Another chunk of BSH sold off

El Mayor
13:48, Thursday 14 June 2018
[www.hkexnews.hk]

Debt for equity swap, just under 1.4billion shares to pay off £13million we borrowed from Dragon Villa (who are connected to Mr King).

Dragon Villa will become the second biggest shareholder with 19% of the company once this is complete, TTA will own 34.86%.
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Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

KROJim replying to El Mayor
13:50, Thursday 14 June 2018
Making financial moves to improve the situation then but by gaining more control?
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Re: Another chunk of BSH sold off

Blue H replying to El Mayor
13:50, Thursday 14 June 2018
So this is a swap for the money that was invested in us last season?
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Re: Another chunk of BSH sold off

El Mayor replying to Blue H
13:51, Thursday 14 June 2018
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Blue H
So this is a swap for the money that was invested in us last season?

Correct.
[www.protipster.com] [www.almajir.net]

Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

Le Mod replying to El Mayor
13:54, Thursday 14 June 2018
Is this essentially the takeover from within?

When would King be subject to a Fit and Proper Persons test? Could be problematic.
@LeMod1875
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Re: Another chunk of BSH sold off

notts_blue replying to Le Mod
13:56, Thursday 14 June 2018
See, they should have renamed the stadium the 'Dragon Villa' stadium.
QB on Morrisey:"Imagine there's a person you've never met but whose songs you liked when you were a teenager and then years later he turns out to be a bit of a bellend..."
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Re: Another chunk of BSH sold off

Tarquin replying to notts_blue
13:57, Thursday 14 June 2018
Chang Drag to Shit and I'm in
Sergio Lives
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Re: Another chunk of BSH sold off

Scoobers replying to notts_blue
13:57, Thursday 14 June 2018
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See, they should have renamed the stadium the 'Dragon Villa Blues' stadium.

Or DVB for short 8-)
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Re: Another chunk of BSH sold off

El Mayor replying to Le Mod
13:59, Thursday 14 June 2018
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Le Mod
Is this essentially the takeover from within?

When would King be subject to a Fit and Proper Persons test? Could be problematic.

It is the takeover from within, the one that some people refuse to accept is happening.

King is connected to Dragon Villa, but they have some stooge called Lei Sutong to actually front the firm. I should imagine he's now eligible for the OADT.
[www.protipster.com] [www.almajir.net]

Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

Le Mod replying to El Mayor
14:03, Thursday 14 June 2018
Has the chap from Ever Depot Ltd been subject to the test yet? Or are the EFL just absolutely hopeless at keeping track of this stuff?
@LeMod1875
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Re: Another chunk of BSH sold off

El Mayor replying to Le Mod
14:07, Thursday 14 June 2018
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Le Mod
Has the chap from Ever Depot Ltd been subject to the test yet? Or are the EFL just absolutely hopeless at keeping track of this stuff?

Yeah, he will have had to have been, for what use the OADT is.

The EFL are fliping hopeless though IMO
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Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

BlueStorm replying to El Mayor
14:08, Thursday 14 June 2018
Who owns the rest of the shares?
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Re: Another chunk of BSH sold off

Spike replying to El Mayor
14:12, Thursday 14 June 2018
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El Mayor
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Blue H
So this is a swap for the money that was invested in us last season?

Correct.

So does this help us out with debt and the FFP situation?
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Re: Another chunk of BSH sold off

El Mayor replying to BlueStorm
14:12, Thursday 14 June 2018
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BlueStorm
Who owns the rest of the shares?

Breakdown once this is complete

TTA 34.86%
Ever Depot 19.01%
Dragon Villa 19.08%
Public shareholders 27.05%
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Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

zxcv replying to El Mayor
14:13, Thursday 14 June 2018
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El Mayor
[www.hkexnews.hk]

Debt for equity swap, just under 1.4billion shares to pay off £13million we borrowed from Dragon Villa (who are connected to Mr King).

Dragon Villa will become the second biggest shareholder with 19% of the company once this is complete, TTA will own 34.86%.
Yes but Paul Suen owns TTA 100 per cent
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Re: Another chunk of BSH sold off

El Mayor replying to zxcv
14:13, Thursday 14 June 2018
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zxcv
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El Mayor
[www.hkexnews.hk]

Debt for equity swap, just under 1.4billion shares to pay off £13million we borrowed from Dragon Villa (who are connected to Mr King).

Dragon Villa will become the second biggest shareholder with 19% of the company once this is complete, TTA will own 34.86%.
Yes but Paul Suen owns TTA 100 per cent

And?
[www.protipster.com] [www.almajir.net]

Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

El Mayor replying to Spike
14:14, Thursday 14 June 2018
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Spike
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El Mayor
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Blue H
So this is a swap for the money that was invested in us last season?

Correct.

So does this help us out with debt and the FFP situation?

Honest answer is I think it has no effect, but I'm not an accountant. What I think it does is opens up the credit line to allow us to borrow more money from Dragon Villa. Which will then have to be paid off with more shares...
[www.protipster.com] [www.almajir.net]

Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

John_Smullen replying to El Mayor
14:18, Thursday 14 June 2018
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El Mayor
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Spike
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El Mayor
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Blue H
So this is a swap for the money that was invested in us last season?

Correct.

So does this help us out with debt and the FFP situation?

Honest answer is I think it has no effect, but I'm not an accountant. What I think it does is opens up the credit line to allow us to borrow more money from Dragon Villa. Which will then have to be paid off with more shares...

Are these blokes in Hong Kong and therefore not under the taking money from China malarky?
Never give someone the opportunity to waste your time twice.
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Re: Another chunk of BSH sold off

El Mayor replying to John_Smullen
14:18, Thursday 14 June 2018
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John_Smullen

Are these blokes in Hong Kong and therefore not under the taking money from China malarky?

Good question. Dragon Villa are BVI, so completely out of China's control.
[www.protipster.com] [www.almajir.net]

Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

e17blue replying to El Mayor
14:23, Thursday 14 June 2018
Blues. Owned. By. Dragon. VILLA!
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Re: Another chunk of BSH sold off

Rab C Nesbitt replying to El Mayor
14:26, Thursday 14 June 2018
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El Mayor
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zxcv
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El Mayor
[www.hkexnews.hk]

Debt for equity swap, just under 1.4billion shares to pay off £13million we borrowed from Dragon Villa (who are connected to Mr King).

Dragon Villa will become the second biggest shareholder with 19% of the company once this is complete, TTA will own 34.86%.
Yes but Paul Suen owns TTA 100 per cent

And?
:D
Fat Buddha - 'Rab C Nesbitt. He's a contrary fecker, but invariably right. He has his finger on the motherfecking pulse.'
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Re: Another chunk of BSH sold off

Le Mod replying to e17blue
14:26, Thursday 14 June 2018
It's quite amazing how we've come to be part owned by companies featuring the words Trillion Trophy and Villa in their names.

What next? 'Amazing Fulham 1975 Last Minute Enterprises'?
@LeMod1875
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Re: Another chunk of BSH sold off

El Mayor replying to Le Mod
14:28, Thursday 14 June 2018
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Le Mod
It's quite amazing how we've come to be part owned by companies featuring the words Trillion Trophy and Villa in their names.

What next? 'Amazing Fulham 1975 Last Minute Enterprises'?

"Bert Trautmann's Broken Neck Inc"
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Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

number8 replying to El Mayor
14:29, Thursday 14 June 2018
If you put money in and turn it to shares, isn't that exactly what FFP tries to stop?

[www.efl.com]

£8m limit in 2015/16
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Thongs
Number8 is the worlds best forum poster. FACT. End of chat.
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Re: Another chunk of BSH sold off

El Mayor replying to number8
14:30, Thursday 14 June 2018
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number8
If you put money in and turn it to shares, isn't that exactly what FFP tries to stop?

[www.efl.com]

£8m limit in 2015/16

Deffo the case with the club - but this is the holding company. Is it the same thing?
[www.protipster.com] [www.almajir.net]

Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

CheswickBlue replying to El Mayor
14:31, Thursday 14 June 2018
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El Mayor
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number8
If you put money in and turn it to shares, isn't that exactly what FFP tries to stop?

[www.efl.com]

£8m limit in 2015/16

Deffo the case with the club - but this is the holding company. Is it the same thing?

Dunno, you tell us
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Re: Another chunk of BSH sold off

DES replying to CheswickBlue
14:33, Thursday 14 June 2018
All this stuff is so confusing! Only Dan has vaguest idea what it means!
Kro
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Re: Another chunk of BSH sold off

number8 replying to El Mayor
14:33, Thursday 14 June 2018
Well, in reality I'd say yes...I'd have thought the regs would go that way too, otherwise its a massive loophole for anyone to drive through.

5.1.2 Contributions from Equity Participants and / or Related Party(ies) (as defined in Appendix F).

Can't find appendix F on the site...
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Thongs
Number8 is the worlds best forum poster. FACT. End of chat.
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Re: Another chunk of BSH sold off

El Mayor replying to number8
14:34, Thursday 14 June 2018
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number8
Well, in reality I'd say yes...I'd have thought the regs would go that way too, otherwise its a massive loophole for anyone to drive through.

I'd agree, in reality it is. However, I bet this is grey area and the owners will try and do as much as they can and hope the EFL bottle it.
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Ren Xuandong doesn't work for TTA, and TTA aren't the people putting money into BCFC...
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Re: Another chunk of BSH sold off

Le Mod replying to El Mayor
14:39, Thursday 14 June 2018
Is this what Villa are trying to do?
@LeMod1875
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