BECAUSE HE DOES NOT NEED TO PAY ?56 MILLION

?56 million is what someone would need to pay to come in, buy 100% of the share capital, buy out all of the current directors, pay off all the debts and repay the directors loans plus guarantee ?20m for transfers.

In reality if he can reach a sensible agreement with Delia/MWJ and the Turners and can agree it with the banks he could acquire the stake he needs for about ?9m and still have them all on board as shareholders/directors.

Posted By: Jim, Jul 1, 11:14:17