Les Tonks Sidestep Posted October 16, 2018 Share Posted October 16, 2018 1 hour ago, Squidward said: Is this a fact or hearsay? If its a fact I would be interested to know how it is made up. I wouldnt have thought disbursements and Vat would have made up much of that figure so therefore somebody must have made a lot of money for a 'relatively minor change'! Looking at planning application fees it seems entirely plausible - see here for the Statutory fees for England: http://www2.eastriding.gov.uk/environment/planning-and-building-control/planning-permission/getting-planning-permission/planning-permission-costs/planning-application-fees/ Wakefield also has a Community Infrastructure Levy which is also quite significant (although residential development in Featherstone appears to be zero rated). Link to comment Share on other sites More sharing options...
Fev1983 Posted October 16, 2018 Share Posted October 16, 2018 7 minutes ago, Les Tonks Sidestep said: Looking at planning application fees it seems entirely plausible - see here for the Statutory fees for England: http://www2.eastriding.gov.uk/environment/planning-and-building-control/planning-permission/getting-planning-permission/planning-permission-costs/planning-application-fees/ Wakefield also has a Community Infrastructure Levy which is also quite significant (although residential development in Featherstone appears to be zero rated). blood hell £300k for more than 50 houses and that's just council fees what about the architecture cost!!!! I am definitely voting to develope with the equity company. Link to comment Share on other sites More sharing options...
Squidward Posted October 16, 2018 Share Posted October 16, 2018 All very interesting. Thank you LTS. it didn't seem like that long(ag)o - like that one Colin - that we were being told the club was in a good place with money in the bank. Lol Link to comment Share on other sites More sharing options...
tms Posted October 17, 2018 Share Posted October 17, 2018 now the dust has settled bottom line three questions need to be answered 1 how much money will the club get every year 2 how much will the club be paying equity firm/investor each year 3 how many years will the club be paying equity firm/ investor Link to comment Share on other sites More sharing options...
Tubby Posted October 17, 2018 Share Posted October 17, 2018 Just for comparison, there is an 8 acre plot with expired outline planning granted in Wakefield up for sale at £1.3m, whilst at the same time, a 1.4 acre plot with outline planning permission for 10 detatched houses in Halifax up for 1.5m. The location of the land and the level of planning permission obviously has a huge bearing on value. The land owned by Rovers, without planning isn't necessarily worth a great deal, but with the correct noises coming from Wakefield Council Planning Dept., it could be worth more, but even then it's worth what someone will pay and no more. The question for shareholders is whether they trust the current board to be competent and honest, with the clubs future at heart. Link to comment Share on other sites More sharing options...
fevtom Posted October 17, 2018 Share Posted October 17, 2018 It's worth noting that Wakefield Council seem to have taken a more relaxed approach to planning in the last few years. There are plenty of developments going ahead with substantial opposition. Link to comment Share on other sites More sharing options...
RobLambert Posted October 17, 2018 Share Posted October 17, 2018 47 minutes ago, fevtom said: It's worth noting that Wakefield Council seem to have taken a more relaxed approach to planning in the last few years. There are plenty of developments going ahead with substantial opposition. I wonder why ??? Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 17, 2018 Share Posted October 17, 2018 Maybe worth pointing out that under option C, using the same valuations and costs as given for B, the Club is unlikely to get £2.5m at the end, more likely a maximum of £1.5m - still a tidy sum of course. If the PE Co, or whoever, does invest they will want a better return than the one quoted for the shareholders in option B of 25% over 6 years or 3.6% pa compounded. More likely of the final £7m, £2m will be used to pay off the loan for development and £2m back to the PE Co (their original investment) leaving £3m to be divided between them and the Club. If divided equally it would be a 9.7%pa return for them, a much more likely figure they'll be looking for. Link to comment Share on other sites More sharing options...
Fev1983 Posted October 17, 2018 Share Posted October 17, 2018 3 hours ago, POR said: now the dust has settled bottom line three questions need to be answered 1 how much money will the club get every year 2 how much will the club be paying equity firm/investor each year 3 how many years will the club be paying equity firm/ investor Why dont u send that to the club they answer the emails, I even had 1 directly from colm corrin Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 My regrets. Due to illness I will not make it tomorrow. For what it is worth I reckon on balance we have to go for the c option. Let them get on with it, unless one of you is a millionaire of course. Link to comment Share on other sites More sharing options...
saddleworth Posted October 17, 2018 Share Posted October 17, 2018 22 hours ago, Blue Pike said: Just to offer people who don’t know what an acre is .An acre of land is roughly a football/Rugby pitch including its in goal areas.Can you imagine how many £150 000 plus houses you can build on this , well times that by 18 and that’s what we posess. Like Colin says I think a bad picture will be painted of our future and option C is the only option to vote for.I have given it much thought today and agree with Monkey magic that we haven’t got the funds or even the energy to persue planning permission and have resigned myself to option C going through. As in any other business which I have mentioned before;whoever has mis managed our finances need sacking as this is what happens to staff at MOST companies. Oh, I don't know about that, BP. Witness the financial crash a few years ago. Cannot recall many leaders being hounded out. Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 Wheels within wheels. Nothing new in business. Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 We used to call it mutual back scratching. Link to comment Share on other sites More sharing options...
Blue Pike Posted October 17, 2018 Share Posted October 17, 2018 38 minutes ago, saddleworth said: Oh, I don't know about that, BP. Witness the financial crash a few years ago. Cannot recall many leaders being hounded out. True. For me being a supporter of this club for half a century it’s always the same story.Just when you think the Club is smelling of roses and as supporters we are happy with the Clubs stability a debt bombshell is revealed from nowhere.Its just like the wife turning round to you and saying “ or by the way we owe £40,000 and they are on about taking our house off us “.Dont get me wrong it seems it’s not panic stations and we have been in far worse situations than this but where is the transparency and why paint a different picture by the club when we go to the meetings. Link to comment Share on other sites More sharing options...
David Shepherd Posted October 17, 2018 Share Posted October 17, 2018 1 hour ago, Blue Pike said: True. For me being a supporter of this club for half a century it’s always the same story.Just when you think the Club is smelling of roses and as supporters we are happy with the Clubs stability a debt bombshell is revealed from nowhere.Its just like the wife turning round to you and saying “ or by the way we owe £40,000 and they are on about taking our house off us “.Dont get me wrong it seems it’s not panic stations and we have been in far worse situations than this but where is the transparency and why paint a different picture by the club when we go to the meetings. I'm not sure it's a bombshell. The published accounts are there for anyone to look at and it's not like the wolves are at the door, we appear to be servicing the debt. I think the most important point is that if we are paying £10k a month in interest and debt servicing, that's £10k a month we don't have to spend on players wages. Get rid of the debt and we've got money for the squad and other improvements. I'd vote for option C (I'm going to try and buy an A share tomorrow to enable me to do it). The land is doing nothing now and the way the club is structured probably puts potential investors off. If I had the brass, I certainly wouldn't want 628 other folk chiming in with an opinion on what I was doing with the club's assets. Option C lets us develop our asset and alter our structure to be more attractive to future investors. Link to comment Share on other sites More sharing options...
David Shepherd Posted October 17, 2018 Share Posted October 17, 2018 3 hours ago, jamescolin said: My regrets. Due to illness I will not make it tomorrow. For what it is worth I reckon on balance we have to go for the c option. Let them get on with it, unless one of you is a millionaire of course. Will you be sending a proxy vote? I think there's a real danger that enough folk will vote for A to scupper the plan and leave us in a spiral of decline. Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 I am hoping that things will improve tomorrow. I have transport lined up and if possible I will be there. Link to comment Share on other sites More sharing options...
Blue Pike Posted October 17, 2018 Share Posted October 17, 2018 If the result is announced on the night,will one of you kind souls post to us the outcome please. Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 Thought you were going. Was, if I made it going to have a word. Regarding the proxy vote , that is also in hand if I fail to make it. Link to comment Share on other sites More sharing options...
Blue Pike Posted October 17, 2018 Share Posted October 17, 2018 18 minutes ago, jamescolin said: Thought you were going. Was, if I made it going to have a word. Regarding the proxy vote , that is also in hand if I fail to make it. No but will take you if required no problem Just pm me and I’ll pick you up. Link to comment Share on other sites More sharing options...
Maureen T-k Posted October 17, 2018 Share Posted October 17, 2018 ROVERS CHAIRMAN Mark Campbell has revealed how he will vote at tomorrow's AGM and explained why he feels all 'A' shareholders should do the same. READ his views here: http://bit.ly/2ymjPtv #TogetherAsOne Im Fev and im proud Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 1 hour ago, Blue Pike said: No but will take you if required no problem Just pm me and I’ll pick you up. Cheers. Eldest daughter taking me if I am fit enough. Link to comment Share on other sites More sharing options...
jamescolin Posted October 17, 2018 Share Posted October 17, 2018 Just a point. Do we need to take our share certificate if we go to prove we are 'A' shareholders or will we be on a list? Link to comment Share on other sites More sharing options...
jamescolin Posted October 18, 2018 Share Posted October 18, 2018 18 hours ago, jamescolin said: My regrets. Due to illness I will not make it tomorrow. For what it is worth I reckon on balance we have to go for the c option. Let them get on with it, unless one of you is a millionaire of course. Bad chest come up again. Can't make it. Can you tell them my vote is c as I can't even get the form down. Two questions you could put on my behalf. What happens in detail if c fails. and what is going to be the fate of the remaining land. Thanks. I will try to ring Veronica. Link to comment Share on other sites More sharing options...
Steve Slater Posted October 18, 2018 Share Posted October 18, 2018 2 hours ago, jamescolin said: Bad chest come up again. Can't make it. Can you tell them my vote is c as I can't even get the form down. Two questions you could put on my behalf. What happens in detail if c fails. and what is going to be the fate of the remaining land. Thanks. I will try to ring Veronica. Colin, As you won't be there can I please ask you what you think the various tax implications would be for various options, ie would there be any capital gains tax to pay, and at what rate, if the land was sold or if any property built on it was sold? Also, if the club received around £300K p.a. after completion, would this be taxable separately or would it just go against the club's general income and expenditure which would also include the playing budget? Link to comment Share on other sites More sharing options...
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