| OTH Ltd... on 15:17 - Jan 4 with 3793 views | max936 |
| OTH Ltd... on 15:09 - Jan 4 by waynekerr55 |
This just gets better.
By fans, for fans. |
Nothing surprises me with this lot, the way its looking it looks like the sellouts made a fortune long before they sold their shares, no wonder the club hasn't got any money for signings.
They've been laughing at us mugs. |  |
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| OTH Ltd... on 15:31 - Jan 4 with 3725 views | Highjack |
If you type OTH ltd in there's another company where the Morgan's have been directors since 1999. |  |
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| OTH Ltd... on 15:37 - Jan 4 with 3682 views | NOTRAC |
According to the last updated confirmation statement of Swansea City 2002limited (our parent company) , OTH 2015 ltd owned 225,000shares in Swansea City 2002 limited and Swansea Football LLC owned 411,000.
The 225,000 shares more or less represented the Morgans original holding.I am pretty sure that Swansea FootballLLC owned OTH 2015 limited, so it would have been natural for the Americans to have become directors of that company. Something has obviously now happened fo the Morgans to replace them. |  |
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| OTH Ltd... on 15:39 - Jan 4 with 3674 views | londonlisa2001 |
| OTH Ltd... on 15:31 - Jan 4 by Highjack |
If you type OTH ltd in there's another company where the Morgan's have been directors since 1999. |
I assume that people realise the 'TH' bit is Travel House.., | | | |
| OTH Ltd... on 15:48 - Jan 4 with 3620 views | Nookiejack |
OTH Ltd was the company owned by Martin Morgan and Louisa Morgan.
OTH Ltd owned 24% shares in Swansea City Football 2002 Ltd
OTH Ltd transferred the shares to OTH 2015 Ltd (Another Company Owned by Martin Morgan and Louisa Morgan). (Very Interesting if theTrust ever signed this transfer off from a Shareholders Agreement Perspective - precedent etc to show shareholders agreement was in place)
Swansea Football LLC (Delaware Company -owned by Kaplan/Levein and 25 others) - then bought OTH 2015 Ltd off Martin Morgan and Louisa Morgan.
Martin Morgan and Louisa Morgan then appeared to acquire 47,500 shares (5% stake) back off Swansea Football LLC (this was in the Companies House filing as a special dispensation had to be agreed by the Selling Shareholders (Not the Trust) under the articles for this to be done. This residual stake of 5% leaves them at the same 5% residual stake as Huw Jenkins.
Nick please correct me if I am wrong. | | | |
| OTH Ltd... on 15:49 - Jan 4 with 3616 views | MoscowJack |
| OTH Ltd... on 15:06 - Jan 4 by londonlisa2001 |
Come off it Nick.
It was set up 3 months before a draft detailed SPA was in circulation with this lot (as helpfully posted on the internet by Jim White during his recent conversation with various sellers). |
Sorry, Lisa....I wasn't trying to elusive but thought the Moores/Noel deal was closer to the Yanks2 deal than it was.
I've checked my emails (and found so much interesting stuff that's I had forgotten or wasn't so relevant at the time) and you're right, of course, so it does look suspicious.
I don't know why the Trust don't talk to MM, BK, etc (not HJ and LD) to get their versions of what happened at the time (on the record)....although I'm not sure if anyone will believe what the other side is saying.
It's all so ugly and so far from what we once were as a club (on and off the pitch). | |
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| OTH Ltd... on 15:52 - Jan 4 with 3593 views | NOTRAC |
| OTH Ltd... on 15:48 - Jan 4 by Nookiejack |
OTH Ltd was the company owned by Martin Morgan and Louisa Morgan.
OTH Ltd owned 24% shares in Swansea City Football 2002 Ltd
OTH Ltd transferred the shares to OTH 2015 Ltd (Another Company Owned by Martin Morgan and Louisa Morgan). (Very Interesting if theTrust ever signed this transfer off from a Shareholders Agreement Perspective - precedent etc to show shareholders agreement was in place)
Swansea Football LLC (Delaware Company -owned by Kaplan/Levein and 25 others) - then bought OTH 2015 Ltd off Martin Morgan and Louisa Morgan.
Martin Morgan and Louisa Morgan then appeared to acquire 47,500 shares (5% stake) back off Swansea Football LLC (this was in the Companies House filing as a special dispensation had to be agreed by the Selling Shareholders (Not the Trust) under the articles for this to be done. This residual stake of 5% leaves them at the same 5% residual stake as Huw Jenkins.
Nick please correct me if I am wrong. |
So why have the Morgan's gone back in as directors? | |
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| OTH Ltd... on 15:55 - Jan 4 with 3566 views | MoscowJack |
| OTH Ltd... on 15:52 - Jan 4 by NOTRAC |
So why have the Morgan's gone back in as directors? |
I don't get this either. They haven't bought the club back and it's not as if the Yanks2 have sold to anyone else either.
What Nookie's written makes sense but someone like Ux or Lisa would probably make more sense of it. It's all very weird! | |
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| OTH Ltd... on 16:00 - Jan 4 with 3524 views | Nookiejack |
So why or why haven't? the Morgan's gone back in as Directors?
Haven't they got divorced - so would that mean they only now have 2.5% residual stakes each.
Also haven't they assigned any the voting rights? | | | |
| OTH Ltd... on 16:04 - Jan 4 with 3497 views | NOTRAC |
Most of the former shareholders held their football shares in their own companies.These Swansea shares were then transferred to the American holding company at the time of the sale.
With OTH (2015) Limited this was originally Morgans company. For some reason the football shares which were in Oths name were not transferred but the OTH shares were.
This is why Levien and Kaplan became directors of this company.I thought at one time that this company might be used to extract management charges for the benefit of Levien and Kaplan to the detriment of the other American shareholders.Without accounts having been filed it is difficult to know what has happened. | |
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| OTH Ltd... on 16:04 - Jan 4 with 3497 views | Nookiejack |
| OTH Ltd... on 15:55 - Jan 4 by MoscowJack |
I don't get this either. They haven't bought the club back and it's not as if the Yanks2 have sold to anyone else either.
What Nookie's written makes sense but someone like Ux or Lisa would probably make more sense of it. It's all very weird! |
I assume the Yanks required the Morgans to be left with %% residual stake - same as Huw Jenkins (Katzen also had to to the same leaving him with 1% residual stake).
Hence as part of the overall transaction they had to buyback 5% (after first selling 24% re: OTH 2015 Ltd)
Its all in the October 2016 confirmation statement
https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/kCL-rd4roOOWBeO | | | |
| OTH Ltd... on 16:05 - Jan 4 with 3486 views | Nookiejack |
EDIT : I assume the Yanks required the Morgans to be left with 5% residual stake - same as Huw Jenkins (Katzen also had to to the same leaving him with 1% residual stake).
Hence as part of the overall transaction they had to buyback 5% (after first selling 24% re: OTH 2015 Ltd).
It was all done as part of the overall transaction in July 2016.
Its all in the October 2016 confirmation statement
https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/kCL-rd4roOOWBeO | | | |
| OTH Ltd... on 16:06 - Jan 4 with 3482 views | theloneranger |
| OTH Ltd... on 15:39 - Jan 4 by londonlisa2001 |
I assume that people realise the 'TH' bit is Travel House.., |
Original Travel House |  |
| Everyday above ground ... Is a good day! 😎 |
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| OTH Ltd... on 16:08 - Jan 4 with 3461 views | londonlisa2001 |
Nookie's summary seems accurate.
That was the resolution I was referring to.
The only points I would add:
Firstly, the original transfer may well have fallen under permitted transfers Nookie given it was to another company with the same shareholders so wouldn't need Trust approval,
Secondly, there were rumours late last year that the final share sale bits were being tidied up (there was a rumour that Dineen had sold his remaining 1% etc) so shares held in OTH may have now been passed to Swansea Football to allow the UK company to be tidied it and closed. So the Americans wouldn't need to remain as directors. | | | |
| OTH Ltd... on 16:09 - Jan 4 with 3452 views | Nookiejack |
Which companies did Katzen own?
TLR Investments and Five Thirty Limited?
They look like they are Offshore Companies? | | | |
| OTH Ltd... on 16:10 - Jan 4 with 3449 views | londonlisa2001 |
| OTH Ltd... on 15:49 - Jan 4 by MoscowJack |
Sorry, Lisa....I wasn't trying to elusive but thought the Moores/Noel deal was closer to the Yanks2 deal than it was.
I've checked my emails (and found so much interesting stuff that's I had forgotten or wasn't so relevant at the time) and you're right, of course, so it does look suspicious.
I don't know why the Trust don't talk to MM, BK, etc (not HJ and LD) to get their versions of what happened at the time (on the record)....although I'm not sure if anyone will believe what the other side is saying.
It's all so ugly and so far from what we once were as a club (on and off the pitch). |
One of the things I've never understood is why anyone would ever believe that MM didn't know about it from the start. | | | |
| OTH Ltd... on 16:19 - Jan 4 with 3391 views | theloneranger |
| OTH Ltd... on 16:09 - Jan 4 by Nookiejack |
Which companies did Katzen own?
TLR Investments and Five Thirty Limited?
They look like they are Offshore Companies? |
KSITU Ltd ?? | |
| Everyday above ground ... Is a good day! 😎 |
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| OTH Ltd... on 16:23 - Jan 4 with 3374 views | Jango |
| OTH Ltd... on 16:10 - Jan 4 by londonlisa2001 |
One of the things I've never understood is why anyone would ever believe that MM didn't know about it from the start. |
As much as I despise Jenkins, it does annoy me that his puppeteer Morgan gets away with criticism from most. | | | |
| (No subject) (n/t) on 16:27 - Jan 4 with 3353 views | MoscowJack |
| OTH Ltd... on 16:10 - Jan 4 by londonlisa2001 |
One of the things I've never understood is why anyone would ever believe that MM didn't know about it from the start. |
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| OTH Ltd... on 17:15 - Jan 4 with 3219 views | Nookiejack |
| OTH Ltd... on 16:04 - Jan 4 by NOTRAC |
Most of the former shareholders held their football shares in their own companies.These Swansea shares were then transferred to the American holding company at the time of the sale.
With OTH (2015) Limited this was originally Morgans company. For some reason the football shares which were in Oths name were not transferred but the OTH shares were.
This is why Levien and Kaplan became directors of this company.I thought at one time that this company might be used to extract management charges for the benefit of Levien and Kaplan to the detriment of the other American shareholders.Without accounts having been filed it is difficult to know what has happened. |
Bulk Vending Systems (Leigh Dineen's) company kept 1% residual stake as well.
Lisa mentioned above this redial 1% may have recently been sold.
The Dineen family seemed to receive some of the proceeds (£1,132,500) for the sale of the 4% stake -when Bulk Vending System Limited bought back shares from their shareholders (i.e. the Dineen family) on 10th November 2016.
https://beta.companieshouse.gov.uk/company/02981147/filing-history
(See 14th Dec 16 filing)
https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/g3tSdBUod_Jk9Er | | | |
| OTH Ltd... on 17:19 - Jan 4 with 3193 views | londonlisa2001 |
I said there were rumours it had been.
It was mentioned on here. | | | |
| OTH Ltd... on 17:22 - Jan 4 with 3175 views | clloy2 |
| OTH Ltd... on 14:46 - Jan 4 by waynekerr55 |
Rather telling that the company was set up in September 2015, don't you think? |
Ouch | | | |
| OTH Ltd... on 17:24 - Jan 4 with 3162 views | Nookiejack |
| OTH Ltd... on 17:19 - Jan 4 by londonlisa2001 |
I said there were rumours it had been.
It was mentioned on here. |
Yes understood - I think I recall someone saying that on a post on here and it wasn't you.
You wonder whether Katzen also sold his 1% at the same time if Dineen was allowed to. | | | |
| OTH Ltd... on 17:40 - Jan 4 with 3106 views | Highjack |
| OTH Ltd... on 15:39 - Jan 4 by londonlisa2001 |
I assume that people realise the 'TH' bit is Travel House.., |
If I'm honest I didn't.  | |
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