Club announcement

[Cookie]

From www.margate-fc.com:

 

The Directors have called an urgent Press Conference for Wednesday 10th August @

12 noon in the Social Club @ Hartsdown Park to announce the outcome of the

Administrators, having now held its Creditors meeting.

 

The Directors have also been notified today that the stadium inspection

requirements to meet the Ryman League specification will now take place @ 10am

on Saturday 13th August.

 

Up the gate!

 

***

www.margate-fc.com and www.margatefc.co.uk - mfc:online

 

Saturday 13th august

1) Inspection by Ryman League (10.am)

2) Official club photo shoot (12 midday)

3) Friendly v Ramsgate at Southwood (3.pm)

[jkmaskell]

Are fans allowed to attend?

[Cookie]

No's: 2 & 3 definately but no:1 not sure though having got the announcement cant see why not as reading betwen the lines it seems we ARE invited to attend. Have to get confirmation on that 1 though!

[jkmaskell]

<img src="/forum/images/graemlins/doah.gif" alt="" /> Sorry, I meant the press conference. Im sure the Press would like to know the reaction from the fans.

[Cookie]

Depends on the result James.

[jkmaskell]

It would be nice to know if fans are allowed to come to the clubhouse and watch the Conference on Wednesday though. Perhaps you could find out for us please?

[Cookie]

Will be seeing KP tomorrow.

Can you not delve into the Finchley courthouse (or wherever it was held) files and get some info, what with the new laws concerning freedom to view or whatever its called. James its over to you! You are pretty good at doing this kind of thing!

[Guest]

I don't like the use of the word URGENT. Smells ominous to me. Surely we are not going to lose everything now after coming this far! <img src="/forum/images/graemlins/confused.gif" alt="" />

[jkmaskell]

Cheers cookie.

[MargateFan]

Don't jump to conclusions, anon, it could be that the club do not want to dilute the effect of very good news, and are taking the opportunity to get as much publicity for the club as possible.

Well, we'll know on Wednesday.

[Cookie]

I see what you mean annon about the "urgent" bit. Would this, could this, how does this, affect our club if it was a negative reply? James our lawyer(no micky taking intended) its again over to you to summise & give us your honest opinion.

Lets all stay positive on this one though if we can,and June does make a good point there.

[Guest]

Agree about the word urgent......does sound a bit ominous. However no more urgent than some of the other meetings we have had to wait and wonder at.

Just another notch on the tension-ometer!!!!

 

Will delay my travel plans for 20th until I know...

[Graeme H]

That was me again by the way - I keep forgetting to log on.

It certainly is never easy being a Gate fan - there always seems to be one more hurdle to get over.

[seasidesteve]

it cant be that urgent or it would have been called today

[jkmaskell]

After a second night of less than brilliant sleep, Ive come to a conclusion about the CVA. Firstly I dont want to get peoples hopes up here. I dont really know for certain which way itll go so this is more of an educated guess.

 

The good things for Margate right now in relation to the CVA...

 

-The stadium is nearly complete with an inspection on Saturday. This leads to the question, why have an inspection if the CVA is refused? Both were announced in the same message. Thats a good sign.

-Sponsorship has worked out well with programme advertising selling out and from what Ive heard Sponsorship boards doing well.

-KP has been spending his own money in paying off the debts, showing the money is there.

-The carnival was a complete success. Therefore people are going to know the club are back. We got a mention in the Thanet Times. Publicity will bring the people in. Its a proven fact. Advertising works.

-Margates main sponsor has plenty of money and can help to support the club. If Active Signs wasnt here, I wouldnt be so sure about the result.

 

The IRs role in this is to get the best deal it can get. The choice is pretty simple, either do a deal where it takes a certain number of pence per pound of debt (eg 10p per pound owed) or to refuse the deal, which could lead to the club folding and the IR taking what it can.

 

Other teams which have faced CVAs have generally been given the go ahead for them since the IR is guaranteeing a certain amount of money back. The IR isnt there to simply close down businesses.

 

As long as the proposal is sound itll be accepted. Margates not even close to being in as bad a position as other CVA teams for example Hornchurch, Cambridge, Hereford, Grantham, Wimbledon, Motherwell, Exeter or Darlington. Exeter survived and that was extremely complicated.

 

I reckon the CVA will be accepted by the creditors. I think the reason for the "urgent" conference is because its important news and is a special occasion. Dont worry about the fact that the announcement said Wednesday not today. Thats probably so that the newspapers and journalists can get themselves organised so that they can attend.

 

For the record theres no information on the result at Companies House and there isnt much information anywhere about how the IR deals with CVAs. A lot of it is based on its history in the past.

 

Margate certainly isnt a dead club walking, not by a long shot. We shouldnt let the CVA get us down thinking that maybe all the hard work is for nothing. Its not for nothing at all. Keep your heads up. Im pretty sure this is a case of the end of the beginning not the beginning of the end.

 

UP THE GATE!

[margateshot]

Before everyone panics it won't be bad news. Colin page was at the ground yesterday and asked me if I was going to be there on Weds as there was a press conf at 1200. He stated that apart from other news he was hoping to introduce 3 or 4 new directors. I have also heard that there is more good news to be announced.

[jkmaskell]

I cant see the CVA being refused so its not really an issue. Since it looks like fans are allowed to attend, Ill be there. Cant be there for too long though. Have to be at work for 1pm.

 

Good to hear about new directors. The Board needed to be fuller with more expertise and mroe views. I know theres definitely two new additions including an accountant which will certainly help with avoiding any future money problems.

 

All good then.

[Cookie]

Spoke with KP today and we are all welcome to attend this meeting tomorrow.

Trying to get anything from him was hard today but I suppose he wants to keep the details till tomorrow and he probably knows too well that I always try and keep those of you out there informed when any news comes along.I can accept this silence on the matter as he would probably want the press to know at the same time as us. Thats fair enough.

Finally I would like to say that the work WAS going on at the ground today and much was done though still a long way to go before Saturdays inspection.The point I'm trying to make is that we wern't turned away and that the improvements continue so as far as that goes it should fare well for this announcement tomorrow and I agree with all that James Maskell has said in that we probably shouldn't have any fears concerning this. As you know I just hate counting chickens but in this case I feel quietly confident.

Get yourselves to the ground at midday tomorrow as we also have those fixture posters there for you.If everyone took just 5 and got them showing in their local shops we will have done our job of advertising the next 3 games to the public.More posters will follow troughout the season to cover all other home games so get there tomorrow please and take some posters.

Posters made up and supplied by PETER W and colour copying of the rest will be done by Taffy.Thank you the pair of you for your help with this. Especially Peter W who came up with the goods when required.

[jkmaskell]

Ill take a poster to work tomorrow. Cheers to Peter and Taffy.

[TonyM]

I will be there at 12noon Tone to take some posters as I told you at the ground but cant stay long as work gets in the way.