| What is a convertable loan note? Pros and cons on 14:48 - Dec 24 with 3173 views | ReslovenSwan1 |
From Mr Winters,
"Last week you may have seen the Companies House registration of funding via a convertible loan note coming in from our ownership group. That money matches the investment made by Jake Silverstein, who was appointed onto the club’s Board of Directors in August."
That loan was for £5m I recall. Does that not mean the total loans was £10m? If the loan is converted into equity at a discounted rate than the mnor shareholders can expect a significant dilution. This is not a bad thing in my opinion. Silverstein may want to be a 10% shareholder perhaps.? |  |
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| What is a convertable loan note? Pros and cons on 14:57 - Dec 24 with 3164 views | Chief |
An obvious con is it's another person who'll want their money back at some point. Possibly from money that could be the football clubs. [Post edited 24 Dec 2020 14:59]
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| What is a convertable loan note? Pros and cons on 17:57 - Dec 24 with 3102 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 14:57 - Dec 24 by Chief |
An obvious con is it's another person who'll want their money back at some point. Possibly from money that could be the football clubs. [Post edited 24 Dec 2020 14:59]
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An obvious con? It looks like an investment to me if the conditions are met. This is what fans have been calling for for over a decade. It could be upto £10m based on the Companies house informatin and Winter's comments. Because it pays little interest the new equity will be issued at a discounted valuation at the expense of the non contributing shareholders.
I have produced for you in particular what is a 'convertable loan note'. Your response suggests you do not understand it very well. Given that Silverstein is already on the board he will not be taking his money back for some time unless the club is sold. Instead he will be buying cheap Swansea city shares. | |
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| What is a convertable loan note? Pros and cons on 19:08 - Dec 24 with 3078 views | Chief |
| What is a convertable loan note? Pros and cons on 17:57 - Dec 24 by ReslovenSwan1 |
An obvious con? It looks like an investment to me if the conditions are met. This is what fans have been calling for for over a decade. It could be upto £10m based on the Companies house informatin and Winter's comments. Because it pays little interest the new equity will be issued at a discounted valuation at the expense of the non contributing shareholders.
I have produced for you in particular what is a 'convertable loan note'. Your response suggests you do not understand it very well. Given that Silverstein is already on the board he will not be taking his money back for some time unless the club is sold. Instead he will be buying cheap Swansea city shares. |
I don't think fans want investment from random individuals whom we know virtually nothing about about and know nothing of their intentions.
How does my response suggest that? Easy to say that because you don't like or agree with my opinion. Fact is its more money been into the club from someone that's going to want it back at some point with profit. This could come in the forms of dividends that could of course be left in the club for club use.
Do you have to be on the board for a minimum amount of time then? Couldn't he just step down from the board tomorrow if he wanted to? | |
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| What is a convertable loan note? Pros and cons on 20:11 - Dec 24 with 3061 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 19:08 - Dec 24 by Chief |
I don't think fans want investment from random individuals whom we know virtually nothing about about and know nothing of their intentions.
How does my response suggest that? Easy to say that because you don't like or agree with my opinion. Fact is its more money been into the club from someone that's going to want it back at some point with profit. This could come in the forms of dividends that could of course be left in the club for club use.
Do you have to be on the board for a minimum amount of time then? Couldn't he just step down from the board tomorrow if he wanted to? |
Mr Silverstein is not a 'random' individual. He is a sports investor and has a good relationship with the current owners. I have not studied his resume in details but he appears to have good credentials and sound ethics.
Dividends are a good thing and of couse have to be shared with the Trust. Historically he club under HJ always reinvested spare cash. You either want investment or you do not. Fans have been demanding the ownersto put in their own money for decades. When they do the fans complain they might profit from it. They are not running the NHS.
Silverstein cannot profit from the club with his loan alone as this is percieved to be getting minimal interest. Stepping down tommorrow would leave the club a serious cash flowproblem and needing to find £5m in the transfer window. This would not be welcome.
The convertable loan note is designed ultimately to buy shares in the club. As I have tried to expalin before football inflation is far greater than general inflation as indicated by the purchase price of Burnley £200m and Derby Co £60m. He may also benefit from currency changes follwing Brexit particualrly any strengthening of Sterling.
Anyway I hope I can convince fans to see things in a more progressive less prejudiced manner by putting out educational material and explaining the majority owners point of view. | |
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| What is a convertable loan note? Pros and cons on 21:02 - Dec 24 with 3044 views | Chief |
| What is a convertable loan note? Pros and cons on 20:11 - Dec 24 by ReslovenSwan1 |
Mr Silverstein is not a 'random' individual. He is a sports investor and has a good relationship with the current owners. I have not studied his resume in details but he appears to have good credentials and sound ethics.
Dividends are a good thing and of couse have to be shared with the Trust. Historically he club under HJ always reinvested spare cash. You either want investment or you do not. Fans have been demanding the ownersto put in their own money for decades. When they do the fans complain they might profit from it. They are not running the NHS.
Silverstein cannot profit from the club with his loan alone as this is percieved to be getting minimal interest. Stepping down tommorrow would leave the club a serious cash flowproblem and needing to find £5m in the transfer window. This would not be welcome.
The convertable loan note is designed ultimately to buy shares in the club. As I have tried to expalin before football inflation is far greater than general inflation as indicated by the purchase price of Burnley £200m and Derby Co £60m. He may also benefit from currency changes follwing Brexit particualrly any strengthening of Sterling.
Anyway I hope I can convince fans to see things in a more progressive less prejudiced manner by putting out educational material and explaining the majority owners point of view. |
But of course no actual link to Swansea,the area or football in this country at all.
No, the sellouts took dividends so patently didn't reinvest spare cash all the time (the trust also benefitted from this) . I can only speak for myself but personally i dont want the club to be in debt to a hedgefund.
He can profit from a loan - interest. You predict it presents us with a cash flow issue. Might be true to some extent but with the amount of players we've sold, we should be receiving regular installments. You've missed my point. You made a point that he would be around for ages just because he's on the board. That's not necessarily the case.
Yes two clubs that months on after you bringing them up still haven't actually been bought.
Nothing to explain really. An guy has put money into the club but will want it back at some point plus profit potentially at the expense of the club's funds. That can't really be denied can it? | |
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| What is a convertable loan note? Pros and cons on 22:36 - Dec 24 with 3016 views | Dr_Winston |
People need to decide what they do want.
If we want "investment" from an outside source then we have to accept that a return will be required. If we'd rather the club pay its own way then player sales and occasional reluctance to spend on anything, be it Academy costs or player signings may be needed now and then.
Personally I'd rather the club be sustainable within its own income stream and thus highly unlikely to end up in the financial shit again. It might not be as exciting, we may occasionally fall short for want of a player or two, but I can live with that. We've diced with danger too often as it is.
Others might prefer to moan, demand signings and come up the ever tedious allegations of asset stripping. |  |
| 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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| What is a convertable loan note? Pros and cons on 23:31 - Dec 24 with 3000 views | Chief |
| What is a convertable loan note? Pros and cons on 22:36 - Dec 24 by Dr_Winston |
People need to decide what they do want.
If we want "investment" from an outside source then we have to accept that a return will be required. If we'd rather the club pay its own way then player sales and occasional reluctance to spend on anything, be it Academy costs or player signings may be needed now and then.
Personally I'd rather the club be sustainable within its own income stream and thus highly unlikely to end up in the financial shit again. It might not be as exciting, we may occasionally fall short for want of a player or two, but I can live with that. We've diced with danger too often as it is.
Others might prefer to moan, demand signings and come up the ever tedious allegations of asset stripping. |
Doesn't really matter what we want or decide we want. We are where we are.
I'm with you, id rather be self sufficient. We've done it before so proves that isn't an impossible dream and we're not far off doing it now even during a pandemic.
When we are owned by an American consortium who are going to want a return i will forever be weary and mindful of the fact that they could be taking money out of the club, even though some decide to bury theor heads in the sand. | |
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| What is a convertable loan note? Pros and cons on 16:14 - Dec 25 with 2894 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 23:31 - Dec 24 by Chief |
Doesn't really matter what we want or decide we want. We are where we are.
I'm with you, id rather be self sufficient. We've done it before so proves that isn't an impossible dream and we're not far off doing it now even during a pandemic.
When we are owned by an American consortium who are going to want a return i will forever be weary and mindful of the fact that they could be taking money out of the club, even though some decide to bury theor heads in the sand. |
If the club is sold under the US stewardship they will simply sell theirs shares as did HJ and MM for example.
This is not "taking money out of the club" as the club gained in the HJ /MM era, a superb infrastructure, a Premier league team effectively from nothing with no debts to anyone. The fans gained a potential fortune which they failed to cash in. Rodon James and McBurnie £50m of player was inherited from the system by the US people and Trust.
If fans need to be explained this they will never really be trusted by future generations to be involved in running UK football teams. Swansea has been a win win for ythe sellers the Trust and the city as a whole. The US people are currently putting money into the club when it needs it. | |
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| What is a convertable loan note? Pros and cons on 19:04 - Dec 25 with 2844 views | BarryTownSwam |
The investors are within a whisker of a premier league fortune! They’d be foolish not to support a promotion push. |  | | |
| What is a convertable loan note? Pros and cons on 19:30 - Dec 25 with 2835 views | Fireboy2 |
| What is a convertable loan note? Pros and cons on 19:04 - Dec 25 by BarryTownSwam |
The investors are within a whisker of a premier league fortune! They’d be foolish not to support a promotion push. |
You would think so but I'm not counting my bottles of beer I've left to drink today because I'm struggling to see and walk. |  | | |
| What is a convertable loan note? Pros and cons on 20:41 - Dec 25 with 2820 views | jasper_T |
We're not even halfway through the season, that's hardly a whisker. If it ended right now we'd still have to get through playoffs and no one bets on the team in third. | | | |
| What is a convertable loan note? Pros and cons on 20:54 - Dec 25 with 2812 views | Garyjack |
| What is a convertable loan note? Pros and cons on 20:41 - Dec 25 by jasper_T |
We're not even halfway through the season, that's hardly a whisker. If it ended right now we'd still have to get through playoffs and no one bets on the team in third. |
The 3rd place side has won the Championship play off 12 times. More than any other placed side. |  | | |
| What is a convertable loan note? Pros and cons on 10:26 - Dec 26 with 2715 views | Chief |
| What is a convertable loan note? Pros and cons on 16:14 - Dec 25 by ReslovenSwan1 |
If the club is sold under the US stewardship they will simply sell theirs shares as did HJ and MM for example.
This is not "taking money out of the club" as the club gained in the HJ /MM era, a superb infrastructure, a Premier league team effectively from nothing with no debts to anyone. The fans gained a potential fortune which they failed to cash in. Rodon James and McBurnie £50m of player was inherited from the system by the US people and Trust.
If fans need to be explained this they will never really be trusted by future generations to be involved in running UK football teams. Swansea has been a win win for ythe sellers the Trust and the city as a whole. The US people are currently putting money into the club when it needs it. |
No one said a sale of the shares would take money out of the club.
Putting loans into the club with the possible intention of getting the money back plus interest or taking dividends out of the club which are another avenue of taking money out of the club (besides other nefarious methods) would though.
Skeptical as to whether this 'investment' is actually needed. I have my doubts. We should have plenty of transfer installments coming in at regular intervals. This could simply be a guy looking to make a buck and has found a no risk gamble. [Post edited 26 Dec 2020 10:35]
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| What is a convertable loan note? Pros and cons on 10:56 - Dec 26 with 2686 views | Dr_Winston |
Despite the oft held and voiced belief that nefarious, moustache twirling Yanks have trousered millions out of the club since 2016, not a single scrap of evidence to prove this has ever emerged. To be honest, even the concept that there have been enough spare millions to trouser since we got relegated is hard enough to accept.
No money has been taken out of the club. Certainly nothing on the scale some people still seem to believe. This is easily verified via the audited annual accounts, plus the requirement for other shareholders to also receive dividends. If the Trust haven't had any, then they can't pay them to themselves.
Money may well be made out of the club in the future, either via the sale of shares that have increased in value following a promotion, via interest on loans (which I agree are best avoided at all costs, and would prefer not to have done) or by dividends in the unlikely event that we start turning a regular profit at some point. In any case, it's not happening right now.
Where we stand now depends on what Silverstein wants in return for his "investment". | |
| 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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| What is a convertable loan note? Pros and cons on 11:01 - Dec 26 with 2685 views | Chief |
| What is a convertable loan note? Pros and cons on 10:56 - Dec 26 by Dr_Winston |
Despite the oft held and voiced belief that nefarious, moustache twirling Yanks have trousered millions out of the club since 2016, not a single scrap of evidence to prove this has ever emerged. To be honest, even the concept that there have been enough spare millions to trouser since we got relegated is hard enough to accept.
No money has been taken out of the club. Certainly nothing on the scale some people still seem to believe. This is easily verified via the audited annual accounts, plus the requirement for other shareholders to also receive dividends. If the Trust haven't had any, then they can't pay them to themselves.
Money may well be made out of the club in the future, either via the sale of shares that have increased in value following a promotion, via interest on loans (which I agree are best avoided at all costs, and would prefer not to have done) or by dividends in the unlikely event that we start turning a regular profit at some point. In any case, it's not happening right now.
Where we stand now depends on what Silverstein wants in return for his "investment". |
Can't disagree with any of this post.
But i think its worth adding that fans and the trust keeping an eye and taking an interest in the club's finances is a good thing. Especially when criticisms of the trust have included things like 'being asleep at the wheel etc' | |
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| What is a convertable loan note? Pros and cons on 11:27 - Dec 26 with 2666 views | Dr_Winston |
| What is a convertable loan note? Pros and cons on 11:01 - Dec 26 by Chief |
Can't disagree with any of this post.
But i think its worth adding that fans and the trust keeping an eye and taking an interest in the club's finances is a good thing. Especially when criticisms of the trust have included things like 'being asleep at the wheel etc' |
Agreed. Oversight into the clubs actions is never a bad thing. Especially if we're to avoid the mistakes of the past when people allowed themselves to be betrayed by those they were there to keep an eye on, not become one of.
I think the regular utterings about "asset stripping" and "taking money out of the club" are unhelpful though, especially with such little evidence (or indeed any) that it's actually happening. Tends to leave the well a bit poisoned. Having said that, the owners have to shoulder their fair share of blame for that too, for matters still legally unresolved and certainly for a lot of the things they did up until the period where Jenkins finally left.
Since the beginning of Birch's spell in charge though they've done a decent job. They've wrangled the club back into some semblance of financial shape whilst retaining a team that's at least competitive. They've kept the Academy funded as best they can and still allowed both Cooper and Potter before him to spend some cash on the team. We could be doing a lot worse. It's just a shame they started so badly. If only we'd appointed Trev in 2016. | |
| 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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| What is a convertable loan note? Pros and cons on 11:55 - Dec 26 with 2661 views | jasper_T |
Iwan Roberts on Elis James' podcast talks about our owners as "take take take", it's not just fans that are banging that drum.
Never trust a pundit/commentator to have done any research. | | | |
| What is a convertable loan note? Pros and cons on 13:17 - Dec 26 with 2647 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 11:55 - Dec 26 by jasper_T |
Iwan Roberts on Elis James' podcast talks about our owners as "take take take", it's not just fans that are banging that drum.
Never trust a pundit/commentator to have done any research. |
I have found following Swansea city quite educational over the last few years. As a small scale investor myself I tend to see things from the investors point of view rather that the end user on the terraces. Remember the Trust is an investor not a auditor or assessor or trade union.
These are the things I have learned.
a) What is Hedge fund.
b) Tag on and drag on agreements
c) What is a convertable loan note.
d) Delaware is the Swiss version of US banking w.r.t. privacy.
e) I have learned about the MLS and DC United a little bit.
f) Non disclosure agreements.
g) The workings of football Trusts and constitutions.
h) The mentatality of fans ownership and their discomfort at making profits.
I would like to know what the conditions are. Could it be related to the Trust's legal case? | |
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| What is a convertable loan note? Pros and cons on 13:39 - Dec 26 with 2632 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 10:26 - Dec 26 by Chief |
No one said a sale of the shares would take money out of the club.
Putting loans into the club with the possible intention of getting the money back plus interest or taking dividends out of the club which are another avenue of taking money out of the club (besides other nefarious methods) would though.
Skeptical as to whether this 'investment' is actually needed. I have my doubts. We should have plenty of transfer installments coming in at regular intervals. This could simply be a guy looking to make a buck and has found a no risk gamble. [Post edited 26 Dec 2020 10:35]
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If something is 'nefarious', it is criminal, evil, malicious and wicked. I do not know why you have included this option. It is not realistic. Trevor Birch is such a requested figure and did such a good job at Swansea even the biggest employers were desperate to employ him, including Spurs and The FA.
I believe the loan has been taken to pay of debts and pay the wages of the staff and workers. Mr Winter has stated this. USA owners have provided the cash. The Welsh owners have not as far as I know. If they did not need the loan /invstment they would not have taken it.
You should now know what a convertable loan note is. I doubt you have read the enclosure as you appear to prefer the tittle tattle rumour mongers over detail. If you had read the enclosure you would be very concerned about dillution of your beloved Trust and the prospect of Silvertstein buying club's shares at a discounted rate.
The Trust will get dilluted and it is a good thing. | |
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| What is a convertable loan note? Pros and cons on 14:05 - Dec 26 with 2624 views | Chief |
| What is a convertable loan note? Pros and cons on 13:39 - Dec 26 by ReslovenSwan1 |
If something is 'nefarious', it is criminal, evil, malicious and wicked. I do not know why you have included this option. It is not realistic. Trevor Birch is such a requested figure and did such a good job at Swansea even the biggest employers were desperate to employ him, including Spurs and The FA.
I believe the loan has been taken to pay of debts and pay the wages of the staff and workers. Mr Winter has stated this. USA owners have provided the cash. The Welsh owners have not as far as I know. If they did not need the loan /invstment they would not have taken it.
You should now know what a convertable loan note is. I doubt you have read the enclosure as you appear to prefer the tittle tattle rumour mongers over detail. If you had read the enclosure you would be very concerned about dillution of your beloved Trust and the prospect of Silvertstein buying club's shares at a discounted rate.
The Trust will get dilluted and it is a good thing. |
- yes that indeed an accurate description of that word i used. I said its potentially a way that money could leave the club, not that it definitely has occurred. Its one of a ways club funds could leave the club to feed this extra mouth. Which is an obviously con to this guy dumping his money on us. The thread is labelled pros and cons so just presenting one obvious con that you failed to highlight.
- Yes winters obviously going to toe the company line. As i keep saying our huge excess over the last few years should see us through. If we still need 10mill investment after all that, the club is obviously being run very badly. As i say, this could just be one of K&Ls mates having a punt a very low risk bet.
- What have i said that contradicts your link then? Are any of the potential outcomes I've described incompatible with your link? Easy to write that AGAIN without substance.
- Yes absolutely, i don't want someone ladening the club with debt. Everyone should be concerned with dilution at this point. It cannot possibly be seen as a good thing by any swans fan currently. If there's a tangible link between the club progressing as a result of this extra money (loan/debt) then theres an argument that it may be worth it.
If we don't go up though, its simply another person who will want their investment back at some point out of the club that wont have benefitted from that investment at all. Which is very bad news for the football club. | |
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| What is a convertable loan note? Pros and cons on 15:13 - Dec 26 with 2601 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 14:05 - Dec 26 by Chief |
- yes that indeed an accurate description of that word i used. I said its potentially a way that money could leave the club, not that it definitely has occurred. Its one of a ways club funds could leave the club to feed this extra mouth. Which is an obviously con to this guy dumping his money on us. The thread is labelled pros and cons so just presenting one obvious con that you failed to highlight.
- Yes winters obviously going to toe the company line. As i keep saying our huge excess over the last few years should see us through. If we still need 10mill investment after all that, the club is obviously being run very badly. As i say, this could just be one of K&Ls mates having a punt a very low risk bet.
- What have i said that contradicts your link then? Are any of the potential outcomes I've described incompatible with your link? Easy to write that AGAIN without substance.
- Yes absolutely, i don't want someone ladening the club with debt. Everyone should be concerned with dilution at this point. It cannot possibly be seen as a good thing by any swans fan currently. If there's a tangible link between the club progressing as a result of this extra money (loan/debt) then theres an argument that it may be worth it.
If we don't go up though, its simply another person who will want their investment back at some point out of the club that wont have benefitted from that investment at all. Which is very bad news for the football club. |
Dilluting a useless shareholder with no money to invest is no problem for the club. The club does not need a redundant checker.
The Trust have arrived at the worst possible time for football with no fans allowed and are skint. In the good times they failed to bring in the harvests and now in deep winter have nothing to offer the club other than extra grief.
A convertable loan note should mean no debt just dilution for those who did not take the remit seriously. It is notionally bad news for the Trust but unfortuantely have performed poorly so that has no relevance for the club. They are effectively passengers.
The tangible link between the CLN and the benefit to the club. That link is the comments of the chairman. The third excellent Chairman in a row. You do not Trust any of them it seems. | |
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| What is a convertable loan note? Pros and cons on 15:26 - Dec 26 with 2599 views | Chief |
| What is a convertable loan note? Pros and cons on 15:13 - Dec 26 by ReslovenSwan1 |
Dilluting a useless shareholder with no money to invest is no problem for the club. The club does not need a redundant checker.
The Trust have arrived at the worst possible time for football with no fans allowed and are skint. In the good times they failed to bring in the harvests and now in deep winter have nothing to offer the club other than extra grief.
A convertable loan note should mean no debt just dilution for those who did not take the remit seriously. It is notionally bad news for the Trust but unfortuantely have performed poorly so that has no relevance for the club. They are effectively passengers.
The tangible link between the CLN and the benefit to the club. That link is the comments of the chairman. The third excellent Chairman in a row. You do not Trust any of them it seems. |
Are you actually going to address my points or go randomly off on a rant about the trust again?
- the club will always need someone keeping an eye on people involved with the club for financial gain.
- does the same apply to the likes of Jenkins or Morgan?
- arrived? What's that mean?
- A converted loan would mean no debt but would mean another person wanting their investment back at some point.
- more random digs at trust with no relevance to the thread (but noted how you're trying to round back to them).
- Not really because what Winter says (if true) doesn't really add any value to the club. The club would still be worth the same amount as before the loan was put in.
- Bit early to say hes excellent! Early days but hes improved the communication, but the inability to get a market price for Rodon is a blott on his record. And no i don't trust any them. Why would i? The one i thought i could trust Betrayed the supporters trust and the next ones have been employed by people who are here to make money on the club. | |
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| What is a convertable loan note? Pros and cons on 16:23 - Dec 26 with 2585 views | ReslovenSwan1 |
| What is a convertable loan note? Pros and cons on 15:26 - Dec 26 by Chief |
Are you actually going to address my points or go randomly off on a rant about the trust again?
- the club will always need someone keeping an eye on people involved with the club for financial gain.
- does the same apply to the likes of Jenkins or Morgan?
- arrived? What's that mean?
- A converted loan would mean no debt but would mean another person wanting their investment back at some point.
- more random digs at trust with no relevance to the thread (but noted how you're trying to round back to them).
- Not really because what Winter says (if true) doesn't really add any value to the club. The club would still be worth the same amount as before the loan was put in.
- Bit early to say hes excellent! Early days but hes improved the communication, but the inability to get a market price for Rodon is a blott on his record. And no i don't trust any them. Why would i? The one i thought i could trust Betrayed the supporters trust and the next ones have been employed by people who are here to make money on the club. |
You still have not commented on the pro s and cons of Convertable Loan notes. I suspect you have little concept of what it means for the club and the minor share holders. I have given you the information in an accessible form but you simply repeat leftist dogma and terrace tittle tattle.
The cash will be investment in the club and those who do not contribute in these hard times will be diluted. I suspect the US owners will invest and the Welsh ones will not. | |
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| What is a convertable loan note? Pros and cons on 18:24 - Dec 26 with 2545 views | Chief |
| What is a convertable loan note? Pros and cons on 16:23 - Dec 26 by ReslovenSwan1 |
You still have not commented on the pro s and cons of Convertable Loan notes. I suspect you have little concept of what it means for the club and the minor share holders. I have given you the information in an accessible form but you simply repeat leftist dogma and terrace tittle tattle.
The cash will be investment in the club and those who do not contribute in these hard times will be diluted. I suspect the US owners will invest and the Welsh ones will not. |
I've described in great detail a major con in all this. Why are you ignoring that?
- Why do you keep repeating this about bot understating etc yet not actually saying what ive said that is incorrect? Stenches of all mouth no trousers.
- yea as you keep saying and I've explained that could be disastrous for the club but you keep ignoring that. [Post edited 26 Dec 2020 18:26]
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