Formal Offer
ref ; The Liverpool
Football Club & Athletics Grounds Limited
Anfield Road, LIVERPOOL,
Great Britain L4 OTH
Podgorica , July 23rd
2010
Ref: MyPOD-KOPUN-ELSUN10723Lfc
Without Prejudice
Public Offer to Purchase ; subject to contract & special conditions*
The undersigned is hereby empowered to offer the rightful owners the sum of
e 260,000,000 (Two Hundred & Sixty Million Euros) for the full ownership of the club, all brands, logos, designs, stock,, equipment, sales, team players, stadium and all other assets previously known as, associated with or related to Liverpool Football club (hereafter known as "Lfc")
* special conditions:-
- The current "owners" remove themselves with immediate effect from particpation or comment concerning "Lfc"
- ChriS. R. Smith ("CRS") replaces the "Chairman" (M. broughton) & "Managing Director" (C. Purslow) as Chief Executive Office with absolute control of "Lfc" management until a full AGM of the new company "KOP UNlimited" is called.
- Subject to the relevant accounts of Kop Football ltd / Kop Football holdings Ltd & all accociated companies, (identified as the "sellers" ) being audited by persons appointed by "CRS"
- Payments to Royal Bank of Scotland, or other major creditors, or any sale of significant fixed or other assets (including the current plying squad) to be frozen until above audit is fully completed.
- This Offer does not exclude any member of the "Sellers" or above named companies or any person associated with "Lfc" from criminal or civil law suits.
on behalf of the join venture co-operative ; "Ko-OP UN Limited" ; between ELSUN : -UNofficial Liverpool Supporters (Overseas) UNION Network and EPOCH a.g. previously known as "Gemini Group" (hereafter known as "Ko-OP") who are prepared to direct this offer without, with or via "ShareLiverpoolFC"(SLFC) or "SoS" or "SaveLfc" or "AFC Liverpool" subject to any co-operative agreement that is FAIR & equitable to all Liverpool Supporters & fans Worldwide.
This offer is made in good will to resolve current and future disputes at "Lfc" and valid ONLY until 31st July 2010, at which time;
a) The above offer to purchase "Lfc" reduces by 10% per calendar month.
b) A civil and criminal claim will be made against the "sellers" officers, board members & co-chairmen (joint & several) for fraudulent deception , and violation of the interests of "Lfc members" & other members of the community. A winding - up order placed on their companies based on debts owed to our Worldwide members together with an (anton pillar mareva ) injunction to freeze all assets of said companies , the officers & personal assets and any of their associations in Europe, & USA!
The eventual purchase value to be guaranteed by co-operative bank ING; BNL & NLB.
The intention of this offer is to enable "Lfc" to be placed in the hands of those who would best serve the interests of true football supporters, Worldwide.
Upon legitimate acquisition there shall be a public offer ;
@ euros 500 per share (e500) :-
All Shareholders have equal rights & are made up of;
a) Those who have indicated
they are willing to fund "Lfc" (Via SLFC several thousand member
have apparently promised e5000 or more!) may invest an amount in excess
of e500
- will only receive a single
voting right, BUT to receive a 10% premium from future "Lfc LiverBird branding
profits"
b) "SoS" members &
other Global shareholders investing the minimum e500 per share as individuals
or as part of savings groups (such as the SoS "credit Union") have a single
vote at AGM/EGMs.
&
N.B.
c) Committee members of
"SoS" or "SLFC" will be eligible for election to the non-executive board
of "Lfc" subject to a shareholders vote at the next legitimate AGM.
d) "CRS" whilst carrying
out responsibilities as CEO of "Lfc" will not receive a salary prior to
the above-mentioned AGM, but will be re-imbursed with travelling &
associated expenses.
e) Any person removed from
"Lfc" by the current board, may be offered to renew his or her contract,
subject to the shareholders vote at the next AGM, otherwise all employees
contracts to be reviewed.
e & o e
Ko-OP UN Limited/ELSUN
Balkan REDS/ChriS SMITH
Toloshi, SK-0-(47)
81102 ,Podgorica
MonteNegro
email ; ball_can_reds@mypod-net.org
_____________________________________
Comment; this action is vital
a) to protect "LFC" &
its members ; Supporters & the community beign "bled dry" as NO - ONE
is taking the inititiatve
b) to ensure that ALL get
an equal chance, wherever a supporter may be born.
c) to take a underperforming
company/group to a worthy status in global football
d) to ensure that every
member who invests e500 or more receives a Profit within 5 years.
e) to ensure the TRUE "spirit
of shankly" & the true "Liverpool way" is understood and enhanced globally.
CS> " I am inspired by the memory of Shanks & what he did 50 years ago, there are too many groups (too many "cooks") & truly believe that I am the only person capable of taking on these suits and winning - I would eat broughton for lunch & purslow for dessert!" ;)
_________________________________________________________________________________________________________
Formal Offer
ref ; The Liverpool Football
Club & Athletics Grounds Limited
Anfield Road, LIVERPOOL,
Great Britain L4 OTH
Podgorica , July 23rd 2010
Ref: MyPOD-KOPUN-ELSUN10723Lfc
Without Prejudice
Public Offer to Purchase ; subject to contract & special conditions*
The undersigned is hereby empowered to offer the rightful owners the sum of
e 260,000,000 (Two Hundred & Sixty Million Euros) for the full ownership of the club, all brands, logos, designs, stock,, equipment, sales, team players, stadium and all other assets previously known as, associated with or related to Liverpool Football club (hereafter known as "Lfc")
* special conditions:-
- The current "owners" remove themselves with immediate effect from particpation or comment concerning "Lfc"
- ChriS. R. Smith ("CRS") replaces the "Chairman" (M. Broughton) & "Managing Director" (C. Purslow) as Chief Executive Office with absolute control of "Lfc" management until a full AGM of the new company "K0-OP UN limited" is called.
- Subject to the relevant accounts of Kop Football ltd / Kop Football holdings Ltd & all accociated companies, (identified as the "sellers" ) being audited by persons appointed by "CRS"
- Payments to Royal Bank of Scotland, or other major creditors, or any sale of significant fixed or other assets (including the current plying squad) to be frozen until above audit is fully completed.
- This Offer does not exclude any member of the "Sellers" or above named companies or any person associated with "Lfc" from criminal or civil law suits.
on behalf of the join venture co-operative ; "Ko-OP UN Limited" ; between ELSUN : -UNofficial Liverpool Supporters (Overseas) UNION Network and EPOCH a.g. previously known as "Gemini Group" (hereafter known as "Ko-OP") who are prepared to direct this offer without, with or via "ShareLiverpoolFC"(SLFC) or "SoS" or "SaveLfc" or "AFC Liverpool" subject to any co-operative agreement that is FAIR & equitable to all Liverpool Supporters & fans Worldwide.
This offer is made in good will to resolve current and future disputes at "Lfc" and valid ONLY until 31st July 2010, at which time;
a) The above offer to purchase "Lfc" reduces by 10% per calendar month.
b) A civil and criminal claim will be made against the "sellers" officers, board members & co-chairmen (joint & several) for fraudulent deception , and violation of the interests of "Lfc members" & other members of the community. A winding - up order placed on their companies based on debts owed to our Worldwide members together with an (anton pillar mareva ) injunction to freeze all assets of said companies , the officers & personal assets and any of their associations in Europe, & USA!
The eventual purchase value to be guaranteed by co-operative bank ING; BNL & NLB.
The intention of this offer is to enable "Lfc" to be placed in the hands of those who would best serve the interests of true football supporters, Worldwide.
Upon legitimate acquisition there shall be a public offer ;
@ euros 500 per share (e500) :-
All Shareholders have equal rights & are made up of;
a) Those who have indicated
they are willing to fund "Lfc" (Via SLFC several thousand member have apparently
promised e5000 or more!) may invest an amount in excess of e500
- will only receive a single
voting right, BUT to receive a 10% premium from future "Lfc LiverBird branding
profits"
b) "SoS" members &
other Global shareholders investing the minimum e500 per share as individuals
or as part of savings groups (such as the SoS "credit Union") have a single
vote at AGM/EGMs.
c) Committee members of
"SoS" or "SLFC" will be eligible for election to the non-executive board
of "Lfc" subject to a shareholders vote at the next legitimate AGM.
d) "CRS" whilst carrying
out responsibilities as CEO of "Lfc" will not receive a salary prior to
the above-mentioned AGM, but will be re-imbursed with travelling &
associated expenses.
e) Any person removed from
"Lfc" by the current board, may be offered to renew his or her contract,
subject to the shareholders vote at the next AGM, otherwise all employees
contracts to be reviewed.
e & o e
Ko-OP UN Limited/ELSUN
Balkan REDS/ChriS SMITH
Toloshi, SK-0-(47)
81102 ,Podgorica
MonteNegro
email ; ball_can_reds@mypod-net.org
_____________________________________
Comment; this action is vital
a) to protect "LFC" &
its members ; Supporters & the community beign "bled dry" as NO - ONE
is taking the inititiatve
b) to ensure that ALL get
an equal chance, wherever a supporter may be born.
c) to take a underperforming
company/group to a worthy status in global football
d) to ensure that every
member who invests e500 or more receives a Profit within 5 years.
e) to ensure the TRUE "spirit
of shankly" & the true "Liverpool way" is understood and enhanced globally.
CS> " I am inspired by the
memory of Shanks & what he did 50 years ago, there are too many groups
(too many "cooks") & truly believe that I am the only person capable
of taking on these suits and winning - I would eat broughton for lunch
& purslow for dessert!" ;)
Interim Plan
Dated 18th June 20101 in Podgorica, Montenegro
Background
A unique event is unfolding
...............
1. One of the most succesful
sports clubs in the World , who UEFA stated that, until last year were
most succesful of the previous five years , with the most succesful record
of the original league of the World most popular game is up for sale.
2. Within this is A global brand
; (tickets, shirts, souvenirs, club membership & related products
& services) worth in excess of 1 billion Euros - Worldwide is available.
3. The club has arguably the
most famous Supporters in the World, and its followers own the most famous
hymn ("You'll NEVER walk Alone!" ) sung in any sports stadium anywhere.
4. Today The Union ("Spirit
of Shankly") of said supporters have made a public announcement that they
have agreed with the company (ShareLiverpoolFc) to buy the Liverpool Football
Club from its UNWANTED owners.
5. "SoS" have been regularly
demonstrating against Gillet & Hicks, 2 USA citizens who have been
publicly criticised for methods involved in the leveraged buy out of LFC
from the former family owners of the Club. They have made public statements
that they are ready to go. The minister for the Liverpool constutuency
has publicly condemned G & H and they are being "investigated" - The
forced departure of R.Benitez causing anger amongst core supporters.
6. The previous shirt sponsor
"carlsberg" has completed its contract with Lfc - it is well known that
Lfc have probably the largest "travelling" support of any sports club in
the World (for example around 50,000 went to Istanbul in 2005 and Athens
in 2007 and most away games bring away supporters of between 5-10,000.
ALL Home games are sold out, with hunderds of pubs & sports bars around
Liverpool FULL on match days with beer-drinking "REDS" fans.
Opportunity
- Chris SMITH ("CS") is
a life-long LIVERPOOL supporter since the 1960's and all through the 25
years of domestic domination by the clubs teams which also won FOUR European
Champions CLUB winners trophies between 1977-1984.
- Despite the worst season in
over 10 years Lfc are considered the 2nd most popular football club in
the World, by global "facebook" users.
- The new/current shirt sponsors
are "UK Bankers" - not the most popular people amongst supporters!
- N. supplies a "dark beer"
we identify as RED, like Kilkenny or Murphy's RED ...but those have very
complicated distribution contracts europe and Worldwide - whereas if N
supplied "own label" RED beer (with OUR Liverbird logo & "RED beer
for All REDS") we would have a FRESH and identified IMPACT on our supporters
Worldwide
- "REDS" mostly use pubs as
"meeting points" not only for "away travellers" all over Europe but for
locations for our local (official or unofficial) supporters & fan clubs
Plan (brief outline of core strategy)
a) to acquire the club in the name of the global Supporters by end of August (start of the new season) or at least to be "in the process" of removal of the previous owners & legal completion by the "ReDS"..
- each supporter or fan opens a savings account and deposits the money that he would normally spend on "Lfc" products etc , and if he/she is a ticket holder offers at least 2 match tickets to visitng fans who dont usualy gets seats ; and again places said monies in the bank
- each regional supporters club (official OR "unofficial) co-ordinates each region of the Globe
- the regional clubs then vote on selecting a global "neutral" bank (with no existing ties to LFc) which has branches in each region to co-ordinbate said sum
the "bridging bank" (if needed) supports our bid for the club
on success; the bank is repaid
by the snowball effect of global fan base (to 1 million members) joining
the new "Kop Unlimited Liverpool Football club" (working title)
-SoS/ShareLfc have no objections
in co-operation to achieve these aims.
- ex players, players &
LFDC "celebrity fans" join as supporter/shareholders
(Michael Schumacher; Elvis Costello
; Chris de Burgh, ex-pm Blair family etc)
- a new range of products &
services promoting the LIVERPOOL brand will replace all existing sponsors
over time (bringing several billions of euros into the organisation within
5 years)
- providing a new stadium and
"protection" of Anfield road stadium as a working muserm/heritage site
, integrated with the "football quarter"..
- global marketing of the "Liverpool
lifestyle" brand
- at an EGM the existing management
(inc Rafa/Kenny) are offered the chance to complete their contracts, or
be replaced by effective & efficient "Lfc Loving entrepreneurs"
I could lead or at least "provoke" a FASTER buy -out by "global REDS" ...if there is any significant delay I will do so In association with "other investors" ........but be sure of 3 points;
- I have the experience contacts and capability I will do so with the absolute intent to ensure that this club eventually belongs to its supporters and fans (Worldwide), and is progressive.
- MY only benefit is to protect the only thing that has ever been constant,in my love, in my life.as WE (the true "REDS" ) will never be "happy" until we own Lfc, no other owners will care for or deserve it..
- IF EVER THERE WAS A FOOTBALL CLUB ON THIS PLANET THAT SHOULD BE IN THE HANDS OF ITS SUPPORTERS IT IS OURS! being a Liverpool RED is a lifestyle, society , a global family , this love is not to be continually violated by monetary mercenaries!
b) As typical of the Joint Venture ("JV") with <N>
- <N>. Supply "REd own label
beer" at its best "ex factory" price.
- a significant promotion begins
at the same time as the "buy out" (summer 2010)
- a Low cost location will be
managed close to N. to ensure maximum effect economy & profit
- A promotional delivery of
Beer, t-shirts are supplied to 200 KEY Supporter location around Europe
& LP
- a small sum from every sale
goes into the "Supporters fund" ( & HJC etc)
- Logistics are organised by
a "JV" company managed by "CS" - who will become "resident".
- 2 employees & a combi-vehicle
are provided by <N>.
- A dedicated website - with
"pay-pal" and other modern faciltiies will feature this "launch"
http://mypod-net.org/products.html
- " Balkan REDS" promotions events,
football tournaments are already planned for August & September
More details of Plans, information & methods shall be provided following evidence of INTENT by <N> required within this month (June 2010).
ChriS SMITH
Montengero
email:
Kop UNlimited
Podgorica
Montenegro
"the
Pool of Life...in the image of the Bird of Life must continue to nest in
the Tree of Life...is the LiverBird of LIVErpool...we must protect, defend
& nurture the source of living and of LIFE!"
&
______________________________________________________________________________________________
SLFC Proposal for fans
investment in Liverpool FC
Current situation
The concept of fan ownership
of professional football clubs is widely supported by politicians, football
governing bodies and supporter organisations. A range of fan owned football
club models work well on the continent including those of some of the largest
and most successful clubs in Europe. However, to date, we have not seen
this approach at the top end of English football. Traditionally English
clubs have been owned by local relatively wealthy businessmen who have
supported their club and have taken a fairly benevolent attitude financially
towards the club. This model no longer works at the very top of the game
due to the considerable amount of money now involved in football; effectively
local ownership has been priced out of the highest levels of the game.
Unfortunately some new investors that have been tempted to buy into English
football have over borrowed to do so. Liverpool Football Club (LFC) is
a prime example of this. As a result of the new owners being under capitalised
they have not been able to deliver what the club needs and what they originally
undertook to do.
We understand that LFC currently has to support some £350 million of short term bank debt owed between itself and its holding company. The cost of servicing this debt is expensive due to high level of gearing and the relative lack of security from hard tangible assets within the LFC group. The club needs to significantly reduce this borrowing by injecting new equity capital and restructuring the majority of any remaining debt into long term liabilities. Doing this would reduce costs, bring stability and enable the Club to move forward and to start to raise the necessary finance for the new stadium project.
Liverpool is one of the most widely and passionately followed football clubs in the world. We firmly believe that, if properly approached, this fan base can supply the equity/low cost funding that the Club needs. The financial involvement of the fans would be good for the Club and a viable option for the current owners and their bankers.
The Proposal
The proposals in this
paper set out just one way the Club might look to restructure were it to
seek investment from its fans. It is not suggested that this is the only
way it could be done or even that it is the best way. But it is intended
to demonstrate that the involvement of a fan owned structure in the overall
ownership of LFC is a viable option for the Club, its bankers and current
owners. This paper does not include any analysis of the commercial activities
of the Club and the opportunities that may exist to improve these. It focuses
solely on a possible new group structure and re financing of the existing
debt of some £350 million and its ongoing servicing and repayment
based on the current financial performance of LFC.
This paper also only intends
to set out the broad principles behind a possible structure fans might
use to participate in the ownership of the Club. Its aim is to help start
a discussion with the Club’s owners and bankers about the principle of
fan ownership and a possible structure this could be achieved through.
It is not intended as a detailed proposal. Further advice would have to
be taken to achieve the detail needed to support a transaction after any
discussions commenced.
The main proposals
at present are:
1)
The existing £350 million of short term bank debt would be replaced
by a mix of new equity and long dated 2% Loan Stock totalling £250
million from its new equity shareholders; with £100million left in
by its bankers in the form of long dated convertible loan stock.
2)
ShareLiverpoolFC (“SLFC”) would seek to raise £150 million of this
through a mix of equity and long dated subordinated 2% loan stock (the
"SLFC Loan Stock") from the Club’s fan base. The interest payable on the
SLFC Loan Stock would be met from SLFC’s investment in the Club.
3)
£100 million would be invested by one or more third party commercial
investors (the “Commerical Investors”). A shareholders agreement between
SLFC and the Commercial Investors would be entered into covering such things
as high level management strategy and a possible medium to longer term
exit plan for the investor.
4)
The £250 million of new equity/long term funding would be used to
fund a new company (“New Holding Company”) to acquire the shares in LFC
from Kop Football Limited, who will use the £250 million to discharge
£250 million of the current £350 million of bank debt.
5)
The banks would be asked to exchange the balance of their £100m of
debt for £100 million of new convertible Loan Stock in LFC. This
would be repaid / bought by SLFC at pre-agreed prices over approximately
20 years and upon acquisition converted into new shares in LFC.
6)
Without heavy interest costs and debt repayment programmes LFC would operate
more profitably at current performance levels.
7) Management of LFC would be by appropriately experienced and qualified individuals selected as being the best people available employed on appropriate contracts. There would also be a small number of non executive directors appointed by the shareholders whose responsibilities would be to ensure corporate governance standards and policies meet best current practise. They would also be there to ensure that the Club followed the broad principles and objectives set by its shareholders.
Current Financial Position of LFC
Much comment has been
made recently about the financial position of LFC. However, the real issue
is not the financial position of LFC but that of its holding company and
the current owners.
LFC’s holding company,
Kop Football Limited’s balance sheet at July 2008 can be simply summarised
as follows:-
Kop Football Limited
Assets
Cost of LFC shares £183 million
Loan to LFC
£ 80 million
____________________________________________
Total investment in LFC £263 million
Losses to date
(interest)
£ 37 million
____________________________________________
£300 million
Financed by:
Bank Loan £240 million
Shareholders’ loan (probably
borrowed) 60 million
____________________________________________
Total Debt
£300 million
Shareholder equity Nil
Kop Football Limited has
no other asset than LFC. Without the owners injecting personal funds the
company has no way of paying back its debt other than by selling its investment
in LFC or funding the existing debt cost / repayment from cash flows taken
by way of dividend or interest from LFC. LFC can not currently support
this level of debt.
At the date of the last audited accounts (July 2008) LFC itself owed the £80 million, as shown above, to the holding company (this has since risen to over £100m) and £22 million to the bank, so bank debt in the club alone itself is at a reasonable level.
Liverpool Football Club Profit and Loss account
The accounts show steady
growth in the Club’s revenues which totalled £159 million last year.
Media income grew strongly last year to a total of £68.4 million,
largely as the result of a new Premiership TV deal. Matchday income at
£39 million was fairly static year on year and is likely to stay
that way until a new larger stadium is built, or the existing one enlarged.
Commercial income is growing after a period of poor underperformance. We
believe there is considerable room for more growth in this area if managed
properly. The Club’s costs are dominated by player wages and amortisation
of player purchase costs. These are largely dictated by the market and
are in line, in percentage terms with other similar clubs. Gross interest
costs (including that capitalised) is over £10 million and presumably
growing, most of this appears to be payable to the holding company.
The Club has made a profit
on player sales in each of the last four years. Last year it made a profit
of £21.6 million mainly from the sale of Sissoko, Carson, Risse,
Guthrie and Crouch. Since the last year end the club has sold Finnan and
Keane for a total of £12.8 million a figure that may rise further
dependant on various conditions being met. However, subject to no sale
of major players during this summer’s transfer window, profit on the sale
of players in this current year may be down on last year.
See summary below of the
Club’s abridged audited Profit and Loss account for the last three years.
Balance Sheet
The Club’s last accounts showed some £28 million of shareholder equity, down from £40 million two years ago. Major changes in the year include an investment of £21 million in fixed assets, mostly capitalised costs re the new stadium project, a net increase of nearly £30 million in players, further investment of some £10 million in LFC TV and a reduction in total bank borrowings. This has all been financed by an increase in debt due to the holding company which has in turn increased its borrowings.
Balance Sheet
ShareLiverpoolFC membership
These proposals are based
on the assumption that, with the support of Spirit of Shankly, SLFC could
raise between 20,000 and 25,000 members. SLFC seeks to make
membership as open as possible to all fans. As the “fan ownership vehicle”
it wants to be seen as representing as wide a fan base as possible.
On its own SLFC currently
has getting on for 10,000 registrants. Originally over twice this number
expressed interest via its website. However, as no specific proposal has
been put to fans to date, many who originally showed interest in the concept
have not registered their financial support and probably won’t until they
see a specific plan. Spirit of Shankly has some 2,500 members. It is believed
that there is very little overlapping of membership between the two groups.
It is not thought unrealistic
to project that membership of SLFC would be at least 20,000 if a specific
proposal was agreed with the banks and the current owners, as fans would
then think it realistic that a transaction might happen.
A survey of the SLFC registrants
carried out earlier this year showed:
* 55%
considered that it was essential that any fan ownership company’s constitution
only allowed one vote per member, so all members had equal voting rights.
*
80% supported the concept of the fans entering into a joint venture with
a commercial partner to buy the club if this made the completion of a transaction
more likely.
*
60% were prepared to subscribe the suggested £5,000; 40% were prepared
to subscribe more.
*
The geographic spread of ShareLiverpool fans was:
21% were from Merseyside / the Northwest
35% were from elsewhere in the UK
10% were from Ireland
12% were from Scandinavia
22% were from elsewhere
The Spirit of Shankly membership is thought to be predominately from Merseyside.
Possible new group structure
The diagram on the following
page shows how the Club might fit into a new group structure. It shows
SLFC initially owning a 60% interest in the Club, with this rising to some
71% once all the banks’ convertible SLFC loan stock has been acquired by
SLFC and converted to new shares in LFC.
The structure also allows
for a third party commercial investor.
ShareLiverpoolFC Capital Structure
The following shows how
the revised capital structure of SLFC may look under these proposals.
Liverpool Football ClubCurrent
Capital Structure – at date of last audited accounts
The schedule on the previous
page sets out the current capital of LFC and then how the current capital
of New Holding Company would look under these proposals. Essentially there
would be a total of £350 million new long term capital. Initially
SLFC would have a 60% equity interest in LFC (through New Holding Company)
rising to 71% on acquisition and conversion of the banks’ convertible LFC
loan stock to new LFC shares which would be held directly by SLFC. It’s
proposed that the banks’ convertible LFC loan stock would be acquired in
instalments over about twenty years, being funded by dividends from LFC.
The proposal assumes that
LFC would be able to pay a total annual dividend of £12.5 million
on its ordinary (equity) shares to New Holding Company. With the interest
cost on the banks’ convertible loan stock, total financing costs would
be £14.5 million pa reducing over 20 years to £12.5 million
pa. We believe that this is a modest total financing cost for a club of
LFC’s size. Other short term bank facilities have not been considered as
part of this paper, as any application for such facilities would be based
on the business case at the time.
Out of the £12.5 million of dividends New Holding Company would receive from LFC, it would pay £7.5 million pa to SLFC in the form of dividends and interest. From the £7.5 million pa received from New Holding Company SLFC would pay £2.8 million (£140 million at 2%) on its subordinated loan notes providing a pa surplus of £4.7 million. If cash wasn’t available for LFC to pay a dividend then interest would be rolled up on the loan stock respectively issued by New Holding Company and SLFC. Assuming LFC can pay such dividends each year and there is modest growth in the dividends paid, the annual surplus SLFC funds could be used to purchase the banks’ convertible LFC loan stock in equal annual instalments over a 20 year term, though it may be quicker if LFC’s profits were higher during the period. ShareLiverpoolFCJuly 2009
NOTE (contact for further information Email)
SoS have adjusted the requirement to be 500 (GBP) for a share...
KOP UNlimited propose
that the Global Fan base start joining "Savings groups" as per the above
(in Liverpool there is the "Credit Union") which enables even the
poorest REDS Supporter to join in the ownership scheme.
meetings of the "Balkan REDS" to be held @ the LIVERPOOL pub, centar, BAR, (near Podgorica) Montenegro
how did we get here?...every
picture tells a story; http://mypod-net.org/PhotoAlbums/KOP_UNltd-Balkan_REDS
CONT:-
___________________________________________________________________________________________________________________________
CS> KOPUN10710
Dear Graham
cc: rogan
Strategic proposal
- as I have had no reply to my email (below)
I propose the following action to secure the club for the global Lfc supporters
(10% will not prevent further exploitation
of OUR loyalty, our club , or its assets) ;
1. As a solitictor (and "officer of the
courts") it is your obvious duty to protect the situation from further
abuse, and therefore take out an INJUNCTION to
- stop the sale of the club (or any part
of it) , including the existing players squad
2. To suspend payments to RBOS pending
an investigation into the actions of said bankers , and the relationship
with G & H, Purslow and Broughton.
(the level of borrowing itself is contrary
to the interests of the club & its members)
3. LFCNY to lead a (threatened) "class
action" V G & H in the USA, several different claims from supporters
& suppliers & former employees, not least the global supporters
base who have been defrauded since acquisition by G & H (and arguably
prior to that date, but thats another arguement)
4. K. Gill/ D. Gill to front a campaign
to ensure that the Global Lfc Supporters are fully & equally represented
in the new club, which requires a new structure of organisation (alternative
proposal to connect ShareLfc, SoS & Kop UNltd via "AFC Liverpool" as
VEHICLE to take over Lfc)
5. Promotions & initiatives to achieve
income worldwide for the global supporters fund, with "LiverBird products
& services" ...Kit, souvenirs & t-shirts, drinks (Red Bevvy etc)
bringing the "rogue traders" into the "Global Reds" network.
Methods etc, to achieve the 100% ownership require experience , ability & dynamic management, a committee is not able to negociate in this "sea of sharks" so whatever differences there are , the common goals must surely be y-our focus?
CS
PLEASE READ;; the latest BLOG
(& UNedited extract from ChriSmitH's new publication ;
"PLEASE DONT Tick the BOX" )
: http://eured-zreds09-10.spaces.live.com/blog/