BFC cash injection

Well only Chien and Conway can fully prevent it. As Chien and Conway get pushed out, Neerav will eventually have over 50% even if all the others take up their position. However he will never be the sole board member, as the Crynes are guaranteed a spot on the board because their shares are a different class.

 

I think these are the shares that the gruesome twosome declined to purchase as their percentage of the last rights issue. Someone (Archerfield?) said they had a fixed period of time to take up their shares (which has long since passed), otherwise they would become available to the other shareholders.

 

So what is the current breakdown in shares owners in terms of percentages?

 

Prior to the latest issue, it was as follows:

Neerav Parekh 47.97%
Cryne family 26.51%
Julie Anne Quay and Matt Edmonds 9.2%
Chien Lee 11.45%
Pacific Media Group 4.87%

 

I didnt think Parekh was in possession of that %.
More in line with these figures.
Note the date. ?

As a result, the new ownership of the club is now understood to be split between Neerav Parekh (35.25%), Chien Lee (31.25%), Julie Anne Quay and Matt Edmonds (6%), the Cryne family (20%) and Conway's company Pacific Media Group (7.5%).12 Sept 2023.
Could be picked up as old hat news I suppose.

Are those that you show. After the last issue and not b4. ?

 

By the latest issue I mean the one that was published today. The numbers came from Archerfield after the share issue prior to the one just announced. When the new shares are published in the Hong Kong directory I'm sure we'll get updated numbers.

 

Total cash in from the owners since the changes in the board room, £10.2m.

£3m relates to the cash owed to the Crynes for the purchase of the club but the net £7.2m represents new money in to the club.

Assuming that the new equity has been split by shareholding across Neerav (not Khaled), JAQ and the Crynes, Neerav would now hold 49.8% of the club, JAQ 9.6% Crynes 27.5% Lee 9.2% and PMG 3.9%.

Worth noting that at the time of the purchase the total number of shares was 10m, the rights issues have swelled this to 30m allowing the substantial change in ownership.

This is all based on there being an equal split by shareholding between the three active directors and Lee and PMG not participating. These numbers can be confirmed when the HK filing is available.

On the debts front the last accounts showed Covid loans of £2.8m being repaid at roughly £600k pa and the debt to the Crynes of £3m in respect of the deferred purchase amounts.

 

What's our wages per-month work our at mate? We have a massive squad for an L1 club. No doubt we'll see a thinning of the Herd next summer if promotion isn't achieved. But sales of Cole and Styles in Jan may soften that blow.
But if we keep em till June, then more chance of promotion and the promised land of the Champ.. and the 8 million. But Devante walks in the summer for free if we fail
Some big decisions.. and maybe gamble's coming up..

 

Is the "Big News" still a thing?

 

Wow Staggering to think that Lee’s ownership might have shrunk to less than 10 %

 

Anything upwards of £1.5m for Cole and I think he will be sold. Be nice if we can get more mind you

 

Last accounts showed an annual wage bill of £13m or £1.1m a month. This was for the year ending 2022 so represents Championship. Rough guess would be this is closer to £10m possibly lower and around £800k a month.

 

Which still seems too high for a league one club

 

What’s that based on?
Historically these owners don’t sell key players in Jan.
In fact if anything it’s been the opposite where they have been willing to allow contracts to run down in the gamble to go up.

 

Fair comment

just a hunch. Would seem a big gamble to me. I don’t think we will be bothering the automatic spots come January. Perhaps if we are it becomes a different conundrum

 

Only 2 points off automatic with key players to return I would expect a minimum of top 6 with top 2 being a possibilty right up to the final weeks of the season.

 

In the spirit of being a friendly neighbour can`t we redirect the funds to S6? (just asking)

 

errrrrm, well..... No!

 

Will this kill the myth that the "new board" haven't put any of their own money in.?
Where would we be if they hadn't put their own money in?

 

Based on what? We've been pretty inconsistent so far, yet we're still well in the mix for the automatic spots. I think we're far more likely to get better than worse between now and January.