Alex Taylor, an NUFC fan, who broke the news about the Bin Zayed Group’s holding company Monochrome Acquisitions Limited has a tweeted about recent activity by two subsidiaries of Newcastle United.
This is what Alex has tweeted:
club, stadium and club website. Securitization in this sense would be bundling the above together into one and selling their cash flows to investors, effectively increasing the clubs liquidity. In the event of a takeover, these arrangements may want to be satisfied. (2/2) pic.twitter.com/ulT6gze0VJ
— Alex Taylor (@alcxt) July 1, 2019
Both companies have a record under “Filing History” with the description of “Satisfaction of Charge 2” and “Satisfaction of Charge 3”. Both of these are to Barclays Bank and are documented under “Supplemental Deed” and “Guarantee and Debenture”. These loans have recently been satisfied.
It is interesting that these “charges” were satisfied on June 21, 2019 but it also could be coincidental as they were created on July 1, 2009. We perused all documents dealing with these two companies and could not find anything in relation to having to be satisfied in 10 years though.
There were no such activity on the other three companies that Alex lists all of which appear on the initial loans along with Newcastle United Enterprises Limited And St James’ Park Newcastle Limited.
We’ll have to keep an eye on these other three subsidiaries and see if any activity occurs anytime soon. This could all be normal business dealings and with it being very close to the 10 year mark of the inception of these loans we would err on the side of caution that they are.
This article was originally posted here