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Eating away over the winter

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Re: EGM on 15th January 2019
Posted by: Andrew Dow
Date: 17/01/2019 16:14
As the Club has now changed its structure to that of a limited liability company, it may start raising finance by way of issuing bonds and the like, as my rugby club, Teddington did, a couple of years ago.

Clause 5.2 allows it :
"To raise or borrow money from Members or others up to a limit agreed from time to time by the Members in General Meeting for the purposes of or in connection with the activities of the Club or any of them, on such terms as may be decided by the Board. Any sum or sums raised or borrowed may be secured by way of mortgage or charge over all or any of the undertaking, property and assets, present or future, of the Club, and whether or not including any floating charge of all or any of the undertaking, property and assets of the Club."

Should we so wish, we may apply to become one of the ECB's (subsequently) non - performing loans or raise money from other sources, which would probably be my preferred course of action.At least we don't have a ground at Wantage Road that can be turned into a housing estate in the event of non repayment. However, that will also require us to be very smart in how we go about both the raising of finance and the servicing of any debt, given that we don't have such an asset, but are seeking to acquire one.

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