I wonder if this new additional borrowing is to replace the additional borrowing that the borrower took from *** Limited in early summer last year? The shares taken as security were to be returned to the borrower in Autumn last year, but CH records indicate that this has not yet happened.
Yes, they own over 75% shares and have significant control the business, unless the notification has not come through yet. If the loan from *** is repaid and the shares are returned before the second tranche is applied for, then the director can be taken as in control. Otherwise this may be an exit route for another lender and the security will need to be good. Loads of saleable stock. One circle to be squared will be the stock level at 31 Oct 2019, which the filed accounts put at 2,446k, while the management accounts at 28 Oct 2019 and the financial projections said 445K. Such a lot of changes in the balance sheet in 3 days - though not filed until October 2020. I'm sure that Ablrate will present us with a thorough exposition of what has happened since 28 Oct 2019.