Hi Manny. I've kept myself out of this one for a while but this is a point I always feel compelled to challenge...
I won't go over the numbers again - we've done that to death - but I think most on here broadly accept that in a best-case scenario (from their point of view) our current owners are somewhere near break-even on their investment in NTFC to date. In the worst-case (in my view, more plausible) scenario, they are in a £6-7m hole. After the next set of accounts are published I'd expect both scenarios to look c.£1m worse. Either way, any money they 'take out' will be off the back of a substantial further investment in the ground that they will need fund themselves.
This is not me supporting the owners or bashing the Trust. I just think we ought to keep things factual, especially if your aim is to take people with you.
Hi Parrot, may I ask nicely why you say about keeping things factual but have said, I assume, that you don't believe the Chinese money happened.
Trouble is that as unbelievable as it is, it did happen.
The Chinese money and deal did go ahead, payments were made and received. Yes to me it doesn't make sense and I assume (as you say it's not plausible that it did) neither do you, which draws a conclusion of some sort of dodgy deal.
Having said that, deals that don't make sense to happen every day.
Why would someone, with no business history, suddenly pay £6.68m for a business that the owners had paid £1 and £166k debt for 2 years earlier. Yes there was some other investment but only £1m or so. On top of that, part of the deal is you agree to put in further funds. This bit didn't happen, so they agree a £1m loan to the business with the sellers.
This questionable very term loan was to be paid back in a few weeks otherwise you default and lose all your shares in that business. (as it was put up as security)
Totally agree with you that it's more plausible that it didn't happen. BUT IT DID !!!