a mate, a shareholder, has just rung as his wife called to say they had received a letter in the post from the Club today asking them to vote on a buy out of the training ground by Maurice Hatter, Derek Chappell and an other director who would then lease it back to the Club. Not the sort of couple to wind me up and asked me if anyone else had received one. Has anyone ??
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So what?
End all april fools threads
are we meant to talk about all this? i guess it's no secret?
Selling the freehold of property known as Aries Sports Ground, Sparrows Lane and freehold of property known as the Ex-Charlton Park Rugby Ground, Eltham to Alliance Trust Pensions (Richard Murray) and The Maurice Hatter Foundation for £1m.
also
The sale of 1 and 2 Landsdowne Mews to 56 Developments LLP (Robert Whitehead) for £200,000
Also £300,000 for the Pippenhall Sports Ground in SE9 to 56 Developments LLP (Robert Whitehead).
Not happy that some of the key assets are being sold off even if it is to directors. I know it's needs must but still unhappy.
Meeting is at 10.00am on 15th April at the Valley in the boardroom which seems odd as that wouldn't hold many shareholders. I assume it would be moved to one of the lounges.
What with the redundancies and this it's been a depressing couple of days
Interesting. It's a bad time to be selling assets, generally. Does anyone have a view of whether they're paying over the odds to help the club, or bagging a bargain.
*Awaits answer in gloomy anticipation*
hard to say on the training grounds. How much are they worth without planning permission? How much of the total training ground does it cover? The whole lot is 27 acres but it's not clear how much of that is being sold.
On the two houses £100k each for a small house in Charlton seems cheap but not in a great location and at least one of them is used for storing Stewards equipment.
Just as it's not a great time to be selling it's not a great time to be buying either.
The question to be answered is why if the idea is to put operating capital into the club why not take more of the Bond rather than fixed assets.
And I guess the question answers itself in that having sunk a lot of money already into a bond the directors wanted a different type of security for their money. That being money that they may not be as able to spare as perhaps they could before the recession.
Grim, grim, grim.
Good, that means we won't be in administration for two years then.
There is a two year time limit on flogging off assets prior to administration to stop unscrupulous companies doing just that I believe.
Just what I thought : - (
Off now to stick my head in the oven
i must admit that is my thought too. whilst if it is way to generate some more cash then I can understand it from a short term point of view, but looking further down the line moving assets out of the clubs ownership is not something I would be comfortable with.
What fixed assets have been realised?
players aren't fixed assets btw
So two totally different things then
Seems Derek Chappell has also loaned the club another £500,000
It also says
"as a continuing gesture of support the directors who invested in the corporate bond issue have deferred the interest due on these bonds for this current financial year"
As the letter in dated 30 March I assume that means 2008/9 rather than 2009/10
Doesn't sound like the actions of "asset strippers" IMHO
Can't see a mention of that.