| FAO Phil S or The Trust Board Members 22:57 - Sep 10 with 7190 views | _ |
Can you enlighten me please, when exactly did we purchase Mel Nurse's shares?
Thanks | |
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| FAO Phil S or The Trust Board Members on 11:52 - Sep 11 with 2335 views | 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 | |
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| FAO Phil S or The Trust Board Members on 11:56 - Sep 11 with 2321 views | Uxbridge |
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. | |
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| FAO Phil S or The Trust Board Members on 12:03 - Sep 11 with 2300 views | 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. | | | |
| FAO Phil S or The Trust Board Members on 12:13 - Sep 11 with 2267 views | 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? | | | |
| FAO Phil S or The Trust Board Members on 12:24 - Sep 11 with 2226 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 2212 views | _ |
So the Trust didn't try to buy Mel's shares? | |
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| FAO Phil S or The Trust Board Members on 12:28 - Sep 11 with 2205 views | 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. | | | |
| FAO Phil S or The Trust Board Members on 12:36 - Sep 11 with 2175 views | _ |
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. | |
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| FAO Phil S or The Trust Board Members on 12:45 - Sep 11 with 2150 views | Nookiejack |
(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 2125 views | Nookiejack |
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 2112 views | 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. | | | |
| FAO Phil S or The Trust Board Members on 13:01 - Sep 11 with 2088 views | _ |
The Trust had around 200k in the bank at that time. | |
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| FAO Phil S or The Trust Board Members on 13:05 - Sep 11 with 2062 views | 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. | |
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| FAO Phil S or The Trust Board Members on 13:12 - Sep 11 with 2029 views | SkettyJack |
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 1995 views | _ |
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? | |
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| FAO Phil S or The Trust Board Members on 13:55 - Sep 11 with 1905 views | Uxbridge |
Not unless you know something I don't. | |
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| FAO Phil S or The Trust Board Members on 15:22 - Sep 11 with 1792 views | 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? | | | |
| FAO Phil S or The Trust Board Members on 15:25 - Sep 11 with 1788 views | Darran |
What happened to the hairdressers? | |
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| FAO Phil S or The Trust Board Members on 15:41 - Sep 11 with 1760 views | londonlisa2001 |
Who was the Trust supporter director at that time? | | | |
| FAO Phil S or The Trust Board Members on 16:39 - Sep 11 with 1672 views | costalotta |
LD? | | | |
| FAO Phil S or The Trust Board Members on 17:07 - Sep 11 with 1647 views | STID2017 |
Has the underground car park been built yet or is that on a "need to know" basis ?  | |
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| FAO Phil S or The Trust Board Members on 20:14 - Sep 11 with 1492 views | BillyChong |
This would be interesting to know | | | |
| FAO Phil S or The Trust Board Members on 10:08 - Sep 12 with 1187 views | Loyal |
If you knew about the car park you would have a starting point for your question. | |
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