Next accounts due today?

[Raggs]

Previous accounts have been released at the end of October, so I'd be expecting the next lot today.  Be interesting reading, lets hope for a good result!

On a completely different topic, anyone else getting the annoying inbetween posts adverts on rugbynetwork?

[Trevs Big Tackle]

Any news on this? I've had a google but can't find anything.

[NellyWellyWaspy]

On a totally different, but most likely related (financially) matter, I see that the SISU JR2 case has now moved to the listing officer for listing. Whilst it is due to be heard before October 2018, it can be heard any time before then, IF all the papers/bundles/submissions are in, and it seems that they are (since 27 October 2017).

[NellyWellyWaspy]

Anyway, the results SHOULD be here:

http://www.londonstockexchange.com/exchange/prices-and-markets/retail-bonds/company-news.html?fourWayKey=XS1221940510ZZGBPUKCP

They aren't (as of now at any rate).

[Raggs]

It's possible of course that they have been submitted, it just takes a while for them to be properly uploaded.

[NellyWellyWaspy]

Well, at least the SISU JR2 case is going forwards. At the end of this month will be a short hearing, probably to make sure all papers are in order, and then sometime in April/May 2018 will be a two day hearing. In the first to hear the appeal, and only if that is successful, then they will hear the application. So, Appeal accepted, yes or no, if no, then can SISU appeal that to the Supreme Court? My guess is that they would. If their appeal succeeds, will their application be accepted, yes or no? If it is not accepted, they might also appeal that, and I guess that they would. Best guess? At least 18 months from a final decision. But ti could go on much longer. Unless the courts get fed up with them. Or they run out of money.

[Trevs Big Tackle]

Leicester board reporting a rumour of a premiership club in financial difficulties.

http://www.rugbynetwork.net/boards/read/s103.htm?106,16139008

Although a quick google search found that thread was the only source of any rumour!

[Neils]

Nice of them to wish us failure!

I read it was Yorkshire Carnegie who were in trouble.

[Vespula Vulgaris]

I think we' all have concerns, probably based more on the fact that Wasps have a history fo not making anything public until they absolutely have to more than genuine concerns grounded in fact.

But that being said if I could make SISU vanish I would...

[Dgwasp]

I would like to see a reasonable set of accounts to ease my niggling worries a little.  That being said the interim accounts showed the losses had come down significantly and I seem to recall had a small profit EBITDA, I think...

I guess David Armstrong was CEO for previous accounts and Nick Eastwood might just have a different idea on when to release the accounts.  I don't think they are due until April 18. 

Don't they have to conform to certain covenants for the bond this year?  I'm sure the whole SISU saga is having an effect and courts have played into their hands allowing them to prolong the legal debate even further.

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[Raggs]

I believe the bonds require accounts to be released every 6 months, hence waiting on the next lot.  It could be it was only a temporary 6months thing, then moves back to 12 months?

[Dgwasp]

That makes sense, I think the next bond payment is due towards the end of the week... So we shouldnt have too much longer to wait...

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[Dgwasp]

I notice on the rumour on the Leicester board someone has asked if Wasps could survive relegation.  Given the gap in required costs of running an established AP team, are there any of the current AP clubs that could survive relegation these days?

Bristol have only survived because the owner has incredibly deep pockets.

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[Trevs Big Tackle]

London Irish seem to have survived relegation okay.

[Raggs]

Think Irish have some good backers too.

I don't think many AP clubs can survive as they are, if they didn't have backers.  We'd struggle more than a lot, since our "backer" is more the value of the stadium, rather than Derek.  Derek has cash, but he doesn't seem to be as flush as a lot of the owners.