I think Coronavirus happened.
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What happened to that?
Didn't Tan almost cast that in stone?
Tan made the 'debt free in 5 years' commitment in February 2016.
https://www.itv.com/news/wales/updat...-issue-shares/
Keith Morgan gave a pretty thorough update commentary in early 2017 following a meeting with Dalman that was reported by WOL, explaining some of the hurdles to making good on that commitment:
https://www.walesonline.co.uk/sport/...xpert-12703275
Tan has written off a lot of debt and made several big debt to equity conversions. The exact figures have been discussed on here many times.
A few years back (pre Covid) Dalman seemed to have altered the script to question why Tan would follow through with his commitment, rather than explaining why it couldn't be done in the original timescale.
Then Covid happened.
We are better off in liquidation
presumably converting debt to equity is a lot less appealing to do in a company that is reducing in value
The 5th anniversary for the conversion of debt to equity was Feb 2021. The last meeting with Mehmet Dalman prior to the one on Saturday was a Zoom meeting in Jan 2021. He was asked this question then and he confirmed that, due to the financial impact of Covid, the plan to complete the debt to equity conversion had been deferred. No date for completion was given.
also, doesn't the Michael Isaac legal action relate to issuing new shares? might the outcome of this be delaying any further increase in equity?
Wales is not a state and Cardiff is not a state capital. The word 'country' means a number of different things and Wales does not have its own exclusive government or representation at international meetings of any gravitas. It doesn't have representation in its own football league (a very lowly league) etc etc. - so the comparison is rather meaningless.