| No court action? on 15:30 - Feb 15 with 4539 views | onehunglow |
BUT,I was told it was imminent and I was dumb to even question it.
Apologies accepted then. | |
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| No court action? on 15:33 - Feb 15 with 4531 views | ReslovenSwan1 |
A 5% 'golden share' by the looks of it. 21% was always too high a share. The devil will be in the detail. | |
| Wise sage since Toshack era |
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| No court action? on 15:35 - Feb 15 with 4528 views | KeithHaynes |
Here we go 😂 | |
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| No court action? on 15:39 - Feb 15 with 4499 views | Chief |
It's a terrible statement and it's shocking that the trust's statement is exactly the same.
Have the trust actually sold 16% or have just given up with just the 5% locked in? | |
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| No court action? on 15:45 - Feb 15 with 4472 views | jasper_T |
It means that however many new shares are generated when the loans are converted to equity/new investment made, the Trust's holding can't drop below 5% even if they never put another penny into the club. | | | |
| No court action? on 15:45 - Feb 15 with 4463 views | Dr_Winston |
The Trust has guaranteed itself at least 5%. In theory the owners could have diluted their share level below that. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| No court action? on 15:50 - Feb 15 with 4450 views | Chief |
Just seen the full statement.
Terrible. The members have been betrayed. | |
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| No court action? on 15:52 - Feb 15 with 4426 views | union_jack |
Not wishing to lock horns with you on another subject but taking it in face value, isn’t this the best solution? As Resloven says above though, the devil is in the detail. | |
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| No court action? on 15:53 - Feb 15 with 4430 views | jasper_T |
How so? | | | |
| No court action? on 15:56 - Feb 15 with 4416 views | Chief |
The members voted for court action that could result in the sale of the shares.
Now that's not happening with no consultation with the members. | |
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| No court action? on 15:58 - Feb 15 with 4394 views | Chief |
I don't see how. The trust have just given up a QC endorsed case that could result in at least £21mill windfall for 500% and 5% lock.
How can that be seen as good for the trust? What happens if the Americans sell, will the next owners respect the 5% lock? | |
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| No court action? on 15:59 - Feb 15 with 4392 views | jasper_T |
Does this statement preclude the sale of shares? Wasn't the main court action directed against the former owners rather than the club? | | | |
| No court action? on 16:01 - Feb 15 with 4363 views | vetchonian |
5% shareholding is insignifciant..the Tust will not feature in any future ownership once this mob sell.
Also it will now never ahave sufficient funds to launch a resuce bid should the worst occur.
Intersting though the club managing this given the legal action was against the sellouts and buyers individuals not the club.....
I am saw this coming ...hence why I am no loinger a Trust memebr and wont be rejoining anytime soon | |
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| No court action? on 16:02 - Feb 15 with 4357 views | Chief |
It was never directed at the club. Proceedings were against the new and old owners and yes court action, it was told to the members if successful would probably result in the sale of all their shares at the premier league cost. | |
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| No court action? on 16:05 - Feb 15 with 4332 views | felixstowe_jack |
The members have not been betrayed. It seems a sensible and fair solution which avoids any court action.
The Trust will shortly receive £0.5 million with a possible further £0.5 million for 3 seasons if the Club are promoted and stay in the PL for 3 seasons.
The Trust will hold 5% of the Club shares which cannot be further diluted.
The Trust will also hold 10% of the Club shares following the recent investment by our owners which was in the form of a convertible loan which will shortly be turned into new shares.
Clear people with better legal knowledge will know how fair the deal is to the Trust, the trust members, new shareholders and former share owners. | |
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| No court action? on 16:09 - Feb 15 with 4315 views | Chief |
The members voted for court action.
That's no longer happening through the choice of the trust board and yet the members received no consultation of this change of plan.
Imagine Tory's decided not proceed with brexit and didn't bother telling the electorate despite the democratic vote.
It's the very epitome of a betrayal. | |
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| No court action? on 16:10 - Feb 15 with 4313 views | felixstowe_jack |
The members, me included, voted for legal action if NO OFFERS WERE MADE BY THE CLUB TO COMPENSATE THE TRUST.
Clearly the Club has now made a formal offer so it there a need to pursue legal action? [Post edited 15 Feb 2022 16:14]
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| No court action? on 16:15 - Feb 15 with 4284 views | Chief |
This is no offer that adequately compensates the trust in anyway.
Essentially sold 10% for 500k. Laughable. | |
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| No court action? on 16:16 - Feb 15 with 4267 views | felixstowe_jack |
Read my previous reply.
The trust members voted for legal action if no offer was made from the club.
Clearly the Club have made an offer so why proceed with legal action. | |
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| No court action? on 16:18 - Feb 15 with 4257 views | felixstowe_jack |
The trust have not sold any shares where did you get that nonsense from. | |
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| No court action? on 16:18 - Feb 15 with 4257 views | Chief |
So by that logic the Americans could have offered a quid and that automatically means the trust dropping the case? | |
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| No court action? on 16:19 - Feb 15 with 4251 views | pencoedjack |
I didn't even know the trust still existed.
Haven't received any correspondence from them for months. | | | |
| No court action? on 16:22 - Feb 15 with 4231 views | Chief |
Now we know why! | |
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| No court action? on 16:22 - Feb 15 with 4226 views | onehunglow |
It’s a shame the need was felt to have any Trust whatsoever.
It is all about these cretinous owners and somehow finding new ones that give a monkeys . | |
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| No court action? on 16:22 - Feb 15 with 4228 views | felixstowe_jack |
The Americans have not offered a £ have they.
They trust are keeping all their shares.
The trust shareholdings are being diluted because of NEW investment by the Americans. Something our supporters have been calling for over tye last few years since they took over. | |
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