| From The Trust 09:59 - Jan 6 with 30588 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 12:51 - Jan 6 with 2479 views | longlostjack |
What happens if they sell on to another Delaware registered company before legal action is started? |  |
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| From The Trust on 12:52 - Jan 6 with 2475 views | exiledclaseboy |
| From The Trust on 12:50 - Jan 6 by barry_island |
Would legal action be against the Americans or the former owners? |
Not sure to be honest but the likeliest outcome I believe is that the buyers would be forced to buy all of the Trust’s shares as well. But I’m a layman on that stuff, Ux has been in on the detail. |  |
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| From The Trust on 12:52 - Jan 6 with 2475 views | barry_island |
| From The Trust on 12:49 - Jan 6 by exiledclaseboy |
This is purely a personal view but I’m also disappointed that the owners of the club stopped the sale before the Trust did. |
Has a hedge fund ever tried to take the moral high ground previously? |  |
| Swansea City, THE Austerity Club. |
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| From The Trust on 12:52 - Jan 6 with 2475 views | Uxbridge |
| From The Trust on 12:12 - Jan 6 by monmouth |
Quite right I’m sure. I’d rather just have my own preference than all this democracy shite though.
Yours
Monmouth Jong-un |
Ditto. If only to watch Nookie implode  |  |
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| From The Trust on 12:52 - Jan 6 with 2475 views | londonlisa2001 |
| From The Trust on 12:18 - Jan 6 by Nookiejack |
Looking forward to the alternative voting system Uxbridge comes up with this time.
There will have to be one given there was one last time. |
You don't know what questions will be asked as yet. Neither do I by the way. | | | |
| From The Trust on 12:55 - Jan 6 with 2455 views | londonlisa2001 |
| From The Trust on 12:51 - Jan 6 by longlostjack |
What happens if they sell on to another Delaware registered company before legal action is started? |
They would find it difficult to sell with the threat of legal action hanging over their heads without giving warranties. In other words, if legal action was then successful, the new owners would claim under the warranty against the previous owners.
And so on, of course. | | | |
| From The Trust on 12:55 - Jan 6 with 2453 views | Whiterockin |
As I see it.
The new owners have put the sale on hold blaming the trust and fans. Could it be they don't want to buy shares that will probably be worth 50% less next season.
This move could well force the trust to take legal action. If the trust win the new owners blame the old owners for not completing the sale legally and sue the old board for their money back. The sellouts are forced to buy back the shares from the new owners at the original price that will then be worth 50% less.
Karma. [Post edited 6 Jan 2018 12:58]
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| From The Trust on 12:56 - Jan 6 with 2451 views | wobbly |
The Americans have reneged on the deal. They can dress it up as much as they like, but they made an offer, it was accepted, but before the agreements were signed they decided to walk away from it. Probably because the club is going to be relegated. The rest is just flannel.
So, what are we voting for? The deal is dead because the yanks reneged. So it’s vote for litigation or vote for status quo.
The yanks and the selling shareholders deserve each other - sneaky bast*rds the lot of them. Now let’s f*ck ‘em. |  | | |
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| From The Trust on 12:58 - Jan 6 with 2426 views | londonlisa2001 |
The most important action that can be taken at present, is JOIN THE TRUST TO GET A VOTE
If anyone has opinions about this, or knows people that have opinions about this, tell them as well to JOIN THE TRUST TO GET A VOTE.
Seriously. Do it. It's a tenner. | | | |
| From The Trust on 12:59 - Jan 6 with 2408 views | exiledclaseboy |
| From The Trust on 12:58 - Jan 6 by londonlisa2001 |
The most important action that can be taken at present, is JOIN THE TRUST TO GET A VOTE
If anyone has opinions about this, or knows people that have opinions about this, tell them as well to JOIN THE TRUST TO GET A VOTE.
Seriously. Do it. It's a tenner. |
I strongly second this motion. If you want to have a say, whatever that say is, join the Trust and do it quickly. | |
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| From The Trust on 13:00 - Jan 6 with 2405 views | Joe_bradshaw |
| From The Trust on 12:39 - Jan 6 by E20Jack |
Great news.
Less great news is that I now have to join this shambkes of an organisation.
Does anyone know if I can withdraw my membership after the vote? |
You could ask for a fiver back after six months. I doubt you’ll get it though. |  |
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| From The Trust on 13:04 - Jan 6 with 2380 views | londonlisa2001 |
| From The Trust on 12:59 - Jan 6 by exiledclaseboy |
I strongly second this motion. If you want to have a say, whatever that say is, join the Trust and do it quickly. |
And what a message that would send to the owners by the way.
Imagine the Trust going from 1100 members to 5000 members.
We need to show that we care, and aren't going to sit back and watch events unfold. | | | |
| From The Trust on 13:10 - Jan 6 with 2343 views | barry_island |
Just rejoined. As it was a secret ballot last time I won't say how I voted, but as a clue it rhymes with "seagull traction". [Post edited 6 Jan 2018 13:11]
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| Swansea City, THE Austerity Club. |
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| From The Trust on 13:13 - Jan 6 with 2331 views | thornabyswan |
| From The Trust on 12:59 - Jan 6 by exiledclaseboy |
I strongly second this motion. If you want to have a say, whatever that say is, join the Trust and do it quickly. |
Indeed just joined any idea if the Trust membership has gone up significantly with the recent dealings and the likelihood good of another vote.
Does seem odd why the owners have put the deal on hold and not the Trust.
Would have the owners would want to avoid legal action. | |
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| From The Trust on 13:14 - Jan 6 with 2323 views | barry_island |
| From The Trust on 13:04 - Jan 6 by londonlisa2001 |
And what a message that would send to the owners by the way.
Imagine the Trust going from 1100 members to 5000 members.
We need to show that we care, and aren't going to sit back and watch events unfold. |
I'd be highly suspicious if membership increased by that amount. | |
| Swansea City, THE Austerity Club. |
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| From The Trust on 13:14 - Jan 6 with 2315 views | E_Norma_Stitz |
FAO Lisa,
Could you answer Whiterockin’s post ? I would be very interested in your views on this possible scenario. | |
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| From The Trust on 13:15 - Jan 6 with 2313 views | Jinxy |
| 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? |
I was thinking about this the other day. Had the vote gone in favour of litigation, then the Trust/fans may well have been blamed for on-field performances by any combination of owners, ex shareholders and media. Every cloud I suppose. I will again vote for litigation - I think it's important that the next vote is campaigned in an unbiased and very clear way, and also in a manner that will encourage more members to take part in the vote, as opposed to the previous awful turnout. |  | | |
| From The Trust on 13:20 - Jan 6 with 2275 views | E20Jack |
| From The Trust on 13:00 - Jan 6 by Joe_bradshaw |
You could ask for a fiver back after six months. I doubt you’ll get it though. |
They can keep my money, I just want my statistic taken off their register.
I imagine they look at their membership increase/decrease numbers as a representation of the work they are doing and take it as feedback. |  |
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| From The Trust on 13:21 - Jan 6 with 2266 views | Neath_Jack |
| From The Trust on 13:20 - Jan 6 by E20Jack |
They can keep my money, I just want my statistic taken off their register.
I imagine they look at their membership increase/decrease numbers as a representation of the work they are doing and take it as feedback. |
Stop being so silly. |  |
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| From The Trust on 13:29 - Jan 6 with 2238 views | Joe_bradshaw |
| 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? |
THey do and they will continue to.
The Trust, on the other hand, can show that they didn’t rock the boat by pushing the issue during last season’s relegation fight and balloted members in the summer to avoid this. They could even use their decision to recommend the deal as an indicator that they’ve tried their best to cooperate with those running the club. | |
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| From The Trust on 13:33 - Jan 6 with 2223 views | dobjack2 |
| 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? |
But what they don’t emphasise is that they are responsible for both our off field problems and our on field problems | | | |
| From The Trust on 13:39 - Jan 6 with 2195 views | longlostjack |
| From The Trust on 12:55 - Jan 6 by londonlisa2001 |
They would find it difficult to sell with the threat of legal action hanging over their heads without giving warranties. In other words, if legal action was then successful, the new owners would claim under the warranty against the previous owners.
And so on, of course. |
Thanks Lisa. | |
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| From The Trust on 13:40 - Jan 6 with 2187 views | scruffyjack |
| From The Trust on 13:15 - Jan 6 by Jinxy |
I was thinking about this the other day. Had the vote gone in favour of litigation, then the Trust/fans may well have been blamed for on-field performances by any combination of owners, ex shareholders and media. Every cloud I suppose. I will again vote for litigation - I think it's important that the next vote is campaigned in an unbiased and very clear way, and also in a manner that will encourage more members to take part in the vote, as opposed to the previous awful turnout. |
The owners/ex shareholders are blaming the trust/fans for our current predicament anyway. They would never admit that they are responsible for this complete and utter shambles. | | | |
| From The Trust on 13:42 - Jan 6 with 2178 views | exiledclaseboy |
| From The Trust on 13:20 - Jan 6 by E20Jack |
They can keep my money, I just want my statistic taken off their register.
I imagine they look at their membership increase/decrease numbers as a representation of the work they are doing and take it as feedback. |
Tell you what, PM me your name and I’ll personally make it clear to the trust board that your membership should in no way be construed as an endorsement of the board or the trust in general. | |
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| From The Trust on 13:43 - Jan 6 with 2167 views | MoscowJack |
Is it possible that they've just thought "fcuk it, if they want a fight, we'll give them one" and will drain the Trust's £800k in legal fees over the next few years?
In almost every experience I've had with Americans, they love threatening court and know that they'll win 9/10 if they have significant more money than the people they're fighting. It might be different in UK, but I wouldn't be surprised if they could drain every penny from the Trust's account before a decision is even made.
One thing the Yanks are good at is winning legal battles. | |
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