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atp

Supporters Meeting

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Yeah .. They did . After a meeting with David Sharpe and Keith Holt :)

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Yeah we have until 2014 :)

Fantastic. I have bought some raffle tickets and I wouldn't mind the draw being postponed, but I suspect legally that's not allowed.

Can I be cheeky and ask the people that have donated the Florida villa rental to do it again next year?

That would go a long way to raising the 100K

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A good response from RFL, and Furness building society, important meeting with bank to come, but looks far more positve, well done BOD. 

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the floodlights news is great news...well done to all concerned (the BOD & the RFL) in reaching this decision.

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So can I ask how we are moving forward other than the RFL "letting us off" a year?

Did the true position of the club come out?

How much is required to cover the club and how is it to be repaid?

If it is a cash flow problem people maybe able to help in the short term with guarantees in place for repayment but they need to be involved in the financial position of the club on a day to day business, including the loans taken out.

Nothing on the website and nothing on here. What’s going on with our financial crisis???????????

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So can I ask how we are moving forward other than the RFL "letting us off" a year?

 

Did the true position of the club come out?

 

How much is required to cover the club and how is it to be repaid?

 

If it is a cash flow problem people maybe able to help in the short term with guarantees in place for repayment but they need to be involved in the financial position of the club on a day to day business, including the loans taken out.

 

Nothing on the website and nothing on here. What’s going on with our financial crisis???????????

From what I can gather Mike, a Statement will be coming out soon.  But the meeting went ok. I might be wrong but a remorgage was mentioned. Over a longer period of time which is understandable. We are being crippled with interest at he moment but you will know that.

And 'letting us off for a year' is great news  Don't you think??? 

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It is great news just would have thought there would be more about the meeting..Thanks Gary I will look out for the statement

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Having now read the report in the evening mail could someone who atended the meeting comment on the following:

The news that the RFL has allowed the club till December 2014 to put the required floodlights in place is great news as the required funding will obviously fall short this season.

The morgage arrears were paid off before I left in May 2012, and the £87k refered to is not the morgage but the inherited overdraft from barclays, is this a miss print by the NWEM ?

Re negotiating the overdraft is a good idea now there is a track record for the club but IMO this will save money over the remaining period of the overdraft and not an imidiate cash raiser.

"£100k imediatly would end all debt payment problems" IMO this will depend on how the £100k comes into the club as if it is a loan then it will be required to be paid back.

Following the meeting is the Financial Crisis over or another meeting on the subject to be held or has a short term soloution been found ?

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I have been resisting posting on here in case I was accused of sour grapes or stirring the peverbial, however can we have an update as to our position and a way forward from the BoD as im getting really concerned now that the cash flow issue is going to hit us with no financial plan in place. I would have hoped that a solution would have been presented by now as I have not seen or heard anything of substance regards the meeting.

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Thanks alias but i have read that and it tells you very little.

How much is required? I don’t understand why it is an unknown... if its cash flow then surely it can only be 30k to 40k to cover the month we don’t have games and collect the gate/bar/food monies?

If you used the floodlight fund that would only leave a short fall of around 15k.

 

When I was on the BoD we knew exactly the cash flow for the whole year at the push of a computer key.

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Cash flow projection ran to 2015 and was automatically updated as numbers were crunched.

 

This was also required to work out the clubs salary cap

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Thanks alias but i have read that and it tells you very little.

How much is required? I don’t understand why it is an unknown... if its cash flow then surely it can only be 30k to 40k to cover the month we don’t have games and collect the gate/bar/food monies?

If you used the floodlight fund that would only leave a short fall of around 15k.

When I was on the BoD we knew exactly the cash flow for the whole year at the push of a computer key.

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Mike, in the report it does say that the BOD are waiting to speak to barclays and because they haven't they can not tell us an exact figure.

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I do not want to get into an argument over this but I’m very concerned especially as I’m a guarantor for the loan from last year.

 

I fail to see why a conversation with Barclays means they can’t give a required figure Paul. Whenever I approach the Bank the first thing they ask is how much do you need, how long do you need it for and can we have 24 months prediction, 13 week cash flow and a list of creditors and debtors. Without this information they will give you nothing. These reports should be updated on a day to day basis and monthly management accounts  given to the BoD.

 

This is why I cannot understand why the cash flow requirement is not available and as one of the guarantors for a loan I feel I am entitled to ask.

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No arguments Mike... Maybe the club are not asking for cash and more along the lines of help with the repayments. As you have told us that you are a guarantor against a loan for the club why not phone and have a private discussion with the chief financial officer.

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Mike, in the report it does say that the BOD are waiting to speak to barclays and because they haven't they can not tell us an exact figure.

 

 

Paul  I think that the meeting with Barclays is to re negotiate the £87k overdraft that remains from 2011, I negotiated re payments with Barclays in 2011/2012 and the overdraft was being paid back quarterly.  I suspect that now the track record of making the payments is there  then the BoD will be re negotiating the interest that is being charged on the remaining payments. Barclays is no longer the  day to day operating account for the club.

 

This however will have little effect IMO on the current financial crisis situation

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I have already been informed by the CFO and the BoD that I am not privy to the accounts anymore when I was asked not to continue with the salary cap returns for the RFL as im no longer a director. If the club is in financial difficulty no matter if its cash flow or losing money it should be the CFO and BoD contacting all those affected. I have asked the questions on here and a call from someone would have been appreciated to explain the position we are in. Who knows we may have been able to help!

If its a cash flow problem it requires a sort term cash injection that can be shown to be repaid in a given time frame, if the information is available as to the position why is it not being shared with the debenture holders and general public.

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As you are a guarantor for a loan Mike and the Bank hasn't come knocking on your door, maybe the Bod are doing something right!

You and Neil were both members of the BoD so surely you must know how a club works when giving out information regarding finances. I'm sure both of you were privy to information that couldn't be released to the debenture holders and the general public until the time was right.

As you have both read the Evening Mail article, does it not state there will be an EGM called this month where you will get all the information you need.

Why would you need to keep posting on here about the club finances. IMO it doesn't make sense.

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Your right Gary I really should wait until the bank knock on the door before I ask questions regarding the BoD announcing to everyone that we are IN a financial crisis.

As for not releasing information and me constantly posting about the Clubs finances your right again how dare I ask for clarity of a situation that THEY have announced to the World and it's not as if I have a vested interest in the Club survival.

Transparency! was that not the word used when the Board took over?

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My final point Livo is all I'm asking is what is required! I'm not asking for a full breakdown of the clubs finance. My concern is that they can not or will not give this figure and that rings alarm bells for me as stated in previous posts. I cannot make the EGM if it is before the 7th of June as I'm away overseas nor could I make the Last meeting where I would have raised my concerns and asked the questions I wanted answering.

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It seems obvious that clarity  was not found at the Crisis meeting. Lets leave this thread until the next meeting were the vital questions need to be asked and answered before there is not a club to chat about.

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sell CP pay off the debt, buy a new stadium, less running cost happy days :-)

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