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Post by monkeysocks on Mar 25, 2017 21:25:37 GMT 1
WTF  On the official site , formal wording and given our track record, looks ominous. Anybody with knowledge out there? |
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Post by andylivi1 on Mar 25, 2017 22:19:58 GMT 1
I'm told that it is good news rather than bad news for a change, but will just have to wait and see.
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Post by bawbag on Mar 26, 2017 7:56:58 GMT 1
I'm told that it is good news rather than bad news for a change, but will just have to wait and see. Aw man ...hate it when am kept in suspenders  |
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Post by monkeysocks on Mar 26, 2017 8:03:30 GMT 1
I'm told that it is good news rather than bad news for a change, but will just have to wait and see. Admire your optimism but when "emergency" is used instead of say "extraordinary " I fear the worst. |
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Post by andylivi1 on Mar 26, 2017 9:17:15 GMT 1
It's not optimism, I'll wait and see what comes of it but it's what I've been told by someone close to the club that it is good news rather than bad.
I don't blame you or anyone else for fearing the worst, I did as well when I first saw the update on the website.
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Post by Auldnick on Mar 26, 2017 9:23:00 GMT 1
Can't see why "good news" would require an "emergency" meeting unless the OCS has wrongly ascribed the word emergency instead of extraordinary.
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Post by italion on Mar 26, 2017 9:40:52 GMT 1
Can't see why "good news" would require an "emergency" meeting unless the OCS has wrongly ascribed the word emergency instead of extraordinary. I am sure under the Company's Act there are only two types of meeting. The Annual General Meeting which is held once every year and if you need another meeting during that period it is an Extraordinary General Meeting. Never heard of an Emergency Meeting. 17th April is earliest "working day" that it can be held given the notice period of 21 days. |
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Post by misdemeanor on Mar 26, 2017 11:28:34 GMT 1
Can't see why "good news" would require an "emergency" meeting unless the OCS has wrongly ascribed the word emergency instead of extraordinary. I am sure under the Company's Act there are only two types of meeting. The Annual General Meeting which is held once every year and if you need another meeting during that period it is an Extraordinary General Meeting. Never heard of an Emergency Meeting. 17th April is earliest "working day" that it can be held given the notice period of 21 days. Administration number 4 I am afraid... |
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Post by colcal on Mar 26, 2017 12:57:03 GMT 1
I love that everyone fancies themselves as lawyers all of a sudden, whenever any message like this emerges. My understanding is that the words 'extraordinary' and 'emergency' are interchangeable in the context of an EGM. Any meeting that cannot wait for an annual general meeting is, by definition, extraordinary and an emergency. Therefore, whilst I understand that some people may feel anxious given the history at the club, I think we should relax. I believe that it could be positive news. How about approval for an artificial surface, or new investment? Either would need to be approved at an EGM if action was required before the next AGM.
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afro
Youth Player
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Post by afro on Mar 26, 2017 13:00:58 GMT 1
I am sure under the Company's Act there are only two types of meeting. The Annual General Meeting which is held once every year and if you need another meeting during that period it is an Extraordinary General Meeting. Never heard of an Emergency Meeting. 17th April is earliest "working day" that it can be held given the notice period of 21 days. Administration number 4 I am afraid... When did number 3 happen?  I agree with Colcal; if it were genuine panic stations then I'm sure the press would have had a whiff of it by now. I'm not saying it's positive by any means, given our track record, but surely law of averages dictates that we're due a break sometime soon. Sadly, my gut feeling is that the wrong kind of people want to expand their business to include the club. That's just my feeling based on what I've heard, though. |
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Post by italion on Mar 26, 2017 14:51:39 GMT 1
I love that everyone fancies themselves as lawyers all of a sudden, whenever any message like this emerges. My understanding is that the words 'extraordinary' and 'emergency' are interchangeable in the context of an EGM. Any meeting that cannot wait for an annual general meeting is, by definition, extraordinary and an emergency. Therefore, whilst I understand that some people may feel anxious given the history at the club, I think we should relax. I believe that it could be positive news. How about approval for an artificial surface, or new investment? Either would need to be approved at an EGM if action was required before the next AGM. 👌 To a certain extent it is immaterial what the meeting is called as there seems to be no provision under the act for calling it anything other than a general meeting. A special meeting (sometimes called an extraordinary meeting) can have two meanings. The first meaning is simply a meeting that is outside the regular timetable. This meaning tends to be simply a colloquial term that is used for something out of the ordinary.
It is usually called to discuss something important or unusual. This type of meeting usually requires no special notice but it is good governance to advise everyone who is eligible to attend, that the meeting is being held, and the purpose for it being held outside of the normal timetable – that is the topic of discussion.
The second type of special meeting is one that is defined in your organisation’s rules or constitution and has special requirements.
I think the whole situation has been exaggerated by the use of the word "Emergency". However it is interesting that a Floating Charge and a Bond and Floating Charge have been satisfied to the Bank Of Scotland on 5th January 2017. The Livingston Independent Supporters Trust, as the second biggest shareholder (as of 30th April 2016 ) should have notice of what is to be discussed??
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Post by misdemeanor on Mar 26, 2017 15:11:46 GMT 1
You are also aware though of the time of notification of resignation from the Scottish Football League and the allocated time for due dillengence should that be required.
No one is professing to be a lawyer but its hardly a typo on the statement and yes the press will be over it.
Again a failure by the club to issue a statement regarding the meeting.
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Post by keektennant on Mar 27, 2017 20:15:37 GMT 1
I'm told that it is good news rather than bad news for a change, but will just have to wait and see. Admire your optimism but when "emergency" is used instead of say "extraordinary " I fear the worst. Wording has been changed to Extraordinary General Meeting. Attachments:
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Post by Auldnick on Mar 27, 2017 21:54:41 GMT 1
I think someone realised that using "emergency" sends all the wrong signals
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Post by misdemeanor on Apr 17, 2017 9:39:36 GMT 1
Today is the day we will learn our fate hopefully from what some of the fans had said at the game at the weekend its positive rather than negative
Rumour has it its a new buyer? Well a new buyer would have to take on the debt which last we knew it was £1.8m? could be adjusted on that one...however if it is fantastic, brilliant news.
Otherwise what are we really faced with guys? Lets be honest.Im not doom and gloom but dwindling crowds and just us diehards left. Championship football is that really going to get bums on seats?...I hope so, but how do you sustain a football club with ave 600 people a week very little commercial sponsorship? The current board have to be commended and so does the manager paying groundstaff personnally to look after the pitch.
The answer and lets hope that its really positive, lets get a canvassing squad made up of us all here and we go out door to door around West Lothian in the close season and we sell season tickets. With the clubs help we tackle the data base first offering initiall packages to get these people back to Almondvale together with sensible payment plans.
We get a weekend at the centre at one of the hot points again making presence felt to passing trade. 100,000 people cross that centre threshold every weekend. Lets promote strips and season books again there will be a cost to this but quite prepared to pay a propotion of this to help and assit the club.
Dont know just a couple of daft ideas lets hope an announcement from the club today is fantastic.
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Post by jonsnow on Apr 17, 2017 12:37:15 GMT 1
Just hoping for new blood coming in with a bit of enthusiasm for promoting the club. The Peterhead game would be an ideal platform to do something special, you've got the cup being presented after the game, so getting the free school tickets out to all the schools and opening up the South stand for them would be good, along with a special deal on PaTG tickets and maybe even 'bring a friend' complimentary ticket for ST holders. A bit of pre match entertainment organised and a band playing etc.
It would also be great if we could have an open day during the pre season to get folk down to the stadium and have a stall set up promoting a special deal for our opening game, along with ST's being on sale.
As it is just now though, we're just relying on the OS and the Courier for season ticket sales.
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Post by italion on Apr 17, 2017 20:49:57 GMT 1
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Post by Auldnick on Apr 17, 2017 21:05:06 GMT 1
Looks fairly positive anyway.
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Post by misdemeanor on Apr 18, 2017 21:42:27 GMT 1
Interesting. 3,800,000 shares created. Quite outstanding. No mention of the debt, not thats a worry just wondering if there now is actual debt or whether its been written off.
Potentially £5m investment, ok we know its around 20k to host a home game rising to around 50k when the bigger teams land but tremendous news. We may well be one of the most financial secure clubs in Scotland now, so lets all get together and get out and about door to door and sell some bloody tickets.
But brilliant brilliant news someone to believe and see the potential in the club.
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Post by livijimbo on Apr 19, 2017 6:49:27 GMT 1
Interesting. 3,800,000 shares created. Quite outstanding. No mention of the debt, not thats a worry just wondering if there now is actual debt or whether its been written off. Potentially £5m investment, ok we know its around 20k to host a home game rising to around 50k when the bigger teams land but tremendous news. We may well be one of the most financial secure clubs in Scotland now, so lets all get together and get out and about door to door and sell some bloody tickets. But brilliant brilliant news someone to believe and see the potential in the club. You sure its no Admin 3 or 4 or have you changed position?  |
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Post by livijimbo on Apr 19, 2017 6:50:54 GMT 1
I believe 2 people from the LFL were there. I look forward to an email or a Facebook update giving their view on he matter. After all they represent the supporters.
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Post by lionel44 on Apr 19, 2017 14:28:38 GMT 1
New to this, but just felt misdemeanor was getting a bit carried away, and not really understanding what all of this probably means. Basically, the creation of 3,800,000 shares is not "outstanding". They could have said 20,000,000 shares, and it would have made no difference.
My take on this is that the club is something like three million in debt, and those who are owed that debt hope to get it back by selling three million £1 shares. I would guess that's virtually impossible in today's world, as as soon as you pay £1 for a share, you will be lucky if it's worth 1p.
"We may be one of the most financially secure clubs in the country now" is of course, nonsense. We still have a huge debt, and those people are looking to get their money back. No-one in their right mind is going to spend nearly four million to buy into Livingston.
Also , supporters buying shares to finance the team. Your average band of supporters buying shares tends to work out at £40 a skull. That's made up of the majority buying none, and a few buying a few hundred pounds worth. In reality, our 600 to 700 souls will raise £30,000. Maybe enough for one good player at Championship level for one season.
Misdemeanor, you seem to think that the club have just (potentially) been handed £5,000,0000 to spend. That simply isn't going to happen. Remember too, that if Ward buys out Ford (Rankine), that money goes to Ford (Rankine), not to the football club.
I reckon these shares will lie unsold for years.
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Post by Auldnick on Apr 19, 2017 18:42:14 GMT 1
And they say I'm the pessimistic one.
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Post by jonsnow on Apr 19, 2017 19:05:32 GMT 1
Where do yo get the 3M in debt figure from?
Rankine must've recouped a fair whack from the season Hearts, The Rangers and Hibs were in the league, Hearts must've brought about 15,ooo fans through. to our two league games and Petrofac cup game, and The Rangers brought a decent amount through too. Doubt we added to the Director loans when Hibs and The Rangers were still in the Championship the following season either. We obviously made a loss this season but still can't see it being anywhere near 3M in Director loans.
I still see this as good news, and am looking forward to seeing the plans for the future once everything has been finalised
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Post by lionel44 on Apr 19, 2017 20:16:47 GMT 1
We have lost money every season of our existence. Even the one season of "modest profit" was only possible by failing to pay Gordon McD his money. This current season, the projected losses will be well in excess of a grand a day. We have had a full time player on the books for every 30 supporters we have. However you choose to look at it, that equates to big losses. We were nearly two million in debt five years ago, and as far as I am aware, we haven't paid any of it back. On the contrary, we have continued to look for more soft loans.
For me, this share issue signals the end of the road for those willing to put their hard earned into a club that will never pay it back. Without selling the shares to new investors (and there is next to no chance of that), then the club might actually have to structure itself to get by purely on gate receipts and league and sponsorship money, Even then the debt is still there.
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On the official site , formal wording and given our track record, looks ominous. Anybody with knowledge out there?
