| FAO Phil S or The Trust Board Members 22:57 - Sep 10 with 6998 views | _ |
Can you enlighten me please, when exactly did we purchase Mel Nurse's shares?
Thanks |  |
| |  |
| FAO Phil S or The Trust Board Members on 11:52 - Sep 11 with 2308 views | vetchonian |
| FAO Phil S or The Trust Board Members on 10:57 - Sep 11 by _ |
So who made the decision on behalf of the Club then?.
I'm guessing the Trust were part of that decision?
And there's no agenda FFS why don't people just grow up a bit? This was raised last night by HarryPalmer and Vetchonian.
So I became curious and tried to find some information out relating to the process of how it happened.
Lisa kindly responded last night but now she seems to have gone absent. The promise of Phil S to communicate more seems to have been forgotten and nothing also from Godden and Cude.
Hopefully they can shine some light on what exactly happened because I couldn't find much from the Trust website.
Anyone? |
Back Off Chris
Cant you see that you are goading the Trust board to comment on matters that may predjuice their case in any legal action.
Or is that your agenda?
Do us all a favour read that statement again...see for yourselves how your "hero" has been the villain.Yes he who put his hand in his pocket when it mattered and splashed out £50k BUT who has trousered over 4 times that in salaries and dividends apart from the millions he has made fro the sale of his shares.
It appears that the decsion was taken by the club and at that time the "sellouts" owned 75% of the shares between them so could outvote as a block the Trust....and they all were set to gain from the transaction!
Stop it Chris you are not doing the club any good with this you are causing division and frustration amongst the fan base at a time when it is not needed.
Do us all afavour and go and support CCFC |  |
| |
| FAO Phil S or The Trust Board Members on 11:56 - Sep 11 with 2294 views | Uxbridge |
| FAO Phil S or The Trust Board Members on 11:52 - Sep 11 by vetchonian |
Back Off Chris
Cant you see that you are goading the Trust board to comment on matters that may predjuice their case in any legal action.
Or is that your agenda?
Do us all a favour read that statement again...see for yourselves how your "hero" has been the villain.Yes he who put his hand in his pocket when it mattered and splashed out £50k BUT who has trousered over 4 times that in salaries and dividends apart from the millions he has made fro the sale of his shares.
It appears that the decsion was taken by the club and at that time the "sellouts" owned 75% of the shares between them so could outvote as a block the Trust....and they all were set to gain from the transaction!
Stop it Chris you are not doing the club any good with this you are causing division and frustration amongst the fan base at a time when it is not needed.
Do us all afavour and go and support CCFC |
Blimey. I didn't see my name recorded there. I should probably apologise for not spending sufficient time on here but, you know, we all have lives and families and what not.
FWIW, I doubt there's anything in this thread that is prejudicial, but of course this background is all pertinent to any legal action. Am sure this doesn't need saying, but no-one from the Trust could engage in any discussions online that were of a nature that could affect the legal action. |  |
| |
| FAO Phil S or The Trust Board Members on 12:03 - Sep 11 with 2273 views | glanmorjak |
| FAO Phil S or The Trust Board Members on 11:17 - Sep 11 by _ |
No objection?
But 4 years later we had Comms asking to rewrite history and retrospectively gift those shares to the Trust?
But what were the Trust doing just signing away a chance to benefit from another 50k shares, which, as we know would've taken our ownership past the 25% mark.
There was no members consultation, in fact the members didn't have a bloody clue it was going on.
But the Trust were very much a part of the decision to keep their percentage ownership at a level which wouldn't offer protective rights.
And, there was never any discussion about this. Not in Trust meetings and certainly not with its members.
So when Harry Palmer states they 'tired to buy Mel's shares, but the other shareholders invoked the SHAG', surely he's mistaken??
Lisa?
Phil?
Andy 1?
Andy 2? |
Swansea City Football 2002 Limited-number 04305508, Total shareholding 1,000,000
In the company house site for the above company, in the company accounts for year ended 31 May 2012, an entry on the 20 November 2012, page 33, revealed that Mel Nurse had two loans from the company, £400,000 and £50,000.
The £400,000 loan was secured upon Mel's shareholding, interest free and no specified repayment date.
The £50,000 loan was subject to an interest rate of 3.5% and is repayable at the discretion of the Board of the ultimate holding company. The loan is not secured.
On the 24 December 2012 there was a resolution of authority to purchase 50,000 shares(Mel's total holding) for £400,000(Mel's debt to the company).
On the same date there was a notice of cancellation of 50,000 shares in the company, reducing it's total holding to 950,000. | | | |
| FAO Phil S or The Trust Board Members on 12:13 - Sep 11 with 2240 views | Nookiejack |
| FAO Phil S or The Trust Board Members on 12:03 - Sep 11 by glanmorjak |
Swansea City Football 2002 Limited-number 04305508, Total shareholding 1,000,000
In the company house site for the above company, in the company accounts for year ended 31 May 2012, an entry on the 20 November 2012, page 33, revealed that Mel Nurse had two loans from the company, £400,000 and £50,000.
The £400,000 loan was secured upon Mel's shareholding, interest free and no specified repayment date.
The £50,000 loan was subject to an interest rate of 3.5% and is repayable at the discretion of the Board of the ultimate holding company. The loan is not secured.
On the 24 December 2012 there was a resolution of authority to purchase 50,000 shares(Mel's total holding) for £400,000(Mel's debt to the company).
On the same date there was a notice of cancellation of 50,000 shares in the company, reducing it's total holding to 950,000. |
What happened to the £50,000 loan at 3.5% that the club had provided to Mel Nurse - given the club had cancelled the £400,000 loan in consideration for his shares? | | | |
| FAO Phil S or The Trust Board Members on 12:24 - Sep 11 with 2199 views | Nookiejack |
Are we also able to discuss on this thread how Leigh Dineen (ex Trust Chairman) acquired his shares - as wouldn’t similar Board approval have to be given?
He appeared to acquire his shares at a later date than the other shareholders.
Did the club issue new shares or did he acquire his shares from another shareholder selling at the time?
If the latter did the Trust have Right of First Refusal to buy its circa 20% of these shares? I suppose this would have been another opportunity for Trust to get to the magic 25%.
If the former did Club approve issue of new shares and did the Trust’s SD at time approve this.
Also when Leigh Dineen acquired the shares did he pay cash to another shareholder who was selling at the time or did he pay cash to the club in respect of the new issue of shares (if that was the case)?
(PS the magic 25% was flawed anyway as the Trust would be diluted Away as soon as the Yanks invested any equity into the club - as Trust wouldn’t have been able to match them). | | | |
| FAO Phil S or The Trust Board Members on 12:27 - Sep 11 with 2185 views | _ |
| FAO Phil S or The Trust Board Members on 11:50 - Sep 11 by Uxbridge |
This is just getting weird now Chris.
Anyhoo, as we're talking ancient history, and some considerable time before my tenure on the Trust board so I couldn't really explain beyond what is a matter of public record (neither could Lisa or anyone who wasn't on the Trust board in 2011, so calling them out is a bit bizarre):
a) the club bought Mel's shares.
b) they were not available for the Trust to buy. Or any other shareholder, for that matter. As anyone with a cursory knowledge of the club's history probably knows (and this was public knowledge long before I was involved with the Trust), this was at a time when all shareholders agreed that no party would exceed a 25% shareholding.
c) If the option was there, of course the members would have been consulted. That happens on major decisions, as we've seen.
d) At various times, from the time of Americans v1.0 to Americans 2.0, the Trust tried to increase its shareholding beyond the 25% threshold by making the case to the other shareholders. One of those attempts was to point out that if the Trust could buy the shares that were cancelled as part of Mel's cash out (I use the term in the loosest sense, it was for pennies in comparison, and well earned) then this could be achieved and their legacy would be far stronger. This, just like every attempt, was completely ignored by most and rejected by anyone who deemed it worthy of response.
e) This thread is insane.
I mean really, this is 7 years ago and all public knowledge. I'm puzzled by your agenda here, as surely you knew all this already. Anyway, I look forward to the next revelation, maybe about the Trust's decision making during the Sousa era. |
So the Trust didn't try to buy Mel's shares? | |
| |
| FAO Phil S or The Trust Board Members on 12:28 - Sep 11 with 2178 views | glanmorjak |
| FAO Phil S or The Trust Board Members on 12:13 - Sep 11 by Nookiejack |
What happened to the £50,000 loan at 3.5% that the club had provided to Mel Nurse - given the club had cancelled the £400,000 loan in consideration for his shares? |
In the group of companies reports made up to May 2013, page 27, amounts owed to the group by Mel Nurse, totalling £450,00 were repaid in full. | | | |
| FAO Phil S or The Trust Board Members on 12:36 - Sep 11 with 2148 views | _ |
| FAO Phil S or The Trust Board Members on 11:52 - Sep 11 by vetchonian |
Back Off Chris
Cant you see that you are goading the Trust board to comment on matters that may predjuice their case in any legal action.
Or is that your agenda?
Do us all a favour read that statement again...see for yourselves how your "hero" has been the villain.Yes he who put his hand in his pocket when it mattered and splashed out £50k BUT who has trousered over 4 times that in salaries and dividends apart from the millions he has made fro the sale of his shares.
It appears that the decsion was taken by the club and at that time the "sellouts" owned 75% of the shares between them so could outvote as a block the Trust....and they all were set to gain from the transaction!
Stop it Chris you are not doing the club any good with this you are causing division and frustration amongst the fan base at a time when it is not needed.
Do us all afavour and go and support CCFC |
Back off? You invited me to discuss this you stupid clown!!!
And what's prejudicial FFS? Are you all there or what?
Have you forgotten Harry Palmer posted some fake news and you asked me to comment already? It was only last night. 2 bottles of vodka ago?
And what statement reads anyone into being a villain? As when the shares were cancelled there wasn't even the option for the Trust to buy them. And Cooze,as SD signed the agreement along with all other Directors, which formed the basis of 'the Club'
Nobody from the Trust corrected him though. | |
| |
Login to get fewer ads
| FAO Phil S or The Trust Board Members on 12:45 - Sep 11 with 2123 views | Nookiejack |
| FAO Phil S or The Trust Board Members on 12:36 - Sep 11 by _ |
Back off? You invited me to discuss this you stupid clown!!!
And what's prejudicial FFS? Are you all there or what?
Have you forgotten Harry Palmer posted some fake news and you asked me to comment already? It was only last night. 2 bottles of vodka ago?
And what statement reads anyone into being a villain? As when the shares were cancelled there wasn't even the option for the Trust to buy them. And Cooze,as SD signed the agreement along with all other Directors, which formed the basis of 'the Club'
Nobody from the Trust corrected him though. |
(If Cooze signed some sort agreement off then demonstrates there was an Original Shareholders Agreement - I suppose that is another subject) | | | |
| FAO Phil S or The Trust Board Members on 12:50 - Sep 11 with 2098 views | Nookiejack |
| FAO Phil S or The Trust Board Members on 12:28 - Sep 11 by glanmorjak |
In the group of companies reports made up to May 2013, page 27, amounts owed to the group by Mel Nurse, totalling £450,00 were repaid in full. |
I suppose demonstrates he supported the club in its darkest hour of need - but then sold too early - as you would assume he received £450k in consideration of his shares - if your analysis is right. | | | |
| FAO Phil S or The Trust Board Members on 12:56 - Sep 11 with 2085 views | Nookiejack |
| FAO Phil S or The Trust Board Members on 12:27 - Sep 11 by _ |
So the Trust didn't try to buy Mel's shares? |
From the analysis below it looks like up to £450k would have been needed - so from Trust’s perspective would have probably depended on which year they received the £800k dividends to fund the £450k. | | | |
| FAO Phil S or The Trust Board Members on 13:01 - Sep 11 with 2061 views | _ |
| FAO Phil S or The Trust Board Members on 12:56 - Sep 11 by Nookiejack |
From the analysis below it looks like up to £450k would have been needed - so from Trust’s perspective would have probably depended on which year they received the £800k dividends to fund the £450k. |
The Trust had around 200k in the bank at that time. | |
| |
| FAO Phil S or The Trust Board Members on 13:05 - Sep 11 with 2035 views | Uxbridge |
| FAO Phil S or The Trust Board Members on 12:27 - Sep 11 by _ |
So the Trust didn't try to buy Mel's shares? |
I'm sure you feel you're making some really important point. Not entirely sure what it is. Unless you're making the point that it was the sellers who ripped up past agreements first whilst the Trust didn't? In which case I agree. | |
| |
| FAO Phil S or The Trust Board Members on 13:12 - Sep 11 with 2002 views | SkettyJack |
| FAO Phil S or The Trust Board Members on 13:05 - Sep 11 by Uxbridge |
I'm sure you feel you're making some really important point. Not entirely sure what it is. Unless you're making the point that it was the sellers who ripped up past agreements first whilst the Trust didn't? In which case I agree. |
He needs to spit it out to be honest. what is the point of this thread?? | | | |
| FAO Phil S or The Trust Board Members on 13:21 - Sep 11 with 1968 views | _ |
| FAO Phil S or The Trust Board Members on 13:05 - Sep 11 by Uxbridge |
I'm sure you feel you're making some really important point. Not entirely sure what it is. Unless you're making the point that it was the sellers who ripped up past agreements first whilst the Trust didn't? In which case I agree. |
I was just curious as to what happened back then. But also, in context as to how that would've gone down if it was happening today.
The Trust never had even the option of buying Mel's shares, did they? | |
| |
| FAO Phil S or The Trust Board Members on 13:55 - Sep 11 with 1878 views | Uxbridge |
| FAO Phil S or The Trust Board Members on 13:21 - Sep 11 by _ |
I was just curious as to what happened back then. But also, in context as to how that would've gone down if it was happening today.
The Trust never had even the option of buying Mel's shares, did they? |
Not unless you know something I don't. | |
| |
| FAO Phil S or The Trust Board Members on 15:22 - Sep 11 with 1765 views | Nookiejack |
| FAO Phil S or The Trust Board Members on 13:21 - Sep 11 by _ |
I was just curious as to what happened back then. But also, in context as to how that would've gone down if it was happening today.
The Trust never had even the option of buying Mel's shares, did they? |
Would seem to be quite a crucial point in respect of whether there was an Original Shareholders agreement. You would think if Trust Board answers this then this could potentially be prejudicial to future court case.
Also the long discussed point of whether any one shareholder was allowed to hold more than 25% of the shares.
Would also be interested to know whether Trust approved Leigh Dineen’s (ex Trust Chairman) acquisition of shares if these were acquired at a later date than the Other Selling Shareholders.
Did the club issue additional shares or did he buy them off a shareholder that was selling them. Did the Trust have Roght of First Refusal over these shares? Or for example weren’t they allowed to because of 25% rule if that ever existed? As Trust could have achieved 25% if it had bought Leigh Dineen’s 5% stake - before he did? Did Trust Supporter Director sign this off at the time? | | | |
| FAO Phil S or The Trust Board Members on 15:25 - Sep 11 with 1761 views | Darran |
What happened to the hairdressers? |  |
| |
| FAO Phil S or The Trust Board Members on 15:41 - Sep 11 with 1733 views | londonlisa2001 |
| FAO Phil S or The Trust Board Members on 15:22 - Sep 11 by Nookiejack |
Would seem to be quite a crucial point in respect of whether there was an Original Shareholders agreement. You would think if Trust Board answers this then this could potentially be prejudicial to future court case.
Also the long discussed point of whether any one shareholder was allowed to hold more than 25% of the shares.
Would also be interested to know whether Trust approved Leigh Dineen’s (ex Trust Chairman) acquisition of shares if these were acquired at a later date than the Other Selling Shareholders.
Did the club issue additional shares or did he buy them off a shareholder that was selling them. Did the Trust have Roght of First Refusal over these shares? Or for example weren’t they allowed to because of 25% rule if that ever existed? As Trust could have achieved 25% if it had bought Leigh Dineen’s 5% stake - before he did? Did Trust Supporter Director sign this off at the time? |
Who was the Trust supporter director at that time? | | | |
| FAO Phil S or The Trust Board Members on 16:39 - Sep 11 with 1645 views | costalotta |
| FAO Phil S or The Trust Board Members on 15:41 - Sep 11 by londonlisa2001 |
Who was the Trust supporter director at that time? |
LD? |  | | |
| FAO Phil S or The Trust Board Members on 17:07 - Sep 11 with 1620 views | STID2017 |
| FAO Phil S or The Trust Board Members on 09:22 - Sep 11 by Darran |
Oh bloody hell he doesn’t even know about MN and the car park.  |
Has the underground car park been built yet or is that on a "need to know" basis ?  |  |
| |
| FAO Phil S or The Trust Board Members on 20:14 - Sep 11 with 1465 views | BillyChong |
| FAO Phil S or The Trust Board Members on 15:22 - Sep 11 by Nookiejack |
Would seem to be quite a crucial point in respect of whether there was an Original Shareholders agreement. You would think if Trust Board answers this then this could potentially be prejudicial to future court case.
Also the long discussed point of whether any one shareholder was allowed to hold more than 25% of the shares.
Would also be interested to know whether Trust approved Leigh Dineen’s (ex Trust Chairman) acquisition of shares if these were acquired at a later date than the Other Selling Shareholders.
Did the club issue additional shares or did he buy them off a shareholder that was selling them. Did the Trust have Roght of First Refusal over these shares? Or for example weren’t they allowed to because of 25% rule if that ever existed? As Trust could have achieved 25% if it had bought Leigh Dineen’s 5% stake - before he did? Did Trust Supporter Director sign this off at the time? |
This would be interesting to know | | | |
| FAO Phil S or The Trust Board Members on 10:08 - Sep 12 with 1160 views | Loyal |
| FAO Phil S or The Trust Board Members on 10:57 - Sep 11 by _ |
So who made the decision on behalf of the Club then?.
I'm guessing the Trust were part of that decision?
And there's no agenda FFS why don't people just grow up a bit? This was raised last night by HarryPalmer and Vetchonian.
So I became curious and tried to find some information out relating to the process of how it happened.
Lisa kindly responded last night but now she seems to have gone absent. The promise of Phil S to communicate more seems to have been forgotten and nothing also from Godden and Cude.
Hopefully they can shine some light on what exactly happened because I couldn't find much from the Trust website.
Anyone? |
If you knew about the car park you would have a starting point for your question. |  |
| Nolan sympathiser, clout expert, personal friend of Leigh Dineen, advocate and enforcer of porridge swallows.
The official inventor of the tit w@nk. | | Poll: | Who should be Swansea number 1 |
| |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
