Trust Loan To SUFC - Statement

[Shrimperstrust]

Members of the Shrimpers Trust committee met with Southend United chairman Ron Martin and chief executive Geoffrey King on Friday 26th February to discuss the Football Club’s request to extend the deadline for the return of the short-term loan made by the Trust to the Club at the end of 2009.

To read the Statement in full click here.

 

[Mick]

Members of the Shrimpers Trust committee met with Southend United chairman Ron Martin and chief executive Geoffrey King on Friday 26th February to discuss the Football Club’s request to extend the deadline for the return of the short-term loan made by the Trust to the Club at the end of 2009.

To read the Statement in full click here.

The decision was made after a period of careful deliberation and followed full and frank discussions between the two parties about the state of the Football Club’s finances

Have the players been paid yet ?

 

[Shrimpergonzo]

Shrimpers Trust Loan

Just received this in an e-mail:

Members of the Shrimpers Trust committee met with Southend United chairman Ron Martin and chief executive Geoffrey King on Friday 26th February to discuss the Football Club’s request to extend the deadline for the return of the short-term loan made by the Trust to the Club at the end of 2009.

As a result of this meeting, the Trust can announce that the revised deadline for the repayment of the £60,000 loan transferred to the Club in December will arrive at the end of April 2010.

The decision was made after a period of careful deliberation and followed full and frank discussions between the two parties about the state of the Football Club’s finances.

The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.

The Trust is satisfied that the new deadline will allow for this operation to take place and considered any demand for immediate repayment to be unhelpful at this time. It is also confident that the initial decision to loan funds to the Club, made at short notice due to the situation at the time, was the correct course of action to take.

Trust members will be kept informed should any further developments arise.

Guess this is indicative of the cash flow problems the club have.

 

[Smiffy]

What does this mean?...

The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.

 

[BILLERICAY BLUE]

What does this mean?...

The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.

Ron's getting a loan, or he's going to complete the purchase of the pizza place etc, and it's taking longer than expected.

This actually ties in with what Tilly said after the game about things lokking a lot better in May.....

 

[Pubey]

What does this mean?...

The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.

I've no idea.

 

[callan]

What does this mean?...

The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.

The trust have been knocked!

 

[Tin Bath]

Well working capital means cash or assets that can be turned into cash at short notice, that statement would suggest the club has some money tied up in an investment that hasnt been crystilised yet. In plain English it could mean Southampton havent paid us any fee yet for Barnard???

 

[Tangled up in Blue]

The decision was made after a period of careful deliberation and followed full and frank discussions between the two parties about the state of the Football Club’s finances

Have the players been paid yet ?

There was a comment on The Late Show last night to the effect that the players were due to be paid their January wages today.
Presumably we'll have to check Macca's Facebook status to find out! :)

 

[Shrimperstrust]

Thread Merged with Trust Thread regarding Trust Statement.

 

[Firestorm]

Ron's getting a loan, or he's going to complete the purchase of the pizza place etc, and it's taking longer than expected.

This actually ties in with what Tilly said after the game about things lokking a lot better in May.....

And possibly the thread about "I have heard from an accountant " too

 

[Pubey]

I guess time will tell...

 

[canveyshrimper]

What does this mean?...

The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.

Ron's hoping for a win on Euromillions.

 

[fatshrimp]

So if it's getting paid back end of April, will this tie in to the alleged good news we're told to expect in May?

 

[McNasty]

So if it's getting paid back end of April, will this tie in to the alleged good news we're told to expect in May?

May ? Didn't say which year !! :)

 

[Smiffy]

Good news maybe coming sooner than May...

 

[BILLERICAY BLUE]

Good news maybe coming sooner than May...

Any clues Smiffy, apart from Sralan....

 

[Smiffy]

Any clues Smiffy, apart from Sralan....

Afraid not mate.

All I have been told is that some good news is due to be announced next week.

Have to wait and see I guess. Although it does feel like something positive is brewing at last...

 

[McNasty]

Good news maybe coming sooner than May...

The Mrs in the club again ?

 

[BILLERICAY BLUE]

Be great if he got involved. I can see it now "GK, you're a lightweight. You're fired" :D