Direct action against the owners now. Take Part!

I got that email too

I got that email too , I'm really happy that they sent me a reply I really felt even though this whole thing did not work out I still felt I did what I had to do as a supporter of this club . Lets hope that all of this sh*t is cleared up by pre-season so we can breathe normally by the time the league season starts .

Thank you for your email expressing concern about RBS' banking arrangements with Liverpool FC and it current owners. We are aware of the strength of feeling of a number of fans on this matter and have corresponded with many during the course of the past year or so.

Perhaps I can start by putting RBS relationship with Liverpool FC in context. RBS is the main banker to the Club including all of its operating accounts, cash management, online banking, automated payments, and credit card processing to facilitate ticket sales and retail merchandising.  We also provide a credit facility to support the Club’s working capital requirements and a letter of credit facility to facilitate the purchase of players from non-Premiership Clubs, along with a loan facility for design, planning and other preparatory work for the proposed new stadium at Stanley Park. We have set out to establish a long term relationship with the Club, and we look forward to this continuing for many years to come.

We also lent money to the Club’s parent, Kop Football Limited, so that it could repay debt which was on the balance sheet of the Club at the time of its acquisition by George Gillett and Tom Hicks. This is the only portion of Kop Football’s bank debt for which the Club is legally responsible. We took great care when making our original loan in early 2007 and when refinancing it last January to distinguish between obligations of the Club, primarily those outlined above, and obligations of its parent company, the latter being secured by personal guarantees and collateral from the owners and a pledge of the shares they own in the Club. As a result the Club does not suffer the burden of debt implied by a lot of the recent press reports and, in our view and that of the executive management of the Club, it is financially healthy and able to service comfortably its debt obligations from cash flow generated by its playing and commercial activities.  It is in our commercial interest to support the Club in the manner described above so that it can continue to perform successfully on and off the pitch.

As far as the Government is concerned, they have been very clear that they do not wish to exercise day to day control over RBS or make commercial decisions for us. Indeed they set up an independent body, UKFI, to oversee the Government’s shareholding in RBS, so matters such as strategy and governance can be agreed, while they leave commercially related matters to us.

RBS attaches a great deal of value to being associated with Liverpool FC. I hope my comments reassures you as to the strength and depth of our relationship with the Club and that we will endeavour to contribute to its long term health and success.

Kind Regards,


Roger Lowry
Head of Group Public Affairs
Royal Bank of Scotland Group

280 Bishopsgate
London
EC2M 4RB

def
http://www.rbs.com

The Royal Bank of Scotland plc, Registered in Scotland No. 90312. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB

Authorised and regulated by the Financial Services Authority.

just recieved this e-mail from RBS in reply to my e-mail to them telling them to tell them 2 yank cu*ts to F**k off...................WA NKERS

Can anyone tell me what the is company flotation is all about? I read it somewhere here

http://www.digitallook.com/companyresearch/atoz/LSE_l.htm

Remember it's not a speculation, but i want to know what the meaning is...

Have a look:

Initial public offering

Initial public offering (IPO), also referred to simply as a "public offering" or "flotation," is when a company issues common stock or shares to the public for the first time. They are often issued by smaller, younger companies seeking capital to expand, but can also be done by large privately-owned companies looking to become publicly traded.

In an IPO the issuer may obtain the assistance of an underwriting firm, which helps it determine what type of security to issue (common or preferred), best offering price and time to bring it to market.

An IPO can be a risky investment. For the individual investor, it is tough to predict what the stock or shares will do on its initial day of trading and in the near future since there is often little historical data with which to analyze the company. Also, most IPOs are of companies going through a transitory growth period, and they are therefore subject to additional uncertainty regarding their future value. However, in order to make money, calculated risks need to be taken.

Does this just mean they are officially looking for smaller investment partners, as has been widely reported, or can it mean they are looking to sell outright?

I think they are looking to sell a certain amount of shares to raise capital, whether this be to pay off interest, or make heavier investment in the club, however, I don't know.

Fred Goodwin has today announced he has taken a massive pension cut from the money he was to receive from RBS.

He is going to fund the interest payments!

 


The RBS response aint as bad as we think.

Fred Goodwin has today announced he has taken a massive pension cut from the money he was to receive from RBS.

He is going to fund the interest payments!

 


The RBS response aint as bad as we think.

But have you seen how much they've promised to pay, plus bonuses, the f**ker who has just taken over Goodwin's job!

I got that email as well.

F**k off RBS.  Don't chat such bullshit.

I have just read the reply on here.  The one in my inbox has yet be opened.  I must admit I did not expect a reply and would like to congratulate Mr Lowry on doing so.  They appear to have explained everything quite clearing without giving away any figures but I am still a little worried.  I honestly dont trust that pair clowns and awaiit further developments.

Hi Macc8.  An IPO  or Initial Public Offering is normally for a new company that is about to issue shares.  it can also be used to raise capital when a company is in trouble.  It may be that company has some shares in trust or in reserve.  They will then issue these to raise the capital required.

Thank you for your email expressing concern about RBS' banking arrangements with Liverpool FC and it current owners. We are aware of the strength of feeling of a number of fans on this matter and have corresponded with many during the course of the past year or so.

Perhaps I can start by putting RBS relationship with Liverpool FC in context. RBS is the main banker to the Club including all of its operating accounts, cash management, online banking, automated payments, and credit card processing to facilitate ticket sales and retail merchandising.  We also provide a credit facility to support the Club’s working capital requirements and a letter of credit facility to facilitate the purchase of players from non-Premiership Clubs, along with a loan facility for design, planning and other preparatory work for the proposed new stadium at Stanley Park. We have set out to establish a long term relationship with the Club, and we look forward to this continuing for many years to come.

We also lent money to the Club’s parent, Kop Football Limited, so that it could repay debt which was on the balance sheet of the Club at the time of its acquisition by George Gillett and Tom Hicks. This is the only portion of Kop Football’s bank debt for which the Club is legally responsible. We took great care when making our original loan in early 2007 and when refinancing it last January to distinguish between obligations of the Club, primarily those outlined above, and obligations of its parent company, the latter being secured by personal guarantees and collateral from the owners and a pledge of the shares they own in the Club. As a result the Club does not suffer the burden of debt implied by a lot of the recent press reports and, in our view and that of the executive management of the Club, it is financially healthy and able to service comfortably its debt obligations from cash flow generated by its playing and commercial activities.  It is in our commercial interest to support the Club in the manner described above so that it can continue to perform successfully on and off the pitch.

As far as the Government is concerned, they have been very clear that they do not wish to exercise day to day control over RBS or make commercial decisions for us. Indeed they set up an independent body, UKFI, to oversee the Government’s shareholding in RBS, so matters such as strategy and governance can be agreed, while they leave commercially related matters to us.

RBS attaches a great deal of value to being associated with Liverpool FC. I hope my comments reassures you as to the strength and depth of our relationship with the Club and that we will endeavour to contribute to its long term health and success.

Kind Regards,


Roger Lowry
Head of Group Public Affairs
Royal Bank of Scotland Group

280 Bishopsgate
London

I suppose this is a little worrying as it regards the denial of the refinancing. Even though the reassured us that we are not on the brink of administration. Key to note the highlight how extravagant and sensational the media can be.

Sorry if I posted this in the wrong place...this is just an email I received and I am sure many others may have received it as well. I simply can find the thread for this so I created it.

Thats how I read it

Anyone else just got this e-mail or is it just me?

I think they're making out that if the club got into trouble and were unable to continue making interest repayments, that we would not be responsible for the entirity of the loans taken out, but just the debt that was on the club at the time Gillett and Hicks took over (a figure I don't have off-hand, but nowhere near the £350+ million we've been talking about).

Does anyone know the ins and outs of the deal when the debt was put in the name of Kop Football Ltd, because as far as I was aware the club was reponsible for the debt as a result of this? I'm not a financial wiz, and if anyone knows better than me could they please have a look at the above e-mail to let me know.

It would be some small comfort to know that the majority of this sum is not on our back. That being said of course, if the owners went bust then we'd still probably be up for grabs to anyone with the available cash at the time, so the situation is still far from reassuring.

I got the email from Mr Lowry and the way i read it is if H+G was to go belly up the club would be resonsible for the the amount of debt when the terrible twosome bought us.Any other money they have borrowed goes directly against their other assets ,not L.F.C.I was under the impression that we were 70 to 80000 pound in debt when T+G worked there magic on Moores and Parry to obtain a sale.

I haven't heard anything back either via email (does that mean mine got caught in the spam folder?) or via snail mail.  Thanks for posting.

Seems RBS are playing the 'we're too heavily involved with the club to pull out now' approach.

Exactly right I anticipated this sort of response if push comes to shove we are still fu**ed.

Hi Billy1.   firstly i applaud RBS for sending out the email - a lot of companies would have just it aside as  spam mail.   You are right though, the letter reads well but yes if Hicks &  Gillett do not get the final okay on their refinancing deal - not totally complete yet I understand, they way they have worded the original contracts, yes LFC would liable for their debts.  Unfortuantely that means we could still be in big trouble.  All we can do is to keep trying to force them out, praise the club to the hilt and hopefully someone will find the cash and buy tweedledee and tweedledum out

Its obvious RBS support man utd and they are gonna destroy LFC!.

Who the people at RBS support is their business. I guess they just thought that they needed to follow up a deal that was set in place 2 years ago.

Please dont forget there is new management at RBS now and you never know someone may actually sit down and read the documents properly (I sincerely hope they do).  The deal is not set in stone and may possibly be altered.  We still have until midnight 23rd July to try and make RBS see sense.  I for one is not giving up.  I have supported this club too long to see Hicks and Gillett destroy it.

Spirit of Shankly today launches direct action against Royal Bank of Scotland and seeks the support of all members and fans in a campaign to force RBS to refuse to refinance the loans taken out by our current owners.

We can't say we didn't warn them.

http://www.lfcreds.com/reds/index.php?topic=20736.0