Investment Proposals

[Alan]

Few points.

Who suggested option 1 and why if not everybody listed will actually accept it? Why won't Tamplin accept it? He still gets most votes and shares.

Equal footing proposal sounds most palatable to me but shouldn't JS be first in line to take up the slack if anyone pulls out given his willingness to invest?

I'm deeply uncomfortable with anything that gives Tamplin majority.

This. I feel very uncomfortable with the proposal on the table. I'm really worried too that John Still being in this proposal might swing it, because people will vote for him, without actually thinking of the other people he is in bed with, particularly the controlling interest.

I find it deeply worrying that Tamplin does not agree with any proposal which does not give him controlling interest.

In the interests of fairness, Tamplin did put forward a proposal where 8 investors invest £125k each for 10% each, but nobody has accepted it.

[Adrian]

John Still is a rich man, been in football for many a year. Was on £100k a year when he was last with us and Luton doubled that for him to leave. What was his pay off from Luton? Nice villa in Cyprus too. Trouble with Still is he will walk away from it all in May and probably sell up to Tamplin.

That doesn't make sense. He may have money but why would he put money in with Tamplin and not with the Goodwins/Easts? Surely if he wants a part of the club and it is his own money, then he would go with both. As much as I love John Still, this does not feel right.

He obviously feels that Taplin is the right place to put his money, simple really I would have thought.

It could even be something as simple as the Tamplin consortium has spoken to him about it, while the Goodwin\Easts haven't.

[Adrian]

Few points.

Who suggested option 1 and why if not everybody listed will actually accept it? Why won't Tamplin accept it? He still gets most votes and shares.

Equal footing proposal sounds most palatable to me but shouldn't JS be first in line to take up the slack if anyone pulls out given his willingness to invest?

I'm deeply uncomfortable with anything that gives Tamplin majority.

The proposal from the Easts/Goodwins etc doesn't really add up.
They'd put up £250k and get 5 votes, while Tamplin/Bennett/Smythe would put up £750k and get a total of 6 votes.
With the members votes, it looks like it's essentially being set up so there'd be 6 votes on each 'side' of the consortium. That seems a bit stupid as it would just lead to constant deadlock between the two.

It doesn't look like a proposal I'd want to accept, and would probably be being ripped to pieces if it had been made by Tamplin & co.

[Adrian]

Yeah it's getting cheaper and cheaper as he simply does not have he capital to put it in upfront. Con artist of the highest calibure! He is worth £45m should be like pocket change unless they were all lies just like its his boyhood club.

Tamplin piss off, Thommo and Bennett it's time to go.

Looks like he's got more capital than anyone else has though. You are aware that someones worth will often be tied up in assets that can't be instantly turned into cash aren't you?

[dagger4eva]

Shame said assets counted for ****** all when he left debtors up the swanny to 2.25mil.

At some point in the future he'll do the same to us.

Go ask Hornchurch fans what their opinion of My Bryco is....

[Adrian]

That'd be because personal assets aren't used to cover the debts of limited liability companies.

[AVincelotFlyingLeap]

Maybe Still has done his own research about Tamplin and met him and people who know him and realised he is actually going to be good for the club.

The last foray into the league has obviously ended with the club being up the creak with a small paddle so let's do it again on someone else's money.

It might all go wrong but I'm sure the ride will be fun.

Jesus Christ that sounds like a sensible opinion. What the hell's going on!

[Diggerthedog]

Yeah it's getting cheaper and cheaper as he simply does not have he capital to put it in upfront. Con artist of the highest calibure! He is worth £45m should be like pocket change unless they were all lies just like its his boyhood club.

Tamplin piss off, Thommo and Bennett it's time to go.

Looks like he's got more capital than anyone else has though. You are aware that someones worth will often be tied up in assets that can't be instantly turned into cash aren't you?

But he does not even have it tied up in assets. He says his house is worth double of what it actually is and they fact he has two mortgages on it makes it even more laughable. Fact is he is not worth what dodgy accountant says he is worth, simple really.

Why does he need overall control to need to invest? I tell you why because he wants to run up debt and walk away when he is bored.

What I don't understand is why he wants to keep The plumber and the current MD involved as they have failed at running this club financially. But then again we know why it's because he would have no chance of getting in. They are also fools and will be binned once his feet are under the table.

[BrexitDagger]

From the get go, Tamplin has been pushed through by a current, failed board of whom many supporters no longer trust.

There is quite obviously something in it for them, the only question remains, does it come in the form of a brown enevelope or a guarantee of their job?

Under the final proposal, Mr MBE somehow keeps his place on the board despite NOT being an investor. Interesting that huh?

[Mike the Dagger]

Bit out of the loop here as I'm on holiday, but agree with Alan that Tamplin has made an offer where everyone willing to put in the same amount gets the same vote which seems fair. The East/Goodwin/Ward consortium's issue is that it is either outgunned with regard to the money it can put up, or unwilling to match Tamplin.

The key here still remains do we need to have this investment to survive. If so, then the board needs to seek the maximum it can in order to make the sale of the club's soul worth while. I'm not totally convinced that we are doing that and there are a lot of vested interests involved in working this deal out which makes me uncomfortabkle.

Lots of unanswered questions still, but I'm getting resigned to the fact this is going to get pushed through in some form or other so the next question needs to be who is Glenn Tamplin and what are his motives in buying in. Is he Karl Williams in disguise or is he genuinely what Dave Bennett told me he was, someone with a pot of money, time, and an interest in football?

[steeevooo]

The thing that I find most laughable is that Mr. Bennett opens his argument by saying that the current proposal would be rejected by Tamplin, Smyth and himself due to it being inequitable. Ignoring how valid or otherwise that argument actually is, he then concludes his argument by putting forward a proposal which would see Mr. Thompson given a voting place on the board whilst making no financial contribution whatsoever...surely that would be inequitable?!!

[Voice of reason]

I don't think enough people know all the facts about the most notorious of Mr Tamplin's bankruptcies
When the Receiver came in he initially thought that a large quantity of plant and equipment including some very expensive cars were part of the assets he could sell to satisfy at least past of what was owed to creditors
The Receiver soon realised that Mr Tamplin had title to all these items via another of his companies after taking out a court order against his own company as landlord for unpaid rent
The final report also mentions an order for goods worth £16,000 made shortly before the company ceased trading which was delivered to Mr Tamplin's home address but never paid for.
It seems that the supplier of these goods made a complaint to the receiver who notes that a payment of £10,000 was made as a compromise
But the Receiver still mentioned it in his report along with other criticisms of Mr Tamplin's conduct. He also noted that he was dealing with insolvencies for several of Mr Tamplin's companies simultaneously
It's normal business practice for due diligence checks to be made by directors of a company (such as Daggers) on anyone who wants to invest in them or take over entirely.

This would normally be done by accountants of other similar professionals in the financial sector
Perhaps the Members can ask if such checks were made and what was reported before any vote

[BrexitDagger]

If one was being slightly devious they might also like to ask the question of what Due Diligence Mr Tamplin carried out on the Football Club prior to any of his investment proposals.

The answer would undoubtedly astonish a few, if not all.