www./news_2302-new ... aints.html www.saintsrlfc.com/news/1917 Sound footing going into our new Stadium £1.75million has been added to shareholders funds by way of a conversion of £1.35million of directors' loans into new shares and a private placement of £400,000 of new shares.

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www./news_2302-new ... aints.html www.saintsrlfc.com/news/1917 Sound footing going into our new Stadium £1.75million has been added to shareholders funds by way of a conversion of £1.35million of directors' loans into new shares and a private placement of £400,000 of new shares.

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Any chance of a new prop with some of the cash?

Good old mac... he had his money sat in there to long

anyone know what this means in reality?

has Eamonn put more cash in, or written off debts the club owes him and other directors?

I cannot wait for saints stadium to get finished it can only look good for the games premier team to be playing in a great stadium infront of big crowds. KR is great but does not do the game any favours. I also cannot wait to visit for the first derby game there.

he's not daft, sir mac. My understanding is that the directors who have carried the club have converted their loans into shares in the club, at a time when they are worth very little, so they own a massive proportion of the club which was, because of the debt not worth much. In two years with very little debt and a shiny new stadium on its books, the club could be worth 20x what it is now. Any potential investors/sponsors will be much more likely to invest in that situation.

How can loans be turned into shares?

I really don't understand this corporate finance stuff.

That's what I think it all means.

its just crafty business stuff really, it could take me all night to explain it, but the end result is that the club is much more secure.

I guess I won't be getting the 'Sack the board' banner out of the cupboard for a while then. I had expected it to be used frequently when Harry was appointed.

debentures are directors loans changed into shares in the club.

This means that its even more in the best interests of the big debenture holders to ensure the club goes from strength to strength.

debentures are medium to long term usually, those who have converted loans will undoubtadly be with us for some time!

Surely its taking debt off the "balance sheet" to improve the club's credit-worthiness before attempting to raise finance to part fund the stadium.

There is no way in the world that anybody would be given finance in the current financial markets if they were carrying that amount of debt with minimal assets until the new stadium is completed.

I would also imagine that the director's loans were re-payable on demand thus makking the club even more un-bankable.

This is another step on the way to completing the stadium but I would say that there is no way in the world a contract for the build will be in place by Christmas.