ALK Capital or Farnell/Elkashashy takeover

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alf_resco
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by alf_resco » Wed Feb 08, 2023 7:20 pm

Dated 19/01/23

"Compusory strike-off has been discontinued"

Chester Perry
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Wed Feb 08, 2023 7:39 pm

alf_resco wrote:
Wed Feb 08, 2023 7:20 pm
Dated 19/01/23

"Compusory strike-off has been discontinued"
Not for ALK Capital Limited or Velocity Sports Partners Limited use the link I gave and you will see that clearly

- It is not a huge issue as both these companies have essentially been dormant since the creation of Calder Vale Holdings Limited and Kettering Capital Limited.

That said the media were briefed in early December that this was an administrative oversight that would be rectified in good time

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Fri Feb 10, 2023 2:44 pm

Confirmation Statements with no updates for

Kettering Capital Limited has been filed
https://find-and-update.company-informa ... ng-history

ALK Capital Limited has been filed (though they really should have been struck off by now) which kind of signals that Pace and co want to jeep it around for something
https://find-and-update.company-informa ... ng-history

awaiting the same for Calder Vale Holdings Limited and Velocity Sports Partners Limited

There is is also the small matter of the fact we still haven't seen the first set of accounts for all of these entities

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Fri Feb 10, 2023 3:36 pm

Chester Perry wrote:
Fri Feb 10, 2023 2:44 pm
Confirmation Statements with no updates for

Kettering Capital Limited has been filed
https://find-and-update.company-informa ... ng-history

ALK Capital Limited has been filed (though they really should have been struck off by now) which kind of signals that Pace and co want to jeep it around for something
https://find-and-update.company-informa ... ng-history

awaiting the same for Calder Vale Holdings Limited and Velocity Sports Partners Limited

There is is also the small matter of the fact we still haven't seen the first set of accounts for all of these entities
Confirmation Statements with no updates for Calder Vale Holdings Limited has been filed
https://find-and-update.company-informa ... ng-history

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by RVclaret » Sat Feb 11, 2023 7:33 am

Alex James has wrote an updated piece on this

https://www.lancs.live/sport/football/f ... e-26206840

With a new quote from an ‘ALK Capital LLC’ spokesman

“There was an administrative error which has been resolved. We are continuing to work with Companies House to complete the required process. We have no concerns and this will be completed in due course."

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Sat Feb 11, 2023 10:12 am

RVclaret wrote:
Sat Feb 11, 2023 7:33 am
Alex James has wrote an updated piece on this

https://www.lancs.live/sport/football/f ... e-26206840

With a new quote from an ‘ALK Capital LLC’ spokesman

“There was an administrative error which has been resolved. We are continuing to work with Companies House to complete the required process. We have no concerns and this will be completed in due course."
It appears that Alex James has learnt a little of the ownership structure of BFC when he wrote his latest report. His first paragraphs report on ALK Capital Limited and Velocity Sports Partners Limited without indicating that neither of these two companies are involved in the chain of ownership of the football club.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sat Feb 11, 2023 10:35 am

Well Alex you are factually incorrect about how much of the club is owned by Calder Vale Holdings, did you just look at the company details page on the club website? That has been out of date since mid-March last year when the transaction for the shares sold by the small shareholders was concluded. Perhaps you should asked them why they haven't complied with EFL and Premier League regulations in updating that statement, which itself clearly states is there because of those regulations

https://www.burnleyfootballclub.com/company-details

So how much does CVHL own you may ask?

A confirmation statement from Burnley FC Holdings Company released November 4 2022 showed that less than half (3,255) of the 7,578 shares open to the offer ended up being transferred, giving the transaction a total value of £5,330,245.00 and increasing the CVHL shareholding to 106,107 shares or 86.63% of the 122,478 allotted shares in the Holding Company.

I was surprised that no one in the local media though that wasn't interesting enough to write about - given all the factual evidence there is to confirm it and that so many chose not to sell given the previously unimaginable value placed on these shares. You could also ask them why the trading platform for these shares promised to be up and ready by the end of October 2021 has still not gone live, we know from this thread that there are shareholders who want to trade shares as a result of personal loss.

As for 'administrative error' (sic) - that has been done to death on this thread, lets just say in regards to ALK Capital Limited and Velocity Sports Partners Limited - we can accept it, given they appear to be essentially dormant entities - though it should not take so long to produce the outstanding documentation for filings in their case.

The issues around the accounts of Calder Vale Holdings Limited and Kettering Capital Limited, particularly given extensions for the filings of Accounts were sought and granted before their initial due dates in the summer of 2022 are much less clear. The fact that they have had to show could cause for the late filings in these cases also suggests there is reason to believe more than a simple administrative error is at play here.

So thanks for reporting but there are still questions to be asked including about the outflow of cash from the club, though I accept there is less factual public domain evidence to support those queries, which may well take us back to those late filings at KCL and CVHL.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by IanMcL » Sat Feb 11, 2023 12:43 pm

The directors of these companies have brought Burnley into disrepute and have, despite time, as yet failed to rectify their failings. Incompetence or skulduggery?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Goalposts » Sat Feb 11, 2023 12:48 pm

ALK Capital, owners of Burnley Football Club, remain calm despite still facing a Companies House bid to shut down a UK entity they own as a company two months on from saying the issue would be 'resolved with immediacy'. It has not yet been done

The American firm completed its takeover of Burnley in December 2020 via their business sports investment arm Velocity Sports Limited (VSL). Velocity Sports Partners Limited (VSPL), another UK entity owned by Burnley's owners, has also been served with a strike off notice which was issued on January 31.

ALK and VSPL have accounts nearly eight months overdue and the latter had a confirmation statement that should have been filed by November 9, according to Companies House. ALK Capital filed their confirmation statement on February 10 - three months late.

Two other business, who effectively own Burnley FC due to the structure of the club, - Kettering Capital Limited and Calder Vale Holdings Limited - were also issued with strike offs but those have now been discontinued after cause was shown why the companies should not be struck off. But both businesses have accounts more than three months overdue while Calder Vale Holdings' has an overdue confirmation statement that should have been filed by January 20.

Sources close to the Burnley ownership say the ALK Capital and VSPL businesses on Companies House are not part of the structure of Burnley FC, but were set up during the takeover in case they were needed, with American entities ALK Capital LLC and Velocity Sports Partners LLC the ultimate owners of the club.

The ownership of Burnley FC is complex. The club is owned by Burnley FC Holdings Limited. That in turn is 83.97 per cent owned by Calder Vale Holdings with the rest made up of individual shareholders. Calder Vale Holdings is owned by Velocity Sports Limited, a company incorporated in Jersey and so not under the Companies House umbrella, via wholly owned subsidiary Kettering Capital. Velocity Sports Limited is owned by US entities ALK Capital LLC and Velocity Sports Partners LLC.

A spokesman for ALK Capital LLC said of the strike of notices being resolved for Calder Vale Holdings and Kettering Capital: "There was an administrative error which has been resolved. We are continuing to work with Companies House to complete the required process. We have no concerns and this will be completed in due course."

A compulsory strike off means a company is removed from the Companies House Register and so, legally, no longer exists, essentially indicating ALK and Velocity Sports Partners will be wound up. It is often a result of the failure to file accounts on time. Resolving that within a specified time frame can result in the strike off action being discontinued. Other reasons for a compulsory strike off can be failing to conform to legal requirements, failure to submit an annual confirmation statement, the company ceasing trading or no directors being appointed.


Before striking a company off, two formal letters and a notice must be sent to the company's registered office to inquire whether it is still in operation. If no communication is forthcoming, then a strike off notice will be issued.

ALK Capital LLC said in December, when first contacted by Lancs Live over the ALK strike off issue, that it was an 'admin error' and made no mention of the corresponding Stateside firms.

The statement at the time said: “This is an administrative error that has come to our attention and is being addressed and resolved with immediacy."

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Swizzlestick » Sat Feb 11, 2023 1:08 pm

What’s wrong with ‘administrative error’ to get the ‘sic’ treatment?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Quickenthetempo » Sat Feb 11, 2023 1:36 pm

I think them clowns that messed the Blackburn deadline day signings up, must work for us.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sat Feb 11, 2023 1:41 pm

IanMcL wrote:
Sat Feb 11, 2023 12:43 pm
The directors of these companies have brought Burnley into disrepute and have, despite time, as yet failed to rectify their failings. Incompetence or skulduggery?
Not really, even with all my whinging about it

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sat Feb 11, 2023 1:43 pm

Swizzlestick wrote:
Sat Feb 11, 2023 1:08 pm
What’s wrong with ‘administrative error’ to get the ‘sic’ treatment?
explained clearly within the post

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by IanMcL » Sat Feb 11, 2023 2:16 pm

Chester Perry wrote:
Sat Feb 11, 2023 1:41 pm
Not really, even with all my whinging about it
Depends where you set the bar, I suppose. The adverse publicity, which makes them look like they have disdain for English law, is enough in the general population. There must also be risk with HMRC.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sat Feb 11, 2023 6:34 pm

ALK Capital Limited Compulsory Strike off Notice has now been discontinued

https://find-and-update.company-informa ... ng-history

awaiting the loading of the document for the reasoning given we are still awaiting the accounts due 8 months ago

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Sat Feb 11, 2023 8:07 pm

IanMcL wrote:
Sat Feb 11, 2023 2:16 pm
Depends where you set the bar, I suppose. The adverse publicity, which makes them look like they have disdain for English law, is enough in the general population. There must also be risk with HMRC.
I'd be surprised if more than a dozen people really care.

There's been no suggestion of issues with HMRC.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Sat Feb 11, 2023 8:14 pm

Chester Perry wrote:
Sat Feb 11, 2023 1:43 pm
explained clearly within the post
To be honest, the longer it's gone on the more possible that explanation seems to me (given the strike offs were discontinued a while ago)

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Nori1958 » Sat Feb 11, 2023 8:16 pm

aggi wrote:
Sat Feb 11, 2023 8:07 pm
I'd be surprised if more than a dozen people really care.

There's been no suggestion of issues with HMRC.
Definitely less than a dozen
I really don't understand Burnley fans trying to highlight these issues, which no doubt are being dealt with...... Do they actually want the club to fail?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by boatshed bill » Sat Feb 11, 2023 8:17 pm

aggi wrote:
Sat Feb 11, 2023 8:07 pm
I'd be surprised if more than a dozen people really care.

I'd be surprised if more than a dozen people (on here) understand it all :D

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Sat Feb 11, 2023 9:10 pm

Nori1958 wrote:
Sat Feb 11, 2023 8:16 pm
Definitely less than a dozen
I really don't understand Burnley fans trying to highlight these issues, which no doubt are being dealt with...... Do they actually want the club to fail?
Not sure how it's going to cause the club to fail. Companies aren't on utc to check how credit worthy Burnley are, they have different better sources.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Sat Feb 11, 2023 11:49 pm

aggi wrote:
Sat Feb 11, 2023 9:10 pm
Not sure how it's going to cause the club to fail. Companies aren't on utc to check how credit worthy Burnley are, they have different better sources.
It wouldn't do the Lancs Live journo any harm to research some of his stuff on this thread. He could even ask one or two who post on here to review and correct what he's drafted before publication.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Sat Feb 11, 2023 11:51 pm

Paul Waine wrote:
Sat Feb 11, 2023 11:49 pm
It wouldn't do the Lancs Live journo any harm to research some of his stuff on this thread. He could even ask one or two who post on here to review and correct what he's drafted before publication.
He’s off to cover United now so probably couldn’t be bothered learning the complex’s structure Paul ;) Can’t say I can either :lol:
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Sat Feb 11, 2023 11:51 pm

Chester Perry wrote:
Sat Feb 11, 2023 6:34 pm
ALK Capital Limited Compulsory Strike off Notice has now been discontinued

https://find-and-update.company-informa ... ng-history

awaiting the loading of the document for the reasoning given we are still awaiting the accounts due 8 months ago
Do you expect it to say any more than the notice on Kettering Capital says: "Cause has been shown why the above company should not be struck off and accordingly the Registrar is taking no further action"?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sun Feb 12, 2023 12:05 pm

aggi wrote:
Sat Feb 11, 2023 8:14 pm
To be honest, the longer it's gone on the more possible that explanation seems to me (given the strike offs were discontinued a while ago)
If it is true then the statement of post date events should effectively cover everything through to the present day - that is more than the whole period of the 2nd set of Accounts, which should run through to:

September 30 2022 for ALK Capital Limited
September 30 2022 for Velocity Sports Partners Limited
October 30 2022 for Calder Vale Holdings Limited
October 31 2022 for Kettering Capital Limited

In which case why not file both the first and 2nd set of accounts for all these entities at the same time as they should reveal nothing that is drastically new.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Sun Feb 12, 2023 12:06 pm

Chester Perry wrote:
Sun Feb 12, 2023 12:05 pm
If it is true then the statement of post date events should effectively cover everything through to the present day - that is more than the whole period of the 2nd set of Accounts, which should run through to:

September 30 2022 for ALK Capital Limited
September 30 2022 for Velocity Sports Partners Limited
October 30 2022 for Calder Vale Holdings Limited
October 31 2022 for Kettering Capital Limited

In which case why not file both the first and 2nd set of accounts for all these entities at the same time as they should reveal nothing that is drastically new.
Not necessarily. The accounts may have been signed off a while ago. That dictates post balance sheet events, not when they were filed

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sun Feb 12, 2023 12:16 pm

Paul Waine wrote:
Sat Feb 11, 2023 11:51 pm
Do you expect it to say any more than the notice on Kettering Capital says: "Cause has been shown why the above company should not be struck off and accordingly the Registrar is taking no further action"?
That is just it Paul, I do not know what to expect, therefore I left my statement open.

Are you suggesting that there is a single universal boilerplate in these instances - I, perhaps naively, thought there would be a multiple selection generic statements to cover a range of possible situations, though it would not be a surprise if it was exactly the same.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sun Feb 12, 2023 12:19 pm

aggi wrote:
Sun Feb 12, 2023 12:06 pm
Not necessarily. The accounts may have been signed off a while ago. That dictates post balance sheet events, not when they were filed
Surely the administrative error would mean that the accounts were not signed off - or they would have been filed quickly after the letter from Companies House was received, and as we know they were not - such is the basis of my thinking in the previous post

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfcjg » Sun Feb 12, 2023 12:20 pm

In a nutshell should we be worried?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Swizzlestick » Sun Feb 12, 2023 12:21 pm

bfcjg wrote:
Sun Feb 12, 2023 12:20 pm
In a nutshell should we be worried?
No.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sun Feb 12, 2023 12:41 pm

bfcjg wrote:
Sun Feb 12, 2023 12:20 pm
In a nutshell should we be worried?
Not really because we think that will be included is already known and while it is never nice to know money is being taken out of your club, for now it has not having a detrimental effect on the pitch (people may have a different view of last season, but the vast majority will trade that for this season).

There could of course be surprises, and those could even show what I have been posting is absolute nonsense and that they have actually been paying for shares from funding external to the club - in which case a tin hat for myself would not be enough and a lot of humble pie would have to be eaten by myself in particular (though I would be very happy to in such a scenario)
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sun Feb 12, 2023 12:50 pm

Paul Waine wrote:
Sat Feb 11, 2023 11:51 pm
Do you expect it to say any more than the notice on Kettering Capital says: "Cause has been shown why the above company should not be struck off and accordingly the Registrar is taking no further action"?
It has now been posted at Companies House - exactly the same statement
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Mon Feb 13, 2023 10:22 am

Latest update on Calder Vale Holdings, Burnley FC Holdings and Burnley Football & Athletic Company seems interesting:

"08 Feb 2023 Satisfaction of charge 129196890001 in full
This document is being processed and will be available in 10 days."


That charge is the MSD loan. There isn't anything showing a new charge being registered.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Stalbansclaret » Mon Feb 13, 2023 11:39 am

The above is quite big news isn’t it ? Appears to indicate the big loan (didn’t we still have c£50m outstanding?) has been cleared , presumably by being refinanced elsewhere ? Will be interesting to see if a new legal charge appears to tell us who the new lender is if so. Or have I got this wrong ?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 11:41 am

aggi wrote:
Mon Feb 13, 2023 10:22 am
Latest update on Calder Vale Holdings, Burnley FC Holdings and Burnley Football & Athletic Company seems interesting:

"08 Feb 2023 Satisfaction of charge 129196890001 in full
This document is being processed and will be available in 10 days."


That charge is the MSD loan. There isn't anything showing a new charge being registered.
That is very interesting Aggi.

Is that the only entity that had a charge against it? I really can’t keep up with all these different company names/corporate structure.

If so, the only conclusions you can draw are that it’s been refinanced and a new charge will be posted very imminently? Or it’s been paid off?! Just imagine. :o

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 11:44 am

Stalbansclaret wrote:
Mon Feb 13, 2023 11:39 am
The above is quite big news isn’t it ? Appears to indicate the big loan (didn’t we still have c£50m outstanding?) has been cleared , presumably by being refinanced elsewhere ? Will be interesting to see if a new legal charge appears to tell us who the new lender is if so. Or have I got this wrong ?
The debt “only” stood at £32m, which I’m comfortable with given our league position, but if repaid it does beg the question how & you can only imagine that would be via external investment?

On the face of it, it’s massive news, but as you say - other possibilities could yet to play out that mean we probably shouldn’t get excited…

Although I am a bit!

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Nori1958 » Mon Feb 13, 2023 12:06 pm

Doom and gloom will be along soon to pour water on the flames of the optimistic posts

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 12:08 pm

Nori1958 wrote:
Mon Feb 13, 2023 12:06 pm
Doom and gloom will be along soon to pour water on the flames of the optimistic posts
Surprised this isn’t getting more discussion. It says the charge has been satisfied in full, which at face value is VERY positive.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by RVclaret » Mon Feb 13, 2023 12:11 pm

NewClaret wrote:
Mon Feb 13, 2023 12:08 pm
Surprised this isn’t getting more discussion. It says the charge has been satisfied in full, which at face value is VERY positive.
Guess it’s a wait and see re. potential refinancing?

Wouldn’t the charge being settled be on MSD’s site, where they are all listed, can’t find the link for it now.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 12:24 pm

RVclaret wrote:
Mon Feb 13, 2023 12:11 pm
Guess it’s a wait and see re. potential refinancing?

Wouldn’t the charge being settled be on MSD’s site, where they are all listed, can’t find the link for it now.
True. I think someone said that any new charges would be processed very quickly (given lenders would need them to be registered for their loan to be secured). So hopefully we’ll know soon.

I’m not sure how this ties in with the previously reported repayment of the MSD loan though. Hopefully CP will be along soon to share some theories…

Either way, we know something is happening with our financing.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Big Vinny K » Mon Feb 13, 2023 12:29 pm

Does sound like it’s refinancing rather than repayment. There could be a bit of a delay between showing any new charges registered.
We should find out either way pretty soon

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by arise_sir_charge » Mon Feb 13, 2023 12:42 pm

Big Vinny K wrote:
Mon Feb 13, 2023 12:29 pm
Does sound like it’s refinancing rather than repayment. There could be a bit of a delay between showing any new charges registered.
We should find out either way pretty soon
What makes it sound like that is the case?

Big Vinny K
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Big Vinny K » Mon Feb 13, 2023 12:44 pm

arise_sir_charge wrote:
Mon Feb 13, 2023 12:42 pm
What makes it sound like that is the case?
Only that not sure how we we would repay it right now without refinancing.

NewClaret
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 12:56 pm

Big Vinny K wrote:
Mon Feb 13, 2023 12:44 pm
Only that not sure how we we would repay it right now without refinancing.
And there were previous reports suggesting that we were looking at refinancing?

RVclaret
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by RVclaret » Mon Feb 13, 2023 12:56 pm

RVclaret wrote:
Mon Feb 13, 2023 12:11 pm
Guess it’s a wait and see re. potential refinancing?

Wouldn’t the charge being settled be on MSD’s site, where they are all listed, can’t find the link for it now.
This was what I was referring to

https://tisegroup.com/market/companies/8061

Pretty sure ours isn’t on there anymore (was 8% if I remember correctly?), or has that been the case for a while?

aggi
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Mon Feb 13, 2023 1:12 pm

RVclaret wrote:
Mon Feb 13, 2023 12:11 pm
Guess it’s a wait and see re. potential refinancing?

Wouldn’t the charge being settled be on MSD’s site, where they are all listed, can’t find the link for it now.
There was this application to cancel it (we assume this was the BFC loan) back in November https://tisegroup.com/market/companies/8061 and there was a bit of speculation about this at the time.

Personally I'd assume refinancing (particularly given our transfer dealing in January). Can't imagine that a significant investment wouldn't have been publicised and, to be honest, I don't think a priority for investment would have been paying off the loan.
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Chester Perry
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Mon Feb 13, 2023 1:22 pm

aggi wrote:
Mon Feb 13, 2023 1:12 pm
There was this application to cancel it (we assume this was the BFC loan) back in November https://tisegroup.com/market/companies/8061 and there was a bit of speculation about this at the time.

Personally I'd assume refinancing (particularly given our transfer dealing in January). Can't imagine that a significant investment wouldn't have been publicised and, to be honest, I don't think a priority for investment would have been paying off the loan.
Yep, said as much in my last piece for the London Clarets a few weeks back. the next few days should make things a bit clearer

Chester Perry
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Mon Feb 13, 2023 1:28 pm

Chester Perry wrote:
Mon Feb 13, 2023 1:22 pm
Yep, said as much in my last piece for the London Clarets a few weeks back. the next few days should make things a bit clearer
Should have added that there is still nothing about the same charge at Kettering Capital Limited but it should follow shortly

Paul Waine
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Mon Feb 13, 2023 1:33 pm

Just looked at Companies House: the MSD charge is recorded as satisfied on the filings of each of BF&ACL, BFCHL and Calder Vale Holdings Limited. Companies House records show this new filing was recorded on 8th February - but weren't showing on Companies House filing until today, 13th Feb. We know this because several of us looked at the Confirmation Statement dated 10th Feb on Calder Vale on Friday/over the weekend - and the Satisfaction of Charge, even though dated 8 Feb, wasn't shown earlier.

At the present time (13:30 Monday 13th) the Satisfaction of Charge is not shown on Kettering Capital Limited. (The Registration of Charge is shown on Kettering on 24 Dec 2020).

NewClaret
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 1:35 pm

Chester Perry wrote:
Mon Feb 13, 2023 1:22 pm
Yep, said as much in my last piece for the London Clarets a few weeks back. the next few days should make things a bit clearer
Help me out here.

So in November, MSD repaid the money they had borrowed to give to us? Potentially pointing to MSD restructuring their affairs internally?

Then last Wednesday the charges on our debt are satisfied. Meaning either

1. we’ve repaid the debts somehow, or more likely,
2. refinanced with someone else - since a refi with MSD wouldn’t necessitate a charge to be changed.

And given we’re unlikely to get new lending without providing security, we’ll know more about 2 - to whom & how much - very quickly??

NewClaret
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Mon Feb 13, 2023 1:37 pm

Chester Perry wrote:
Mon Feb 13, 2023 1:28 pm
Should have added that there is still nothing about the same charge at Kettering Capital Limited but it should follow shortly
What makes you say it should follow, CP? Could it not just be that the charge will remain on one entity?

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