Gringo Posted August 7, 2006 Share Posted August 7, 2006 But if the takeover happens before the 31.8.06 doesn't the deal with the Serpentine fall through? There was some copout clause but I thought it had to be activated before the egm. Richard, I'm confused regarding how capital gains tax applies to company assets. And I'm sure assets get revalued all the time; we wouldn't have wanted to revalue it before because the increase in value would have been taxable? Link to comment Share on other sites More sharing options...
RichardCanning Posted August 7, 2006 Share Posted August 7, 2006 Richard, I'm confused regarding how capital gains tax applies to company assets. And I'm sure assets get revalued all the time; we wouldn't have wanted to revalue it before because the increase in value would have been taxable? Companies don't pay capital gains tax as such, it is part of the corporation tax computation as a whole and thus if the losses around it are great enough it should be lost amidst them. Unsure as to what the land was initially valued at although am fairly sure the losses villa are carrying will cover the gain made on it Link to comment Share on other sites More sharing options...
runetune Posted August 7, 2006 Share Posted August 7, 2006 While this isn't something that gives us anything more than we already know - I have highlighted one comment which I thought was interesting and didn't realise the BBC were commenting on this as absolute fact. http://tinyurl.com/mvw26 is the link to the story. Pair provide O'Neill with boost Barryand Mellberg are happy to stay at Villa Park Gareth Barry and Olof Mellberg will give new boss Martin O'Neill a boost by committing themselves to Aston Villa. Defender Mellberg and midfielder Barry were believed to be disillusioned with life under old manager David O'Leary. Barry, 25, said: "Everyone is going to be flying in 100% and committing to the club again," while sources close to Mellberg, 28, say he is happy to stay. O'Neill may also be boosted by a sizeable transfer fund - if American Randy Lerner's takeover bid succeeds. Villa rejected a bid from Portsmouth for England international Barry, who has made it clear he is keen to be part of the new regime at Villa Park. Barry said: "There were players getting a bit frustrated but this is a clean start and an opportunity to start again. "Obviously, Martin was the number one target and he was the best man out there for the job. "We are all delighted the club got the best man and we are looking forward to working under him. "I'm looking forward to seeing what ideas he has got, the way he trains players and the way he thinks. "The fans are happy with this appointment and the players are happy too." Meanwhile, Villa are bracing themselves for a renewed takeover bid from billionaire Lerner within the next 48 hours. O'Neill is in close contact with Lerner, who owns NFL franchise Cleveland Browns, and the former Celtic boss spent two successive evenings with the American when he held talks with Villa owner Doug Ellis. Lerner has nosed ahead as favourite of the four groups looking to take over Villa and is expected to make a formal bid to Ellis by Wednesday. If that is accepted, Lerner's formal installation in September would provide O'Neill with the financial clout to try to make Villa a force in the Premiership. Link to comment Share on other sites More sharing options...
blandy Posted August 7, 2006 Moderator Share Posted August 7, 2006 For the accountants amongst us: Q: Could the serpentine be revalued in this years accounts, to show a £7m increase in value? Q: As an asset would the tax liable be able to be written off against this years losses, whereas next year AVFC could be profitable? Any lawyers?: Q: A normal property deal if you fail to complete you end up paying 10% penalty or similar or something like that. Is that law of the land or varied by contract. So could a new owner come in and say "sale cancelled, here's £700k now do one" ? Good questions, Gringo. I'm neither an accountant, nor a lawyer, but I'll have a guess Yes. Assets aren't taxed individually, are they? They could claim its value has gone up from 100K to 7 mill (or 5.8) as they have evidence of buyer wishing to pay that for it. Other assets have devalued. It's not the law of the land, it would be a contactual situation. Do I win a prize? Link to comment Share on other sites More sharing options...
Mattansell Posted August 8, 2006 Share Posted August 8, 2006 From Sporting Life (http://tinyurl.com/helbu) ELLIS IN TAKEOVER TALKS Aston Villa chairman Doug Ellis has confirmed talks are ongoing regarding a possible takeover of the club. Four consortiums have been linked with a takeover with the American billionaire Randy Lerner favourite to become the midlands club's new owner. In a statement to shareholders released on the Stock Exchange, Ellis said: "Extensive discussions are ongoing to determine whether a formal offer for the issued share capital of the company will be forthcoming." Last week Ellis appointed Martin O'Neill as the club's new manager following the departure of David O'Leary. Preliminary results for the year ending May 31, 2006 reveal Villa made an £8.2million loss before tax in contrast to a £3million profit in the same period the previous year. Revenue dropped from £51.6million to £49million with attendances down 8.7%. Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted August 8, 2006 Share Posted August 8, 2006 Gah. I want to see something new today, please......... Link to comment Share on other sites More sharing options...
OutByEaster? Posted August 8, 2006 Moderator Share Posted August 8, 2006 Hmmm. The club said they were going to have a board meeting yesterday to go over the annual figures for release. Now they've released the annual figures. That's got a horrible feeling of business as usual about it. Can someone tell me otherwise please. I'm increasingly feeling like this is going to take another 6 months or so. Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted August 8, 2006 Share Posted August 8, 2006 Hmmm. The club said they were going to have a board meeting yesterday to go over the annual figures for release. Now they've released the annual figures. That's got a horrible feeling of business as usual about it. Can someone tell me otherwise please. What would you rather them do? I know it's a fairly unusual time but the club does still have a rsponsibility to shareholders. Link to comment Share on other sites More sharing options...
OutByEaster? Posted August 8, 2006 Moderator Share Posted August 8, 2006 True enough, so why so late ? Link to comment Share on other sites More sharing options...
OutByEaster? Posted August 8, 2006 Moderator Share Posted August 8, 2006 Actually scrap that question, I think the answers pretty obvious. Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted August 8, 2006 Share Posted August 8, 2006 True enough, so why so late ? Other stuff going on. Link to comment Share on other sites More sharing options...
villafan306 Posted August 8, 2006 Share Posted August 8, 2006 Shareholders will be aware that the Company has been in an official Offer Period since 19 September 2005, when the AVIL consortium made an initial approach to the Company. As previously announced, the Board appointed Rothschild as an adviser to examine the AVIL proposal and other strategic ownership options. There have been a number of approaches since from various parties in the UK and overseas. Extensive discussions are ongoing to determine whether a formal offer for the issued share capital of the Company will be forthcoming. There is no certainty that any of these discussions will lead to an offer being made but shareholders will be updated in due course. Link to comment Share on other sites More sharing options...
lee_av Posted August 8, 2006 Share Posted August 8, 2006 Hindsight tells us the we might be on the verge of a better package now but at the time that approach was handled appallingly. He took the Comers for chancers they were and that they wanted nothing more than the land. He called their bluff and they fell away into the background. Hopefully he won't balls this up now we have some "real" players. Link to comment Share on other sites More sharing options...
icklevillan Posted August 8, 2006 Share Posted August 8, 2006 I don't think this is the done deal people think just yet. There's very very very low liquidity in this stock, thats usually a sign that people are uncertain. It means that those holding the stock don't want to sell just in case, but no-one wants to pump their money in as they're not sure its going to happen. If the market's as uncertain as it is (6 trades in all of yesterday), its going to take more than a few Bill Howell reports to convince me this is happening. Link to comment Share on other sites More sharing options...
David-Copenhagen Posted August 8, 2006 Share Posted August 8, 2006 The annual figiures were due two weeks ago ..... For the accountants amongst us: Q: Could the serpentine be revalued in this years accounts, to show a £7m increase in value? Q: As an asset would the tax liable be able to be written off against this years losses, whereas next year AVFC could be profitable? Any lawyers?: Q: A normal property deal if you fail to complete you end up paying 10% penalty or similar or something like that. Is that law of the land or varied by contract. So could a new owner come in and say "sale cancelled, here's £700k now do one" ? I am a lawyer, but not an English one as you might guess :-). I would think that the 10% clause is a consumer protection and will not apply between professionals, that is the kind of legislation we have in Scandinavia anyway. Link to comment Share on other sites More sharing options...
villafan306 Posted August 8, 2006 Share Posted August 8, 2006 As a second year law student my knowledge of these matters is limited...OK non existent. But I would suggest it would depend entirely on the terms of the contract. Link to comment Share on other sites More sharing options...
PB Posted August 8, 2006 Share Posted August 8, 2006 I don't think this is the done deal people think just yet. There's very very very low liquidity in this stock, thats usually a sign that people are uncertain. It means that those holding the stock don't want to sell just in case, but no-one wants to pump their money in as they're not sure its going to happen. If the market's as uncertain as it is (6 trades in all of yesterday), its going to take more than a few Bill Howell reports to convince me this is happening. there has always been low liquidity of Villa stock. this is becasue there arent any villa shares around. The vast majority are tied up in 2 major shareholders and almost all the others with small supporter/shareholders. There are practically no Villa shares held by insurance companies and such as you would typically find with a PLC as Petchey bought all these out some time ago. As a result, there is never any large trade of Villa shares on the market as these shares just dont come up for sale. As for the takeover, well its up to you not to believe it I guess, but I think that you are missing the blindingly obvious. Your choice. Link to comment Share on other sites More sharing options...
pauliewalnuts Posted August 8, 2006 Share Posted August 8, 2006 there has always been low liquidity of Villa stock. this is becasue there arent any villa shares around. The vast majority are tied up in 2 major shareholders and almost all the others with small supporter/shareholders. There are practically no Villa shares held by insurance companies and such as you would typically find with a PLC as Petchey bought all these out some time ago. As a result, there is never any large trade of Villa shares on the market as these shares just dont come up for sale.. I thought HDE had 38% and Petchey 20%? Hardly the vast majority. Link to comment Share on other sites More sharing options...
jimmygreaves Posted August 8, 2006 Share Posted August 8, 2006 Hindsight tells us the we might be on the verge of a better package now but at the time that approach was handled appallingly. He took the Comers for chancers they were and that they wanted nothing more than the land. He called their bluff and they fell away into the background. Hopefully he won't balls this up now we have some "real" players. Blimey, yes well done Doug skillfully avoided those Irish chancers and single handedly bagged O'Neill to boot, what a chairman you are.... :roll: Link to comment Share on other sites More sharing options...
bickster Posted August 8, 2006 Moderator Share Posted August 8, 2006 there has always been low liquidity of Villa stock. this is becasue there arent any villa shares around. The vast majority are tied up in 2 major shareholders and almost all the others with small supporter/shareholders. There are practically no Villa shares held by insurance companies and such as you would typically find with a PLC as Petchey bought all these out some time ago. As a result, there is never any large trade of Villa shares on the market as these shares just dont come up for sale.. I thought HDE had 38% and Petchey 20%? Hardly the vast majority. When you factor in that at least 10% of the shareholding is deemed to be "missing", it is quite a lot tbh Link to comment Share on other sites More sharing options...
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