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Trust members’ forum tonight. 20:00 - Dec 14 with 31080 viewsexiledclaseboy

Chairman’s opening remarks reproduced below.


Prior to the start of tonight’s Forum. Nigel Hamer, Secretary to the Swans Trust Board announced that current Trust Vice Chairman, Alan Lewis will be taking up the vacant position of Trust Chairman with immediate effect. Alan will also take on the position of Associate Director of the Club previously held by Will Morris.

Alan Lewis then addressed the Members Forum

Tonight’s Forum is as much an opportunity for members to ask questions as it is for us as a Trust Board to update you on recent events. We will open up the floor for questions after providing the update but first I thought it would be helpful to introduce you to those members of the Trust Board who have been able to join us tonight. It is particularly pleasing to welcome some of the new co-opted members who joined the Board earlier this week. There has been criticism that all the Trust Board are not known to members and one of the things we will be implementing shortly is to update the ‘Meet the Trust Board’area of the website with a short profile on each Board Members and a photo.

Just to go back over the events of the last few months; a period which has been something of a turbulent one both for the Trust off the field and the team on the pitch.

We have to start back in the Summer when members who voted in our consultation exercise provided a clear mandate to the Trust Board to pursue the sale of some shares to the majority shareholders on the terms outlined in the consultation pack which was sent to all members. We have to remember that this was the most comprehensive consultation exercise ever carried out by this organisation and yes there was a clear recommendation from the Trust Board but equally the alternative options were comprehensively covered in the documentation sent out to members.

Discussions then started with the majority shareholders legal team on drawing up the detailed paperwork to formalise the whole deal into a share purchase agreement. Progress was initially slow and it was not until October that questions emerged around some of the detailed aspects of the deal. There were a number of clarifications which were required around the wording of various clauses in the draft agreement we were considering. These clauses were still under discussion however and the main focus at that point was around the financial features of the deal. Whilst the gross figures quoted in the consultation exercise were confirmed, details emerged of a payment structure which, whilst in line with that payable to the previous shareholders in 2016, contained further detail which we had been unaware of. The payment structure was not therefore consistent with the figures featured in the consultation documents.

Questions around the payment structure were raised with the majority shareholders who pointed out that it was in line with the original deal with the previous shareholders. The debate around how we should then move forward led to a difference of views amongst the Trust Board with the majority view being that discussions should continue but always on the understanding that if terms could not be brought back in line with the consultation exercise we would go back to our members. Phil Sumbler felt at that point that in view of the information that had already been communicated to our members, he could not lead the Trust down that path. In his view the working relationship with the Majority Shareholders had broken down. Matt Griffiths also resigned for similar reasons.

Whilst disappointed to lose Phil and Matt the rest of the Trust Board agreed that the discussions between the legal teams should continue. As highlighted in our statement to members of 24 November there has been positive progress, with the majority owners being receptive in helping to find an amenable solution to allow the deal to move forward. The concerns around the financial aspects of the deal have been resolved and the payments are now fully in line with the detail provided to members in our consultation documentation

Discussions on the wording of various clauses comprising the proposed Share Holders Agreement have continued between the Legal Teams. One area of discussion has been around the original proposal, contained in the consultation papers, to consider providing 20% of the proceeds of the sale for stadium improvement/expansion. The important element, being set into the agreement is that any decision will be taken by members once detailed proposals have been made available. Other ways in which the proceeds from this sale can be used are governed to some extent by our rules and supporting legislation and this also needs to be covered. Other areas of discussion have been around the ability of the Trust Board as shareholders, to raise concerns around the actions of other shareholders etc. The Trust Board is conscious of its role as a shareholder and Director in the Football Club and its obligations around confidentiality and collective responsibility. At the same time it needs to reserve the right to voice the concerns of its members in an appropriate manner and we want to ensure that is clear in any agreement.

As a Trust Board we would have liked to have had this finalised by now but we have always acknowledged the need to ensure that the final product is in line with the detail provided to members in the Summer. Despite some of the queries that have arisen during this negotiation period, we now feel that we are close to finalising an agreement which will be fully in line with the detail provided in the members consultation documents. We are not quite there yet however and the commitment remains that if the final paperwork does not reflect the detail in the consultation documents then we will consult further with members.

We have another topic of general interest which we would like to update you on but perhaps before I mention that we can pause at this point and open up the floor for questions around what has been said so far.

School’s Enterprise Challenge

For some time now the Swans Trust board has been looking at ways to engage with the younger generation of Swans fans so that they are aware of its origins, purpose and ongoing work. Trust Board Members have been working with the Welsh Joint Examining Committee (WJEC) to develop an optional Enterprise Challenge as part of the Welsh Baccalaureate Qualification for 14-16 year olds. That qualification is a compulsory part of the curriculum for pupils of that age and the Trust’s Challenge would be an option within that. The WJEC have recently approved the Challenge, meaning that youngsters will in the future have the opportunity to come into contact and work with the Trust as part of their everyday studies. Hopefully this will lead to some of them having a greater ongoing involvement in the years to come.

The task now facing the board is to gradually roll out the challenge to schools in order to give pupils the opportunity to participate.

If any member would like further information about the Enterprise Challenge they can contact info@swanstrust.co.uk

Please mark the email for the attention of Sian Davies (Schools in Neath Port Talbot and to the East) or Roger Goodwin (Schools in Swansea and to the West)

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Trust members’ forum tonight. on 20:15 - Dec 14 with 6774 viewsItchySphincter

How's that for. Immunisation. :)

Sorry I couldn't be there tonight.

‘……. like a moth to Itchy’s flame ……’
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Trust members’ forum tonight. on 20:35 - Dec 14 with 6688 viewsmax936

How long as Alan been on the Board I wonder, not 12yrs is it?

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Trust members’ forum tonight. on 20:45 - Dec 14 with 6626 viewsNeathJack

Trust members’ forum tonight. on 20:35 - Dec 14 by max936

How long as Alan been on the Board I wonder, not 12yrs is it?


Since 2008 I believe.
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Trust members’ forum tonight. on 20:55 - Dec 14 with 6568 viewsGaryjack

Trust members’ forum tonight. on 20:45 - Dec 14 by NeathJack

Since 2008 I believe.


2010
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Trust members’ forum tonight. on 20:56 - Dec 14 with 6554 viewsunion_jack

I take it you were there Clasie. Would you like to fill in the rest on the board' s refusal to entertain pulling the selling of the shares deal or even take a vote of hands.

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Trust members’ forum tonight. on 21:01 - Dec 14 with 6506 viewsexiledclaseboy

Trust members’ forum tonight. on 20:56 - Dec 14 by union_jack

I take it you were there Clasie. Would you like to fill in the rest on the board' s refusal to entertain pulling the selling of the shares deal or even take a vote of hands.


I’m not there I’m afraid. Not a good look for a newbie I know but I couldn’t rearrange stuff, especially after Tuesday’s board meeting and last night’s game. It was too short notice.

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Trust members’ forum tonight. on 21:02 - Dec 14 with 6501 viewsPegojack

20% of the proceeds to go back to the yanks for 'stadium expansion'.

No feckin way, Jose....
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Trust members’ forum tonight. on 21:02 - Dec 14 with 6498 viewsmax936

Trust members’ forum tonight. on 20:35 - Dec 14 by max936

How long as Alan been on the Board I wonder, not 12yrs is it?


They surely cannot finalise the share sale, if those in those positions to do so haven't the mandate to make the agreement if they have done their 12yrs?

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Trust members’ forum tonight. on 21:05 - Dec 14 with 6475 viewsmax936

Trust members’ forum tonight. on 21:02 - Dec 14 by Pegojack

20% of the proceeds to go back to the yanks for 'stadium expansion'.

No feckin way, Jose....


Init, we're selling ourselves short here, we can see it yet they cannot, why?

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Trust members’ forum tonight. on 21:06 - Dec 14 with 6439 viewsPrivate_Partz

Trust members’ forum tonight. on 21:02 - Dec 14 by Pegojack

20% of the proceeds to go back to the yanks for 'stadium expansion'.

No feckin way, Jose....


That is the way i read as well.
I thought the finance gained from this sale would be held pending the rainy day that seems to be coming at us at the speed of an express train.

You have mission in life to hold out your hand, To help the other guy out, Help your fellow man. Stan Ridgway

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Trust members’ forum tonight. on 21:07 - Dec 14 with 6424 viewsunion_jack

Trust members’ forum tonight. on 21:02 - Dec 14 by max936

They surely cannot finalise the share sale, if those in those positions to do so haven't the mandate to make the agreement if they have done their 12yrs?


Nigel Davies raised the point that the deal should be pulled but it was denied. Wouldn't even take a show if hands and apparently want to get the whole thing finalised asap.

Something is not right here. There needs to be a vote of no confidence put forward now as I don't believe the Trust are looking after the club;s best interest.

Andrew, shame you weren't there.

I wasn't there either but the SCSA WhatsApp messages have been keeping us informed.

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Trust members’ forum tonight. on 21:08 - Dec 14 with 6417 viewsSwanzay

"Discussions on the wording of various clauses comprising the proposed Share Holders Agreement have continued between the Legal Teams. One area of discussion has been around the original proposal, contained in the consultation papers, to consider providing 20% of the proceeds of the sale for stadium improvement/expansion."

Feck me, am I actually reading that correctly, the Trust is becoming a potential donor for the Stadium expansion?

Whats the point of having increased capacity atm.

Where is the we have screwed up big time, in that statement and we are going to make changes.


That is one alarming statement of no change, carry on regardless, so far!

"Discussions on the wording of various clauses comprising the proposed Share Holders Agreement have continued between the Legal Teams." Dont me laugh more!

What a shocking statement
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Trust members’ forum tonight. on 21:09 - Dec 14 with 6416 viewsexiledclaseboy

Trust members’ forum tonight. on 21:02 - Dec 14 by Pegojack

20% of the proceeds to go back to the yanks for 'stadium expansion'.

No feckin way, Jose....


As I understand it (and I could be wrong) the decision on that will be taken by the members.

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Trust members’ forum tonight. on 21:11 - Dec 14 with 6397 viewsNeathJack

Trust members’ forum tonight. on 21:09 - Dec 14 by exiledclaseboy

As I understand it (and I could be wrong) the decision on that will be taken by the members.


If it's anything like the share sale fiasco, it'll fly through any vote if the Trust recommend it.

FFS.
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Trust members’ forum tonight. on 21:11 - Dec 14 with 6394 viewsmax936

Trust members’ forum tonight. on 21:07 - Dec 14 by union_jack

Nigel Davies raised the point that the deal should be pulled but it was denied. Wouldn't even take a show if hands and apparently want to get the whole thing finalised asap.

Something is not right here. There needs to be a vote of no confidence put forward now as I don't believe the Trust are looking after the club;s best interest.

Andrew, shame you weren't there.

I wasn't there either but the SCSA WhatsApp messages have been keeping us informed.


Finalised before the AGM that's apparently gonna discuss the 12yr term, how convenient.
The Trust Fans for the Fans.

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Trust members’ forum tonight. on 21:13 - Dec 14 with 6375 viewsSwanzay

Trust members’ forum tonight. on 21:07 - Dec 14 by union_jack

Nigel Davies raised the point that the deal should be pulled but it was denied. Wouldn't even take a show if hands and apparently want to get the whole thing finalised asap.

Something is not right here. There needs to be a vote of no confidence put forward now as I don't believe the Trust are looking after the club;s best interest.

Andrew, shame you weren't there.

I wasn't there either but the SCSA WhatsApp messages have been keeping us informed.


A complete farce AGAIN!
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Trust members’ forum tonight. on 21:14 - Dec 14 with 6369 viewsbermudajack

The 20% towards the stadium expansion was on the voting literature in the original vote...

I couldn’t understand why the Trust would agree to this and endorse it back then, it completely baffles me even now...

These yanks aren’t stupid, they’ve made millions by making others pay for improvements to stadiums... (see what they did in the states) make money at all costs... it’s what a hedge fund is all about right?

Need to rid our club of these parasites and ban the sellouts that took their dirty cash and invited them in

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Trust members’ forum tonight. on 21:19 - Dec 14 with 6297 viewsSwanzay

Trust members’ forum tonight. on 21:09 - Dec 14 by exiledclaseboy

As I understand it (and I could be wrong) the decision on that will be taken by the members.


Were you not privy to that statement ECB and did it not ring alarm bells with you, seems they are hell bent on doing a deal before you new members can act?
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Trust members’ forum tonight. on 21:20 - Dec 14 with 6285 viewsmax936

Trust members’ forum tonight. on 21:08 - Dec 14 by Swanzay

"Discussions on the wording of various clauses comprising the proposed Share Holders Agreement have continued between the Legal Teams. One area of discussion has been around the original proposal, contained in the consultation papers, to consider providing 20% of the proceeds of the sale for stadium improvement/expansion."

Feck me, am I actually reading that correctly, the Trust is becoming a potential donor for the Stadium expansion?

Whats the point of having increased capacity atm.

Where is the we have screwed up big time, in that statement and we are going to make changes.


That is one alarming statement of no change, carry on regardless, so far!

"Discussions on the wording of various clauses comprising the proposed Share Holders Agreement have continued between the Legal Teams." Dont me laugh more!

What a shocking statement


Yanks tying the Trust Board up in knots Shocker, never mind they'll have their bellies tickled again after the deal is signed and sealed the champers will be flowing.
Overwhelming vote, yes it was when the majority of the members didn't have a clue as to what had passed in the sellout and how the Trust a major shareholder owning 1/5th of the club was kept in the dark and stabbed in the back.

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Trust members’ forum tonight. on 21:22 - Dec 14 with 6224 viewsexiledclaseboy

Trust members’ forum tonight. on 21:19 - Dec 14 by Swanzay

Were you not privy to that statement ECB and did it not ring alarm bells with you, seems they are hell bent on doing a deal before you new members can act?


I was sent out in advance of publication but I was working so didn’t see it till late. But (and correct me if I’m wrong) the 20% back to the club for stadium expansion was part if the original terms outlined in the consultation in the summer. So it’s not new news, if you know what I mean.
[Post edited 14 Dec 2017 21:29]

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Trust members’ forum tonight. on 21:24 - Dec 14 with 6200 viewsBobby_Fischer

Stadium expansion?

WTF for?

So basically they want to sell the Trust's' shares, give them a shit deal and then ask for 20% of the money back?

[Post edited 14 Dec 2017 21:25]

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Trust members’ forum tonight. on 21:28 - Dec 14 with 6128 viewsDr_Winston

The stable door is being shut well and truly after the horse has bolted when it comes to stadium expansion.

Should have been done four years ago. Now it's hard to avoid the belief that it's only being done to increase club value whilst convincing the Trust to foot much of the bill.

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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Trust members’ forum tonight. on 21:33 - Dec 14 with 6099 viewsSwanzay

Trust members’ forum tonight. on 21:22 - Dec 14 by exiledclaseboy

I was sent out in advance of publication but I was working so didn’t see it till late. But (and correct me if I’m wrong) the 20% back to the club for stadium expansion was part if the original terms outlined in the consultation in the summer. So it’s not new news, if you know what I mean.
[Post edited 14 Dec 2017 21:29]


Are you not annoyed by that statement for an introductory statement by a new chairman....


ignoring the expansion donor part.

The fact that the Trust agreed to that on Phils watch is even more mind blowing, just who is negotiating and agreeing to this shite!

The Trust is a MESS!
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Trust members’ forum tonight. on 21:36 - Dec 14 with 5967 viewsmax936

Trust members’ forum tonight. on 21:28 - Dec 14 by Dr_Winston

The stable door is being shut well and truly after the horse has bolted when it comes to stadium expansion.

Should have been done four years ago. Now it's hard to avoid the belief that it's only being done to increase club value whilst convincing the Trust to foot much of the bill.


Sticks out a mile to us, so why doesn't it to them, unbelievable.

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Trust members’ forum tonight. on 21:37 - Dec 14 with 5943 viewsSwanzay

Who is Alan Lewis, can someone please clarify?
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