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, Jul 14, 10:20:16