Which could well highlight the problem.

If Cullum has, as hinted at, refused to budge from a budget of ?20m then he doesn't really fill that criteria.

Again, this is all rumour and speculation but if he DOES want control for his ?20m, even without buying shares from Deals and MWJ he'd have to spend a large slice of the ?20m on shares in a new issue.

Once he has the majority, it appears the current debt will be called in, leaving him to find ?16m to pay axa and RBS or take another loan.

That's before you start looking at the directors loans.

That's his ?20m budget gone, and NOTHING has gone to GR.
THerefore, outside the criteria they set in that statement surely?

Posted By: megson on July 14th 2008 at 10:20:16

Message Thread

And yet they still don't ask the obvious question that is the key to the whole matter (NCFC) - Jim, Jul 14, 09:33:51
- Bloody right! (NCFC) - Old Git, Jul 14, 09:54:03
- Delia had always said she wasnt expecting or wanting to get any money back (NCFC) - phrankin, Jul 14, 09:41:06
  - ... (NCFC) - malkybarkid, Jul 14, 09:51:58
    - WW2 (n/m) (NCFC) - phrankin, Jul 14, 09:55:45
  - Not quite what she has said (NCFC) - Jim, Jul 14, 09:50:25
  - Not quite what she has said (NCFC) - Jim, Jul 14, 09:49:21
    - errr (NCFC) - phrankin, Jul 14, 09:54:58
      - Good quotes (NCFC) - Old Git, Jul 14, 09:57:01
        
        some of them: (NCFC) - phrankin, Jul 14, 10:03:36
        
        And here is the full AGM one: (NCFC) - phrankin, Jul 14, 10:05:59
        
        Which could well highlight the problem. (NCFC) - megson, Jul 14, 10:20:16
        
        You are right, no-one is ever going to fill that criteria (NCFC) - phrankin, Jul 14, 10:29:31
        
        and even that might not be too much of a problem (NCFC) - megson, Jul 14, 10:33:14
        
        of course Delia had to pay 700,000 for Watling's shares (NCFC) - phrankin, Jul 14, 10:32:24
        
        ?9m is the MAX for theirs is it not? (NCFC) - megson, Jul 14, 10:36:09
        
        I think so yep - nothing is easy in this. (NCFC) - phrankin, Jul 14, 10:56:38
        
        Yep its a bloody minefield, which is why somebody needs to lay it all out. (NCFC) - megson, Jul 14, 11:09:24
        
        Agreed, we know nothing really (NCFC) - phrankin, Jul 14, 11:20:07
  - Repeat hourly throughout the day (n/m) (NCFC) - BerlinCanary, Jul 14, 09:46:27
    - Sorry, it's the pickled onions (n/m) (NCFC) - Old Git, Jul 14, 09:58:49
  - ... (NCFC) - Johnny Comecardiff, Jul 14, 09:44:22
- None of us really know anything (NCFC) - Chalk Hill Bitter, Jul 14, 09:36:51

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