| The Trust Chairman’s AGM address 16:02 - Jan 30 with 3058 views | Darran |
Not being able to post this is plain daft so here it is.
Chairman’s Address — 28th January 2019
Welcome to the AGM of the Swans Trust at the end of what has been, once again, a long year of change for the Trust with some long-standing members standing down in the summer allowing for some new blood to be elected through the annual election process.
So it seems only right that I start tonight with a thank you to those people who stood down in the summer. That includes the names of two former Trust Chairmen in Ron Knuszka and Alan Lewis. Ron was largely responsible for many of the good things that we did in the early days of the Trust which would include the season ticket “piggy-back” scheme and the Ivor Allchurch statue that stands outside the Liberty. Both excellent achievements and, in reference to the latter, a lasting memory of one of Swansea’s greatest sons.
Alan was Chairman for the first seven months of 2018 but offered so much more to the Trust over the years during his time as Media Officer, where he worked to raise the Trust profile in the media and was responsible for many presentations both in this country and abroad. He took the Trust forward in the mediation process regards our share position that I will touch on shortly and is a well-known face amongst many Swans fans both for his time at the Pod on matchdays and particularly at away trips where he is usually in attendance.
Finally, Viv Williams put in many hours for the Trust, particularly around the commercial side of our operation. He was instrumental in the Robbie James Wall of Fame, International Honours boards and the displays that can be seen in the Riverside Lounge. Viv is a great believer in recognising our club’s past and did a superb job to bring that to the fore for both old fans and the next generation.
I would like to take this opportunity on behalf of me, the Trust Board and all our members to thank Ron, Alan and Viv for, what is close to, 30 years of combined service to the Trust and know that they will continue to be supportive of what we do.
It is also appropriate to thank the rest of the Trust board for their work over the past 12 months which is wide and varied whether you look at the Schools Initiative, Membership drive, involvement with the Disabled Supporters Association or the burning issue that still hangs over us in regards the share sale of 2016. All that work, and more, is invaluable to us as a Trust and as a collective I thank you for your work towards the organisation.
A special mention must go to Stuart MacDonald who is our representative in the boardroom. Stuart spends many hours of, what I am sure he thought would be, a peaceful retirement working on behalf of our members, and all fans, within the club and, whilst this is often a thankless task, I am sure his efforts are appreciated by everyone in this room.
I would also like to thank our affiliate board members — Finance affiliate Lisa Clement and Legal affiliate Dai Little for their tireless work in helping us make progress in resolving the issues around the 2016 share sale. That issue is something we will come back to in a moment.
Finally, I have one special thank you that I must bring to the fore this evening because it will likely be the only official chance that I get to do so. Nigel Hamer, our long-standing Trust secretary has informed the board that, after 18 years involved with the group stretching back to our formation, he will be standing down as secretary to the board at the end of this current Trust year. It is safe to say that without Nigel’s input over the years we would be nowhere near the organisation we are. He will be sorely missed by all of us on the board and has left us with very large shoes to fill. The search for Nigel’s replacement will begin in earnest very shortly but I thought it only right to take the chance this evening in front of you all here to thank him for his work over the years and to wish him a very happy ‘Trust retirement’ — Thank You Nigel.
Now for the update that I have been promising regarding the issues relating back to the share sale in in 2016 which saw ownership of the club transfer from local ownership to that of an American hedge fund headed by Steve Kaplan and Jason Levien.
MEDIATION UPDATE
I think it is fair to say that the road to mediation is long and fraught and that is probably an underestimate. Indeed, it is hard to believe that it was October that we provided the last meaningful update which, frankly, is unacceptable despite all the reasons for the ‘radio silence’ being valid.
I don’t think any of us involved in these discussions underestimated the amount of work involved but I think it is fair to say we probably underestimated just how much things can be derailed from what is a reasonably clear plan towards progress, especially when not all parties have been willing to fully participate in that process.
I do appreciate, and understand, the repeated calls to get this towards a courtroom however it is clear — from advice we have been given — that we, like the defendant parties, must attempt the mediation process to get it to that stage or risk costs sanctions by the High Court down the line.
Whether the mediation process will get us to the stage where we have a palatable solution to present to you as our membership is a matter for debate and I am sure that as members we all have viewpoints on that. That aside, it is a process that the Trust must go through. What I would hope will come out of that process is a third option to present to you all in the upcoming consultation which will stand alongside the two options we currently have, which are “Do nothing and carry on as we are” or “See you in court”. Both options have pros and cons that need to be carefully considered when you make your decisions.
Firstly, let me say that we have a confirmed available date for mediation of 28th February to 1st March. These dates have been confirmed with the American owners and Huw Jenkins, though the other selling shareholders have yet to confirm their availability.
We can confirm that, in November, we received a response letter from the legal representatives of the majority owners setting out their defence to our claims. It is worth noting that this response did not cause our legal representatives to reduce their view on the merits of the Trust’s case.
However, we are yet to receive a similar response from Chris Farnell (the solicitor operating on behalf of Huw Jenkins and other selling shareholders). It is clearly critical that the selling shareholders explain their position if mediation is to have any chance of success. It has been eight months since the Trust issued a detailed claim letter outlining our issues and it is extremely disappointing that the selling shareholders, who have long claimed to have the interests of the football club at heart, have not sought to engage fully in this process during that time.
In the meantime, we will continue to prepare for mediation in the hope that it can go ahead at the end of February. Outside this formal mediation process, we have held several separate discussions with the American ownership in order to seek to bring about a solution. These discussions will continue up until those mediation dates, however we are not yet able to present a proposal to our members in that regard.
One thing I should make it clear here is that, as your representatives, we have always made it clear that none of us have the authority to ‘sign a deal’. Any decision regarding agreeing a deal, or not, will be one for our members. I see the role of the Trust board as one where we will seek to negotiate with the other parties and then present the various options via a consultation with our membership as we did in 2017, with the pros and cons around each option, so that you can make an informed decision on the best route you think we should take.
It is fair to say that every one of us will have differing viewpoints on what will be the right approach to take. However, we are a democratic organisation and the Trust board will follow the results of that consultation when it happens. Given the dates I have outlined above then I would anticipate this consultation taking place during March. We should note that if mediation does not happen on these dates, due to further delays from the other parties, then the Trust Board is not prepared to extend the timeline for consultation with our members.
As mentioned, there are various possible paths we can take as a Trust. In order to provide our members with the option of taking legal action, we have also entered into discussions in order to provide litigation funding and/or legal costs insurance to both enable the Trust to take legal action but also protect the Trust in case a case is not won. Another thing that has become abundantly clear is that litigation funding and/or insurance is another of those things that is a long drawn out process to obtain. It is very easy to think that this can be achieved through a simple phone call (and maybe I believed it was much simpler than it was) but it is a complex undertaking requiring a significant amount of paperwork and legal documentation, including an update from our QC. However, our solicitors are optimistic about the outcome, as are the brokers they are using to find the best package for the Trust.
For commercial and legal reasons, we have been advised not to state more on this at this time, however when it comes to a members’ consultation, we will outline the full details surrounding this option.
As you can see, we have some critical dates coming up and the focus of the Trust Board right now is on those two mediation dates of 28th February and 1st March and events leading up to them. After that, we will fully prepare for a consultation with our members which, as in 2017, will involve the preparation of a comprehensive pack detailing the pros and cons of each option. It is difficult to know the exact timeline for that activity, which will depend on the options we have available, although clearly we are aware that the clock is ticking from 1st March onwards.
In the meantime, we will keep open the lines of communication between us and the other parties, as advised to do so by the legal team. While we would like this to be resolved as soon as possible, even before mediation if possible, what is important is that the discussions are timebound and our members can decide regarding the path we take.
I hope from this update that you can see your Trust board is making every effort to bring this issue to a conclusion and, whilst it is not as easy or as quick as most of us would like, we are gaining clarity on the various paths we can take and progressing various options.
At this point I would like to thank every member of the sub group that have worked countless hours on this. I would estimate that each of us spend in excess of 10 hours per week working through endless pages of legal updates, discussion, meetings and calls to get to this stage and, as volunteers, I do believe that this should be commended given the minefield we are trying to wade through.
We will of course revert at the end of this evening for questions around this process of which I am sure there are many so look forward to taking your views at that point.
Now before I hand over to Stuart to give his treasurer’s report it would be amiss of me not to mention the football club following our relegation back in May from the Premier League. It is fair to say that I don’t think any of us wanted to be relegated but we should applaud the job that Graham Potter has done with the team, which sees us sat in the top half of the division within touching distance of the playoffs and progressing to the 5th Round of the FA Cup. Given the decimation, and there is no other word, of the squad back in the summer it has been nothing short of remarkable that we are where we are. It has also been very pleasing to see a return to the footballing style of play that we enjoyed for many years, after the last few seasons of trying to avoid defeat and relegation.
That said, the summer transfer window was a direct result of the poor transfer dealings of the past few years and that is an area of the club that has still not been fully resolved despite requests — both privately and publicly — from the Trust for that to happen. We continue to take the stance that changes need to be made to continue the transition of getting the football club completely back on track and to ensure that some of the dreadful decisions of the past three years cannot be repeated.
I thank you all for your ongoing support of the Trust and hope that I have given you some food for thought in terms of where we are and what the short-term future is going to include for you all. We are about to reach a very large crossroads as an organisation, and it is my intention that we will present you with all the options, facts and knowledge you need to make the right decisions as Trust members as to the way forward.
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| The Trust Chairman’s AGM address on 16:47 - Jan 30 with 2338 views | Darran |
You won’t get sued if you reply mind. | |
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| The Trust Chairman’s AGM address on 17:05 - Jan 30 with 2296 views | DwightYorkeSuperstar |
Is Viv Williams the person who made the tail wagging dog comment or was that somebody else? |  |
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| The Trust Chairman’s AGM address on 17:12 - Jan 30 with 2278 views | Wingstandwood |
| The Trust Chairman’s AGM address on 16:47 - Jan 30 by Darran |
You won’t get sued if you reply mind. |
Quote: "However, we are yet to receive a similar response from Chris Farnell (the solicitor operating on behalf of Huw Jenkins and other selling shareholders). "
The romantic "by the fans for the fans" notion and emotional connection of supporters towards Jenkins, Dineen, Morgan and Van Zweden is dead in the water... There is zero connection.
The supporters/Trust that fuelled SCFC's rise by funding Leon's wages, that paid non-returnable (unlike Jenkins and others share(s) purchase) money for season tickets and matchday admission etc have shown to be utterly expendable by Jenkins and Co and have been jettisoned. Used, abused and betrayed! |  |
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| The Trust Chairman’s AGM address on 17:16 - Jan 30 with 2268 views | Darran |
| The Trust Chairman’s AGM address on 17:12 - Jan 30 by Wingstandwood |
Quote: "However, we are yet to receive a similar response from Chris Farnell (the solicitor operating on behalf of Huw Jenkins and other selling shareholders). "
The romantic "by the fans for the fans" notion and emotional connection of supporters towards Jenkins, Dineen, Morgan and Van Zweden is dead in the water... There is zero connection.
The supporters/Trust that fuelled SCFC's rise by funding Leon's wages, that paid non-returnable (unlike Jenkins and others share(s) purchase) money for season tickets and matchday admission etc have shown to be utterly expendable by Jenkins and Co and have been jettisoned. Used, abused and betrayed! |
Nobody in their right mind can argue that the Trust deserved better. [Post edited 30 Jan 2019 20:46]
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| The Trust Chairman’s AGM address on 17:34 - Jan 30 with 2232 views | Wingstandwood |
| The Trust Chairman’s AGM address on 17:16 - Jan 30 by Darran |
Nobody in their right mind can argue that the Trust deserved better. [Post edited 30 Jan 2019 20:46]
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And even when the Trust held out a hand of compromise (share deal) with good intention to cooperate/compromise? That very hand was was spat on with yet another further betrayal by a bunch of despicable individuals showing zero guilt, zero conscience and zero morals.
Utterly sociopathic behaviour by Jenkins and Co who I presume thought the Trust would lack moral-fibre and dynamism to go on an offensive to get what is rightfully and justifiably owed.
Jenkins and Co IMO have shot themselves in the foot bearing in mind the 'elite' expertise that has now entered the fray on the Trust/supporters behalf. Good tactics with the (prolonged/repeat attempt(s)) mediation because IMO the longer it has gone on the worse Jenkins and Co (when in hole stop digging) have been made to look! IMO the Trust has been playing a very astute waiting game! | |
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| The Trust Chairman’s AGM address on 17:59 - Jan 30 with 2176 views | bonymine |
| The Trust Chairman’s AGM address on 17:34 - Jan 30 by Wingstandwood |
And even when the Trust held out a hand of compromise (share deal) with good intention to cooperate/compromise? That very hand was was spat on with yet another further betrayal by a bunch of despicable individuals showing zero guilt, zero conscience and zero morals.
Utterly sociopathic behaviour by Jenkins and Co who I presume thought the Trust would lack moral-fibre and dynamism to go on an offensive to get what is rightfully and justifiably owed.
Jenkins and Co IMO have shot themselves in the foot bearing in mind the 'elite' expertise that has now entered the fray on the Trust/supporters behalf. Good tactics with the (prolonged/repeat attempt(s)) mediation because IMO the longer it has gone on the worse Jenkins and Co (when in hole stop digging) have been made to look! IMO the Trust has been playing a very astute waiting game! |
This 100% absolutely.
Once again, here is Judas Jenkins’s Sky Sports Interview from February 2015 .......
‘I’m positive that any movement away from the current set-up will only be put in place IF EVERYONE CONNECTED TO OUR CLUB IS CONVINCED IT’S A GOOD THING FOR THE FOOTBALL CLUB FIRST AND FOREMOST’.
You simply cannot have another example of more blatant bare faced lies than that statement surely ? .....
....Oh hang on though, maybe the one about the existence of the ‘Shareholders Agreement’ or the ‘faked’ Board Meeting minutes etc etc ....the list is endless !!
https://www.skysports.com/football/news/11731/9724954/swansea-chairman-huw-jenki |  |
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| The Trust Chairman’s AGM address on 19:06 - Jan 30 with 2043 views | waynekerr55 |
| The Trust Chairman’s AGM address on 17:16 - Jan 30 by Darran |
Nobody in their right mind can argue that the Trust deserved better. [Post edited 30 Jan 2019 20:46]
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Xmastree did.
Where have he and swanseacityx disappeared to? |  |
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| The Trust Chairman’s AGM address on 19:20 - Jan 30 with 1992 views | vetchonian |
| The Trust Chairman’s AGM address on 17:16 - Jan 30 by Darran |
Nobody in their right mind can argue that the Trust deserved better. [Post edited 30 Jan 2019 20:46]
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The super fan from Aberdare might |  |
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| The Trust Chairman’s AGM address on 19:54 - Jan 30 with 1900 views | Jonathans_coat |
| The Trust Chairman’s AGM address on 17:59 - Jan 30 by bonymine |
This 100% absolutely.
Once again, here is Judas Jenkins’s Sky Sports Interview from February 2015 .......
‘I’m positive that any movement away from the current set-up will only be put in place IF EVERYONE CONNECTED TO OUR CLUB IS CONVINCED IT’S A GOOD THING FOR THE FOOTBALL CLUB FIRST AND FOREMOST’.
You simply cannot have another example of more blatant bare faced lies than that statement surely ? .....
....Oh hang on though, maybe the one about the existence of the ‘Shareholders Agreement’ or the ‘faked’ Board Meeting minutes etc etc ....the list is endless !!
https://www.skysports.com/football/news/11731/9724954/swansea-chairman-huw-jenki |
He probably half meant it when he said it.
Then he got a whiff of the Yankee millions and all morals, integrity and care for his “beloved local club” went out the window.
Enjoy your pieces of silver Judas. |  | | |
| The Trust Chairman’s AGM address on 19:59 - Jan 30 with 1887 views | barry_island |
Disappointing to read that the pros and cons of each option will again be given.
Surely after the last exercise only the options should be presented? | |
| Swansea City, THE Austerity Club. |
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| The Trust Chairman’s AGM address on 20:04 - Jan 30 with 1877 views | Jonathans_coat |
| The Trust Chairman’s AGM address on 19:59 - Jan 30 by barry_island |
Disappointing to read that the pros and cons of each option will again be given.
Surely after the last exercise only the options should be presented? |
Yeah that worked so well with the EU referendum!
People need to know the potential consequences before they choose mun. It’s just down to the individual members to interpret the information and opinion provided. | | | |
| The Trust Chairman’s AGM address on 20:15 - Jan 30 with 1845 views | barry_island |
No further comment needed from me m'lud. | |
| Swansea City, THE Austerity Club. |
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| The Trust Chairman’s AGM address on 20:29 - Jan 30 with 1817 views | JACKMANANDBOY |
This can't be true.......
"transfer from local ownership to that of an American hedge fund headed by Steve Kaplan and Jason Levien". |  |
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| The Trust Chairman’s AGM address on 20:46 - Jan 30 with 1775 views | Darran |
| The Trust Chairman’s AGM address on 19:20 - Jan 30 by vetchonian |
The super fan from Aberdare might |
*Edited. | |
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| The Trust Chairman’s AGM address on 01:37 - Jan 31 with 1544 views | ScottishEddie |
| The Trust Chairman’s AGM address on 20:46 - Jan 30 by Darran |
*Edited. |
I thought we changed but its basically a speech to big up the ex trust ppl, seriously? [Post edited 31 Jan 2019 1:38]
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| The Trust Chairman’s AGM address on 01:40 - Jan 31 with 1535 views | ScottishEddie |
| The Trust Chairman’s AGM address on 17:16 - Jan 30 by Darran |
Nobody in their right mind can argue that the Trust deserved better. [Post edited 30 Jan 2019 20:46]
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Nah just done better, £40,000 a year mind. | |
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| The Trust Chairman’s AGM address on 07:08 - Jan 31 with 1430 views | waynekerr55 |
| The Trust Chairman’s AGM address on 01:40 - Jan 31 by ScottishEddie |
Nah just done better, £40,000 a year mind. |
As opposed to millions and vastly inflated salaries despite undoing all of their good work. Conveniently forgotten that then, Ed? | |
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| The Trust Chairman’s AGM address on 08:21 - Jan 31 with 1377 views | Dewi1jack |
| The Trust Chairman’s AGM address on 20:04 - Jan 30 by Jonathans_coat |
Yeah that worked so well with the EU referendum!
People need to know the potential consequences before they choose mun. It’s just down to the individual members to interpret the information and opinion provided. |
Well 50% of the Trust voters managed to work it out for themselves to vote yes or no.
Some 250ish the right way despite the Pros and Cons being listed as well.
Some 30 million voted in the leave/ stay referendum as well.
Surprisingly the majority worked out which way they thought was the right way for them to vote without the Pros and Cons being listed.
It's also reckoned that the 95% majority of the 30 million can tie their own shoelaces and don't need people holding their fuggin hand either. |  |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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| The Trust Chairman’s AGM address on 09:17 - Jan 31 with 1317 views | monmouth |
| The Trust Chairman’s AGM address on 19:59 - Jan 30 by barry_island |
Disappointing to read that the pros and cons of each option will again be given.
Surely after the last exercise only the options should be presented? |
The problem last time was the trust board basically directed the outcome that they wanted. This cannot be allowed this time. Proper FACTUAL pros and cons, no weighting, no spin or opinion and NO 'recommendation'. |  |
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| The Trust Chairman’s AGM address on 09:20 - Jan 31 with 1314 views | Phil_S |
| The Trust Chairman’s AGM address on 09:17 - Jan 31 by monmouth |
The problem last time was the trust board basically directed the outcome that they wanted. This cannot be allowed this time. Proper FACTUAL pros and cons, no weighting, no spin or opinion and NO 'recommendation'. |
Which was confirmed on Monday |  | | |
| The Trust Chairman’s AGM address on 09:41 - Jan 31 with 1288 views | monmouth |
| The Trust Chairman’s AGM address on 09:20 - Jan 31 by Phil_S |
Which was confirmed on Monday |
Good man | |
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| The Trust Chairman’s AGM address on 09:53 - Jan 31 with 1262 views | swancity |
Encouraging and pleasing to see that the Trust are now at last making some real progress albeit slowly. With the likes of Lewis Williams Hamer out of the way there’s a decent chance that they will now actually now fight for what is theirs. Good luck to Phil
Sumbler with this. I admire his resolve.
Until Jenkins Dineen etc are out of the Club it’s supporters can’t regroup. It’s become a fragmented disjointed cash cow for the hedge fund and the unrest amongst fans on match days is now being transmitted into the stadium.
Our imminent slide down the Leagues can be arrested. But a lot needs to happen first. | |
| Only an idiot would eat a turkey curry on Christmas day |
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| The Trust Chairman’s AGM address on 10:18 - Jan 31 with 1214 views | waynekerr55 |
| The Trust Chairman’s AGM address on 09:53 - Jan 31 by swancity |
Encouraging and pleasing to see that the Trust are now at last making some real progress albeit slowly. With the likes of Lewis Williams Hamer out of the way there’s a decent chance that they will now actually now fight for what is theirs. Good luck to Phil
Sumbler with this. I admire his resolve.
Until Jenkins Dineen etc are out of the Club it’s supporters can’t regroup. It’s become a fragmented disjointed cash cow for the hedge fund and the unrest amongst fans on match days is now being transmitted into the stadium.
Our imminent slide down the Leagues can be arrested. But a lot needs to happen first. |
Louder! | |
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| The Trust Chairman’s AGM address on 10:27 - Jan 31 with 1185 views | Phil_S |
| The Trust Chairman’s AGM address on 01:37 - Jan 31 by ScottishEddie |
I thought we changed but its basically a speech to big up the ex trust ppl, seriously? [Post edited 31 Jan 2019 1:38]
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If thats what you want it to be then thats what you will make it Bob
Of course it is traditional (and right) in a AGM address to thank those that do what they do at the start. And rightly so. | | | |
| The Trust Chairman’s AGM address on 10:37 - Jan 31 with 1165 views | swancity |
| The Trust Chairman’s AGM address on 10:27 - Jan 31 by Phil_S |
If thats what you want it to be then thats what you will make it Bob
Of course it is traditional (and right) in a AGM address to thank those that do what they do at the start. And rightly so. |
But to be fair your praise has gone way over the top hasn’t it. Say thanks but it’s a bit cringeworthy. | |
| Only an idiot would eat a turkey curry on Christmas day |
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