| Just had a letter from Ipswich Town plc in today's post 13:53 - Mar 11 with 880 views | WeWereZombies |
Calm down, calm down, it is just about the AGM.
States that the AGM was held over from last June to take advantage of extended period for filing accounts as well as flexibility given timing and format of AGMs given by Government in light of the pandemic. That extended period is up at the end of March so what sounds like a rubber stamping meeting will happen on 30th March; the letter talks about there not being facilities available to the plc for virtual meetings so a meeting with restricted attendance (two members form a quorum) is planned. But the hope is to convene a further meeting, Covid restrictions permitting, on Monday 2nd August.
The August meeting is to give an opportunity to hear from and question Paul Cook, Lee O'Neill, Stuart Hayton (Club Secretary) and Mark Andrews (Finance Director). REasonably happy that this shows some intent of continuity for shareholders in the plc whatever happens between now and August. |  |
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| Just had a letter from Ipswich Town plc in today's post on 13:55 - Mar 11 with 840 views | footers |
Bollcks, it's secret information about the takeover, isn't it? I KNEW there had to be something going on. Now, tell us what it really said or we'll come north of the border and hold your feet to the fire. |  |
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| Just had a letter from Ipswich Town plc in today's post on 14:07 - Mar 11 with 787 views | WeWereZombies |
| Just had a letter from Ipswich Town plc in today's post on 13:55 - Mar 11 by footers |
Bollcks, it's secret information about the takeover, isn't it? I KNEW there had to be something going on. Now, tell us what it really said or we'll come north of the border and hold your feet to the fire. |
OK, I omitted to mention the paragraph on the second page that directed shareholders towards the statement to fans made by Marcus Evans (as reported on TWTD last week) and drawing attention to Evans never having diluted the holdings of small shareholders.
Happy now? | |
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| Just had a letter from Ipswich Town plc in today's post on 14:24 - Mar 11 with 708 views | north_stand77 |
| Just had a letter from Ipswich Town plc in today's post on 14:07 - Mar 11 by WeWereZombies |
OK, I omitted to mention the paragraph on the second page that directed shareholders towards the statement to fans made by Marcus Evans (as reported on TWTD last week) and drawing attention to Evans never having diluted the holdings of small shareholders.
Happy now? |
Just looked at my email, what did you make of the paragraph emphasising that ME would not be selling unless it was in the best interests of the club?
I know that's been discussed many times before so is that a good or a bad thing that its being reiterated? |  | | |
| Just had a letter from Ipswich Town plc in today's post on 14:39 - Mar 11 with 674 views | WeWereZombies |
| Just had a letter from Ipswich Town plc in today's post on 14:24 - Mar 11 by north_stand77 |
Just looked at my email, what did you make of the paragraph emphasising that ME would not be selling unless it was in the best interests of the club?
I know that's been discussed many times before so is that a good or a bad thing that its being reiterated? |
It does seem to emphasise that the plc has some importance, and I know some on this forum have described it as 'the runt company' in the Marcus Evans Group, or of no significance now.
Looking above the paragraph you have highlighted to the one about the accounts the intercompany loan of £516,00 that was capitalised by the shares we bought maybe an indication of some money that Evans thinks he can get back if the takeover goes through. Mark Andrews does go on then to point out a double counting issue that resulted in an impairment the following year. I am not sure I can follow how the subsequent net liabilities of £479,000 have been restated to assets of £37,000. There again, I may not have all the information necessary to follow that.
So my only take from the letter really is that the intention for Lee O'Neill to still be around in August makes me wonder whether MArcus Evans will be too. | |
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| Just had a letter from Ipswich Town plc in today's post on 14:39 - Mar 11 with 674 views | PhilTWTD |
| Just had a letter from Ipswich Town plc in today's post on 14:24 - Mar 11 by north_stand77 |
Just looked at my email, what did you make of the paragraph emphasising that ME would not be selling unless it was in the best interests of the club?
I know that's been discussed many times before so is that a good or a bad thing that its being reiterated? |
I think it was reiterating his point re not having diluted the 12.5 per cent. From what I've heard, they will still be there after the takeover. |  | | |
| Just had a letter from Ipswich Town plc in today's post on 14:44 - Mar 11 with 650 views | Ryorry |
| Just had a letter from Ipswich Town plc in today's post on 14:24 - Mar 11 by north_stand77 |
Just looked at my email, what did you make of the paragraph emphasising that ME would not be selling unless it was in the best interests of the club?
I know that's been discussed many times before so is that a good or a bad thing that its being reiterated? |
I took it as reassurance that due diligence is being done - however sick of ME's ownership most fans are, there'd be no point in jumping from frying pan to fire.
I wondered what sort of accountant/s we'd been employing when this was mentioned tho! -
" .. the value of that investment in Club was double counted in the accounts of PLC and subsequently impaired during the year ended 30 June 2008. That has now been corrected by a prior year adjustment to increase reserves brought forward and reduce sums due to Club, which means previously reported net liabilities of £479,000 at 30 June 2019 have been restated to net assets of £37,000." |  |
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| Just had a letter from Ipswich Town plc in today's post on 15:06 - Mar 11 with 605 views | BlueWorldOrder |
| Just had a letter from Ipswich Town plc in today's post on 14:44 - Mar 11 by Ryorry |
I took it as reassurance that due diligence is being done - however sick of ME's ownership most fans are, there'd be no point in jumping from frying pan to fire.
I wondered what sort of accountant/s we'd been employing when this was mentioned tho! -
" .. the value of that investment in Club was double counted in the accounts of PLC and subsequently impaired during the year ended 30 June 2008. That has now been corrected by a prior year adjustment to increase reserves brought forward and reduce sums due to Club, which means previously reported net liabilities of £479,000 at 30 June 2019 have been restated to net assets of £37,000." |
We'll be in League Two soon enough if Evans remains. The takeover must happen. We cannot keep settling as supporters for whats happening, Lambert leaving doesn't change whats happened but many have been suckered in again after he was sacked to give Evans a free pass. |  |
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| Just had a letter from Ipswich Town plc in today's post on 15:32 - Mar 11 with 561 views | WeWereZombies |
| Just had a letter from Ipswich Town plc in today's post on 15:06 - Mar 11 by BlueWorldOrder |
We'll be in League Two soon enough if Evans remains. The takeover must happen. We cannot keep settling as supporters for whats happening, Lambert leaving doesn't change whats happened but many have been suckered in again after he was sacked to give Evans a free pass. |
Well thank you for sorting out that accounting confusion, can sleep easy now... | |
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