13:48, Thu 14 Jun
[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%.
13:50, Thu 14 Jun
Making financial moves to improve the situation then but by gaining more control?
13:50, Thu 14 Jun
So this is a swap for the money that was invested in us last season?
13:51, Thu 14 Jun
Blue H
So this is a swap for the money that was invested in us last season?

Correct.
13:54, Thu 14 Jun
Is this essentially the takeover from within?

When would King be subject to a Fit and Proper Persons test? Could be problematic.
@LeMod1875
13:56, Thu 14 Jun
See, they should have renamed the stadium the 'Dragon Villa' stadium.
Rags on the new Forum:
"Who on earth still has signatures showing ? ... they're the same every single time ... you've read 'em once then just hide them forever"
13:57, Thu 14 Jun
Chang Drag to Shit and I'm in
Sergio Lives
13:57, Thu 14 Jun
See, they should have renamed the stadium the 'Dragon Villa Blues' stadium.

Or DVB for short 8-)
13:59, Thu 14 Jun
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.
14:03, Thu 14 Jun
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
14:07, Thu 14 Jun
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 effing hopeless though IMO
14:08, Thu 14 Jun
Who owns the rest of the shares?
14:12, Thu 14 Jun
El Mayor
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?
14:12, Thu 14 Jun
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%
14:13, Thu 14 Jun
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
14:13, Thu 14 Jun
zxcv
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?
14:14, Thu 14 Jun
Spike
El Mayor
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...
14:18, Thu 14 Jun
El Mayor
Spike
El Mayor
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?
Goodbye says it all.
14:18, Thu 14 Jun
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.
14:23, Thu 14 Jun
Blues. Owned. By. Dragon. VILLA!