| From The Trust 09:59 - Jan 6 with 31237 views | Phil_S |
News from the Trust
Discussions on sale of Trust shares put on hold.
Dear Phil
We have been advised by the majority owners of Swansea City that they intend to put discussions around the sale of some of the Trust's shares to the owners of the club on hold. When informing us of this, the owners of the club cited the ongoing concerns among some Trust and Trust Board members about aspects of the share sale and also the majority owners own desire to concentrate on on-field matters.
As the mandate from Trust members to sell shares was given in July 2017 and there will now be a further delay in fulfilling that mandate, the Trust Board can confirm that a further members’ consultation will take place to ensure the Trust Board is acting on the current views of its membership on how we proceed from this point.
We will provide a further update to members as soon as possible.
Best wishes
The Swans Trust Team |  | | |  |
| From The Trust on 10:28 - Jan 6 with 3118 views | londonlisa2001 |
| From The Trust on 10:22 - Jan 6 by harryhpalmer |
Someone at the Trust needs to have a word with Dafydd Pritchard after his reporting of this:
"At one stage, the Trust considered taking legal action over the manner in which the existing directors sold their shares but, if this purchase of half its stake was ratified, the Trust, following legal advice, has said it would be obliged not to pursue any legal action." |
If the deal had happened, legal action could not be taken over the INITIAL purchase of the club.
That was part of the deal that was voted on by members.
A new vote, of course, will now occur. Who knows what the situation will be after that. |  | | |
| From The Trust on 10:31 - Jan 6 with 3096 views | whoflungdung |
Are there any suggestions of criminal activity within this sad saga | |
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| From The Trust on 10:33 - Jan 6 with 3081 views | harryhpalmer |
| From The Trust on 10:28 - Jan 6 by londonlisa2001 |
If the deal had happened, legal action could not be taken over the INITIAL purchase of the club.
That was part of the deal that was voted on by members.
A new vote, of course, will now occur. Who knows what the situation will be after that. |
It's the twist he has put on that wording. Making it sound like the Trust has no case at all.
Rather than say the Trust were advised they had a strong case for legal action, but this would be lost if they sold their shares.
The reporting of this situation and the call for Jenkins head makes my blood boil. | |
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| From The Trust on 10:38 - Jan 6 with 3028 views | exiledclaseboy |
| From The Trust on 10:00 - Jan 6 by Neath_Jack |
New vote now then surely? |
Definitely. |  |
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| From The Trust on 10:39 - Jan 6 with 3026 views | londonlisa2001 |
| From The Trust on 10:33 - Jan 6 by harryhpalmer |
It's the twist he has put on that wording. Making it sound like the Trust has no case at all.
Rather than say the Trust were advised they had a strong case for legal action, but this would be lost if they sold their shares.
The reporting of this situation and the call for Jenkins head makes my blood boil. |
Ah. I just assumed he can't write very well to be honest.
Based on the preponderance of evidence. | | | |
| From The Trust on 10:39 - Jan 6 with 3019 views | Darran |
| From The Trust on 10:05 - Jan 6 by Phil_S |
Club Statement
STATEMENT ON BEHALF OF STEVE KAPLAN AND JASON LEVIEN.
In the aftermath of the change in ownership at the football club, we entered into a variety of discussions with the Trust designed to build a stronger and more workable relationship between the two parties.
Part of those discussions centred on a proposed percentage sale of the Trust’s shareholding which would be purchased by us.
The offer would have seen the Trust shares purchased on terms more preferential than those accepted by the previous shareholders in July 2016.
However, we understand there are still areas of concern amongst members of the Trust board and the membership as a whole over the offer.
At this stage, we do not want the proposed share deal to become a source of antagonism between ourselves and the Trust, especially when the club finds itself in such a challenging position on the pitch.
Neither ourselves nor the Trust should allow any other issue to overshadow the club’s fight to maintain its Premier League status and the upcoming transfer window.
Therefore, discussions have been put on hold while we devote all our time, energy and resources into addressing the immediate challenges facing the club.
We still intend maintaining an excellent relationship with the Trust leadership and the lines of communication at this important stage in the club’s history remain open.
https://www.swanseacity.com/news/club-statement-0 |
Every sellout/buyout likes to emphasise that our on field problems are connected to our off field problems don’t they? |  |
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| From The Trust on 10:41 - Jan 6 with 3002 views | Uxbridge |
It's the only logical conclusion, and I don't think there's anyone who thinks it could go any other way. Within the Trust board at least... |  |
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| From The Trust on 10:46 - Jan 6 with 2948 views | londonlisa2001 |
| From The Trust on 10:39 - Jan 6 by Darran |
Every sellout/buyout likes to emphasise that our on field problems are connected to our off field problems don’t they? |
That's because Uxbridge is supposed to be signing us a new right back, Clasie is signing a new attacking midfielder and I'm signing a new winger. This will allow us to concentrate on that.
Cristiano, I'm coming to get you... | | | |
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| From The Trust on 10:48 - Jan 6 with 2936 views | Joe_bradshaw |
| From The Trust on 10:05 - Jan 6 by Phil_S |
Club Statement
STATEMENT ON BEHALF OF STEVE KAPLAN AND JASON LEVIEN.
In the aftermath of the change in ownership at the football club, we entered into a variety of discussions with the Trust designed to build a stronger and more workable relationship between the two parties.
Part of those discussions centred on a proposed percentage sale of the Trust’s shareholding which would be purchased by us.
The offer would have seen the Trust shares purchased on terms more preferential than those accepted by the previous shareholders in July 2016.
However, we understand there are still areas of concern amongst members of the Trust board and the membership as a whole over the offer.
At this stage, we do not want the proposed share deal to become a source of antagonism between ourselves and the Trust, especially when the club finds itself in such a challenging position on the pitch.
Neither ourselves nor the Trust should allow any other issue to overshadow the club’s fight to maintain its Premier League status and the upcoming transfer window.
Therefore, discussions have been put on hold while we devote all our time, energy and resources into addressing the immediate challenges facing the club.
We still intend maintaining an excellent relationship with the Trust leadership and the lines of communication at this important stage in the club’s history remain open.
https://www.swanseacity.com/news/club-statement-0 |
“The offer would have seen the Trust shares purchased on terms more preferential than those accepted by by the previous shareholders in July 2016.”
That’s their defence right there.
Interesting. |  |
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| From The Trust on 10:52 - Jan 6 with 2910 views | Phil_S |
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| From The Trust on 10:59 - Jan 6 with 2868 views | Algorfajack |
| From The Trust on 10:52 - Jan 6 by Phil_S |
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I voted for litigation last time around & what has come to light subsequently, has only reinforced my belief that the legal route is the only course of action |  |
| Prediction league winner 2016-2017 aka llanedeyrnjack |
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| From The Trust on 11:01 - Jan 6 with 2861 views | jacksfullaces |
these are investors, no more, no less.
this is a business decision, it was attractive to buy the shares when we were strong and stable, a far riskier proposition now.
whilst there may be spin on both sides, surely that is the nub of it? they don't need any more of a stranglehold on the club, our previous owners already gave them that? | | | |
| From The Trust on 11:02 - Jan 6 with 2844 views | exiledclaseboy |
| From The Trust on 10:12 - Jan 6 by TheResurrection |
So it's taken the owners to call a halt to this and not our very own Trust Board.
I'm not sure I believe their reasons, but this should have been the dog wagging the tail here instead of the other way around.
Ah well, at least we can breathe a bit more now... |
It’s easier to make decisions when you only have to get two people to agree. | |
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| From The Trust on 11:11 - Jan 6 with 2780 views | Neath_Jack |
| From The Trust on 11:02 - Jan 6 by exiledclaseboy |
It’s easier to make decisions when you only have to get two people to agree. |
Isn't there 27 of the Yanks? Possibly more? |  |
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| From The Trust on 11:12 - Jan 6 with 2779 views | Jackfath |
The main focus for the trust must now be to educate those who are members on the real facts. Let's hope that a decent job is done prior to any new vote so more members actually bother this time. Let's not forget that the main "legal action" voice on here is only representative of this board and may not represent all members.
ECB. Can I ask you form a sub committee to get this done. Thank you please.
Edit. It would also be a great time for a huge membership campaign. [Post edited 6 Jan 2018 11:17]
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| From The Trust on 11:15 - Jan 6 with 2762 views | exiledclaseboy |
| From The Trust on 11:11 - Jan 6 by Neath_Jack |
Isn't there 27 of the Yanks? Possibly more? |
27 investors but I doubt anyone other than “Steve and Jase” are involved in decision making. | |
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| From The Trust on 11:18 - Jan 6 with 2741 views | oh_tommy_tommy |
| From The Trust on 10:19 - Jan 6 by Landore_Jack |
Maybe the American consortium does not have the money to purchase the shares? Just a thought. |
They looking for another bunch of actors Dr’s etc looking to make a quick buck
Yanks out |  |
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| From The Trust on 11:26 - Jan 6 with 2687 views | TheResurrection |
| From The Trust on 11:11 - Jan 6 by Neath_Jack |
Isn't there 27 of the Yanks? Possibly more? |
Andrew Cude (OG) 89th minute.
Slice into top corner from edge of 18 yard box
😂 |  |
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| From The Trust on 11:26 - Jan 6 with 2688 views | monmouth |
The cut off date for the vote needs to be considered carefully. Could be an influx of Yankee soldiers. Don’t underestimate the lengths these will go to.
In fact, given what’s happened, if the Board is now United, just Sue their arses off. You have the power. Forget any vote. I would say that now though....
Seriously, I think it is entirely defensible. They are clearly reneging on a deal that heavily favoured them, with the usual accompanying bullshit. There is no possible future relationship, and there is no future point in a minority shareholding with Venkys mark 2.
Or give two choices on the vote
1) Immediate legal action or
2) Legal action when relegation is confirmed |  |
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| From The Trust on 11:28 - Jan 6 with 2669 views | swancity |
There are several arses now "making buttons" as my grandfather used to say. | |
| Only an idiot would eat a turkey curry on Christmas day |
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| From The Trust on 11:34 - Jan 6 with 2628 views | Pegojack |
| From The Trust on 10:59 - Jan 6 by Algorfajack |
I voted for litigation last time around & what has come to light subsequently, has only reinforced my belief that the legal route is the only course of action |
This.
Get the feckers into court, end of. |  | | |
| From The Trust on 11:36 - Jan 6 with 2613 views | costalotta |
| From The Trust on 11:26 - Jan 6 by monmouth |
The cut off date for the vote needs to be considered carefully. Could be an influx of Yankee soldiers. Don’t underestimate the lengths these will go to.
In fact, given what’s happened, if the Board is now United, just Sue their arses off. You have the power. Forget any vote. I would say that now though....
Seriously, I think it is entirely defensible. They are clearly reneging on a deal that heavily favoured them, with the usual accompanying bullshit. There is no possible future relationship, and there is no future point in a minority shareholding with Venkys mark 2.
Or give two choices on the vote
1) Immediate legal action or
2) Legal action when relegation is confirmed |
Given the way the owners are raping the club of its quality then surely we must begin now?
What's the point of waiting, they don't seem to be and look like are selling of what's left of our quality. Rumours of Mawson, fabianski and Ki being sold off with replacements coming from places like Norway and scotlands top division oh, and west end.
Time to take the fight to them.
Radio silence from here on in strategy and tactics. Let em have it with what we have at our disposal. |  | | |
| From The Trust on 11:37 - Jan 6 with 2600 views | monmouth |
| From The Trust on 11:15 - Jan 6 by exiledclaseboy |
27 investors but I doubt anyone other than “Steve and Jase” are involved in decision making. |
Surely the case? The investors just put up money for the investment managers to manage on their behalf. The thought that Carly Minge-ogue, or whatever our second rate actress ‘owner’ is called and all the other credulous numpties have any decision making capacity is, being generous, highly unlikely.
If they lose, it probably does raise a capital issue for them though. No way would the original consortium put up more for a championship club. I wonder if they’d try and force the sellouts to pay, like they were doing with Jenkins on the ‘deal’. They were presumably banking on Sky money to make up the difference for that deal, but now that is going, so maybe they can’t proceed anyway? A Trust win in court could lead to some spectacular eruptions.
Just speculating. | |
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| From The Trust on 11:42 - Jan 6 with 2560 views | max936 |
| From The Trust on 11:26 - Jan 6 by monmouth |
The cut off date for the vote needs to be considered carefully. Could be an influx of Yankee soldiers. Don’t underestimate the lengths these will go to.
In fact, given what’s happened, if the Board is now United, just Sue their arses off. You have the power. Forget any vote. I would say that now though....
Seriously, I think it is entirely defensible. They are clearly reneging on a deal that heavily favoured them, with the usual accompanying bullshit. There is no possible future relationship, and there is no future point in a minority shareholding with Venkys mark 2.
Or give two choices on the vote
1) Immediate legal action or
2) Legal action when relegation is confirmed |
Agree with that, the shit as hit the fan on the pitch and panic as set in amongst the Yanks, Jenkins and his mates have even made matters worse with their statements of fiction. |  |
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| From The Trust on 11:43 - Jan 6 with 2559 views | 34dfgdf54 |
| From The Trust on 11:15 - Jan 6 by exiledclaseboy |
27 investors but I doubt anyone other than “Steve and Jase” are involved in decision making. |
Correct. They’ve got these guys to invest and it’s on the majority shareholders (Levien and Kaplan) to look after their investment. The “27” will be royally f*cked off. Good. [Post edited 6 Jan 2018 11:44]
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