EBS1980 Posted 15 May, 2009 Posted 15 May, 2009 Just received this for the Stock Exchange: 15 May 2009 Southampton Leisure Holdings plc ("SLH" or "the Company") Termination of talks Following the suspension of the Company's ordinary shares on AIM and the appointment of joint administrators, the Company confirms it is not engaged in any talks with a third party regarding a potential offer for the shares of Southampton Leisure Holdings plc. Accordingly, the Company is no longer in an offer period pursuant to the City Code on Takeovers and Mergers. However discussions are still ongoing regarding a possible sale of the assets of the Company, including Southampton Football Club. For further information: Seymour Pierce Richard Feigen Tel: 020 7107 8000
ladysaint Posted 15 May, 2009 Posted 15 May, 2009 What does that actually mean then, it doesnt read good and looks as though we have come to no agreement with anyone and they are just going to sell off any assets we have.
kpturner Posted 15 May, 2009 Posted 15 May, 2009 Not sure if that means anything or not really.....is there an expert in the house?
Saint Keith Posted 15 May, 2009 Posted 15 May, 2009 i "think" thats a red herring, as any potential buyer will be buying the football club and not the plc, therefore dont have to make an offer for shares, only the assets
jayrivers Posted 15 May, 2009 Posted 15 May, 2009 don't really post on here, but always read, but... does it not just mean that you can no longer buy shares in the club at all and all the offers are the the entire company?
alpine_saint Posted 15 May, 2009 Posted 15 May, 2009 (edited) Looks like we have reached the end of the line :-( EDIT - I've changed my mind. All it actually means the end of the line as a PLC, which is actually good news. Edited 15 May, 2009 by alpine_saint
Frank's cousin Posted 15 May, 2009 Posted 15 May, 2009 does not look good -liquidation....of SLH - may still mean SFC sold as going concern - basically it would confirm that no one talking to FRy is in discussions about taking over SLH in its entirity which we kind of suspected anyway. S maybe this is simply confirmed now as the bids received are not for SLH in its entirity?
saintjay77 Posted 15 May, 2009 Posted 15 May, 2009 Surly that would have been the case as soon as SLH went into admin? I mean from that point on there are no shares to be bought, just creditors to be paid off, so Seymour Butts is a bit late of the starting block me thinks. No wonder they didnt help us get investment if they are that slow to react!
landford.saint Posted 15 May, 2009 Posted 15 May, 2009 Could be good news... SLH shares we all know are worthless and defunct. The administrator is in talk to sell the assets of the Company ie SFC, St Marys, etc. This could be a prelude to an announcement that the assets are to be offered to a prefered bidder.
alpine_saint Posted 15 May, 2009 Posted 15 May, 2009 It either means that no-one is buying SLH but an announcment of the sale of the two main assets (SFC and SMS) is about to be announced, or it means we are screwed. Nail-biting time..
Saint_Ash Posted 15 May, 2009 Posted 15 May, 2009 don't really post on here, but always read, but... does it not just mean that you can no longer buy shares in the club at all and all the offers are the the entire company? I'd go with this, SFC is an asset of the plc and can still be bought. I don't think we need to worry.
St.Patrik Posted 15 May, 2009 Posted 15 May, 2009 Could mean that the new owners will remowe the PLC from the stockmarket and own the club 100% by themselves ? In that case the will take the profit and nobody can do anything about it.
Elmore Posted 15 May, 2009 Posted 15 May, 2009 I think its positive statement. Just clarifying that no-one wants to buy the Holding Company, but talks are still ongoing with 3rd parties regarding SFC. However discussions are still ongoing regarding a possible sale of the assets of the Company, including Southampton Football Club.
Rocker268 Posted 15 May, 2009 Posted 15 May, 2009 I thought that when we went into admin that shares became worthless, so it could be that talks are just over the club and SLH will desolve entirely? I have no real knowledge of business so this is probably completely wrong
aintforever Posted 15 May, 2009 Posted 15 May, 2009 I don't know wether to worry or not, which is worrying.
StWales Posted 15 May, 2009 Posted 15 May, 2009 This is the first time I have posted on here, but what this means is that the third party is not interested in purchasing the Holding Company, "Southampton Leisure Holdings". This makes sense as why would they want to be bound by all the red tape of the AIM market, when they probably have a special purchase vehicle set up, clean and ready to go moving forward. The anouncement is not bad news.
Give it to Ron Posted 15 May, 2009 Posted 15 May, 2009 Could mean that the new owners will remowe the PLC from the stockmarket and own the club 100% by themselves ? In that case the will take the profit and nobody can do anything about it. Profit would be good..... My heart hit my boots....its just coming back up and trying to digest what that means.
thorpie the sinner Posted 15 May, 2009 Posted 15 May, 2009 in Saints fc terms Alp, immiment is within a 2 year time span!!!!!!
stevegrant Posted 15 May, 2009 Posted 15 May, 2009 This is the first time I have posted on here, but what this means is that the third party is not interested in purchasing the Holding Company, "Southampton Leisure Holdings". This makes sense as why would they want to be bound by all the red tape of the AIM market, when they probably have a special purchase vehicle set up, clean and ready to go moving forward. The anouncement is not bad news. That was my first impression as well, but it's easy to see why it might cause panic/confusion! I certainly had doubts...
Weston Saint Posted 15 May, 2009 Posted 15 May, 2009 I do not see this as a problem. All it means is that no one is prepared to purchase the shares of Southampton Leisure Holdings plc. In my opinion it does not change the status of the talks in place at present. It simply send the final message to the shareholders that they will not get a return on their investment.
Armitage Shanks Posted 15 May, 2009 Posted 15 May, 2009 Could be good news... SLH shares we all know are worthless and defunct. The administrator is in talk to sell the assets of the Company ie SFC, St Marys, etc. This could be a prelude to an announcement that the assets are to be offered to a prefered bidder. Landford - I think that's exactly what it means. They couldn't get a buyer for the shares and they are not part of any deal. This probably means that a deal for the other assets has been agreed and we will hear something very shortly.
SOTONS EAST SIDE Posted 15 May, 2009 Posted 15 May, 2009 Didnt think anyone would buy SLH anyway, just the assets (SFC,Stadium,JF ect!).These are the only bits that will recoup any money!
Guided Missile Posted 15 May, 2009 Posted 15 May, 2009 I think its positive statement. Just clarifying that no-one wants to buy the Holding Company, but talks are still ongoing with 3rd parties regarding SFC.A minor point.....Southampton Football Club happen to play at St. Marys (Owned by SLH), FFS. You're assuming that the bidder buying St. Marys Stadium is not Toys "R" Us looking to relocate....
Verbal Posted 15 May, 2009 Posted 15 May, 2009 It's just a heads-up to AIM that the PLC is history and the shares are worthless. Any prospective bidders are arguing over the football club alone. I'd call that good news, as far as it goes...
northam soul Posted 15 May, 2009 Posted 15 May, 2009 This is the first time I have posted on here, but what this means is that the third party is not interested in purchasing the Holding Company, "Southampton Leisure Holdings". This makes sense as why would they want to be bound by all the red tape of the AIM market, when they probably have a special purchase vehicle set up, clean and ready to go moving forward. The anouncement is not bad news. Thank you Mr new owner, could you now hurry up and put us all out of our misery.
Jimmy_D Posted 15 May, 2009 Posted 15 May, 2009 If the PLC dies and the football club survives, doesn't that prove that they weren't *the same thing* and we shouldn't have been given the 10 point penalty?
Paul Chuckle Posted 15 May, 2009 Posted 15 May, 2009 This is good news IMO. I work in a financ of businesses etc and I see this as Southampton LH hasn't found a buyer. All shares etc will now just go and SLH will be wound up. Club will be removed from Stock Market and someone has brought Southampton FC outright. I would expect an announcement ASAP.
Alanh Posted 15 May, 2009 Posted 15 May, 2009 Presumably it means that there have been talks about the possiblity of someone buying SLH - i.e. paying a price per share to the shareholders. These talks have now been terminated and I guess that means that the most likely scenario now is for the assets to be sold off, raising the prospect of different owners owning different assets (not a great scenario), to pay off as much of the debt as possible. Not really a significant change to the situation and we are still no clearer on whether we will have a club to support in August.
iansums Posted 15 May, 2009 Posted 15 May, 2009 OK....I am chilling out again now - a bit. Too late for me, I've already S**t myself !!:mad:
landford.saint Posted 15 May, 2009 Posted 15 May, 2009 i'm tempted to call that number............... samaritans ????
SOTONS EAST SIDE Posted 15 May, 2009 Posted 15 May, 2009 Well thats the wasted £250,000 that AIM costs us, back into club coffers!
Golden Balls Posted 15 May, 2009 Posted 15 May, 2009 It either means that no-one is buying SLH but an announcment of the sale of the two main assets (SFC and SMS) is about to be announced, or it means we are screwed. Nail-biting time.. Exactly what I thought when reading "discussions are still ongoing regarding a possible sale of the assets of the Company, including Southampton Football Club" The PLC looks to be screwed so has to sell its assets...the football club being the main one!!!
TNT Posted 15 May, 2009 Posted 15 May, 2009 Could mean that the new owners will remowe the PLC from the stockmarket and own the club 100% by themselves ? In that case the will take the profit and nobody can do anything about it. profit ?? LOL Nobody could do anything when it was a PLC either !
Pancake Posted 15 May, 2009 Posted 15 May, 2009 This is good news IMO. I work in a financ of businesses etc and I see this as Southampton LH hasn't found a buyer. All shares etc will now just go and SLH will be wound up. Club will be removed from Stock Market and someone has brought Southampton FC outright. I would expect an announcement ASAP. That is how I read it too, with the extra bit being that SMS is going to someone else... Council?
saintjay77 Posted 15 May, 2009 Posted 15 May, 2009 If the PLC dies and the football club survives, doesn't that prove that they weren't *the same thing* and we shouldn't have been given the 10 point penalty? My question a while back was if the football club cant pay the wages then could they go into admin seeing as they are not at the moment? If so who gets the -10 point penalty and when? Cant be punished 2ice for the same thing and as the FL decided to punish us for it already we could concievably go into admin with no punishment????
saintray Posted 15 May, 2009 Posted 15 May, 2009 Jesus, i read that and i could literally feel something running down my leg!!! I wish Mr. Fry would come and make a statement about this and put us out our misery!!! i think my f5 is finally running out
John B Posted 15 May, 2009 Posted 15 May, 2009 Looks like we have reached the end of the line :-( EDIT - I've changed my mind. All it actually means the end of the line as a PLC, which is actually good news. Yes I agree Alpine no body was going to buy SLH
jonah Posted 15 May, 2009 Posted 15 May, 2009 It just means that we're not officially in talks with anyone to sell SLH as a whole, ie. by selling the shares. We already knew that really, and the last part confirms the administrators are still looking at selling off the assets, ie. the stadium and football club. On the downside it's pretty much confirmation the shares are worthless as nobody is bidding for the whole of SLH (though going into administration doesn't automaticaly imply the shares become worthless), which also means there is the risk that there is a non-football bid on the cards for one or more of the assets, eg. the stadium. On the plus side this could be a sign that they are getting things sorted in terms of offers. But that's grasping at straws a little I think.
shurlock Posted 15 May, 2009 Posted 15 May, 2009 good news- a bit of spring-cleaning, airing out the rooms before the new occupants move in.
slickmick Posted 15 May, 2009 Posted 15 May, 2009 If the PLC dies and the football club survives, doesn't that prove that they weren't *the same thing* and we shouldn't have been given the 10 point penalty? About to post the same thing.
alpine_saint Posted 15 May, 2009 Posted 15 May, 2009 So, here we are, the end of the PLC era, the day many of us were dreaming of. Anyone feel different ? I suppose its just worry about the ultimate fate of the club and stadium that makes me not want to break out the champers...
wireframebox Posted 15 May, 2009 Posted 15 May, 2009 It just means that we're not officially in talks with anyone to sell SLH as a whole, ie. by selling the shares. We already knew that really, and the last part confirms the administrators are still looking at selling off the assets, ie. the stadium and football club. On the downside it's pretty much confirmation the shares are worthless as nobody is bidding for the whole of SLH (though going into administration doesn't automaticaly imply the shares become worthless), which also means there is the risk that there is a non-football bid on the cards for one or more of the assets, eg. the stadium. On the plus side this could be a sign that they are getting things sorted in terms of offers. But that's grasping at straws a little I think. Why would someone buy an asset like a stadium and kill of the only major sporting team in the area that might use the stadium in the same move?
Recommended Posts