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DFC Owners Invest Another £2M Into Club


Gedee

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15 minutes ago, Spiritof62 said:

If I had a business that needed £2m injection for running costs, then I would be cutting the running costs very quickly.

Assuming Kamara and Caulker would bring in £1.5 to £2 m, I would be wanting them out the door PDQ.

I think Caulker could go to Celtic, they are getting pelters for their biscuit tin approach and Caulker would cost them a fee that they would be comfortable with.

I guess that’s why we are moving out of dens soon:happyyes:

 

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10 minutes ago, dblair said:

He hasn’t injected £2m at all. It is a £500k injection via share purchase to bring overall money invested to £2m

The headline in the news section is very misleading

Companies house confirms it has £2m. 

 

"Statement of capital following an allotment of shares on 9 August 2018 - GBP 2,000,000"
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12 minutes ago, GregTeamDee said:

Companies house confirms it has £2m. 

 

"Statement of capital following an allotment of shares on 9 August 2018 - GBP 2,000,000"

Apologies i I stand corrected! 

😮 so the Tully article is wrong when it states £500k which bring total investment up to £2m since FPS have arrived? No surprise really 🙄

Curious 

Eta. £2m? I still can’t get my head around the amount and the timing of this. Seems overkill to balance the books considering we have reduced the first team numbers considerably. 

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53 minutes ago, GregTeamDee said:

Companies house confirms it has £2m. 

 

"Statement of capital following an allotment of shares on 9 August 2018 - GBP 2,000,000"

Pretty sure that’s the total capital after the allotment bud, ie previous capital around £1.5m +allotment around £500.000 on 09th August =total statement of capital £2.0m

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This transaction was described by the Tele as 'converting debt into shares rather than loans', which seems more like it was largely an accounting transaction which required formal board approval....ie, clearing accumulated short-term loans from Keyes to cover deficits, by releasing the rest of the issued (available) shares to replace the debt/loan value from the balance sheet.

It's entirely possible these 'debts' cover various operating deficits going back a season or more......and it's also entirely possible that Keyes may have also put in a wee bit more cash at the same time.

We wouldn't want to over-emphasise the 'cash in' bit....it might give other people the idea that the club now has a wee pot of cash, and put transfer prices up!

....we're definitely not 'awash with cash' as JimM was implying a few weeks ago :o

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12 minutes ago, WoodStein said:

This transaction was described by the Tele as 'converting debt into shares rather than loans', which seems more like it was largely an accounting transaction which required formal board approval....ie, clearing accumulated short-term loans from Keyes to cover deficits, by releasing the rest of the issued (available) shares to replace the debt/loan value from the balance sheet.

It's entirely possible these 'debts' cover various operating deficits going back a season or more......and it's also entirely possible that Keyes may have also put in a wee bit more cash at the same time.

We wouldn't want to over-emphasise the 'cash in' bit....it might give other people the idea that the club now has a wee pot of cash, and put transfer prices up!

....we're definitely not 'awash with cash' as JimM was implying a few weeks ago :o

Looks like Harry is worth listening to then. 🤭

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After the latest a SPFL TV money fiasco, Neil Doncaster is waxing lyrical about attracting a new partner who are willing to pay him big bucks for the TVs rights.

If he fails once again to get our clubs a decent deal he should get his jotters.

Apart from one or two exceptions our clubs are living a hand to mouth existence.

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1 hour ago, WoodStein said:

This transaction was described by the Tele as 'converting debt into shares rather than loans', which seems more like it was largely an accounting transaction which required formal board approval....ie, clearing accumulated short-term loans from Keyes to cover deficits, by releasing the rest of the issued (available) shares to replace the debt/loan value from the balance sheet.

It's entirely possible these 'debts' cover various operating deficits going back a season or more......and it's also entirely possible that Keyes may have also put in a wee bit more cash at the same time.

We wouldn't want to over-emphasise the 'cash in' bit....it might give other people the idea that the club now has a wee pot of cash, and put transfer prices up!

....we're definitely not 'awash with cash' as JimM was implying a few weeks ago 

Spot on Woodstein. This is usually a paper exercise to transfer corporate debt from a loan which would be required to be repaid, into shares which can only be sold to allow the holder to get their money back. Pity Islay isn't able to comment, this is right up his street. 

If they go over 75% I think they may be supposed to offer to buy the minority shareholders out at the same price as they paid for the transaction that took them over this threshold.

This is not a cash injection unless the amount of the loans being converted is less than £2m. The value of the cash injection would be the difference between the loans and £2m.

I will be interested to see what happens to the minority shareholders, who have not been able to hear directly from the board at an Annual General Meeting. Not particularly concerned but it might have been interesting to see if any more money for shares could have been brought in via the minority shareholders, like DFCSS and the individuals who hold shares.

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