Post by cterry103 on May 12, 2017 14:54:34 GMT 1
The club have just released the application forms for buying shares of the club with there being a minimum send of £50 (so you get 50 shares): livingstonfc.co.uk/shares/
They also released a memorandum to go along with the application form which provides some information on the clubs finances in particular the following section:
"Shareholders’ funds and the carried forward profit and loss account show a deficit of circa -£1.5m at 30th June 2016. However much of this debt is in the form of Directors and Supporters loans. The new structure where Opcco6 Limited are acquiring the majority shareholding will see this debt reduce to less than £400,000.
Which consists of:
10. Bank Debt
The club has no bank debt"
Now there is a lot in the memorandum and I would be lying if I said I fully understood the whole document but what I take from the quoted section is that the club has debt of 1.5 m and the new owners aim to reduce that debt by 1.1 m.
Now as they have said the money generated from shares is going straight into the First Team budget, that would suggest some serious investment from the new owners or that they have a plan for generating money.
Would welcome any thoughts on this as my understanding of Business finance is non-existent.
LFC-LTD-Memorandum.pdf (120.87 KB) LFC-LTD-Share-Application-Form-Website.pdf (774.5 KB)
They also released a memorandum to go along with the application form which provides some information on the clubs finances in particular the following section:
"Shareholders’ funds and the carried forward profit and loss account show a deficit of circa -£1.5m at 30th June 2016. However much of this debt is in the form of Directors and Supporters loans. The new structure where Opcco6 Limited are acquiring the majority shareholding will see this debt reduce to less than £400,000.
Which consists of:
10. Bank Debt
The club has no bank debt"
Now there is a lot in the memorandum and I would be lying if I said I fully understood the whole document but what I take from the quoted section is that the club has debt of 1.5 m and the new owners aim to reduce that debt by 1.1 m.
Now as they have said the money generated from shares is going straight into the First Team budget, that would suggest some serious investment from the new owners or that they have a plan for generating money.
Would welcome any thoughts on this as my understanding of Business finance is non-existent.
LFC-LTD-Memorandum.pdf (120.87 KB) LFC-LTD-Share-Application-Form-Website.pdf (774.5 KB)
