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Pompey Takeover Saga


Fitzhugh Fella

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Wave 105 ‏@wave105radio

NEWS: While in #portsmouth the #DuchessofCambridge was given a #pompey shirt & a sailing t-shirt for Prince George.

 

B9pwyezIcAAkkfM.jpg:large

 

Captions gratefully received...

 

George. Now be a good boy or I will make you wear this Pompey shirt.

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Wave 105 ‏@wave105radio

NEWS: While in #portsmouth the #DuchessofCambridge was given a #pompey shirt & a sailing t-shirt for Prince George.

 

B9pwyezIcAAkkfM.jpg:large

 

Captions gratefully received...

 

"Whilst we are of course most grateful to you for your thoughtfulness, we should point out that 'George' is not usually spelled with only one G and an unnecessary I"

Edited by Waterside.saint
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“I love playing at Portsmouth, although last season, I didn’t get off the bench, so I was really gutted. But the atmosphere was incredible that day.

“It’s a privilege to even be there, let alone play in the game. All the lads always look forward to it, so it should be good.”

:mcinnes:

 

Read more: http://www.westernmorningnews.co.uk/Portsmouth-trip-whets-appetite-Exeter-City-s/story-26017788-detail/story.html?#ixzz3Rc6Bb3Th

 

 

 

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“I love playing at Portsmouth, although last season, I didn’t get off the bench, so I was really gutted. But the atmosphere was incredible that day.

“It’s a privilege to even be there, let alone play in the game. All the lads always look forward to it, so it should be good.”

:mcinnes:

 

Read more: http://www.westernmorningnews.co.uk/Portsmouth-trip-whets-appetite-Exeter-City-s/story-26017788-detail/story.html?#ixzz3Rc6Bb3Th

 

 

Wheeler added: “Every season they start as the favourites because of their following and their cash-flow

 

There's only one way Pompey's cash flows...

 

6a00d8341d417153ef0168ec0ef6cd970c-800wi.png

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“I love playing at Portsmouth, although last season, I didn’t get off the bench, so I was really gutted. But the atmosphere was incredible that day.

“It’s a privilege to even be there, let alone play in the game. All the lads always look forward to it, so it should be good.”

:mcinnes:

 

Read more: http://www.westernmorningnews.co.uk/Portsmouth-trip-whets-appetite-Exeter-City-s/story-26017788-detail/story.html?#ixzz3Rc6Bb3Th

 

Wheeler added: “Every season they start as the favourites because of their following and their cash-flow

 

 

and then went on to say

"... although I don’t really know what it [financial] situation is. But they always start the season as favourites and they haven’t really produced so far.

 

We have beaten many of the top teams in the league, so there is no reason why we can’t go there and win this game as well.”

In other words, their financial transparency is as opaque to other people in the game as it is to us :lol:

Edited by Waterside.saint
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Friday 13th, shouldn't something be happening today ?

 

6:30pm for the big reveal...

 

https://www.eventbrite.co.uk/e/pst-special-general-meeting-tickets-15579962086

 

NOTICE IS GIVEN that a Special General Meeting (SGM) of the Society will be held at The Alliance Lounge, Fratton Park, Frogmore Road, Portsmouth PO4 8RA on Friday 13th February 2015.

 

Doors at 6.00pm for 6.30pm start for the following purposes:

 

Ordinary Business

Apologies

Treasurer’s Report (Steve Tovey)

To receive and approve PST Audited Accounts 2013/14 [31st March 2013 to 30th June 2014]

Appointment of Auditors:To elect Taylor Cocks of 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, PO6 3TH as auditors for the ensuing year and authorise the Society Board to fix their remuneration.

 

Proposed: Steve Tovey (Treasurer)

Seconded: Mark Trapani

 

There will be no other business and the meeting will finish at 7.15pm

 

Date: 29th January 2015

 

By Order of the Board

 

Dr Mark Farwell

Secretary

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Wave 105 ‏@wave105radio

NEWS: While in #portsmouth the #DuchessofCambridge was given a #pompey shirt & a sailing t-shirt for Prince George.

 

B9pwyezIcAAkkfM.jpg:large

 

Captions gratefully received...

 

'whilst we appreciate the thought, hes actually just grown out of nappies'

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It might show a modest profit if there telling Peter stores, or sum uver c**t as fawked out for the Bar Tab,

 

Is this the accounts for the Trust, not the Club, so I can't see how it is not profitable unless it is proper champers McInnes drinks and not Tesco Spumante.

 

Apparently one of the conditions for their new Supermost Tesco/Morrisons/LIDL/ALDI being approved is that it shall be well stocked with bubbly :mcinnes:

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If there are any "shockers" they'll be about the structure of the relationship between the Trust and the Club. It won't be about the Trust finances, they don't actually do anything, do they?

 

The devil (if there is one) will be lurking in the auditor's notes, and unless we get our hands on a copy we won't know what is stated in the notes. Although if the auditors have qualified their report somebody might pick that up, it would be front page, rather than buried in the notes at the back.

Edited by hutch
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In which case, I wonder why they are so late in being presented if there's nothing complex about them?

 

I may be wrong but I'm pretty sure the delay in producing the trust's accounts is due to a delay in the club publishing theirs - not sure why they would need to be so intricately linked but I'm sure it was posted on here as the reason for the delay....

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In which case, I wonder why they are so late in being presented if there's nothing complex about them?

 

Because they're a bunch of amateurs. That's the point, they're incompetent and proud. What single useful thing have the Trust actually done apart from designing that nice fence?

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Lord T is quite dedicated, he'll be back from the meeting soon....

 

Have they kidnapped him,are they Holding him to ransom.where is lord. T with the answers. It seems a bit quiet, I would have thought if there was good news they would shouting it from the roof tops.

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Lord T is quite dedicated, he'll be back from the meeting soon....

 

Have they kidnapped him,are they Holding him to ransom.where is lord. T with the answers. It seems a bit quiet, I would have thought if there was good news they would shouting it from the roof tops.

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From pol don't know how to do the quote thingy !!

 

Well it was all very ordinary in the end. No fuss, no drama, no discrepancies.*

 

The delay in preparing them in the end turned out to be due to the different deadlines between club and trust and a misunderstanding on whether the trust accounts could be finalised before the club's.*

 

The trust as at 30 June 2014 was in a healthy state, with approx £2.5m in shares in the club and a further £32k approx due to be purchased, which was completed in the following (current) period. It had a healthy surplus in the year due to the share donations and also income from other events. It has a decent cash balance as well.*

 

If any of you see the accounts you will note the the trust owes £13k to creditors. This is nothing to be concerned about as it is the accumulated value of the £100 deposits that were not converted into full share donations. Since the period end these are being either refunded or combined into full shares according to the wishes of the individuals.*

 

To answer LT I don't honestly remember the £2900, don't have the accounts in front of me now. Didn't ask as it's well below a materiality threshold for me in the context of the whole accounts.*

 

However what I was pleased to see was a full detailed income and expenditure statement well above the minimum required by law.*

 

So all in all the only error was that there wasn't in the event any need for the delay. But I guess it's a learning curve that won't be repeated.*

 

Good to meet Mick, Sue and other exec members.

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Oops more fall out from POL

 

Banker said:*↑

 

Come on LT, spill the beans

 

Well its not who the Trust owes money to but rather who owes money to the Trust. In this instant, £2990.*

 

Now a Trust can make loans if in accordance with its FSA regulations but no such agreement or approval exists. Rather circ £3k has been gifted to an individual. That they have 'agreed' to pay this sum back is purely on a moral basis rather than a legal one.

 

Hence recording the £3k as a debt owed is somewhat dubious.

 

?

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The Trust held a shareholding of 48.6 per cent of the club as of June 30.

 

That was before a property developer chipped in another £50K to cover the fact that the training ground fundraiser had failed.

Did he do that out of love, or for another little chunk of control?

 

Fan owned? :lol:

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