John Clark Meets “The SFA”

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John James’ latest blog is getting close to crossing the …

Comment on John Clark Meets “The SFA” by easyJambo.

John James’ latest blog is getting close to crossing the line once again naming individuals and discussing evidence that may be disclosed at the Fraudco trial. However the message behind the blog could well have some plausibility in it.
https://johnjamessite.wordpress.com/2016/02/16/atlas-shrugged/

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John Clark Meets “The SFA”
JUDGE R A DUNLOP QC
PETITION DEPARTMENT
UNSTARRED MOTION
1 P1140/15 Note: HMA for Order re: failure to comply by Craig Whyte – COPFS
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I see that tomorrow’s Court of Session action is “Unstarred”, which means it is unopposed for the moment.  That’s not to say that it won’t be opposed at a later date. 

COPFS stands for Crown Office and Procurator Fiscal Service which suggests that the Crown is seeking permission or guidance to do something in response to Whyte’s non compliance.

I’m not free to attend tomorrow and I don’t know how long the proceedings will last, so it will be up to JC or others to decide whether or not it is worth going.


John Clark Meets “The SFA”
berrty 15th February 2016 at 9:34 pm #
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I’m guessing a Dons fan has already updated Willie’s Wiki entry.

http://uploads.tapatalk-cdn.com/20160215/40eb90b1d9b0dc371a0ba0a6bb02c364.jpg

Richard Gordon immediately after the game “That’s all from the Willie Collum show for tonight, but there will be another programme on soon” (or words to that effect).
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Jim Spence ‏@JimSpenceSport · 37m37 minutes ago
Willie Collum certainly unites the nation ?


John Clark Meets “The SFA”
Here’s a link to the full Sunday Post article re Whyte’s residence in Belgravia.

Bankrupt in Belgravia: Ex-Rangers owner Craig Whyte staying in £5 million London flat while getting legal aid

The identification of Whyte’s latest girlfriend as Charlotte Foley makes the Machiavellian in me wonder if there was any connection between this Charlotte F. with the other Charlotte F. we have come to know and love.

In reality, the dates re Charlotte don’t fit, but it was a nice thought anyway. 


Recent Comments by easyJambo

It Is Better To Offer No Excuse Than A Bad One
Allyjambo January 2, 2018 at 14:38
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My one overriding memory of the Ibrox disaster was that of the five schoolkids aged between 13 and 15, all from the village of Markinch in Fife, who lost their lives.  I lived just a few miles away and was only 15 myself, at the time.

I remember those losses having a huge impact on the local Fife schools and communities.   


It Is Better To Offer No Excuse Than A Bad One
HOMUNCULUS DECEMBER 28, 2017 at 15:38
It doesn’t matter if it is paid to a trust or your aunt Agatha, you still have to pay the tax. I have no idea why they use the name Agatha, but they do. 
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“Aunt Agatha” was used by the RFC QC Andrew Thornhill during the appeals process when discussing the redirection of earnings to a third party.

On a separate point about the share price.  The sale of Ashley’s shares to Club 1872 and Julian Wolhardt was used by King’s QC at the CoS, as an example of shares trading above the 20p price.

The TOP’s QC, however, countered that by claiming that Ashley wasn’t interested in the share price, but was insistent that he received £2m for his shares. To that end, it was pointed out that the price per share paid wasn’t 27p, 27.5p or 28p, but something to the second or third decimal place that ensured that the sum received was not £1,999,999 but a fraction over the £2m figure.  I can’t recall the exact fraction used, but the counter argument put forward seemed entirely plausible.


It Is Better To Offer No Excuse Than A Bad One
Homunculus December 27, 2017 at 22:39
EASYJAMBO DECEMBER 27, 2017 at 22:32
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Cheers.
Is there a way of calculating how the issue of new shares reduces the value of the existing ones, or is it not as simple as that. I don’t imagine for a second it is. 
I cannot believe that the sale of new shares does not effect the value of those held by existing shareholders. That would surely be market capitalisation gone mad. 
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It’s not as simple as the share price being reduced inversely proportionate to the number of additional shares issued.

The capital value (no of shares x share price) of the club is presently around £16m at 20p a share (80m x 20p), but given that the club also has £16m of debts, you could argue that a debt free club would be worth £32m (or 40p a share).

The value of the shares going forward would depend of the amount of debt written off and the number of shares issued in order to achieve that. e.g. if they double the number of shares to 160m in exchange for writing off half the debt.  The capital value of the club might go up to £24m, as it only has £8m debt, but the value of each shares would probably fall to 15p. (160m x 15p = £24m)

If however, they manage to double the share numbers, write off half the debt, but also raise £4m in new money, then the capital value of the club should go up by £4m (the new money). So you could see the capital value rise to £28m, but still with £8m debt. The share price might then be 17.5p (160m x 17.5p = £28m)

I hope that makes sense. It does to me, but the nuances of share numbers, to debt, to capital raised can easily be lost, if you don’t have an appreciation of where they are at just now, and where they might end up.


It Is Better To Offer No Excuse Than A Bad One
shug December 27, 2017 at 22:05
Great hard fought match tonight.
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Sadly, that was two hours of my life I won’t get back.  There was nothing great about it and it was more of a borefest akin to many derbies of yesteryear.  Tom English described it perfectly as “Thud and Blunder”


It Is Better To Offer No Excuse Than A Bad One
Homunculus December 27, 2017 at 18:21
I take it all that has happened is that they passed the resolution allowing them to issue new shares. Those new shares have now been created.
This is them simply notifying Companies House that they have done that, Companies House records show how many shares have been issued.
That has to be done before they can actually sell them to anyone.
Purely a procedural matter I would have though. 
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It’s not got as far as creating the shares. It’s merely confirmation that the Board has the authority to issue shares up to the specified limit.  That authority expires on the date of the next AGM.

The allotment of up to a nominal value of £1,086,376.01, means that new shares equivalent to 1.333 times those currently available can now be issued.  I’m sure that there will be a good reason for the number of new shares being set at that specific level, but I can’t think of one. 


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