chesterviabothel wrote:
Mullen103 wrote:
No, they will make it public themselves shortly.
Is that before or after AJ and JN jib them off?
This is interesting CvB, and it gets me thinking about who, of the current owners, is likely to tell someone to sling their hook, and who is likely to want to talk. Obviously, as we all know Jenkins has the most of his personal wealth invested in the club.
From the published accounts at 30 June 2025 you can see he is owed a total of £1,315,750 (£820,750 of that is actually owed to Pioneer, not Jenkins personally). So what are the chances of him actually recovering that currently? I don't think they're good and he has got himself further in than the shareholding he has is actually worth. Remember the Lapping deal? That was valuing the club at £2.8m (£1,260,000 would have secured Lapping's consortium 45% of the shares). Jenkins owns 37.315% of the shares, so working on those numbers his shareholding is worth about £1,044,820, quite a substantial shortfall. Going forward this current year might be fine, but the future doesn't look too good from the point of view of making profits, so there will be a hole to fill, and Jenkins is volunteered.
I would suggest he might think it is in his, and his family's, best interests to try to get what he can from some sort of investment plan and get out, before he has to donate further substantial cash. Of course the other two have nothing to lose at all, they paid £1 each for their holdings and simply don't have the level of cash to push at this that Jenkins has.
For me, Nixon and Pattison can keep telling potential investors to stick it for years, they've nothing to lose, Jenkins can't he has plenty to lose.
Interestingly the Lapping plan valued the shares of the trust at around £710,000 and they were prepared to dilute that value to £280,000, a drop of 60% of their value.