DEBT to EQUITY

forgot to add, im bored to death with this topic theres f**k all we can do about it and worrying will make you sick tbh

Absolutely correct as VT has the club by the bollocks and we can do very little about it, apart from enjoying the ride and accepting the free gifts

That said were things really any different under Sam Hammam or PMG/Peter Ridsdale?

The owners (or owners of the debt) are always the ones with the real power.

forgot to add, im bored to death with this topic theres f**k all we can do about it and worrying will make you sick tbh

Absolutely correct as VT has the club by the bollocks and we can do very little about it, apart from enjoying the ride and accepting the free gifts

That said were things really any different under Sam Hammam or PMG/Peter Ridsdale?

The owners (or owners of the debt) are always the ones with the real power.

No they was no diffrent there all the same from the past, same as me or you if we own it or put more money in to it than the next man we want the say over everyone else such is life.

There are two parts to share capital

Authorised - the total amount that can be issued without going back to the shareholders for permission to issue new shares

Issued - the amount of shares actually issued to date out of the total allowed.

At a previous EGM the shareholders approved a big increase in the authorised share capital , giving lots of "headroom" to issue new shares as and when the board saw fit.

From memory (I will have to look up the old paperwork to confirm) however , there was only enough increase to allow just under £40m of new shares to be issued and VT`s debt is already over that amount so a new EGM will have to be called to increase the amount further to allow all of VT`s debt to be converted into shares.

Well said Bakedalasker.

I could almost have written that myself

Haha,

Decided to paste it over, saves going back to the other thread.

I'm just trying to see if the shares will cover the debt.

CB post about virtual tells me they wont and that was never the intention.