lingard Posted October 11, 2018 Share Posted October 11, 2018 private equity firm to pump in 2 million to develop land if we sign it over to them...we keep controlling share and they risk the cash in order to develop to provide an income from out assets. AGM next week and a vote on the night to... stay as we are share holders stump up the two million or vote for the private equity plan discuss. I demand to have some booze, I want it here and I want it now! Link to comment Share on other sites More sharing options...
Robin Evans Posted October 11, 2018 Share Posted October 11, 2018 Stay as we are = No change..... land we can't use. Assets not being realised. Use those assets wisely = extra income. Yes i know that's a simplistic view and we need more info.... but it does feel like owning a sweet shop and not being allowed to have any sweeties at the mo Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 11, 2018 Share Posted October 11, 2018 Doesn't it need all the A shareholders to vote on something like that, not just those who turn up on the night? In any case I'm pretty sure that a minimum % of shareholder votes would be needed to do such a thing. I'm assuming that folks have had stuff through the post or email about this? I'm still waiting for mine. Link to comment Share on other sites More sharing options...
lingard Posted October 11, 2018 Author Share Posted October 11, 2018 needs share holder votes and proxy provision on the form if you havent had a letter and your a share holder contact the club. i know what you mean Robin. its no good sitting there and dreaming. need more info I demand to have some booze, I want it here and I want it now! Link to comment Share on other sites More sharing options...
jamescolin Posted October 11, 2018 Share Posted October 11, 2018 We need to use our assets to generate income. The method outlined does not give enough details of the proposal. How much control will they have will we generate income over the two million and will our controlling interest last? Further to take control of 18 acres for £2 million is very little. All the details need to be studied and a brief outline at an AGM is not enough. Link to comment Share on other sites More sharing options...
Robin Evans Posted October 11, 2018 Share Posted October 11, 2018 I think we need to be a bit pro-active here. If we pizz about waiting for info.... discussing it, feeding back etc etc.... it'll go on for bloody years without moving forward. Let's bash it at AGM and move it forward..... Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 11, 2018 Share Posted October 11, 2018 16 minutes ago, Robin Evans said: I think we need to be a bit pro-active here. If we pizz about waiting for info.... discussing it, feeding back etc etc.... it'll go on for bloody years without moving forward. Let's bash it at AGM and move it forward..... Private Equity firms are in business to make money for themselves, no one else. I'd agree with Colin, a brief outline at a short meeting is not the way to make such an important decision. Merely the fact that it looks as though it's trying to be rushed through is reason to be cautious. Link to comment Share on other sites More sharing options...
jamescolin Posted October 11, 2018 Share Posted October 11, 2018 Here's and alternative. WE get planning permission. We sell 2 to three acres which will generate £2 million plus. We then gradually develop the land on a leasehold basis for rented property. We get the income. The land appreciates in value and the future is secure. To bash it out sounds a quick solution but does it safeguard us. All the details are required before a 'yes' vote. If we hand over the land for a song then the assets are gone and in the future the capital of the company will slowly disappear as the outgoings exceed the income. Due to travel problems I might not make the meeting but I will do my best to be there. This needs careful thought. Link to comment Share on other sites More sharing options...
Steve Slater Posted October 11, 2018 Share Posted October 11, 2018 The big issue is not mentioned- Planning Permission. The land is worth a lot more with this than without, and I have trouble understanding why its not a foregone conclusion? Half the farmers in Castleford have been turned into multi-millionaires on the back of development on green belt land, so why not this bit of scrubland and former allotments? Shopping malls were planned and planning permission granted on green belt at Glasshoughton and Newmarket because council tax payers wanted new stadia for Wildcats and Tigers, so what do the council tax payers of Featherstone want? Would they support a planning application or not? A few years ago the labour councillors lost their seats over a swimming pool, so why has there been no pressure group set up to lobby the council into supporting a planning application? If this happened the land would be worth far more and the private equity firm would have to either pay more or settle for a lower stake in the land. Link to comment Share on other sites More sharing options...
jamescolin Posted October 11, 2018 Share Posted October 11, 2018 18 acres with planning. Value at least 16 million. Tread softly. Link to comment Share on other sites More sharing options...
Fev1983 Posted October 11, 2018 Share Posted October 11, 2018 1 minute ago, jamescolin said: 18 acres with planning. Value at least 16 million. Tread softly. That will get us to the top of SL, Link to comment Share on other sites More sharing options...
RPH Posted October 11, 2018 Share Posted October 11, 2018 2 hours ago, Fev1983 said: That will get us to the top of SL, just what Toronto thought.... you still get a Salary Cap on players.... "The trouble with quotes on the internet is that it's difficult to determine whether or not they are genuine" ....Abraham Lincoln 1809-1865.. Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 12, 2018 Share Posted October 12, 2018 9 hours ago, jamescolin said: Here's and alternative. WE get planning permission. We sell 2 to three acres which will generate £2 million plus. We then gradually develop the land on a leasehold basis for rented property. We get the income. The land appreciates in value and the future is secure. To bash it out sounds a quick solution but does it safeguard us. All the details are required before a 'yes' vote. If we hand over the land for a song then the assets are gone and in the future the capital of the company will slowly disappear as the outgoings exceed the income. Due to travel problems I might not make the meeting but I will do my best to be there. This needs careful thought. I suspect to follow this plan would cost thousand of pounds in fees etc to achieve . Therefore where would this money come from? Link to comment Share on other sites More sharing options...
David Shepherd Posted October 12, 2018 Share Posted October 12, 2018 So I assume that this private equity firm is Colm Corran, the recently appointed director of the club. Seems like a decent enough bloke, I sat next to him on the way out to Toulouse. Hopefully MC has done his homework on the man and he's not another fake sheikh. Assuming our tenure at Post Office Road is assured and that the proposal generates a decent income for us, I say go for it. However, I only hold B shares, so my opinion doesn't really count. Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 12, 2018 Share Posted October 12, 2018 I got a share through having a season ticket when the club became a limited company. Would this be an A or a B share?. Alas my address has changed and it’s years since I’ve had any correspondence. I’ve contacted the club to see what I should do. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 12, 2018 Share Posted October 12, 2018 32 minutes ago, Monkeymagic22 said: I got a share through having a season ticket when the club became a limited company. Would this be an A or a B share?. Alas my address has changed and it’s years since I’ve had any correspondence. I’ve contacted the club to see what I should do. It will be an A share. Link to comment Share on other sites More sharing options...
Steve Slater Posted October 12, 2018 Share Posted October 12, 2018 Sometimes you can be too cautious, and the memory of '83 is fading year on year as us Old 'uns pass away. Since the Destination Super League caption was dropped and Rovers stopped being Top Dog attendances have been falling. The equity company might make a few bucks, but might also make Fev more than they would on their own? I feel that the time is right to make a push both on the field and with developing other income streams. We don't know how far expansionism will go, so Fev need to get into the mix before it is too late, and also before many of us bite the dust before seeing the promised land.. Link to comment Share on other sites More sharing options...
The Blues Ox Posted October 12, 2018 Share Posted October 12, 2018 Sounds like a get rich quick scheme without looking at the long term. Link to comment Share on other sites More sharing options...
David Shepherd Posted October 12, 2018 Share Posted October 12, 2018 Be interesting to know what the projected income is, and what kind of development we are looking at. Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 12, 2018 Share Posted October 12, 2018 I’m in favour of this, we get a cash injection and then an ongoing income when the development is completed. Ok, the equity firm will make plenty, but what’s the point in never utilising asserts which would make the club stronger. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 12, 2018 Share Posted October 12, 2018 23 minutes ago, Monkeymagic22 said: I’m in favour of this, we get a cash injection and then an ongoing income when the development is completed. Ok, the equity firm will make plenty, but what’s the point in never utilising asserts which would make the club stronger. What cash injection? Reading the (admittedly limited) information that's been posted there appears to be no money up front. We effectively hand over the land (possibly keeping a 50 %+1 share), they use up to £2m to 'develop' it and we (may) get an income at some point in the future. Link to comment Share on other sites More sharing options...
Monkeymagic22 Posted October 12, 2018 Share Posted October 12, 2018 Just now, Les Tonks Sidestep said: What cash injection? Reading the (admittedly limited) information that's been posted there appears to be no money up front. We effectively hand over the land (possibly keeping a 50 %+1 share), they use up to £2m to 'develop' it and we (may) get an income at some point in the future. If we don’t accept this deal, I guess we would need to find an alternative way if raising the money required to develop the land, or alternatively sell the land. Link to comment Share on other sites More sharing options...
gingdong Posted October 12, 2018 Share Posted October 12, 2018 1 hour ago, The Blues Ox said: Sounds like a get rich quick scheme without looking at the long term. Couldnt be further from the truth, the idea is we will lease it out and get paid 3/400k a year indefinitely Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 12, 2018 Share Posted October 12, 2018 38 minutes ago, Monkeymagic22 said: If we don’t accept this deal, I guess we would need to find an alternative way if raising the money required to develop the land, or alternatively sell the land. Yes, but something like this shouldn't be rushed into. I doubt there'll be many (if any) present at the AGM who will be able to pass sound judgement on whether it's a good deal or not for the Club/shareholders during the time of the meeting. Full details should have been sent out with the notice of the AGM to allow shareholders adequate time to study them. Link to comment Share on other sites More sharing options...
Robin Evans Posted October 12, 2018 Share Posted October 12, 2018 The country voted to come out of the Eu with little or no valid info at all.... and now we need every detail?? I gi up Link to comment Share on other sites More sharing options...
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