Scum Annoucement -
I've no inside info on what it the announcement is, but as the statement is due at 6.00am tomorrow I fear the worst.
What I suspect will be announced is either a takeover of a restructuring of their debts.
As one of the major creditors is Norwich Union, parent company AVIVIA, any such announcement is normally to made to the market out of hours so those who make a market in AVIVA shares (ie set a buy and sell price as seen in the papers), can adjust the price as a result of the news.
I think the news will be a direct write down of the debt relating to the £25m Norwich Union Bond, in lieu of shares in ITFC as it's all they can offer. This will side-step the 10 point deduction as administration (I think) needs to be agreed with the majority of creditors, not just one.
I hope I'm wrong btw
Posted By: KentonCanary on April 3rd 2007 at 23:16:06
Message Thread
- Scum Annoucement - (Other Football) - KentonCanary, Apr 3, 23:16:06
- Glad I was wrong ! (n/m) (Other Football) - KentonCanary, Apr 4, 07:21:16
- A £20m write off is hardly price sensitive info for Aviva to make a RNS to the market! (Other Football) - Commisar_Canary, Apr 4, 02:38:18
- who are worse them or fucking NU who have never done anything for their local club (Other Football) - phrankin, Apr 3, 23:38:41
- It's got fuck all to do with NU. (Other Football) - Arganth, Apr 3, 23:40:24
- and who owns Morley Fund Management ? .....Aviva (NU is one of their brand names) (n/m) (Other Football) - Commisar_Canary, Apr 4, 02:41:12
- lol ok - misinformed, misunderstood the situation and overreacted (Other Football) - phrankin, Apr 3, 23:44:40
- It's got fuck all to do with NU. (Other Football) - Arganth, Apr 3, 23:40:24
- Fucking wankers. (n/m) (Other Football) - Dog, Apr 3, 23:30:21
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