| From The Trust 09:59 - Jan 6 with 30999 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 10:00 - Jan 6 with 8187 views | Neath_Jack |
New vote now then surely? |  |
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| From The Trust on 10:01 - Jan 6 with 8173 views | 34dfgdf54 |
Sounds like it will definitely be another vote though.
Happy days. |  | | |
| From The Trust on 10:01 - Jan 6 with 8171 views | Phil_S |
| From The Trust on 10:00 - Jan 6 by Neath_Jack |
New vote now then surely? |
Thats certainly how the paragraph reads - I assume a new consultation means a new vote
And I suspect a very different result | | | |
| From The Trust on 10:02 - Jan 6 with 8166 views | 3swan |
Delay until the end of the season? 
That has to again show that working relationships cannot be classed as 'good' |  | | |
| From The Trust on 10:02 - Jan 6 with 8148 views | Neath_Jack |
So the Yanks are going to force the Trusts hand.
Hopefully this ends up in court now. | |
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| From The Trust on 10:05 - Jan 6 with 8105 views | Uxbridge |
Probably want to merge the threads!!
There'll be another vote. Has to be. |  |
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| From The Trust on 10:05 - Jan 6 with 8105 views | 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 | | | |
| From The Trust on 10:05 - Jan 6 with 8102 views | londonlisa2001 |
| From The Trust on 10:01 - Jan 6 by Phil_S |
Thats certainly how the paragraph reads - I assume a new consultation means a new vote
And I suspect a very different result |
There will be a new vote. | | | |
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| From The Trust on 10:07 - Jan 6 with 8074 views | Phil_S |
| From The Trust on 10:05 - Jan 6 by Uxbridge |
Probably want to merge the threads!!
There'll be another vote. Has to be. |
Yeah, welcome to 1992, if only that was possible  | | | |
| From The Trust on 10:11 - Jan 6 with 8024 views | 3swan |
"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. "
Yet again playing the P.R. game.
What distraction. They offered a deal and by what we are told then the details are basically agreed.
It's legal teams that would be involved not 'club' reps.
Are they saying they will put their own money in to boost January transfers.
Nope imo delaying tactics and using the uninformed as 'we are doing the right thing' | | | |
| From The Trust on 10:12 - Jan 6 with 8007 views | TheResurrection |
| 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 |
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... |  |
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| From The Trust on 10:14 - Jan 6 with 7979 views | Uxbridge |
| From The Trust on 10:05 - Jan 6 by londonlisa2001 |
There will be a new vote. |
Indeed. There's no scenario where that doesn't take place. | |
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| From The Trust on 10:15 - Jan 6 with 7943 views | swancity |
Good news. But in the event of relegation can someone please explain what bearing does this have on the sale of shares and value? And the possible outcomes ? | |
| Only an idiot would eat a turkey curry on Christmas day |
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| From The Trust on 10:15 - Jan 6 with 7940 views | Uxbridge |
I'll paste this from the other thread:
Now, before anyone says the statement isn't strong enough etc, the reality is as follows :
a) there'll be a new Trust board recommendation
b) there'll be another forum to review that
c) ultimately there'll have to be another vote | |
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| From The Trust on 10:16 - Jan 6 with 7931 views | Phil_S |
OK knowing people who sit on both sides of the table for these statements I am going to draw a couple of conclusions
1. The Americans statement will have started life in a very different guise. Probably more critical of some individuals, some of them current and some of them ex board members
2. This website in particular (amongst them all) and social media is a source for them gauging feelings so they will be totally well advised (by their PR team) as to what is happening in the general fanbase.
3. The Trust board (Stuart in particular) will have advised them that their original statement will not help the situation so it will have been toned down.
4. This will have given the Trust chance to produce their own statement which is probably a little more vague then maybe they would have liked but gives the clear answers (that have been backed up already by Ux and Lisa that ultimately we are heading towards a different route)
Obviously I could be wrong but based on experience that would be my gut feel of experiencing life for 18 months in these positions | | | |
| From The Trust on 10:18 - Jan 6 with 7897 views | Phil_S |
| From The Trust on 10:15 - Jan 6 by swancity |
Good news. But in the event of relegation can someone please explain what bearing does this have on the sale of shares and value? And the possible outcomes ? |
Relegation is a slight red herring (I think although Lisa will tell you if I am wrong)
If an unfair prejudice claim was pursed, won and the outcome was a compulsory purchase of the Trust shares it would be at the terms given to the shareholders in 2016. The fact that they may (for a Championship club) be valued at a fraction of that is almost irrelevant. | | | |
| From The Trust on 10:19 - Jan 6 with 7886 views | Landore_Jack |
Maybe the American consortium does not have the money to purchase the shares? Just a thought. |  |
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| From The Trust on 10:21 - Jan 6 with 7862 views | Uxbridge |
| From The Trust on 10:18 - Jan 6 by Phil_S |
Relegation is a slight red herring (I think although Lisa will tell you if I am wrong)
If an unfair prejudice claim was pursed, won and the outcome was a compulsory purchase of the Trust shares it would be at the terms given to the shareholders in 2016. The fact that they may (for a Championship club) be valued at a fraction of that is almost irrelevant. |
That is my understanding from our legal reps | |
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| From The Trust on 10:22 - Jan 6 with 7847 views | 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." | |
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| From The Trust on 10:22 - Jan 6 with 7847 views | Phil_S |
| 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. |
From experience again I'm not sure that the funding will be a problem.
The desire to enter into a voluntary agreement with the club heading towards the Championship very much could be though | | | |
| From The Trust on 10:22 - Jan 6 with 7833 views | JACKMANANDBOY |
| 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. |
Or does not want to invest in more shares in a club that could well be relegated. |  |
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| From The Trust on 10:23 - Jan 6 with 7822 views | Phil_S |
| 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." |
It's poorly worded but I think its correct
If the deal went through on the terms discussed last summer then any legal avenues would be closed as a result. | | | |
| From The Trust on 10:24 - Jan 6 with 7810 views | londonlisa2001 |
| From The Trust on 10:18 - Jan 6 by Phil_S |
Relegation is a slight red herring (I think although Lisa will tell you if I am wrong)
If an unfair prejudice claim was pursed, won and the outcome was a compulsory purchase of the Trust shares it would be at the terms given to the shareholders in 2016. The fact that they may (for a Championship club) be valued at a fraction of that is almost irrelevant. |
If a claim was made, won and remedied by a compulsory purchase of shares, the only value of note would be that paid for the shares at the time the Trust was unfairly prejudiced. So if the club was at that stage worth a different amount (either more or less) that would be an irrelevance. | | | |
| From The Trust on 10:24 - Jan 6 with 7801 views | TheResurrection |
| From The Trust on 10:16 - Jan 6 by Phil_S |
OK knowing people who sit on both sides of the table for these statements I am going to draw a couple of conclusions
1. The Americans statement will have started life in a very different guise. Probably more critical of some individuals, some of them current and some of them ex board members
2. This website in particular (amongst them all) and social media is a source for them gauging feelings so they will be totally well advised (by their PR team) as to what is happening in the general fanbase.
3. The Trust board (Stuart in particular) will have advised them that their original statement will not help the situation so it will have been toned down.
4. This will have given the Trust chance to produce their own statement which is probably a little more vague then maybe they would have liked but gives the clear answers (that have been backed up already by Ux and Lisa that ultimately we are heading towards a different route)
Obviously I could be wrong but based on experience that would be my gut feel of experiencing life for 18 months in these positions |
You a bit pissed off their didn't mention you there Phil? | |
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| From The Trust on 10:27 - Jan 6 with 7758 views | Phil_S |
| From The Trust on 10:24 - Jan 6 by TheResurrection |
You a bit pissed off their didn't mention you there Phil? |
No Chris, should I be?
Are you a bit pissed off they didn't mention you?
This post has been edited by an administrator | | | |
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