| From The Trust 09:59 - Jan 6 with 27500 views | Phil_S |
News from the Trust
Discussions on sale of Trust shares put on hold.
Dear Phil
We have been advised by the majority owners of Swansea City that they intend to put discussions around the sale of some of the Trust's shares to the owners of the club on hold. When informing us of this, the owners of the club cited the ongoing concerns among some Trust and Trust Board members about aspects of the share sale and also the majority owners own desire to concentrate on on-field matters.
As the mandate from Trust members to sell shares was given in July 2017 and there will now be a further delay in fulfilling that mandate, the Trust Board can confirm that a further members’ consultation will take place to ensure the Trust Board is acting on the current views of its membership on how we proceed from this point.
We will provide a further update to members as soon as possible.
Best wishes
The Swans Trust Team |  | | |  |
| From The Trust on 11:45 - Jan 6 with 1776 views | max936 |
| From The Trust on 11:28 - Jan 6 by swancity |
There are several arses now "making buttons" as my grandfather used to say. |
Sweaty arse syndrome its fondly called.  |  |
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| From The Trust on 11:48 - Jan 6 with 1763 views | Dan_Swan |
| From The Trust on 11:26 - Jan 6 by monmouth |
The cut off date for the vote needs to be considered carefully. Could be an influx of Yankee soldiers. Don’t underestimate the lengths these will go to.
In fact, given what’s happened, if the Board is now United, just Sue their arses off. You have the power. Forget any vote. I would say that now though....
Seriously, I think it is entirely defensible. They are clearly reneging on a deal that heavily favoured them, with the usual accompanying bullshit. There is no possible future relationship, and there is no future point in a minority shareholding with Venkys mark 2.
Or give two choices on the vote
1) Immediate legal action or
2) Legal action when relegation is confirmed |
With what you have said in the first paragraph "influx of yankee soldiers", I would also add perhaps former board members may also try to assemble a "voting army" to influence the outcome of a potential vote.
With this in mind could it be worth the Trust only allowing those members who originally had the vote to cast again?
i.e. allow new applications but with restrictions specifically for this matter. This isn't to make it a closed shop, it's just to protect the integrity of the process. |  |
| Still following Dr's orders! |
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| From The Trust on 11:49 - Jan 6 with 1753 views | Nookiejack |
It’s got to be legal action straight away.
It will take time so if you waited until the end of the season before you know it you will be starting the next season in August. So they will put out another statement saying we should wait until the end of the next season.....and so it goes on.
We are now 18 months down the road since the sale. |  | | |
| From The Trust on 11:52 - Jan 6 with 1734 views | 34dfgdf54 |
| From The Trust on 11:48 - Jan 6 by Dan_Swan |
With what you have said in the first paragraph "influx of yankee soldiers", I would also add perhaps former board members may also try to assemble a "voting army" to influence the outcome of a potential vote.
With this in mind could it be worth the Trust only allowing those members who originally had the vote to cast again?
i.e. allow new applications but with restrictions specifically for this matter. This isn't to make it a closed shop, it's just to protect the integrity of the process. |
Not really, I’d assume some weren’t sure which way to vote so chose not too. Those may, and probably now know which way to go to ensure the safety of the club long term. |  | | |
| From The Trust on 11:55 - Jan 6 with 1715 views | Nookiejack |
I really think they will only buy the Trust’s shares on the basis can they achieve their targeted Internal Rate of Return for their consortium.
With us heading for the championship there is no way they can achieve it - so have called the deal off.
If they are sued - they have the safety net of the warranties the Selling Shareholders gave them about there being no original Shareholders Agreement. | | | |
| From The Trust on 11:56 - Jan 6 with 1707 views | Uxbridge |
There'll be a vote.
It'll be current members.
There'll be a cut off but no discussions yet when that will be.
I don't think bypassing a democratic vote does anyone any favours. All is well with those who agree with the decision, but it'd leave plenty disenfranchised. |  |
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| From The Trust on 11:58 - Jan 6 with 1690 views | max936 |
| From The Trust on 11:52 - Jan 6 by 34dfgdf54 |
Not really, I’d assume some weren’t sure which way to vote so chose not too. Those may, and probably now know which way to go to ensure the safety of the club long term. |
I think more should be done to get the truth out there, so everyone can see that there's no middle ground here, the message has been getting out there, but now's the time to really put the foot on the accelerator, straight to legal action would be my option, but the Trust says its going to another vote, fair enough, but lets get the message out there. | |
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| From The Trust on 12:01 - Jan 6 with 1670 views | Neath_Jack |
| From The Trust on 11:58 - Jan 6 by max936 |
I think more should be done to get the truth out there, so everyone can see that there's no middle ground here, the message has been getting out there, but now's the time to really put the foot on the accelerator, straight to legal action would be my option, but the Trust says its going to another vote, fair enough, but lets get the message out there. |
I said it right at the start, that the Trust should take out a full page spread in the Western Mail / Evening Post, explaining in simple language just what the f*ck has gone on. There has to be a big push to get the full story out there, written in an easy to understand tone. |  |
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| From The Trust on 12:08 - Jan 6 with 1641 views | QJumpingJack |
I would imagine the Americans will be long gone if/when this gets to court.
They will want to get out if we go down surely hence the delaying tactics. | | | |
| From The Trust on 12:12 - Jan 6 with 1619 views | monmouth |
| From The Trust on 11:56 - Jan 6 by Uxbridge |
There'll be a vote.
It'll be current members.
There'll be a cut off but no discussions yet when that will be.
I don't think bypassing a democratic vote does anyone any favours. All is well with those who agree with the decision, but it'd leave plenty disenfranchised. |
Quite right I’m sure. I’d rather just have my own preference than all this democracy shite though.
Yours
Monmouth Jong-un |  |
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| From The Trust on 12:18 - Jan 6 with 1604 views | Nookiejack |
Looking forward to the alternative voting system Uxbridge comes up with this time.
There will have to be one given there was one last time. | | | |
| From The Trust on 12:23 - Jan 6 with 1590 views | max936 |
| From The Trust on 12:01 - Jan 6 by Neath_Jack |
I said it right at the start, that the Trust should take out a full page spread in the Western Mail / Evening Post, explaining in simple language just what the f*ck has gone on. There has to be a big push to get the full story out there, written in an easy to understand tone. |
It has been getting out there lately NJ in fairness, but this should put an extra spring into the step. | |
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| From The Trust on 12:30 - Jan 6 with 1557 views | Darran |
| From The Trust on 12:01 - Jan 6 by Neath_Jack |
I said it right at the start, that the Trust should take out a full page spread in the Western Mail / Evening Post, explaining in simple language just what the f*ck has gone on. There has to be a big push to get the full story out there, written in an easy to understand tone. |
There’s no doubt this statement from the club will be splashed all over the EP and Western Mail with a slant towards the Fans/Trust have caused on the pitch problems and put us bottom of the League. |  |
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| From The Trust on 12:36 - Jan 6 with 1543 views | Nookiejack |
The Trust now has to monitor the Management Fees (Yanks receive 100% of them).
They need to get £68m out of the club.
If we are relegated - they will sell al the players left with value and bank the parachute money.
If they then pay a dividend Trust receives 21%.
If Pay Management Fees Trust receives Zilch.
Stu McDonald is apparently an accountant hopefully he will step up to the plate. | | | |
| From The Trust on 12:36 - Jan 6 with 1541 views | Landore_Jack |
| From The Trust on 12:23 - Jan 6 by max936 |
It has been getting out there lately NJ in fairness, but this should put an extra spring into the step. |
Two former Trust members have been putting their views across. Not much has been said by SM or AL. In fact, it was recommended by Cath that we should trust the board. I have no faith in the trust. Thank god it was the owners that put the sale of shares on hold. The Trust were pressing ahead with the deal. I doubt the Trust will have the balls to take legal action. They are too busy building bridges. [Post edited 6 Jan 2018 12:40]
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| From The Trust on 12:39 - Jan 6 with 1523 views | E20Jack |
Great news.
Less great news is that I now have to join this shambkes of an organisation.
Does anyone know if I can withdraw my membership after the vote? |  |
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| From The Trust on 12:42 - Jan 6 with 1505 views | Neath_Jack |
| From The Trust on 11:15 - Jan 6 by exiledclaseboy |
27 investors but I doubt anyone other than “Steve and Jase” are involved in decision making. |
I'd agree with you on the "day to day" stuff, but surely this is a massive step they are taking. Surely they're anticipating this to lead to legal action, which i would have thought their investors would need to know about, possibly have a say in?
I've no idea mind, i'm just thinking if it was me that had given them a couple of quid to look after for me, i'd want in on the big decisions. | |
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| From The Trust on 12:44 - Jan 6 with 1495 views | exiledclaseboy |
| From The Trust on 12:39 - Jan 6 by E20Jack |
Great news.
Less great news is that I now have to join this shambkes of an organisation.
Does anyone know if I can withdraw my membership after the vote? |
Once you join you’re a member till the end of July next year. It’s like Royston Vasey with a time limit. |  |
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| From The Trust on 12:46 - Jan 6 with 1473 views | E20Jack |
| From The Trust on 12:44 - Jan 6 by exiledclaseboy |
Once you join you’re a member till the end of July next year. It’s like Royston Vasey with a time limit. |
Thought that may be the answer.
I'm stunned that it has taken American greed to stop this deal. Its a peverse irony that the very thing that is killing our club, may well also be the catalyst to save it. | |
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| From The Trust on 12:48 - Jan 6 with 1460 views | exiledclaseboy |
| From The Trust on 12:42 - Jan 6 by Neath_Jack |
I'd agree with you on the "day to day" stuff, but surely this is a massive step they are taking. Surely they're anticipating this to lead to legal action, which i would have thought their investors would need to know about, possibly have a say in?
I've no idea mind, i'm just thinking if it was me that had given them a couple of quid to look after for me, i'd want in on the big decisions. |
I’m not sure that’s what they’re anticipating to be honest. I don’t know mind having never met them. My view is that they don’t fancy spending another £5m at least on yet more shares on what will be a championship club in a few months. Perhaps they don’t think legal action is a viable option or that the trust won’t go down that route. Who knows. I certainly don’t! | |
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| From The Trust on 12:49 - Jan 6 with 1444 views | exiledclaseboy |
| From The Trust on 12:46 - Jan 6 by E20Jack |
Thought that may be the answer.
I'm stunned that it has taken American greed to stop this deal. Its a peverse irony that the very thing that is killing our club, may well also be the catalyst to save it. |
This is purely a personal view but I’m also disappointed that the owners of the club stopped the sale before the Trust did. | |
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| From The Trust on 12:50 - Jan 6 with 1439 views | barry_island |
| From The Trust on 12:48 - Jan 6 by exiledclaseboy |
I’m not sure that’s what they’re anticipating to be honest. I don’t know mind having never met them. My view is that they don’t fancy spending another £5m at least on yet more shares on what will be a championship club in a few months. Perhaps they don’t think legal action is a viable option or that the trust won’t go down that route. Who knows. I certainly don’t! |
Would legal action be against the Americans or the former owners? | |
| Swansea City, THE Austerity Club. |
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| From The Trust on 12:50 - Jan 6 with 1430 views | Uxbridge |
| From The Trust on 12:18 - Jan 6 by Nookiejack |
Looking forward to the alternative voting system Uxbridge comes up with this time.
There will have to be one given there was one last time. |
Love you Stu. Don't ever change. | |
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| From The Trust on 12:51 - Jan 6 with 1419 views | londonlisa2001 |
| From The Trust on 12:36 - Jan 6 by Nookiejack |
The Trust now has to monitor the Management Fees (Yanks receive 100% of them).
They need to get £68m out of the club.
If we are relegated - they will sell al the players left with value and bank the parachute money.
If they then pay a dividend Trust receives 21%.
If Pay Management Fees Trust receives Zilch.
Stu McDonald is apparently an accountant hopefully he will step up to the plate. |
Paying excessive management fees is a very clear prejudice against the minority shareholder.
I would imagine they will have received that advice. | | | |
| From The Trust on 12:51 - Jan 6 with 1418 views | Polskijack |
| From The Trust on 11:56 - Jan 6 by Uxbridge |
There'll be a vote.
It'll be current members.
There'll be a cut off but no discussions yet when that will be.
I don't think bypassing a democratic vote does anyone any favours. All is well with those who agree with the decision, but it'd leave plenty disenfranchised. |
I have just rejoined so I hope to get to vote to sue the bstrds! |  | | |
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