£14.285mil convertible loan notes

[Foxy]

LONDON (Thomson Financial) - Football club Sheffield United Plc. said it plans to issue up to 14.285 million pounds of convertible loan notes and has called for an extraordinary general meeting on Aug. 18, to get shareholder approval for the same.
It is intended that about 10.58 million pounds of the issue will be funded by the rolling over of the 10.58 million existing loan and unpaid accrued interest owing to SDG Caledonia Holdings Ltd. -- a company indirectly controlled by Sheffield chairman Kevin McCabe's immediate family and related trusts -- which falls due for payment by end-August.



The remainder of the funds received will be used to obtain planning permission for the redevelopment of the Fraser's Property KOP stand at Bramall Lane, to underpin investment in the first team and for working capital purposes, Sheffield added.

 

[beightonblade]

Here we go !

LONDON (Thomson Financial) - Football club Sheffield United Plc. said it plans to issue up to 14.285 million pounds of convertible loan notes and has called for an extraordinary general meeting on Aug. 18, to get shareholder approval for

the same.

It is intended that about 10.58 million pounds of the issue will be funded by the rolling over of the 10.58 million existing loan and unpaid accrued interest owing to SDG Caledonia Holdings Ltd. -- a company indirectly controlled by Sheffield chairman Kevin McCabe's immediate family and related trusts -- which falls due for payment by end-August.

The remainder of the funds received will be used to obtain planning permission for the redevelopment of the Fraser's Property KOP stand at Bramall Lane, to underpin investment in the first team and for working capital purposes, Sheffield added.

 

[Foxy]

Cough.... http://www.sheff-utd.co.uk/forum/showthread.php?t=10480

 

[beightonblade]

oooopppppppsssssssssssssssssssssssssssssss......................................

 

[keenzy]

so in keenzy terms were paying off our debt and the rest of the dosh is going towards plans for new kop etc.

 

[rachyblade]

so in keenzy terms were paying off our debt and the rest of the dosh is going towards plans for new kop etc.

I think so Keenzy, thats more like my language too.

 

[keenzy]

you have an excuse. your blonde. im just stoopid

 

[beightonblade]

McCabes taking it out of one pocket puttin it in another charging a bit of interest and throwing in a few more quid for ground development and working capital, and no doubt his accountants are having a field day with the Inland Revenue