RE: Radical co-founder says ker-ching and sells up

[AdamPT]

johnpeat said:

AdamPT said:

Erm, why? You a shareholder? Of not I'd assume that info is private.

Perfectly reasonable questions given the nature of the article - most businesses must file accounts which are publicly available - nothing special about being a shareholder.

my point being, what is the relevence about exactly why one would need to know what his personal take home was after sale? What is the importance? I guess I'm just not one for sticking my nose into others business...Good luck to the man, he's obviously done well, does it really matter how much he's earned?

[BertBert]

johnpeat said:

AdamPT said:

Erm, why? You a shareholder? Of not I'd assume that info is private.

Perfectly reasonable questions given the nature of the article - most businesses must file accounts which are publicly available - nothing special about being a shareholder.

When you see a quote like "a £30m business" it can mean a few things. Revenue, profit or value. Revenue and profit are often hyped up in the marketing, but caught out by annual returns (assuming the company is in a country where they have to file returns). Value is completely mythical unless shares are traded. Then like an MoT it shows the value at that time (give or take, ignoring discounts for minor shareholdings). So, what's the 30m? Dunno.

[BertBert]

http://www.cavendish.com/deals/radical-cars-sports...

[F-Stop Junkie]

I was going to make a joke about how I hoped the new investors had paid cash and not had to get a loan to finance it, but I see the Pistonheads financial experts are already circling.

Pistonheads: Money Matters.

[Sicob]

For me. He had many years around the design, manufacture of fast road and track cars. If he came out with a pound, it's a bonus. Sounds like a great life experience to have even for no financial gain.

[Sir_Dave]

Dec 10 accounts show turnover at £14m, with £1m profit and shareholders funds at £2m.

So to get '£30 million' for his half is doing very well thank you very much.

[dlockhart]

chickensoup said:

If it is a super doopah £30 million business, why the debt for equity deal?

Debt for equity is fairly normal requirement as a precursor for sale. Basically change debt into shares and dilute the company, therefore new owner who agrees to buy nthe dilutes compnay including what would be debt has no liabilities (interest payments)

[andy97]

Sir_Dave said:

Dec 10 accounts show turnover at £14m, with £1m profit and shareholders funds at £2m.

So to get '£30 million' for his half is doing very well thank you very much.

The article does not say that he got £30M, just that the company was allegedly worth £30M. What he got for his stake, who knows.

[BertBert]

Read the press release I linked to and all will be revealed.

A minority stake of a business worth £30m was sold.

Investors often start with a convertible loan which they have the option to convert to equity, so it's by no means unusual, nor does it presage any specific event. No idea if it happened in this case though.

Bert

[chimaeras]

Sir_Dave said:

Dec 10 accounts show turnover at £14m, with £1m profit and shareholders funds at £2m.

So to get '£30 million' for his half is doing very well thank you very much.

I think it safe to say Mick is now a MILLIONAIRE and i like more than ever !!!!!!!!!!!!!!!!!!!

[chimaeras]

I Got excited that should read " I like him more than ever "

[EDLT]

Oh god this is the worst news ever! Foreign people buying British businesses will cause the collapse of the economy (and the Euro) according to the experts in the NP&E forum.

[lestag]

EDLT said:

Oh god this is the worst news ever! Foreign people buying British businesses human greed will cause the collapse of the economy (and the Euro) according to the experts in the NP&E forum reality.

EFA

[Lord Flathead]

Lots of entrepreneurship recently with Twitter, Facebook etc. Some gifted people this decade. Shame the rest of us can't muster the same confidence to help drag the rest of us out of this quagmire

[mikEsprit]

Never say never, but

I would never buy a car named Radical. It just sounds too stupid for the inevitable "What is that?!?" questions.

[UH-Matt]

Sir_Dave said:

Dec 10 accounts show turnover at £14m, with £1m profit and shareholders funds at £2m.

So to get '£30 million' for his half is doing very well thank you very much.

Not sure he did get £30 million.

From here: http://www.cavendish.com/deals/radical-cars-sports...

[quote]"The transaction values Radical at £30 million."

So I assume he got a lot lot less than 30 mil for his minority stake!

[BertBert]

UH-Matt said:

So I assume he got a lot lot less than 30 mil for his minority stake!

Not exactly Mastermind material are we?

[ktm301p]

alrightmate said:

Bit xenophobic my friend ...

It wasn''t intended to be xenophobic . . . to any degree!

I was just making a light hearted reference to Nikolas Smolensky (the guy who bought TVR).

Just a joke, with no hate intended . . .

[EDLT]

lestag said:

EDLT said:

Oh god this is the worst news ever! Foreign people buying British businesses human greed will cause the collapse of the economy (and the Euro) according to the experts in the NP&E forum reality.

EFA

That would be the same reality where everyone was so sure that the Euro would collapse this spring summer autumn?

[West4x4]

Hope they continue to do well. Radical are from Peterborough like me