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bigsexy2007 Posted on 01/11/2019 09:38
Podcast - episode 6
Edited On: 01/11/2019 09:39
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Spoke with John Askey and an anonymous guest who delved in to our dire financials.



Link: m.mixcloud.com/scottbartonexp/silkchat-podcast-episode-6/
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Ron_Ipstone Posted on 01/11/2019 10:01
Podcast - episode 6

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I am not sure that you have fully grasped the finances of the club, MTFC Ltd and Ramy Ltd.

Strictly neither Amar nor Bashar have put money into the club directly. And they do not own shares in the Macclesfield Town FC Ltd, the majority shareholder of which is Ramy Ltd. and Amar and Bashar own shares in Ramy Ltd.

The way Amar (leave Bashar out for the moment) puts money into MTFC Ltd is via Ramy Ltd.

So, Amar lends money to Ramy which in turn lends to MTFC Ltd.

So the debts of Ramy Ltd are mainly to Amar. This amounted to about 3.6 million as at 2017.

In calculating the net indebtedness of Amar and his companies the 3.6 million owed by Ramy is cancelled out by the simple fact that this money is owed to Amar.
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bigsexy2007 Posted on 01/11/2019 11:07
Podcast - episode 6

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Yes, this is what i have aluded to already over on SLE. The club in itself owes between 300-500k. But Ramy Ltd is the majority shareholder in the club, if someone came in and bought the club with 2m (which plenty have offered) this will comfortably cover our debts. Amar won't sell for that as he wants to clear the debts of Ramy Ltd, which owes a few million.

This is all on companies house, the man has no money, at all. How can he run a football club? Can't even clear a part payment to the HMRC at the moment.
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Ron_Ipstone Posted on 01/11/2019 11:23
Podcast - episode 6

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The debt of Ramy Ltd is to Amar to the tune of 3.6 million or so.
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silkmen_away Posted on 01/11/2019 23:26
Podcast - episode 6

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Cheers again for putting this together. I appreciated Sir John's candor and can't believe his championship season bonus still hasn't been paid. Given that, and Sol's pay saga I wonder (tongue in cheek) if DM required advanced cash payment for his entire contract.[;)]
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MenorahTableofShowbread Posted on 02/11/2019 01:46
Podcast - episode 6

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Ron - AA announced that he had written off his debt (along with andy Scott and Mike Rance) a couple of years ago.

Am I correct in understanding that Ramy Ltd may owe money to AA but MTFC does not owe the same amount of money to Ramy Ltd?
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Ron_Ipstone Posted on 02/11/2019 09:50
Podcast - episode 6

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Menorah, that is correct. Ramy's debt of 3.6 million is owed to Amar.

Mr Barton has suggested that the combined debt of Ramy and MTFC is of the order of 4.5 million and that this is the amount that one way or the other Amar will have to find, but this ignores the fact that most of Ramy's debt is owed to Amar.

There is however no doubt that Macclesfield Town FC Ltd is insolvent, in that it cannot pay its debts when they fall due for payment.
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bigsexy2007 Posted on 02/11/2019 17:23
Podcast - episode 6

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No - i said Ramy Ltd has total liabilities of 4.5m.

I believe macc town owe around 300-500k. Macc Town is owned by Ramy Ltd though so i believe.

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Ron_Ipstone Posted on 02/11/2019 18:22
Podcast - episode 6

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What was said on Facebook was:

"Judging by what is on Amar on companies house, no wonder he won't sell the club for 2million. He has a total liabilities of 4.5million, and Ramy Ltd own the club.

From what i have found, which is pretty alarming:

1. Ramy Ltd current total liabilities is 4.5million
2. Amar net worth is -3.6million
3. Macclesfield Town is owned by his company
4............"

The reality is from the last filed accounts (2018}:

1. Ramy Ltd owes 3,559,055.

2. That amount is owed to the directors of Ramy Ltd.

One cannot say from the Companies House filed accounts how much Amar is worth.
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