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Announcement tomorrow 7AM?

Fitzhugh Fella

By Fitzhugh Fella
in The Saints

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um pahars

um pahars

Posted
Posted
Unless I am missing the point the LSE stated that we are actively looking for a buyer to refinance club before it can print it accounts!! are we not buying time a la Coventry before administration to try and find a buyer?

 

But if we can't "print" the accounts, because we have no support from Barclay's and no alternative source of funding, then effectively we are not a "going concern" and we do not have the cash to trade (pay creditor, wages etc) and therefore we will go into administration at some point in the not too distant future.

 

This is not administration, yet, but it will be if we can't get new money in, or get Barclay's to change it's mind.

Fan The Flames

Fan The Flames

Posted
Posted

Temporarily suspended on AIM. Radio 5 Live believes this is because there are trying to sort something out and will report back later today. Does this mean something BIG is happening today.

 

Radio 5 segwayed from Newcastle to Southampton with Kevin Keegan, will we ever buy the European footballer of the year again. Good Old LM.

offix

offix

Posted
Posted

But being overly, overly, overly optimistic it doesn't mean we have gone into Administration (yet) and there is always the hope that we could find some other funding in the short term or have one last chance at sweet talking Barclays!!!!!!!!!!!!!!!!!

 

Let me see: a chance to invest in a business with an inferior product, no clients to speak of, and a mountain of debt.

 

Should be easy enough to find someone.

Andy Durman

Andy Durman

Posted
Posted

Southampton Football Club's listed parent company was teetering on the brink of administration last night after the club failed to agree an extension of its overdraft with Barclays Bank. Shares in the AIM-listed Southampton Leisure Holdings will be suspended this morning and Begbies Traynor, the accountancy firm, is standing by to step in as administrator of the troubled club, which has struggled since it was relegated from the Premier League in 2005, writes the Times.

thorpie the sinner

thorpie the sinner

Posted
Posted
But if we can't "print" the accounts, because we have no support from Barclay's and no alternative source of funding, then effectively we are not a "going concern" and we do not have the cash to trade (pay creditor, wages etc) and therefore we will go into administration at some point in the not too distant future.

 

This is not administration, yet, but it will be if we can't get new money in, or get Barclay's to change it's mind.

 

Thats what I meant steve, we are buying time looking for finance!! any idea how long we get before we have to announce admin? Can't be long!

Griff

Griff

Posted
Posted
Here it is

Bad news on the doorstep

NOTICE

 

 

(229)

 

 

 

01/04/2009 7:00am

 

 

TEMPORARY SUSPENSION OF TRADING ON AIM

 

 

SOUTHAMPTON LEISURE HOLDINGS PLC

 

 

Trading on AIM for the under-mentioned securities has been temporarily suspended from 01/04/2009 7:00am pending publication of the company's half-yearly report.

 

It has been announced folks - bad, badday

Nexstar

Nexstar

Posted
Posted (edited)
It's now 7.15am and I haven't heard anything yet ???????

 

It's on Sky News saying the company that owns SFC has suspended shares.

Edited by Nexstar
um pahars

um pahars

Posted
Posted
Thats what I meant steve, we are buying time looking for finance!! any idea how long we get before we have to announce admin? Can't be long!

 

That's an answer I don't have!!!!!!!!!!!!!

 

Can only imagine it will be when the cheques start bouncing or Barclay's calls in it's overdraft!!!!!!!!

 

My hunch would be that I don't think it will be long though and think they will either have to secure new funding (or get Barclay's on side) within days rather than weeks.

 

The key deadline to get this sorted was 31/3/09 and maybe it's just taking longer than was anticipated (that's me trying to be optimistic!!!) and funding will be sorted out!!!!!

alehouseboys

alehouseboys

Posted
Posted
Maybe getting rid of the radio station will be our downfall! Rupes was right all along :o

 

Ironic that that's where this news broke first a couple of days ago...and nobody believed ol' Pyscho...

EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
Thats what I meant steve, we are buying time looking for finance!! any idea how long we get before we have to announce admin? Can't be long!

 

The fat lady is gargling as our Mods prepare for meltdown here on the forum

 

Atleast we don't lose 10 points.

 

Don't. count. your. chickens.

Minsk

Minsk

Posted
Posted

I don't understand why they need more funds coming in now in order to publish the financial situation of the 6 months from July-December 2008.

thorpie the sinner

thorpie the sinner

Posted
Posted
That's an answer I don't have!!!!!!!!!!!!!

 

Can only imagine it will be when the cheques start bouncing or Barclay's calls in it's overdraft!!!!!!!!

 

My hunch would be that I don't think it will be long though and think they will either have to secure new funding (or get Barclay's on side) within days rather than weeks.

 

The key deadline to get this sorted was 31/3/09 and maybe it's just taking longer than was anticipated (that's me trying to be optimistic!!!) and funding will be sorted out!!!!!

 

I am keeping the faith, blindly!!! Didn't Gavyn Davis once say he would never let us go under some time ago.........wishful thinking probably?????

Saints foreva

Saints foreva

Posted
Posted
Just goes to show how far we've fallen as this story doesn't warrant a mention on national news stations this morning (including SSN?)

 

Well with the Newcastle news.. We are never going to get the mention that we deserve tbh.

JustMike

JustMike

Posted
Posted
Just goes to show how far we've fallen as this story doesn't warrant a mention on national news stations this morning (including SSN?)

 

could be because they dont see it as a football story yet?

Minsk

Minsk

Posted
Posted
Just goes to show how far we've fallen as this story doesn't warrant a mention on national news stations this morning (including SSN?)

 

As was said above, it has been mentioned on Sky News - not much was said though.

 

It hasn't made the national Belorusian news yet though, and neither is there anything on the OS about it at present (surprise, surprise).

alehouseboys

alehouseboys

Posted
Posted
could be because they dont see it as a football story yet?

 

...maybe not exactly a 'football story' just yet but I would have expected an official club announcement on the OS at 7am sharp this morning - they knew it was coming and owe it to the fans.

 

Then again...

Alain Perrin

Alain Perrin

Posted
Posted
a few others said the same nickh etc.

 

I think even the most anti-Crouch person must now conceed Lowe and Wilde have done far worse then what Crouch would of done had he remained. I just can't help but think if we started this season with the set-up on the final day of last season we would not be in this situation at all. We would be higher up the league with more people in the stadium thus generating more money then we are now.

 

Total conjecture. SFC was/is like a plane in a steep dive, no matter who was the pilot I think we'd have gone into admin - it was just a a question of when.

 

Could Pearson have got the youth players to perform when he struggled to get our 'overpaid' stars to do the same last season? Who knows (by the way, the answer to this is no one).

 

Personally I think those that try to put a halo on Crouch's head are naive and exercise double standards. For example, if Lowe had been as evasive about the Walcott transfer renegotiation as Crouch was, then you'd be sharpening your pitchfork and marching on the Cotswolds.

um pahars

um pahars

Posted
Posted
...maybe not exactly a 'football story' just yet but I would have expected an official club announcement on the OS at 7am sharp this morning - they knew it was coming and owe it to the fans.

 

Then again...

 

I'm hoping for more than just another copy of the Stock Exchange Annuncement and something more atuned to the supporters, as opposed to shareholders, spelling out exactly what this means and what the next steps are.

 

Nothing containing any sensitive information, but just something more open than the bland SE announcement.

saint lard

saint lard

Posted
Posted

The only straw i am clutching is that something good will come of all this and we will look back and say, April 2009, that was when the dark days came to an end and SFC moved forward into a brighter era,Without Lowe,Wilde and thier cronies.

 

If anyone with real interest in investing/purchasing Saints must step up too the mark now.

fletch

fletch

Posted
Posted
SSN states club are in negotiation with several parties. Clutching at straws?

 

What mad man would buy a club in this current financial climate! So yes, clutching at straws.

 

All I see is administration and a -10 point start to next season in the first division, oh how we have fallen :(

fanimal

fanimal

Posted
Posted

Just what the players needed before the game we absolutely must win on Saturday.

 

4 games in 10 days, in fact this time next week we should be all out of our misery....

Minsk

Minsk

Posted
Posted
SSN states club are in negotiation with several parties. Clutching at straws?

 

The 'several parties' could well be just those we owe money to.

 

One can live in hope (if they so wish) that one of those parties might be someone willing to put money in though.

EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
Care to comment further, Rory?

 

So sad to see you being proved right FF.

 

At least the Doubting Thomas/sycophants can now bluster around looking for what exactly Mr Crouch did to bring all this on our heads. Because, believe me, by the time RL finishes spinning it, it will be all Leon's fault, oh! and us fans!

icehagman

icehagman

Posted
Posted
I don't understand why they need more funds coming in now in order to publish the financial situation of the 6 months from July-December 2008.

 

Maybe the funds is required to buy new calculators to the office. Until then we can´t figure out our financial situation...

EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
Imagine if Lowe got one of his mates to buy us and install him as chairman for life. I would lol.

 

Imagine if Lowe got one of his mates to buy us and install him as chairman for life. I would follow Eastleigh.

saint lard

saint lard

Posted
Posted

This attempt to "play the system" by lowe,placing the onus on the parent company,could really backfire if the Football League see fit to clamp down on clubs trying to find loopholes in the law.

SaintPatrick

SaintPatrick

Posted
Posted
Just goes to show how far we've fallen as this story doesn't warrant a mention on national news stations this morning (including SSN?)

It was first item on Radio 4 business news at 0720h....

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