One year in - the Board

[Frenzy.]

Group expenses (excluding interest) increased by $4.8m to $26.86m

What are these group expenses.

Geez I hope the members vote for their gratuity.......

 

[carcharias]

What are these group expenses.

Geez I hope the members vote for their gratuity.......

Surely it's a typo

That is f**king astonishing.

Surely?

 

[cb4]

What are these group expenses.

Geez I hope the members vote for their gratuity.......

Not sure if it is a group expense or falls into the category of group expenses, but I do know that on one of the road trips last year the board were treated to business class flights, and put up in fancy hotels.

 

[Frenzy.]

Not sure if it is a group expense or falls into the category of group expenses, but I do know that on one of the road trips last year the board were treated to business class flights, and put up in fancy hotels.

The Melbourne one? Wouldn't be $22mill worth though LOL

 

[carcharias]

That is f**ken f**ked up.

 

[Russell Crowe's Band]

What?
How the hell did they do that?

What did they have a wolf of wallstreet party or something?

 

[Eion]

Are they calling marketing expenses sponsorship? And that group figure makes no sense at all, has to be a typo.... If not bring toovs in for an investigation!

 

[ragzouken]

Group expenses (excluding interest) increased by $4.8m to $26.86m

Does that mean last year we had roughly $22mill spent? or does it mean we had 4mil?

 

[newman]

AGM will be like a wake.

IS like a wake.

We had to wait quite a long time for the minimum 50 members to show up to start.

Hang on; some lady is GIVING it to them! Wowsers, this is a roasting!

 

[newman]

Shit this just got good!

 

[newman]

She loooooves DAMO!

 

[newman]

Keoghs getting pissed!

 

[roboshark]

Awesome. Pricks

 

[Card Shark]

IS like a wake.

We had to wait quite a long time for the minimum 50 members to show up to start.

Hang on; some lady is GIVING it to them! Wowsers, this is a roasting!

Good on her!

 

[roboshark]

They won't care cardy

 

[newman]

They won't care cardy

Oh they care, he's really pissed off.

 

[Snoop Shark]

Updates?

 

[Card Shark]

What's the discussion about?

 

[Russell Crowe's Band]

Rundown please newman when you have the time.
Cheers pal

 

[newman]

She asked just about every negative question you could think of. Sponsors, the debt refinancing, vested interests re development, lack of commitment, lack of transperancy on and on.

Keogh got pissed. He's only response was "if you don't like us, vote us out". As it unraveled Mezzetesta took over and actually answered some of her questions.

I got bored and left.

Only thing worth mentioning is:

- estimated 40mill windfall from total development.
- resi starts in June, retail in September.
- will require about 7mill in bridging finance to re do club fit out
- merch, game day sales, sponsorship revenue (dunno how) and membership revenue all up.