| Trust update [7th November] on 09:12 - Nov 8 with 1510 views | KeithHaynes |
Never pretended to know much about this, I assume it’s more dilution ?
I was sent this.
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| Trust update [7th November] on 17:12 - Nov 8 with 1349 views | Whiterockin |
| Trust update [7th November] on 16:17 - Nov 8 by ReslovenSwan1 |
151910 shares at a price if £23.04 a share. ?
151910 x £23.04 = £3,500,006 and 40 pence.
Mr Coleman contribution will be in here.
To work out dilution one needs to know the total number of shares in existence.
The money may have initially been in the Convertible loan note. Coleman said he had invested when he arrive a few month back. He did not say "my investment is pending".
The LLC investment of £3.5m will reduce Mr Morris's % investment and the long term % holdings or Mr Morgan and the SCST. [Post edited 8 Nov 2023 17:24]
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All convertible loans have to be updated at Companies House, as the club have done in the past and also made public. Nothing in relation to a convertible loan has been filled at Companies House. These funds seem to have come from from the American based fund which is not transparent, you do wonder why there is no clarity from the club regarding the clubs finances. I just hope that we are complying with all FA rules regarding disclosure. |  | | |
| Trust update [7th November] on 17:49 - Nov 8 with 1298 views | ReslovenSwan1 |
| Trust update [7th November] on 17:12 - Nov 8 by Whiterockin |
All convertible loans have to be updated at Companies House, as the club have done in the past and also made public. Nothing in relation to a convertible loan has been filled at Companies House. These funds seem to have come from from the American based fund which is not transparent, you do wonder why there is no clarity from the club regarding the clubs finances. I just hope that we are complying with all FA rules regarding disclosure. |
Where would these CLN s be notified? In the accounts themselves?
There do not seem to be any separate filings that I can determine (untrained eye). If they are noted in the formal accounts then recent event will not be apparent to the public.
The funds do not "seem to have come from US funds" they have come from US based funds because the club and SCST have said so. The US is a private group of investors who wish to maintain privacy.
I do not know what happened to the 28 dentists media and financial people. Not something i need to worry about.
Swansea city is a well run corporate ship it seems to me since 2002. Very few issues over that period. |  |
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| Trust update [7th November] on 17:59 - Nov 8 with 1296 views | Whiterockin |
| Trust update [7th November] on 17:49 - Nov 8 by ReslovenSwan1 |
Where would these CLN s be notified? In the accounts themselves?
There do not seem to be any separate filings that I can determine (untrained eye). If they are noted in the formal accounts then recent event will not be apparent to the public.
The funds do not "seem to have come from US funds" they have come from US based funds because the club and SCST have said so. The US is a private group of investors who wish to maintain privacy.
I do not know what happened to the 28 dentists media and financial people. Not something i need to worry about.
Swansea city is a well run corporate ship it seems to me since 2002. Very few issues over that period. |
This is an example of the club issuing a statement regarding notifying Companies House as they are legally bound to do, notify Companies House not issue a statement.
https://www.swanseacity.com/news/club-statement-convertible-loan-notes | | | |
| Trust update [7th November] on 18:29 - Nov 8 with 1250 views | ReslovenSwan1 |
Converting CLN is notified as it converts to new shares. I am not sure they need to notify CH at opening a CLN. One for the accountants.
The statement does state it was the "FINAL" CLN so that suggests they have been discontinued. Good spot.
Mr Coleman put his money it appears into the LLC and the LLC into SCFC. His money was in the club so he can call himself an investor as the transaction was pending and probably irreversible. His investment was it seems a pooled investment. People were looking for his name at CH and it will not appear.
Silverstein put his money into the CLN took it out and put it back in again in the LLC it appears. Of course he could have simply taken a holding in the LLC in lieu of his initial loan to the club. It saves on paperwork I suppose. | |
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| Trust update [7th November] on 18:48 - Nov 8 with 1234 views | Whiterockin |
| Trust update [7th November] on 18:29 - Nov 8 by ReslovenSwan1 |
Converting CLN is notified as it converts to new shares. I am not sure they need to notify CH at opening a CLN. One for the accountants.
The statement does state it was the "FINAL" CLN so that suggests they have been discontinued. Good spot.
Mr Coleman put his money it appears into the LLC and the LLC into SCFC. His money was in the club so he can call himself an investor as the transaction was pending and probably irreversible. His investment was it seems a pooled investment. People were looking for his name at CH and it will not appear.
Silverstein put his money into the CLN took it out and put it back in again in the LLC it appears. Of course he could have simply taken a holding in the LLC in lieu of his initial loan to the club. It saves on paperwork I suppose. |
I'm pretty sure that whether a Convertible loan needs to be registered or not is dependent on the security level and what the loan is secured against. A bit of a minefield really and not something you can speculate on. IMO all our convertible loans were cleared 6 months ago.
We still have no clarity on the exact shareholding of the major investors, over 10%, this is my concern. Do we have a LLC in America with unknown investors owning shares or are all shares owned by named investors. If this is the case what are the percentages and why the secrecy, in the past we knew every shareholder and their ownership. Even on Companies House there are three Swansea City related companies with shareholders overlapping. | | | |
| Trust update [7th November] on 21:28 - Nov 8 with 1127 views | ReslovenSwan1 |
| Trust update [7th November] on 18:48 - Nov 8 by Whiterockin |
I'm pretty sure that whether a Convertible loan needs to be registered or not is dependent on the security level and what the loan is secured against. A bit of a minefield really and not something you can speculate on. IMO all our convertible loans were cleared 6 months ago.
We still have no clarity on the exact shareholding of the major investors, over 10%, this is my concern. Do we have a LLC in America with unknown investors owning shares or are all shares owned by named investors. If this is the case what are the percentages and why the secrecy, in the past we knew every shareholder and their ownership. Even on Companies House there are three Swansea City related companies with shareholders overlapping. |
I do not understand why this is a concern. The LLC owns most shares around 70% the SCST Mr Morgan, Mr Morris and possibly Mr Jenkins the rest.
The bulk of the LLC is owned by Mr Kaplan, Mr Levien, Mr Silverstein, Mr Coleman and Mr Cravat. There may be small holdings by dozen of others who are of little consequence. (the elite dentists, actresses and engineers).
New money could benefit from a fair distribution of TV which has been mooted. Many want anonymity to keep news of their losses quiet. | |
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| Trust update [7th November] on 22:12 - Nov 8 with 1094 views | Whiterockin |
| Trust update [7th November] on 21:28 - Nov 8 by ReslovenSwan1 |
I do not understand why this is a concern. The LLC owns most shares around 70% the SCST Mr Morgan, Mr Morris and possibly Mr Jenkins the rest.
The bulk of the LLC is owned by Mr Kaplan, Mr Levien, Mr Silverstein, Mr Coleman and Mr Cravat. There may be small holdings by dozen of others who are of little consequence. (the elite dentists, actresses and engineers).
New money could benefit from a fair distribution of TV which has been mooted. Many want anonymity to keep news of their losses quiet. |
In the previous dilution Morgan increased his investment to maintain his 5% and a seat on the board, Jenkins didn't and relinquished his seat.
Quote from March.
The club can also confirm Silverstein’s shares, held via US entity Stormlight Elyrch LLC, will move into Swansea Football LLC, and Silverstein’s shareholding will now sit alongside those of Levien and Kaplan.
There is nothing anywhere to clarify the current funds in Swansea Football LLC based in the USA and who exactly pulling the strings, we can all assume, but very few actually know. Have all the funds in Swansea Football LLC now been transferred to Swansea City or are there funds still sitting there. The March statement states Silverstein’s shares will move into Swansea Football LLC and sit alongside those of Kaplan and Levien, there was no mention of percentages, so nobody knows the total investment of any of the shareholders.
Am I the only one who finds all this secrecy worrying. Three Swansea City companies registered at Companies House. A Swansea Football LLC in America, Silverstein’s shares were originally held in Stormlight Elyrch LLC before being transferred into Swansea Football LLC. Surely clarity is needed as to what the hell is going on. | | | |
| Trust update [7th November] on 22:17 - Nov 8 with 1078 views | QJumpingJack |
| Trust update [7th November] on 21:28 - Nov 8 by ReslovenSwan1 |
I do not understand why this is a concern. The LLC owns most shares around 70% the SCST Mr Morgan, Mr Morris and possibly Mr Jenkins the rest.
The bulk of the LLC is owned by Mr Kaplan, Mr Levien, Mr Silverstein, Mr Coleman and Mr Cravat. There may be small holdings by dozen of others who are of little consequence. (the elite dentists, actresses and engineers).
New money could benefit from a fair distribution of TV which has been mooted. Many want anonymity to keep news of their losses quiet. |
Jenkins is in charge of Newport so I doubt he has any involvement. I am not sure EFL rules would allow it. |  | | |
| Trust update [7th November] on 23:18 - Nov 8 with 1038 views | ReslovenSwan1 |
| Trust update [7th November] on 22:12 - Nov 8 by Whiterockin |
In the previous dilution Morgan increased his investment to maintain his 5% and a seat on the board, Jenkins didn't and relinquished his seat.
Quote from March.
The club can also confirm Silverstein’s shares, held via US entity Stormlight Elyrch LLC, will move into Swansea Football LLC, and Silverstein’s shareholding will now sit alongside those of Levien and Kaplan.
There is nothing anywhere to clarify the current funds in Swansea Football LLC based in the USA and who exactly pulling the strings, we can all assume, but very few actually know. Have all the funds in Swansea Football LLC now been transferred to Swansea City or are there funds still sitting there. The March statement states Silverstein’s shares will move into Swansea Football LLC and sit alongside those of Kaplan and Levien, there was no mention of percentages, so nobody knows the total investment of any of the shareholders.
Am I the only one who finds all this secrecy worrying. Three Swansea City companies registered at Companies House. A Swansea Football LLC in America, Silverstein’s shares were originally held in Stormlight Elyrch LLC before being transferred into Swansea Football LLC. Surely clarity is needed as to what the hell is going on. |
I am not sure you still need 5% to sit on the board. Mr Morgan is due an honorary place due to his commitment to the club over two decades including sponsoring the stadium in the absence of any one else I suspect.
The people who are pulling the strings of Swansea city LLC is obvious. Kaplan, Levien Silverstein with Coleman instructed to deliver the strategy as the "man on the ground". They will let him get on with it. It seems to me the club is in its most unified and competitive managerial state for some time. No mystery. Swansea LLC is really none of the business of the fans (i.e. Trust). It would be nice if some far east invest put £30m into it. (One of kaplan mates perhaps).
Fans should be concerned about their own ownership the 10+% in the Trust. This organization has been run into the ground through a lack of care. They needed professional advice and probably still do. It's value is being crushed from the "do nothing at all" strategy which served them so well under the ludicrously named "sellouts". Their only income is the £5 membership fee. I find it hard to believe they do not have other income sources.
Fans do not need to know the ownership of Swansea city LLC in detail. It is none of their business. | |
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| Trust update [7th November] on 18:27 - Nov 9 with 899 views | SullutaCreturned |
| Trust update [7th November] on 23:18 - Nov 8 by ReslovenSwan1 |
I am not sure you still need 5% to sit on the board. Mr Morgan is due an honorary place due to his commitment to the club over two decades including sponsoring the stadium in the absence of any one else I suspect.
The people who are pulling the strings of Swansea city LLC is obvious. Kaplan, Levien Silverstein with Coleman instructed to deliver the strategy as the "man on the ground". They will let him get on with it. It seems to me the club is in its most unified and competitive managerial state for some time. No mystery. Swansea LLC is really none of the business of the fans (i.e. Trust). It would be nice if some far east invest put £30m into it. (One of kaplan mates perhaps).
Fans should be concerned about their own ownership the 10+% in the Trust. This organization has been run into the ground through a lack of care. They needed professional advice and probably still do. It's value is being crushed from the "do nothing at all" strategy which served them so well under the ludicrously named "sellouts". Their only income is the £5 membership fee. I find it hard to believe they do not have other income sources.
Fans do not need to know the ownership of Swansea city LLC in detail. It is none of their business. |
The owners are actually only caretakers, they won't be around forever while the club can exist without them it cannot exist without fans so we have every right to know who owns OUR club. | | | |
| Trust update [7th November] on 18:53 - Nov 9 with 882 views | ReslovenSwan1 |
| Trust update [7th November] on 18:27 - Nov 9 by SullutaCreturned |
The owners are actually only caretakers, they won't be around forever while the club can exist without them it cannot exist without fans so we have every right to know who owns OUR club. |
it is the same as your house. While you own it you will not be around forever. I have no right to know all its details unless you put it up for sale.
Swansea fans are 10% owners down from 21% through mismanagement. The LLC is based in the USA. The ownership is clear and transparent. Levein, Kaplan, Silverstein, Coleman and Cravat.
You have no right to see the accounts. It is private according to US law. They want to keep it private.
Marks and Spenser cannot exist without its customers and they do not need to see the detailed accounts. | |
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| Trust update [7th November] on 19:11 - Nov 9 with 863 views | SullutaCreturned |
| Trust update [7th November] on 18:53 - Nov 9 by ReslovenSwan1 |
it is the same as your house. While you own it you will not be around forever. I have no right to know all its details unless you put it up for sale.
Swansea fans are 10% owners down from 21% through mismanagement. The LLC is based in the USA. The ownership is clear and transparent. Levein, Kaplan, Silverstein, Coleman and Cravat.
You have no right to see the accounts. It is private according to US law. They want to keep it private.
Marks and Spenser cannot exist without its customers and they do not need to see the detailed accounts. |
it's nothing like my house actually, that is a very silly thing to say. Us fans put money into the club, do you put any money into my house? Do you have a season ticket to my bathroom? Do you buy tickets for entry to my garden? NOPE.
If the ownership was clear and transparent then all the owners names would be known, that they apparently aren't known makes things a little foggy.
Who mentioned seeing their accounts? Only you. The owners of Marks and Spencer, now I wonder, would that info be available at companies house?
Edited to say that strangely enough, you can see company accounts via companies house too. [Post edited 9 Nov 2023 19:19]
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| Trust update [7th November] on 19:11 - Nov 9 with 863 views | Whiterockin |
| Trust update [7th November] on 18:53 - Nov 9 by ReslovenSwan1 |
it is the same as your house. While you own it you will not be around forever. I have no right to know all its details unless you put it up for sale.
Swansea fans are 10% owners down from 21% through mismanagement. The LLC is based in the USA. The ownership is clear and transparent. Levein, Kaplan, Silverstein, Coleman and Cravat.
You have no right to see the accounts. It is private according to US law. They want to keep it private.
Marks and Spenser cannot exist without its customers and they do not need to see the detailed accounts. |
The EFL need to see the accounts and will thoroughly scrutinise them. Any misdemeanor and we will start with a transfer ban, as was the case with Burnley last season and could have a points deduction. Do you really believe that supporters have no right to know the financial details of their club ownership. | | | |
| Trust update [7th November] on 19:38 - Nov 9 with 831 views | Whiterockin |
| Trust update [7th November] on 18:53 - Nov 9 by ReslovenSwan1 |
it is the same as your house. While you own it you will not be around forever. I have no right to know all its details unless you put it up for sale.
Swansea fans are 10% owners down from 21% through mismanagement. The LLC is based in the USA. The ownership is clear and transparent. Levein, Kaplan, Silverstein, Coleman and Cravat.
You have no right to see the accounts. It is private according to US law. They want to keep it private.
Marks and Spenser cannot exist without its customers and they do not need to see the detailed accounts. |
What about Morris as an owner or doesn't he count. | | | |
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