The unfulfilled promises of Vincent Tan.

[Superdad]

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

[Under the Splott-light]

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

Do you honestly think this current predicament is 'better' than the one that you allude to..?

[Vimana.]

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

It was Wigan that Kav headed off to in a helicopter.

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

Why need there be any interest rate - surely a modicum of altruism from such a lover of charity woiuldnt be out of the question ..?

The interest charged on the loan was used to dilute everyone else's shareholding when it was converted to equity

[Ray Mears]

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

Why need there be any interest rate - surely a modicum of altruism from such a lover of charity woiuldnt be out of the question ..?

It was Wigan that Kav headed off to in a helicopter.

Tan hasn't converted any debt to equity at all, he has bought his shares from shareholders.

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

Why need there be any interest rate - surely a modicum of altruism from such a lover of charity woiuldnt be out of the question ..?

It was Wigan that Kav headed off to in a helicopter.

The interest charged on the loan was used to dilute everyone else's shareholding when it was converted to equity

I'm pretty sure there was an agreement to convert the interest on the loan to equity

[Ray Mears]

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

Why need there be any interest rate - surely a modicum of altruism from such a lover of charity woiuldnt be out of the question ..?

It was Wigan that Kav headed off to in a helicopter.

The interest charged on the loan was used to dilute everyone else's shareholding when it was converted to equity

Tan hasn't converted any debt to equity at all, he has bought his shares from shareholders.

From Keith - "As far back as a meeting of shareholders held in July 2011 there was a resolution passed from Mr Tan and his fellow Malaysian investors to convert £5.1m of loans into shares. It never happened."

I'm pretty sure there was an agreement to convert accrued interest to shares, but whether it actually happened is Moot.

[splott parker]

Beats me how Tan (and some of his apologists) think that City fans should show more respect and be grateful, that's akin to a desperate man thanking Wonga.com for putting him deeper in the shit.

[the other bob wilson]

Ah the old 7% interest rate. Like most loans. The time to worry is when a helicopter takes the club captain to West Brom for £700k.

Why need there be any interest rate - surely a modicum of altruism from such a lover of charity woiuldnt be out of the question ..?

Perhaps these accountant types (interesting that the accountant who has tended to be proved right most often on our finances thinks differently) can explain how our current potential situation differs to ten years ago when about 80% of our debt was owed to one individual/company and we ended up with Black Friday. As I keep on saying, while our situation remains as it is, Tan is nothing more than a better connected and richer Hammam - the only difference is that the club's level of debt is far more dangerous than it was before if Tan wanted to get vindictive.

Bob

What exactly is there to be proved right on our finances? From what I've read, Keith has only ever given his opinion on the numbers and what they likely mean. Interpreting a set of accounts is not rocket science to the trained eye. Football accounts are hardly complicated to understand.

Whether it's debt or equity Vincent Tan remains in control either way and the sales price (should there be one) would be based on future earning potential.

Two other points:

1. I don't think anyone is really saying anything differently - the same thing is being said just in a different way.

2. If all the debt was converted to equity Vincent Tan would find it easier to wind up the club as a a CVL is more onerous than a MVL

[Since62]

Two other points:

In a MVL case , the liquidator could also sell on the club`s golden share enabling it to carry on trading as a football club in its current position in the league.

It's easier because there is less work involved (as you allude to yourself). Thats what i was getting at.

In an MVL the IP will be bound to act in the shareholders interests. It may well be that VT doesn't want to sell the club's golden share. It's not a foregone conclusion