Stadium Rumour

[Paul Cooper]

I tend to agree with Snake.

So whilst KT may publically be suggesting that financially the club is fine without the Stadium, he will I am sure have half an eye on the long term.

With FK, who knows what could happen in 13-14 years time if the club are still beholden to him so far as the ground is concerned?

[Ancient Colin]

Elsewhere:

Bristol Rovers has signed contracts with Sainsbury's and University of the West of England, Bristol, to develop its new £40m stadium.

The League Two football club will sell its current home, Memorial Stadium, to the supermarket, and use the proceeds to fund a new 20,000-seat stadium at UWE's Frenchay campus.

Bristol Rovers will submit plans for the stadium, as well as a flagship club store and gym, to South Gloucestershire council in Q1 2012.

Sainsbury's will submit proposals for a store, offices and a car park at the Memorial Stadium site to Bristol city council.

Nick Higgs, chairman of Bristol Rovers, said: &quotThis agreement is a significant step in securing a sustainable future for the club.&quot

Professor Steve West, vice-chancellor at UWE, said: &quotAt a time when belts are tightening it is good to see this ambition being realised with the investment and growth flowing into the region.&quot

Somewhat hard to believe that the Memorial Ground is worth a significant proportion of that £40m: not clear from this how the ownership structure works. Some more details here.

[Snake]

I wonder if Lenagan selling his stake in his company for £19MM might affect things?

Those shares are now worth approximately £38m having doubled in price since being sold - http://investing.businessweek.com/resea ... ker=WSI:LN

[Kernow Yellow]

I wonder if Lenagan selling his stake in his company for £19MM might affect things?

Those shares are now worth approximately £38m having doubled in price since being sold - http://investing.businessweek.com/resea ... ker=WSI:LN

Really?

The deal was agreed at a premium of 82% to Milton Keynes-based WorkPlace's closing share price of 13.75p yesterday.

Doesn't that imply the shares would actually now be worth about £21m? Or have I misunderstood?

[Snake]

I wonder if Lenagan selling his stake in his company for £19MM might affect things?

Those shares are now worth approximately £38m having doubled in price since being sold - http://investing.businessweek.com/resea ... ker=WSI:LN

Really?

The deal was agreed at a premium of 82% to Milton Keynes-based WorkPlace's closing share price of 13.75p yesterday.

Doesn't that imply the shares would actually now be worth about £21m? Or have I misunderstood?

No idea. Yes, really. This is where we need ‘scoob’ to explain things.

[GodalmingYellow]

I wonder if Lenagan selling his stake in his company for £19MM might affect things?

Those shares are now worth approximately £38m having doubled in price since being sold - http://investing.businessweek.com/resea ... ker=WSI:LN

Really?

The deal was agreed at a premium of 82% to Milton Keynes-based WorkPlace's closing share price of 13.75p yesterday.

Doesn't that imply the shares would actually now be worth about £21m? Or have I misunderstood?

Have you got a link to the ES story? The business week link just shows a graph of the increase in share price from 13.75 to 24.25, which I make a 76% premium assuming we are talking about only the one day increase. Which day did Lenegan sell the shares?

[Kernow Yellow]

Have you got a link to the ES story? The business week link just shows a graph of the increase in share price from 13.75 to 24.25, which I make a 76% premium assuming we are talking about only the one day increase. Which day did Lenegan sell the shares?

See Slappy's post earlier in the topic for link to ES article.

[slappy]

IL's current holding is 68,328,803 shares according to RNS. There has been an offer to buy the company at 25p per share, which has been irrevocably accepted by approx 80% of shareholders.

[Kernow Yellow]

Those shares are now worth approximately £38m having doubled in price since being sold - http://investing.businessweek.com/resea ... ker=WSI:LN

Really?

The deal was agreed at a premium of 82% to Milton Keynes-based WorkPlace's closing share price of 13.75p yesterday.

Doesn't that imply the shares would actually now be worth about £21m? Or have I misunderstood?

No idea. Yes, really. This is where we need ‘scoob’ to explain things.

Well my maths were wrong as I assumed you were correct in saying the share price had doubled. In fact it has risen 76% (according to Business Week), but Lenegan sold his shares at an 82% premium (according to Evening Standard), so his shares would actually now be worth slightly less than he got for them.

So your post was wrong on several levels

I'm not really sure what all this has to do with the price of fish though...

[GodalmingYellow]

OK looking at the ES article, it is probably a little lazy journalism which has led to the 82% premium figure. They have quoted 25p as the agreed share sale price on 9 December against the base price of 13.75p. That gives the 82% premium.

In actual fact, the share price was agreed at 24.25p, giving a premium of 76% per my previous message.

There is no evidence of a change in share price since then, and you wouldn't really expect there to be given that Lloyds Bank now hold 82% of the shares and the remaining 18% are held by the management buyout group, so there is no trading of the shares.