Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 1:02 pm  

MDF wrote:

Thanks again. I appreciate the time you have taken to make that clear.

My pleasure.

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 1:04 pm  

Whilst I know little about private companies I'd guess that Bradford Bulls shares market value would be broadly unchanged at 3/5ths of sod all. What's the value? You can't sell them, and you get no dividend. Or to put another way, if you could sell them, how would the whip-round affect the price you could get? Am I wrong? Do the shares have an appreciable value? If so, what?

And if they do have a value(or maybe even if they don't) then why not raise cash by issuing new shares and inviting supporters or anyone to buy them? I'm sure very many would prefer to do that than just throw a hundred quid away, even if the benefit of owning a share might be purely notional.

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 1:36 pm  

M@islebugs wrote:

Whilst I agree with the scentiment I can't see how that could happen. My understanding would be that a business which recieved 500k onto its books is worth 500k more than it was yesterday. By next friday the supporters of Bradford Bulls could well have made Mr Caisley approx 125k better off than he was on thursday night. I'm not comfortable with that.

Precisely. Which is why I have implored the club to say considerably more on the issues that are being raised.

As far as I can tell, the situation remains that if the club does NOT get this cash, its administration and all the risks that that entails. Which is why I cannot see a better alternative in the time frame. But that does not mean we should not expect some clarifications and undertakings regarding what happens afterwards, in return?

In all of this, I have always assumed that - even after the cash injection - the club shares would still have only nominal value. The club will never make enough money to pay dividends, and the net assets on a going concern basis would disappear on a realisation basis, so I cannot see anyone placing any material value on the shares. But should shares subsequently change hands for material value, then what you say would very much have come to pass.

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 2:14 pm  

Ferocious Aardvark wrote:

And if they do have a value(or maybe even if they don't) then why not raise cash by issuing new shares and inviting supporters or anyone to buy them? I'm sure very many would prefer to do that than just throw a hundred quid away, even if the benefit of owning a share might be purely notional.

Its a private company, so they could not invite the public to subscribe for shares without converting to a plc and issuing a prospectus. The first would take ages, and the second would be fraught with difficulties, if possible at all - and again would take ages.

You then have the issue of the existing holders, and the valuation of their shares and how to address the dilution in their voting rights (not that any of that is worth Jack Shìt the day the Court stamps the petition for Administration)

Time ain't on our side.

I would personally very very much prefer to receive shares for whatever sum I ultimately commit to. I would personally like to see a supporter-owned club if it was at all possible - then it really WOULD be "The People's Team". But its a non-starter in the time-frame. And anyway, it would prevent the acquisition by a sugar daddy (or a load of Daddylets) that we really need eventually to compete at the highest level.

[Bulliac]

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 2:48 pm  

M@islebugs wrote:

Just as soon as you provide a list of shareholders publicly offering their shares for sale and at what price.

I'll take that as meaning you can't then.

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 5:28 pm  

Bets'y Bulls wrote:

Has anyone heared this business plan we have that says if we raise a million, are then debt free and then we have can move forward?

Where is the money come from to cover month to month expenses after the initial £1m pledge?

We need to know how this works going forward

Sell a couple of young and up and coming players every year to make ends meet?

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 5:47 pm  

Bets'y Bulls wrote:

Has anyone heared this business plan we have that says if we raise a million, are then debt free and then we have can move forward?

Where is the money come from to cover month to month expenses after the initial £1m pledge?

We need to know how this works going forward

From what I understand we have enough money from gate receipts etc to pay all the bills, but the income doesn't pay off the debt so when we clear the debt the clubs income pays all the expenses.

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 6:30 pm  

I have just had a text from a friend of mine this afternoon and he has said that he saw Garry Hetherington at The Holiday Inn in Brighouse and that he met with Craig Kopczak and John Bateman,i hope that this is not true
He is not the kind of friend that would rub my nose in it what with it being April Fools day,as he is an arm chair Bulls fan too

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 7:13 pm  

Northern Boys wrote:

I have just had a text from a friend of mine this afternoon and he has said that he saw Garry Hetherington at The Holiday Inn in Brighouse and that he met with Craig Kopczak and John Bateman,i hope that this is not true
He is not the kind of friend that would rub my nose in it what with it being April Fools day,as he is an arm chair Bulls fan too

0/10. Poor effort.

Re: Peter Hood says Bulls on brink of going bust. : Sun Apr 01, 2012 7:37 pm  

John Bateman will not be going anywhere, unless it is to save the club.