When he could put it in as a loan and guarantee himself a return on that? He’s a business owner not a fan. He’s sailing us through this pandemic well enough that I trust that he’ll sail us through the rest of it.
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I would imagine a loan from Ron would be interest free given his 66% ownership.A rights issue would be difficult to arrange.There are 125million shares of which Ron or his company hold about84million.So an issue at say 1p per share means he would have to put in £840K and the other shareholders £410K probably not worth doing but if the issue was priced to raise a considerably higher amount Ron would have to put in even more and a lot of small shareholders couldn’t afford it. I’m sure you know all this but it seems much simpler to me that the owner pony’s up and gets the money back when possible.
I could be remembering wrongly but was Rocky's deal not a 50% sell on clause for Ashod? I think that was the chat on here and it was the only way we were able to get him. Several thought it didn't really matter because we've hardly ever sold a keeper for any substantial amount. All academic now anyway as he's leaving when his contract is up.
Share option is a non starter. Shares were available for a long time with very little real interest.
Ron has invested, he won’t now dilute and we now need to increase our own income. I’m sure Ron will invest when necessary but a share issue is about the last thing we would consider doing in the current set up.
The accounts have now arrived, so a few thoughts:-
No issues with Going Concern in the Auditor's Report, which is a relief. Some clubs might have a problem.
Our net current assets (working capital) have halved since the previous year. This is to be expected, but it doesn't look good.
Cash reserves much the same as the py.
The club has done a lot of modelling, based on different scenarios. The worst-case is that the commencement of 21/22 season is played with no fans. In that scenario, the club has sufficient resources to last until 30 June 2022.
In arriving at the above, it "forecasts significant cash from the Company's business interruption proceeds from its insurance holder".
"Plausible downside scenarios" (eg no ST income for 20/21, SPFL payments cancelled) would result in £500-750k additional cash being needed.
"Whilst the company has in the past received capital injections from shareholders, there is no certainty that funding would be available in the future. As at 26 February 2021, no commitments have been made, but the Board are confident that it would be able to access funding if required, including from the majority shareholder".
Audit fee jumped from £16.5k to £21.5k :rolleyes:
Staff numbers much the same as the py. Presumably, any redundancies happened after June.
Ron takes no salary.
No amounts due to Bydand at 30 June.
Killie post their financial results
https://kilmarnockfc.co.uk/news/fina...ding-may-2020/
Why no glossy brochure for the accounts?
Crappy production not even on headed paper.
Cost cutting on a micro scale
Well done Ron😎 look after the pennies and the pounds will look after themselves.
It had been rumoured in the past that Ron personally paid for Nisbet (or maybe it was McGennis?). Do these accounts show if that was the case or will that be next years?
https://www.67hailhail.com/news/celt...porteous-deal/
🙄 same old story since 1888. Nothing changes.
Might’ve been covered but note Shareholders need to register with the club by email to join the virtual AGM next Wednesday.
I've not received a copy of the accounts or invites to the AGMs for the last few years as I moved address. Does anyone have the email address I can contact to update my address?
If Celtic think these 3 Hibs players can help them win back the title next season then we must be doing something right.
Make 8 decent signings and we’ll be contenders ourselves :wink: