Hmmm. Definitely written by somebody who didn't fully understand what he was writing about becase it is muddled and contradictory. I'm still not convinced.
That said it does say this:
- Quote :
- A statement at the conclusion of the 2011 accounts mentions that the Mastpoint group surrendered its loan security but could still receive financial payments dependent on the future success of Argyle.
'By an agreement reached in October 2011, the company surrendered its security in respect of loans receivable from Plymouth Argyle Football Company Limited such that PAFC could be released from administration and continue as a football club.
'The agreement provides for the potential reward to the company's loan note holders dependent on the future success of the football club.'
Definitely something that could do with being clarified.
Has anybody other than Postie seen the accounts to which he refers? Is he reading them properly?
There's a nice little project for Lord B, or some other accountancy bod, because I'm not one of them and probably wouldn't know any better than Postie does.
The simple and correct explanation may well be the one on Youtube: "nuffink to do wiv us, Guv!"
It certainly could do with settling one way or another because either the club has blatantly lied to us or Postie is mistaken or he's bullshitting which'd be of interest whichever way it goes.