25-05-2019, 02:34
This is interesting from one of the newspaper forums
"I am one of the 430 shareholders in WBA Group ( mostly longstanding and loyal Albion Fans ) . As an experienced Finance Director , I have tried to track the history of this loan made to Peace's private company in 2014 . We were hampered for a long period because our sole director Mark Jenkins only issued us with the June 2015 accounts that were not consolidated with the figures from WBA Football Club , our 100% owned subsidiary , which made the loan . Accordingly it was not disclosed in our accounts until the June 2016 Consolidated version were issued in early 2017 . On inquiry to Martin Goodman , the new CEO , in 2017 , after Peace and Jenkins had left , we discovered that the loan was , in fact , in default but no successful efforts had been made to get it repaid by Peace's company before he sold out . I still do not understand why the loan is still outstanding . It is suggested in the article above that it has attached an advantageous interest rate .
That is of no particular use if the interest is not actually paid . We are also not longer afforded Group AGMs which is totally unreasonable for a company with hundreds of shareholders--99% are loyal fans ! Therefore we cannot easily get these sort of questions answered . It is now imperative that the Board of the Football Club explain WHY this loan has never been repaid . Quite obviously , we need the money as soon as possible .W
"I am one of the 430 shareholders in WBA Group ( mostly longstanding and loyal Albion Fans ) . As an experienced Finance Director , I have tried to track the history of this loan made to Peace's private company in 2014 . We were hampered for a long period because our sole director Mark Jenkins only issued us with the June 2015 accounts that were not consolidated with the figures from WBA Football Club , our 100% owned subsidiary , which made the loan . Accordingly it was not disclosed in our accounts until the June 2016 Consolidated version were issued in early 2017 . On inquiry to Martin Goodman , the new CEO , in 2017 , after Peace and Jenkins had left , we discovered that the loan was , in fact , in default but no successful efforts had been made to get it repaid by Peace's company before he sold out . I still do not understand why the loan is still outstanding . It is suggested in the article above that it has attached an advantageous interest rate .
That is of no particular use if the interest is not actually paid . We are also not longer afforded Group AGMs which is totally unreasonable for a company with hundreds of shareholders--99% are loyal fans ! Therefore we cannot easily get these sort of questions answered . It is now imperative that the Board of the Football Club explain WHY this loan has never been repaid . Quite obviously , we need the money as soon as possible .W