| Voting forms have arrived then 10:24 - Jul 12 with 20211 views | Darran |
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| Voting forms have arrived then on 10:36 - Jul 15 with 2086 views | dobjack2 |
| Voting forms have arrived then on 09:48 - Jul 15 by Darran |
Well, everybody has to sometimes break the rules. |
Forty Five Hundred Times. |  | | |
| Voting forms have arrived then on 13:03 - Jul 15 with 2030 views | Pegojack |
My e-mail has just gone in, which concludes the voting of the Pego panel.
Let's sort those greedy arrogant feckers out, once and for all. |  | | |
| Voting forms have arrived then on 19:32 - Jul 15 with 1951 views | plasjack |
Voted today, I wont say what I voted for, but it wasn't for the Status Quo. |  | | |
| Voting forms have arrived then on 22:34 - Jul 15 with 1867 views | SwanDownUnder |
| Voting forms have arrived then on 11:44 - Jul 14 by Uxbridge |
It didn't last time. Must admit I'm not entirely sure either how the silent, generally older, masses will vote. Will be very interesting. If it's a large majority in favour then that will definitely send a message. |
How are you are on the board, you advised for people to not vote for legal action then voted for legal action? | | | |
| Voting forms have arrived then on 22:43 - Jul 15 with 1851 views | Uxbridge |
| Voting forms have arrived then on 22:34 - Jul 15 by SwanDownUnder |
How are you are on the board, you advised for people to not vote for legal action then voted for legal action? |
Mate, if you think that's bad you're going to lose your shit when you find out I'm not the only one.
I've never been a fan of democratic votes either. Some right chumps could get elected... #votecude |  |
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| Voting forms have arrived then on 08:01 - Jul 16 with 1756 views | SwanDownUnder |
| Voting forms have arrived then on 22:43 - Jul 15 by Uxbridge |
Mate, if you think that's bad you're going to lose your shit when you find out I'm not the only one.
I've never been a fan of democratic votes either. Some right chumps could get elected... #votecude |
Jesus | | | |
| Voting forms have arrived then on 10:52 - Jul 16 with 1675 views | 34dfgdf54 |
| Voting forms have arrived then on 12:28 - Jul 14 by exiledclaseboy |
Tomorrow’s forum may give an indication of where the membership is. |
Sorry if I've missed anything. What was the general feeling at the forum yesterday? |  | | |
| Voting forms have arrived then on 14:53 - Jul 16 with 1565 views | Phil_S |
| Voting forms have arrived then on 10:52 - Jul 16 by 34dfgdf54 |
Sorry if I've missed anything. What was the general feeling at the forum yesterday? |
There were some strong (and clear) points from some against taking the litigation route - harm to the club, preference to keep shareholding, fear of the reaction kind of fears which I get
I would say the general mood was to follow the recommendation of the Trust board although it was not maybe as strong a mood to follow that recommendation as say on here for example |  | | |
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| Voting forms have arrived then on 15:01 - Jul 16 with 1554 views | 34dfgdf54 |
| Voting forms have arrived then on 14:53 - Jul 16 by Phil_S |
There were some strong (and clear) points from some against taking the litigation route - harm to the club, preference to keep shareholding, fear of the reaction kind of fears which I get
I would say the general mood was to follow the recommendation of the Trust board although it was not maybe as strong a mood to follow that recommendation as say on here for example |
It's all jargon to me, but IF we were to take the legal route, would that give the green light for the Americans to pay out dividends to the investors? At present that's difficult due to the trust owning the 21%
Or is is simply implausible as we will never be in a possession to make profit while being in the Championship? | | | |
| Voting forms have arrived then on 15:32 - Jul 16 with 1525 views | Wingstandwood |
| Voting forms have arrived then on 14:53 - Jul 16 by Phil_S |
There were some strong (and clear) points from some against taking the litigation route - harm to the club, preference to keep shareholding, fear of the reaction kind of fears which I get
I would say the general mood was to follow the recommendation of the Trust board although it was not maybe as strong a mood to follow that recommendation as say on here for example |
"Preference to keep shareholding"?
But imo the trust as a major shareholder has been repeatedly ignored e.g. requests for Jenkins removal to prevent further damage and has no voting rights anyhow. What's the point of a shareholding with no say or power?
I'd rather have £20,000,000 (if it could be done or is workable) either kept aside for a rainy day to buy the club back again one day, or have it as some form of community fund to give to local organisations and charities to benefit the wider community. [Post edited 16 Jul 2019 15:56]
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| Voting forms have arrived then on 15:33 - Jul 16 with 1524 views | Phil_S |
| Voting forms have arrived then on 15:01 - Jul 16 by 34dfgdf54 |
It's all jargon to me, but IF we were to take the legal route, would that give the green light for the Americans to pay out dividends to the investors? At present that's difficult due to the trust owning the 21%
Or is is simply implausible as we will never be in a possession to make profit while being in the Championship? |
Difficult one and probably one that Lisa maybe able to answer better. But if we took legal action, we would remain a shareholder until such point that we won the case at which point the likely remedy would be the full sale of the Trust shareholding
At that point the dividends could be issued. Us having a shareholding now does not prevent that, just means that we would have to have our share but I think a dividend can only be paid if the club is in profit which is down to your last point, very difficult for us given current circumstance to make a profit | | | |
| Voting forms have arrived then on 16:13 - Jul 16 with 1492 views | vetchonian |
| Voting forms have arrived then on 19:32 - Jul 15 by plasjack |
Voted today, I wont say what I voted for, but it wasn't for the Status Quo. |
shame I quite like the Quo though i guess its not the smae without Rick | |
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| Voting forms have arrived then on 17:10 - Jul 16 with 1454 views | Uxbridge |
| Voting forms have arrived then on 15:33 - Jul 16 by Phil_S |
Difficult one and probably one that Lisa maybe able to answer better. But if we took legal action, we would remain a shareholder until such point that we won the case at which point the likely remedy would be the full sale of the Trust shareholding
At that point the dividends could be issued. Us having a shareholding now does not prevent that, just means that we would have to have our share but I think a dividend can only be paid if the club is in profit which is down to your last point, very difficult for us given current circumstance to make a profit |
Divis are pro rata, whilst we have shares we'd be entitled.
As you say they can only be paid out of profits, but that could include past and current years profit rather than current fiscal year.
So, long and short, until such time as the Trust sells its shareholding, in whatever way, we'd be entitled to our share. However worth noting there's not been a dividend paid in the last 4 years. I doubt that'll change anytime soon, so it's not a likely source of revenue for the Trust, although is a potential future stream if retained its stake. | |
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| Voting forms have arrived then on 17:38 - Jul 16 with 1426 views | londonlisa2001 |
| Voting forms have arrived then on 15:33 - Jul 16 by Phil_S |
Difficult one and probably one that Lisa maybe able to answer better. But if we took legal action, we would remain a shareholder until such point that we won the case at which point the likely remedy would be the full sale of the Trust shareholding
At that point the dividends could be issued. Us having a shareholding now does not prevent that, just means that we would have to have our share but I think a dividend can only be paid if the club is in profit which is down to your last point, very difficult for us given current circumstance to make a profit |
As Phil says, while we have shares we are entitled to dividends, if any, on those shares.
Dividends can be paid from retained profit (cumulative profit built up over time). At the end of July 2018 (the last publicly available accounts) that retained profit was c. £16.7m. So dividends can be paid as long as they don’t exceed this figure. If the club makes a loss this year, that figure will reduce. Dividends paid in excess of retained profit are illegal.
Dividends are declared by the board of directors who have absolute discretion over when and how much (providing it is not illegal). That right is contained in the articles of association of the club. So we can’t prevent it happening now (as the Trust Director could just be outvoted).
It would be hugely risky for the club to pay a dividend unless it begins to see profits again, as year on year, the accumulated profit is likely to decrease. Also, dividends will be paid in cash and with cash flow tight, that would be difficult to justify.
To be honest, if the club get promoted and start paying dividends again, the Trust would quite possibly be diluted anyway by the majority owners simply issuing shares. | | | |
| Voting forms have arrived then on 17:52 - Jul 16 with 1402 views | Darran |
| Voting forms have arrived then on 17:38 - Jul 16 by londonlisa2001 |
As Phil says, while we have shares we are entitled to dividends, if any, on those shares.
Dividends can be paid from retained profit (cumulative profit built up over time). At the end of July 2018 (the last publicly available accounts) that retained profit was c. £16.7m. So dividends can be paid as long as they don’t exceed this figure. If the club makes a loss this year, that figure will reduce. Dividends paid in excess of retained profit are illegal.
Dividends are declared by the board of directors who have absolute discretion over when and how much (providing it is not illegal). That right is contained in the articles of association of the club. So we can’t prevent it happening now (as the Trust Director could just be outvoted).
It would be hugely risky for the club to pay a dividend unless it begins to see profits again, as year on year, the accumulated profit is likely to decrease. Also, dividends will be paid in cash and with cash flow tight, that would be difficult to justify.
To be honest, if the club get promoted and start paying dividends again, the Trust would quite possibly be diluted anyway by the majority owners simply issuing shares. |
Would they be able to dilute shares with the possibility of legal action on the horizon. | |
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| Voting forms have arrived then on 18:01 - Jul 16 with 1384 views | Wingstandwood |
Here is another question. Bearing in mind the devious tactics and blatant subterfuge of what has gone on before. What happens if (with intent to forever kick into the long grass) the Yanks/sell-outs decide to honour (with further pretence) the previously agreed deal?
Will the Trust still proceed (if voted for) the legal route to claim back the full amount? I'm just rather cynical and suspicious that the Yanks/sell-outs are still capable of yet more subterfuge to avoid paying up. | |
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| Voting forms have arrived then on 18:05 - Jul 16 with 1374 views | Algorfajack |
| Voting forms have arrived then on 18:01 - Jul 16 by Wingstandwood |
Here is another question. Bearing in mind the devious tactics and blatant subterfuge of what has gone on before. What happens if (with intent to forever kick into the long grass) the Yanks/sell-outs decide to honour (with further pretence) the previously agreed deal?
Will the Trust still proceed (if voted for) the legal route to claim back the full amount? I'm just rather cynical and suspicious that the Yanks/sell-outs are still capable of yet more subterfuge to avoid paying up. |
I think the previous agreed deal is dead in the water now & has been superceded by the current consultation |  |
| Prediction league winner 2016-2017 aka llanedeyrnjack |
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| Voting forms have arrived then on 18:07 - Jul 16 with 1372 views | Darran |
| Voting forms have arrived then on 18:05 - Jul 16 by Algorfajack |
I think the previous agreed deal is dead in the water now & has been superceded by the current consultation |
Just get them in court. | |
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| Voting forms have arrived then on 18:10 - Jul 16 with 1369 views | londonlisa2001 |
| Voting forms have arrived then on 17:52 - Jul 16 by Darran |
Would they be able to dilute shares with the possibility of legal action on the horizon. |
They could theoretically issue shares, give the Trust the right to buy, and if they can’t, dilution would occur.
However, if they issued shares at lower than the 2016 value, that could possibly be an example of unfair prejudice which could be brought into any case. If they issued shares at the 2016 value, it would be harder to see a prejudice I would imagine, as dilution of holding would have happened but not of value.
In practice, an ongoing legal case makes it harder to act in a way where everything is not squeaky clean, as it can look bad to a judge. Particularly if it’s out of the blue with no precedent and looks like a deliberate snub.
That’s just my non lawyer response however. | | | |
| Voting forms have arrived then on 18:12 - Jul 16 with 1361 views | Darran |
| Voting forms have arrived then on 18:10 - Jul 16 by londonlisa2001 |
They could theoretically issue shares, give the Trust the right to buy, and if they can’t, dilution would occur.
However, if they issued shares at lower than the 2016 value, that could possibly be an example of unfair prejudice which could be brought into any case. If they issued shares at the 2016 value, it would be harder to see a prejudice I would imagine, as dilution of holding would have happened but not of value.
In practice, an ongoing legal case makes it harder to act in a way where everything is not squeaky clean, as it can look bad to a judge. Particularly if it’s out of the blue with no precedent and looks like a deliberate snub.
That’s just my non lawyer response however. |
Thank you my friend very interesting. | |
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| Voting forms have arrived then on 18:13 - Jul 16 with 1361 views | londonlisa2001 |
| Voting forms have arrived then on 18:01 - Jul 16 by Wingstandwood |
Here is another question. Bearing in mind the devious tactics and blatant subterfuge of what has gone on before. What happens if (with intent to forever kick into the long grass) the Yanks/sell-outs decide to honour (with further pretence) the previously agreed deal?
Will the Trust still proceed (if voted for) the legal route to claim back the full amount? I'm just rather cynical and suspicious that the Yanks/sell-outs are still capable of yet more subterfuge to avoid paying up. |
If there is a sensible offer it would have to be considered on its merits.
I, personally, don’t believe the last offer was a sensible one.
Additionally, given past behaviour, considerable persuasion would be needed to ensure it wasn’t simply a delaying tactic. And legally binding agreements. | | | |
| Voting forms have arrived then on 18:21 - Jul 16 with 1350 views | Wingstandwood |
| Voting forms have arrived then on 18:13 - Jul 16 by londonlisa2001 |
If there is a sensible offer it would have to be considered on its merits.
I, personally, don’t believe the last offer was a sensible one.
Additionally, given past behaviour, considerable persuasion would be needed to ensure it wasn’t simply a delaying tactic. And legally binding agreements. |
Glad you recognise the standard of people you/SCST is dealing with! | |
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| Voting forms have arrived then on 18:29 - Jul 16 with 1343 views | londonlisa2001 |
| Voting forms have arrived then on 18:21 - Jul 16 by Wingstandwood |
Glad you recognise the standard of people you/SCST is dealing with! |
As with everything in business, hope for the best, plan for the worst. | | | |
| Voting forms have arrived then on 19:26 - Jul 16 with 1308 views | barry_island |
Expect the PR machine to kick in any day now,
how the Trust is putting the club at risk blah,
how we were just about to offer them a figure, say £7m blah blah blah
How were about to sign someone big but they wouldn't come here due to the threat of a toxic court case blah blah blah blah.
I hope no consideration is given to any offer that might appear before the vote closes. If it does I think it's RIP TRUST.
OPTION 1 PLEASE. | |
| Swansea City, THE Austerity Club. |
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| Voting forms have arrived then on 19:48 - Jul 16 with 1547 views | Darran |
| Voting forms have arrived then on 19:26 - Jul 16 by barry_island |
Expect the PR machine to kick in any day now,
how the Trust is putting the club at risk blah,
how we were just about to offer them a figure, say £7m blah blah blah
How were about to sign someone big but they wouldn't come here due to the threat of a toxic court case blah blah blah blah.
I hope no consideration is given to any offer that might appear before the vote closes. If it does I think it's RIP TRUST.
OPTION 1 PLEASE. |
I basically said that on Twitter this morning.
They’ve put no money in so far,they’ve got no intention of putting money in but you can fully expect them to say in the future that they’ve been stopped from putting money in because of legal action. [Post edited 16 Jul 2019 20:02]
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