RE: we can remove darby23 Jun 2017 20:12
you could be right. they must get preferential over the large amount of bonds paying around 6.5%, this is 20% in three years.
all darby had to do was use the cash generated to pay down the debt, the risks would have come down rapidly but he decided to create complex financial setups where at least 100m ( exluding the coupon payments) of shareholder funds were moved to his friends in the city. The debt is higher now then it was in dec 2013, 9 months after he started at premier
Yet more debt was added from recent new bond issue, to replace existing bonds. why was this needed if £40m of debt was going to be paid off in a year through cash generation.
All I can think he wants to increase the debt further, with 20% like for like profits down in his time at premier, what will the share price be like.
we need to vote against him, it may not fully work, but will send a message to the new chairman, whoever he is, just hope darby is not planning to take on chairman role on as well.