Finances

[Raggs]

As has been posted elsewhere, looks like we were a bit naughty with that million from Richardson.  The bond price has taken a bit of a knock from it. Hopefully it'll hold together though...

Waiting on Old Sky Blue to post his thoughts on SBT.

[Brandnewtorugby]

Not brilliant, but perhaps what you might expect investing in a sports club at those rates of interest.

OSB has posted his thoughts now.

[Raggs]

Not a good look, and bond price is low, but as I've pointed out on the drunken wasps site, the price only reflects the latest trades, which is perhaps only 50k units in total?  Compared to 35m units out there.

[Neils]

Nice to see SBT being supportive! Surmising how many bonds are held by SISU and whether they can vote us down over our misdemeanour. Delusional people. Silly Wasps though. Bond price dropping considerably.

[Raggs]

Low price, but low volume.  People with small(ish) investments, getting cold feet.  There's 35 million bonds I believe, so less than 1% trading in the last 24 hours I believe?

If I had £5k that I was willing to take a small gamble with, I'd be looking at investing, unfortunately I need to be super careful with cash atm.  88.5p, buys you a £1, and 6% interest each year.  After the meeting on the 19th, I'd guess the bond goes back to normal trading, and you could get out with a quick 13%+ profit.

EDIT - Wow, some sold for 85!  If you could grab those, and the amendments pass, it really wouldn't be unreasonable to expect it to get back to 100p, if not higher, at 100p, that's nearly an 18% profit.

[Dgwasp]

I was just thinking about my own tax return yesterday and thought that it was end of March when Wasps were due to submit last years accounts. I don't think they have submitted them yet and today is a public holiday then we go into the weekend. Does this mean they've missed the deadline or might companies house just not have published them yet?

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[NellyWellyWaspy]

I was just thinking about my own tax return yesterday and thought that it was end of March when Wasps were due to submit last years accounts. I don't think they have submitted them yet and today is a public holiday then we go into the weekend. Does this mean they've missed the deadline or might companies house just not have published them yet?

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They are late, but that was caused by having to hold that special meeting. They will probably be submitted by the end of March (which might be Tuesday as this four day block is public holiday/weekend), but in theory they should have submitted them by 31 March. There WILL be a small automatic fine for being this late, which gets bigger if they are submitted after 31 March. If they do it two years in a row, the fine is bigger. I know that Companies House is aware and will have sent out the warning notice, but they rarely take any actual action this early on.

[Raggs]

They may have submitted them already, companies house doesn't update immediately.

[Neils]

And the Bond price is now over 100 again. Wasps indicated earlier in the week that they would submit by the end of March so would suggest all was in place to issue. As said probably in but not registered due to bank holiday. No penalty if so.

[Dgwasp]

And the Bond price is now over 100 again. Wasps indicated earlier in the week that they would submit by the end of March so would suggest all was in place to issue. As said probably in but not registered due to bank holiday. No penalty if so.

According to the Sky Blues Forum our accounts are now overdue... This is my primary worry for Wasps at present.  I'd like to see success, but more so want to see a couple of years stability and getting the whole business functioning.  I'm hoping they are just having issues resolving the accounting errors...

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[Neils]

Noted the comments and undisguised glee on there. Likewise I would like to see some stability and progress. I wish we would stop these financial info delays as it just stokes their (SBT) comment threads.

[Brandnewtorugby]

There are only a few of them on there that seem to like wallowing in news about Wasps. I know there is some hatred, but think it is mostly driven by hope for their clubs fortunes.

[Rossm]

Well they could help themselves by not surrendering 2 - 6 to Yeovil Town.

[NellyWellyWaspy]

Well they could help themselves by not surrendering 2 - 6 to Yeovil Town.

A bit harsh. They could point to our results this year, which at times have not been stellar either. Anybody remember Sale or Leicester? We did, in fact, surrender both those games ... and one of the Quins games.

It is in the nature of sport; nothing is certain or given. Thus, to watch sport is to enjoy the contest, and not focus too much on the result.

Late submissions of financial results is not untypical, but not a 'good thing' when you have bond holders. There can never be a good reason for it, but the rules are so complicated that finalising the accounts is complex.

[Trevs Big Tackle]

Worrying results for Worcester. http://www.bbc.com/sport/rugby-union/43690322