I'm a bit fuzzy on the details but about a year ago there was talk of 6 to 8 million being paid off each year for x amount of years until we are debt free.
Has any of this been paid yet?
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I'm a bit fuzzy on the details but about a year ago there was talk of 6 to 8 million being paid off each year for x amount of years until we are debt free.
Has any of this been paid yet?
If i remember correctly he promised to convert £68m immediately and then a further £40m in 5 instalments of £8m. I think Keith Morgan of the Trust said that the first instalment of £8m had been sorted but the £68m was waiting for Malaysian regulatory approval. In the meantime VT has created enough shares in the club to enable further conversion of debt to equity but I have no idea what has happened since. Perhaps Keith can update us.
The first £8m happened in November 2016. The £68m has not yet happened. You are correct in saying that new shares have been created at a level more than sufficient to allow the full conversion of £68m plus another 4x £8m annual ones to take place.Quote:
Originally Posted by Enoch Mort