OFFICIAL: " LANGSTON DEBT CLEARED "

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' 22nd July 2013 '

Cardiff City Football Club and the Langston Corporation are pleased to announce that an amicable resolution to the longstanding differences has been formally reached today, July 22, 2013.



Speaking of the news Tan Sri Vincent Tan said, “I am grateful and indebted to Sam Hammam, Michael Isaac and Michael Filiou for their part in this resolution, which brings to a close a lengthy period of uncertainty.



“This settlement allows us to look to a new era of financial stability, which should be celebrated by all connected to Cardiff City. I am delighted, primarily for the supporters of this great club that we can put this matter firmly behind us and plan for our future with confidence."



Sam Hammam, said, “This resolution will rightly be regarded as a proud and historic occasion for all associated with Cardiff City Football Club. Now that an amicable agreement has been reached, thanks in most part to the vision of Tan Sri Vincent Tan and the important role of Michael Isaac and Michael Filiou, the club can now focus on the exciting Premier League season ahead, while building for the future with optimism."



It has been agreed by all parties that the sole focus should be on building for the season ahead. Sam Hammam, as a part of this resolution, will take up the honorary title of Life President at the club, while the board would like to place on record its gratitude and thanks to Tan Sri Vincent Tan, Sam Hammam, Michael Isaac and Michael Filiou for their invaluable contributions to the confidential deal. Michael Filiou is joining the Board of Cardiff City Football Club.

“This settlement allows us to look to a new era of financial stability, which should be celebrated by all connected to Cardiff City. I am delighted, primarily for the supporters of this great club that we can put this matter firmly behind us and plan for our future with confidence."

This is a huge weight of Cardiff shoulders, we can now concentrate on winning the prem league /o\ <o> /o\

We're Cardiff City and we're debt free, now we're gonna storm the premier league.

Wow! I hoped & dreamt that this would happen, but there's been so many false dawns, so wondered if it would ever happen? A huge day !

Last edited by Valley Lad on Mon Jul 22, 2013 8:05 pm, edited 1 time in total.

it is the best news that could happen! better than any signing!

Life President for Scam ???
It must be a meaningless title surely ?
Tell you what, Tan is one hell of a businessman.
If we got our blue back he would be an absolute hero.

Onwards and upwards

We're Cardiff City and now we're debt free.

Best news ever brilliant news for ccfc .wicked news been waiting a long time for this news

HUGE day for true fans of Cardiff City FC
DAY OF MOURNING for the boycotting warriors on CCMB

HUGE day for true fans of Cardiff City FC
DAY OF MOURNING for the boycotting warriors on CCMB

We're Cardiff City and now we're debt free.

Not quite yet , Tan still yet to convert his debt to equity , still great news it's finally sorted

We're Cardiff City and now we're debt free.

Not quite yet , Tan still yet to convert his debt to equity , still great news it's finally sorted

Yep

We're Cardiff City and we're debt free, now we're gonna storm the premier league.

You do realise we are still massively in debt. It just means we owe Tan now instead of Sam. I won't be doing cartwheels until Tan converts his debt to equity.

Don't think anyone needs people gloating mate. Just great news for our club.

HUGE day for true fans of Cardiff City FC
DAY OF MOURNING for the boycotting warriors on CCMB

Ye, because fighting for what you think is important to some makes them less a supporter than everyone else.

Will the debt be turned into equity or will the club just owe the money to tan and not langston?

HUGE day for true fans of Cardiff City FC
DAY OF MOURNING for the boycotting warriors on CCMB

Ye, because fighting for what you think is important to some makes them less a supporter than everyone else.

don't turn this into a rebrand debate now, lets just all be happy that the debt is being sorted and the club has a brighter future

Will the debt be turned into equity or will the club just owe the money to tan and not langston?

tan said in the interview last week that he is planning on turning the debt to equity! he's delivered on everything else so lets trust him on this!

We're Cardiff City and we're debt free, now we're gonna storm the premier league.

You do realise we are still massively in debt. It just means we owe Tan now instead of Sam. I won't be doing cartwheels until Tan converts his debt to equity.

exactly.

HUGE day for true fans of Cardiff City FC
DAY OF MOURNING for the boycotting warriors on CCMB

Ye, because fighting for what you think is important to some makes them less a supporter than everyone else.

don't turn this into a rebrand debate now, lets just all be happy that the debt is being sorted and the club has a brighter future

My feelings towards Tan will never change.

HUGE day for true fans of Cardiff City FC
DAY OF MOURNING for the boycotting warriors on CCMB

Ye, because fighting for what you think is important to some makes them less a supporter than everyone else.

don't turn this into a rebrand debate now, lets just all be happy that the debt is being sorted and the club has a brighter future

I hate the rebrand however Tan has delivered on his promise to sort the Langston debt , lets hope he keeps his word and converts his debt to equity .

Agreed better than any signing ,brilliant news

Will the debt be turned into equity or will the club just owe the money to tan and not langston?

tan said in the interview last week that he is planning on turning the debt to equity! he's delivered on everything else so lets trust him on this!

Good Times. Bigger news than a royal baby.

Excellent news, tan is making good on promises fair play.

Feel sick that Sam has been offered a role at the club. Worse than the rebrand to me. I'm boycotting until that dirty vermin rat is nothing to do with our club. We'll end up like Leeds and Portsmouth. Some just never learn. Feel sick.

It's a role with no power, don't worry.

http://www.cardiffcityfc.co.uk/news/article/cardiff-city-reach-langston-resolution-936997.aspx

Cardiff City Football Club and the Langston Corporation are pleased to announce that an amicable resolution to the longstanding differences has been formally reached today, July 22, 2013.



Speaking of the news Tan Sri Vincent Tan said, “I am grateful and indebted to Sam Hammam, Michael Isaac and Michael Filiou for their part in this resolution, which brings to a close a lengthy period of uncertainty.



“This settlement allows us to look to a new era of financial stability, which should be celebrated by all connected to Cardiff City. I am delighted, primarily for the supporters of this great club that we can put this matter firmly behind us and plan for our future with confidence."



Sam Hammam, said, “This resolution will rightly be regarded as a proud and historic occasion for all associated with Cardiff City Football Club. Now that an amicable agreement has been reached, thanks in most part to the vision of Tan Sri Vincent Tan and the important role of Michael Isaac and Michael Filiou, the club can now focus on the exciting Premier League season ahead, while building for the future with optimism."



It has been agreed by all parties that the sole focus should be on building for the season ahead. Sam Hammam, as a part of this resolution, will take up the honorary title of Life President at the club, while the board would like to place on record its gratitude and thanks to Tan Sri Vincent Tan, Sam Hammam, Michael Isaac and Michael Filiou for their invaluable contributions to the confidential deal. Michael Filiou is joining the Board of Cardiff City Football Club.


Read more at http://www.cardiffcityfc.co.uk/news/art ... sjfsrx4.99

The settlement of the debt for far less than its book value is obviously great news if the figure of £15m in full and final settlement being bandied about is correct.

Now on to the conversion of the full VT debt into shares ASAP as promised , which will be an even bigger step (but which will need a shareholders` meeting to approve the necessary increase in shares).

One comment on the press release. There is no way that those words are those of either VT or Sam - they just don`t speak that way. And that`s not a criticism , just a sense of relief that they have allowed someone more professional in drafting these things to do so rather than repeat errors of the past in insisting they give direct quotes.