerving' but keeping their mouths shut - no comments at all. It is also a matter of fact (as are the previous comments) that the Thames Club have yet to give any return to investors by way of dividend since it has been trading. It is no fault of the Thames Club, nor Downings, that the pandemic has necessitated the closure of the Thames Club activities for 2020. My guess would be that no dividend will be declared for this year. The questions therefore are why would anyone invest in the Thames Club. They are not in the business of Property development according to their definitions in their company accounts. The same is true from a review of the Downings accounts. Possibly both parties see property development as a fortuitous route out of the situation. This is dependent on land values in todays market. I understand the football club had the freehold valued and made an offer based upon the latest commercial valuations. We must remember the housing market is currently buoyed by the "stamp duty holiday". However, in a climate where people are worried about their jobs - moving house is not currently a priority formally people. The housing market is depressed and the Government are trying to kick start development and struggling. There is no planning permission for Wheatsheaf Lane. The questions that need to be answered are by the Thames Club and by Downings. They need to be transparent about their intentions and why an investment in the Thames Club is worthwhile.

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