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|Trust members’ forum tonight. |
at 20:00 14 Dec 2017
Chairman’s opening remarks reproduced below.
Prior to the start of tonight’s Forum. Nigel Hamer, Secretary to the Swans Trust Board announced that current Trust Vice Chairman, Alan Lewis will be taking up the vacant position of Trust Chairman with immediate effect. Alan will also take on the position of Associate Director of the Club previously held by Will Morris.
Alan Lewis then addressed the Members Forum
Tonight’s Forum is as much an opportunity for members to ask questions as it is for us as a Trust Board to update you on recent events. We will open up the floor for questions after providing the update but first I thought it would be helpful to introduce you to those members of the Trust Board who have been able to join us tonight. It is particularly pleasing to welcome some of the new co-opted members who joined the Board earlier this week. There has been criticism that all the Trust Board are not known to members and one of the things we will be implementing shortly is to update the ‘Meet the Trust Board’area of the website with a short profile on each Board Members and a photo.
Just to go back over the events of the last few months; a period which has been something of a turbulent one both for the Trust off the field and the team on the pitch.
We have to start back in the Summer when members who voted in our consultation exercise provided a clear mandate to the Trust Board to pursue the sale of some shares to the majority shareholders on the terms outlined in the consultation pack which was sent to all members. We have to remember that this was the most comprehensive consultation exercise ever carried out by this organisation and yes there was a clear recommendation from the Trust Board but equally the alternative options were comprehensively covered in the documentation sent out to members.
Discussions then started with the majority shareholders legal team on drawing up the detailed paperwork to formalise the whole deal into a share purchase agreement. Progress was initially slow and it was not until October that questions emerged around some of the detailed aspects of the deal. There were a number of clarifications which were required around the wording of various clauses in the draft agreement we were considering. These clauses were still under discussion however and the main focus at that point was around the financial features of the deal. Whilst the gross figures quoted in the consultation exercise were confirmed, details emerged of a payment structure which, whilst in line with that payable to the previous shareholders in 2016, contained further detail which we had been unaware of. The payment structure was not therefore consistent with the figures featured in the consultation documents.
Questions around the payment structure were raised with the majority shareholders who pointed out that it was in line with the original deal with the previous shareholders. The debate around how we should then move forward led to a difference of views amongst the Trust Board with the majority view being that discussions should continue but always on the understanding that if terms could not be brought back in line with the consultation exercise we would go back to our members. Phil Sumbler felt at that point that in view of the information that had already been communicated to our members, he could not lead the Trust down that path. In his view the working relationship with the Majority Shareholders had broken down. Matt Griffiths also resigned for similar reasons.
Whilst disappointed to lose Phil and Matt the rest of the Trust Board agreed that the discussions between the legal teams should continue. As highlighted in our statement to members of 24 November there has been positive progress, with the majority owners being receptive in helping to find an amenable solution to allow the deal to move forward. The concerns around the financial aspects of the deal have been resolved and the payments are now fully in line with the detail provided to members in our consultation documentation
Discussions on the wording of various clauses comprising the proposed Share Holders Agreement have continued between the Legal Teams. One area of discussion has been around the original proposal, contained in the consultation papers, to consider providing 20% of the proceeds of the sale for stadium improvement/expansion. The important element, being set into the agreement is that any decision will be taken by members once detailed proposals have been made available. Other ways in which the proceeds from this sale can be used are governed to some extent by our rules and supporting legislation and this also needs to be covered. Other areas of discussion have been around the ability of the Trust Board as shareholders, to raise concerns around the actions of other shareholders etc. The Trust Board is conscious of its role as a shareholder and Director in the Football Club and its obligations around confidentiality and collective responsibility. At the same time it needs to reserve the right to voice the concerns of its members in an appropriate manner and we want to ensure that is clear in any agreement.
As a Trust Board we would have liked to have had this finalised by now but we have always acknowledged the need to ensure that the final product is in line with the detail provided to members in the Summer. Despite some of the queries that have arisen during this negotiation period, we now feel that we are close to finalising an agreement which will be fully in line with the detail provided in the members consultation documents. We are not quite there yet however and the commitment remains that if the final paperwork does not reflect the detail in the consultation documents then we will consult further with members.
We have another topic of general interest which we would like to update you on but perhaps before I mention that we can pause at this point and open up the floor for questions around what has been said so far.
School’s Enterprise Challenge
For some time now the Swans Trust board has been looking at ways to engage with the younger generation of Swans fans so that they are aware of its origins, purpose and ongoing work. Trust Board Members have been working with the Welsh Joint Examining Committee (WJEC) to develop an optional Enterprise Challenge as part of the Welsh Baccalaureate Qualification for 14-16 year olds. That qualification is a compulsory part of the curriculum for pupils of that age and the Trust’s Challenge would be an option within that. The WJEC have recently approved the Challenge, meaning that youngsters will in the future have the opportunity to come into contact and work with the Trust as part of their everyday studies. Hopefully this will lead to some of them having a greater ongoing involvement in the years to come.
The task now facing the board is to gradually roll out the challenge to schools in order to give pupils the opportunity to participate.
If any member would like further information about the Enterprise Challenge they can contact firstname.lastname@example.org
Please mark the email for the attention of Sian Davies (Schools in Neath Port Talbot and to the East) or Roger Goodwin (Schools in Swansea and to the West)
|The Ashes 2017/18|
at 21:55 22 Nov 2017
Starts in just over two hours in Brisbane. Neither team is particularly special this time. England’s batting line up is long but flaky, Australia’s pace attack sometimes dangerous but injury prone. The phoney war of words from the Aussie players in the build up has been increasingly silly. Nathan Lyon made himself look like a complete tool.
I think England’s propensity for top order collapses will see Australia win. 3-1. Hope I’m wrong etc. C’mon, England.
|Brendan Rodgers |
at 22:58 4 Nov 2017
Give him a ring, pay him what he wants, explain that he’s kicking his heels in a pointless league that his team will win every f*cking year without even trying. Basically just get him back here to sort this mess out. Whatever it takes.
|Tears for Fears|
at 19:12 26 Oct 2017
One of my favourite bands of the 80s and 90s, “comeback” show on Radio 2 at 8pm tonight. Also on TV on the red button. If you’re interested. If not, ignore.
|Slovenia v Scotland |
at 16:36 8 Oct 2017
What’s the best result for Wales? Scotland win? Slovenia win? Draw?
|I was quite encouraged by today. |
at 16:51 19 Aug 2017
Yeah the result doesn't look good but for 75 minutes we competed well and after last week that was encouraging. The formation worked while we kept it but things fell apart when Clement made the subs. But he had to try something as we were chasing the game. I'd like to see Llorente up top with Abrahams doing what Ayew absolutely failed to do today. The obvious main worry is where the goals are coming from. It wasn't a 4/0 game today.
|Usain Bolt -BBC1|
at 21:39 31 Jul 2017
One of the best sports documentaries I've seen for a long time. Superb watch.
|Anthony Scaramucci (no fandango jokes please) |
at 20:06 31 Jul 2017
So trump has (reportedly, not yet confirmed by the White House which probably doesn't know yet anyway) fired his new communications director, Scaramucci, whose appointment just over a week ago led directly to the resignation of the previous White House press secretary and trump's previous chief of staff. The trump presidency is now beyond parody and a running joke on the world stage. It's f*cking hilarious.
Malcolm Tucker they need, he'd sort things out.
[Post edited 31 Jul 2017 20:09]
|Women's cricket World Cup Final|
at 17:17 23 Jul 2017
Building to a tight climax. India need 29 from 33. Five wickets left. Make that four wickets left. C'mon England.
A very good game of cricket it's been too.
|The 13th Doctor|
at 12:54 16 Jul 2017
Announced after the men's final at Wimbledon today.
Will the BBC finally tip all the "PC gone mad!" brigade over the edge and cast a woman in the part? Or a black actor of either gender? Or will they play it safe? Again.
|Test Match Special|
at 12:42 18 Jun 2017
I'm sitting in the garden listening to the TMS commentary of the ICC Champioms Trophy final and it's struck me that Jonathan Agnew is enjoying saying the name "Farkhar" altogether too much.
at 18:33 14 Jun 2017
Resigns as LibDem leader.
|The madness continues |
at 15:57 12 Jun 2017
Queen's Speech likely to be delayed because the government doesn't know what to put in it. DUP must be playing hardball. Also, the ink takes ages to dry.
Her Majesty's plans for Royal Ascot suddenly thrown into chaos.
1922 Committee meeting tonight to tell the PM how abjectly useless she is. She must be looking forward to that.
Boris sends a whatsapp message of total support for May that he absolutely didn't know was going to be leaked. The vultures are circling.
Brexit talks due to start next week. EU is ready, we quite patently aren't as we have a laughing stock of a prime minister and a chaotic "government".
In the meantime Mrs May is "getting on with the job". It's just that no one is quite sure what that job is.
Top drawer entertainment fair play. Like a Jeffrey Archer potboiler on acid.
at 20:00 9 Jun 2017
BBC1 8.30om. No idea who's in but it should be a fracker given the events of the last 24 hours.
|The election results thread|
at 19:10 8 Jun 2017
Polls close 10pm. BBC, ITV and SKY release the results of their joint exit poll also at 10pm. Some of you may remember election night two years ago when the exit poll predicted a Tory win. It was roundly ridiculed by politicians of all parties and most us on here. You could see Professor John Curtice (who oversees the poll) visibly wilting and wondering if he'd just wrecked his career and reputation. The same Prof Curtice got progressively more smug as the night rolled on and it turned out his poll was more or less spot on.
First result due about 11pm. From Sunderland.
The outcome may be a foregone conclusion but it should be exciting for about an hour or so.
Get it stickied for 24 hours or so please, mods.
Oh, and can someone keep Perch and Bluey away from sharp objects please. Just in case.
|Final election predictions |
at 19:44 7 Jun 2017
What's yours? What you think WILL happen not what you WANT to happen. Post them here and we can all laugh at the wrong ones on Thursday night/Friday morning.
Tory majority of 53 I reckon.
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