Confimred new owners of Raeding Footbal Club

[ZacNaloen]

The loan could be from the Thais

[TheLawnMowerMan]

It could mean a second mortgage on some land at a lower interest rate than a bank overdraft or a bridging loan until the owners cash arrives, or it could be financing the new players. It could be almost anything.
In itself it doesn't mean too much unless we have details of what they are exactly and also what the money is being used for.

[Royal Lady]

If the club has BORROWED money from its assets, why would it mean the Consortium has paid for anything? If the Thai lot had "loaned" us the money - wouldn't the Thai lot have a charge on the club for that amount or some other agreement in place to prove they've "lent" it to us?

[TheLawnMowerMan]

The loan could be from the Thais

Indeed, and a very valid point.
They may just be trying to protect the money they are "investing". This would probably be more likely if there was some kind of imbalance in the amounts being lent versus the share ownership proportions, or to give comfort if there are timing issues with making the funds available.

[Royal Rother]

2 charges have been registered against RFC? Really - by whom?

2 recently formed companies.

Universal Fico Ltd (Director is Sumrith Thanakarnjanasuth)

and

GPT UK Investment Ltd (Director is Narin Niruttinanon)

Both are a fixed and floating charges over all assets and contain a negative pledge which prohibits any additional borrowing being taken out without the lender's approval.

[Royal Lady]

Well that makes it a bit clearer then.

[Royal Rother]

Good. You asked a question and I kindly answered it.

[floyd__streete]

^ chemistry.

[Pepe the Horseman]

Hobnob's golden couple.

[Royal Biscuitman]

Schards#2 might have something to say about that, unless RR's location refers to Schards#2 in which case it seems all 3 are getting along just fine.

[RoyalBlue]

2 charges have been registered against RFC? Really - by whom?

2 recently formed companies.

Universal Fico Ltd (Director is Sumrith Thanakarnjanasuth)

and

GPT UK Investment Ltd (Director is Narin Niruttinanon)

Both are a fixed and floating charges over all assets and contain a negative pledge which prohibits any additional borrowing being taken out without the lender's approval.

So protecting their investment and ensuring that it isn't diluted by any further borrowing, other than with their consent. Seems fairly logical.

[Royal Lady]

Schards#2 might have something to say about that, unless RR's location refers to Schards#2 in which case it seems all 3 are getting along just fine.

LOL - his status does SEEM to be a description of Schards

[Pepe the Horseman]

Sounds like Rother's right up your street then.

[Royal Lady]

Nah. He's too old for me.

[genome]

Jesus I didn't realise Rother was born in the Cretaceous period

[Royal Biscuitman]

I thought only Adam would be too old and even then borderline.

[Pepe the Horseman]

Adam was RL's first husband.

[SPARTA]

What's the story with this Tomo guy? @Tomnomuk

He seems to think he set up the Thai deal and is now taking the club to court. I know he has had some dealings with the club, but you don't go public with a grievance like that if you're going through the courts.. Anyone know much about him?

[maffff]

He quit the club. Was a community adviser set up the Galatasaray and Marussia deals. He helped the takeover, finding new possible owners. Burman was a personal friend of his for instance, when the Thais got involved he helped with their bid and them getting exclusivity. I guess he feels with the takeover he's lost money. Not the best way to deal with it being so public if you're taking legal recourse.

He was very close with Samuelson and seems sceptical about the Thais since their initial involvement, especially Omar Hassanieh.

[PieEater]

I though Samuelson set up the Galatasary and Marussia links, at least that's what he said in his signing off interview.