Re: THE REAL PROBLEM AT STAINES

By allen b25/1/2020 19:06Sat Jan 25 19:06:57 2020In response to Re: THE REAL PROBLEM AT STAINES

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First point: I do not intend spending the time to go through 10 years of accounts, but I think you now accept that your assertion that support amounting to "literally millions every single year" is incorrect.

The question of why would they continue to finance it as a going concern, from what you are saying the business is being turned around as you suggest that the losses were far greater in past years. As 3 of the current Directors are also Directors of Downing LLP and that company has leant TC £3m Downing LLP would appear to have a close interest in the success of the club, I am unwilling to speculate why as I am only prepared to deal with published facts, as I do not want to follow you down the road of libel.

Second point: Again I will not speculate, but some companies have been known to swop debt for equity, though I am not suggesting that this has happened in this case, nor am I suggesting that there has been any wrong doing.

Third point: Yes, 3 of the 4 Directors are also Directors of the biggest investor, whilst you appear to find this sinister, I find it totally unsurprising and can see nothing wrong in this.

Fourth point: As previously mentioned I am not interested in history as, if and I say if, in the past, small investors money was used to finance TC I have no reason to think any losses were incurred and for the two years I looked at the accounts were no small investors funds were invested.

I repeat that I have seen nothing in the accounts of the Thames Club or Downing LLP that can in anyway be criticised, nor do I see any basis for conspiracy theories.