| EGM + statement on 19:52 - Feb 23 with 2090 views | NigelWatson |
| EGM + statement on 14:55 - Feb 23 by DaleiLama |
Did your instincts tell you anything when shares went on sale? |
You can look back at what I wrote, when I wrote it on:
- Why John Coleman was a terrible manager for RAFC
- Why it was beyond dumb to sack Hill when we did
- The moronic, & quite frankly, baffling decision to appoint Jim Bentley
- Questioning Gauge and his motivations
I took abuse and untold flak from Mc Stalin and others on this forum, but, as ever, time has been revealing. |  | |  |
| EGM + statement on 09:34 - Feb 24 with 1617 views | Duckegg |
On Friday I recieved the Trust email about which direction do I want them to vote at the EGM.
I feel that as a non share holder but a member of the Trust is just as important but Im sat in the middle of which way do I vote.
As a Dale supporter who attended his first Spotland home game 51years ago leaning on one of the barriers on the corner of the Sandy Lane mound with a couple of school mates and a parent who would have thought that one day as an adult myself I would be facing this dilema, certainly not back then as an 11yr old..
With what as gone on since the EGM to remove a certain two people and here we are heading to a important date March 2024.
One thing though and i do not understand why more supporters are not trust members we have to put our faith in the Trust to guide us with bits of information that they are allowed to pass on.
If the board want the shareholders to vote in favour then surely common sense prevails and more information is forth coming to help people to make up their minds..
I guess i will sit and wait until the 7pm 5th March before voting....... |  | | |
| EGM + statement on 10:19 - Feb 24 with 1533 views | NorthernDale |
I will vote in favour of the motion and this is with serous doubts about Gauge motives, in that he is seeking to force the fans to give into his demands with the alternative being no club. Yes, we are taking a gamble on an investor coming into the club and being a doggy character, but to some extent I have been assured by the trust, but after Gauge leadership, I am close to saying I don't care anymore, such as is leadership, turning a well run club into a shambles. | | | |
| EGM + statement on 10:46 - Feb 24 with 1483 views | Rehsad |
Hi - Long time lurker here but first post. I don't normally engage in social media but this is such an important time and I'm changing my habits. I've been a supporter since my first match in 1968, I'm a Shareholder and a member of the Trust. The last thing that I want to see is the Club go under at the end of March. However, I'm finding it increasingly difficult to vote for the EGM amendments. We have absolutely no information about the current status (by this I mean figures that we can analyse - not a Statement from the Chairman), we have no information regarding monthly (or even weekly) costs and income. We have nothing to see regarding how the end March forecast has been developed. On top of this we have seen over the last six weeks an encouragement to put more money in, in several ways. These encouragements could never go anywhere near meeting the £2M from an investor and I question whether they should ever had been made. I seriously question my own trust in the Chairman and therefore my trust in his statements. My biggest concern is that we vote for the amendments, which in company law terms are massive, and then find that no investor comes along. I also feel that £2M for 90% ownership is very cheap. One promotion will see the share price quadruple at a minimum, the 'owner' exits and then what? Just how real is the threat of Litigation? Probably quite high as it could be driven by the directors. How much of the 550K loan is still in the club's coffers? What are the repayment terms on the £550K and how much interest/repayment has already taken place? I favour the 'half way house' model where The Trust takes on the ground and the Football Side is sold on. I don't think that we've been given time to explore this one though. If the club is taken over, goes through at least one promotion and the value multiplies as above, the ground still remains the same value as today - it is the brand that has gone up in value. This brand is what the investor should be caring about, not the 'Asset' of the ground. [Post edited 24 Feb 10:57]
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| EGM + statement on 11:40 - Feb 24 with 1390 views | 49thseason |
| EGM + statement on 10:46 - Feb 24 by Rehsad |
Hi - Long time lurker here but first post. I don't normally engage in social media but this is such an important time and I'm changing my habits. I've been a supporter since my first match in 1968, I'm a Shareholder and a member of the Trust. The last thing that I want to see is the Club go under at the end of March. However, I'm finding it increasingly difficult to vote for the EGM amendments. We have absolutely no information about the current status (by this I mean figures that we can analyse - not a Statement from the Chairman), we have no information regarding monthly (or even weekly) costs and income. We have nothing to see regarding how the end March forecast has been developed. On top of this we have seen over the last six weeks an encouragement to put more money in, in several ways. These encouragements could never go anywhere near meeting the £2M from an investor and I question whether they should ever had been made. I seriously question my own trust in the Chairman and therefore my trust in his statements. My biggest concern is that we vote for the amendments, which in company law terms are massive, and then find that no investor comes along. I also feel that £2M for 90% ownership is very cheap. One promotion will see the share price quadruple at a minimum, the 'owner' exits and then what? Just how real is the threat of Litigation? Probably quite high as it could be driven by the directors. How much of the 550K loan is still in the club's coffers? What are the repayment terms on the £550K and how much interest/repayment has already taken place? I favour the 'half way house' model where The Trust takes on the ground and the Football Side is sold on. I don't think that we've been given time to explore this one though. If the club is taken over, goes through at least one promotion and the value multiplies as above, the ground still remains the same value as today - it is the brand that has gone up in value. This brand is what the investor should be caring about, not the 'Asset' of the ground. [Post edited 24 Feb 10:57]
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The EGM will explain most of the questions, and you have that opportunity to ask more questions arising from the answers... probably a good idea to take sandwiches! Bear in mind, we may not find out who the investor is, we are simply setting up the company to make a takeover easier. The company is creating 9 million "A" shares as a vehicle to make the takeover easier, in the event something different occurs, the company could decide to cancel the unissued "A" shares at some point in the future.
Simon has said he is prepared to convert his half million pound loan into equity so that his loans will not be paid out of the £2m , all that money will come into the club, for wages, repairs, maybe even some new players.....
But... the investor /s are not guaranteed until their cash is in the bank and he/ they are signed up as Directors.
Whilst many may think £2m is cheap, the problem is not what we thinkmthe club is worth, it is what someone is prepared to pay for it and it maybe other monies will be needed going forwards... another question to be asked.
Don't forget, the club was losing £30k a week, sooner or later our luck was bound to run out despite cup runs and player sales. Thankfully this Board have managed to stem the outflows and make the Club reasonably investable but we are still desperately short of cash to keep the lights on so I repeat a question I have asked before.. " if not this, then what"? The money is gone in March, at that point, the doors are slammed shut, everyone loses their jobs and our season is expunged from the records....and the liquidators take over.. talk of some sort of Trust involvement is simply magic thinking, I doubt if they have £20k much less £2m. I am afraid we either grab the rope or drown, its as simple as that. |  | | |
| EGM + statement on 11:59 - Feb 24 with 1355 views | RAFCBLUE |
| EGM + statement on 11:40 - Feb 24 by 49thseason |
The EGM will explain most of the questions, and you have that opportunity to ask more questions arising from the answers... probably a good idea to take sandwiches! Bear in mind, we may not find out who the investor is, we are simply setting up the company to make a takeover easier. The company is creating 9 million "A" shares as a vehicle to make the takeover easier, in the event something different occurs, the company could decide to cancel the unissued "A" shares at some point in the future.
Simon has said he is prepared to convert his half million pound loan into equity so that his loans will not be paid out of the £2m , all that money will come into the club, for wages, repairs, maybe even some new players.....
But... the investor /s are not guaranteed until their cash is in the bank and he/ they are signed up as Directors.
Whilst many may think £2m is cheap, the problem is not what we thinkmthe club is worth, it is what someone is prepared to pay for it and it maybe other monies will be needed going forwards... another question to be asked.
Don't forget, the club was losing £30k a week, sooner or later our luck was bound to run out despite cup runs and player sales. Thankfully this Board have managed to stem the outflows and make the Club reasonably investable but we are still desperately short of cash to keep the lights on so I repeat a question I have asked before.. " if not this, then what"? The money is gone in March, at that point, the doors are slammed shut, everyone loses their jobs and our season is expunged from the records....and the liquidators take over.. talk of some sort of Trust involvement is simply magic thinking, I doubt if they have £20k much less £2m. I am afraid we either grab the rope or drown, its as simple as that. |
An excellent summary.
For all the debate it simply comes down to choosing whether we want to continue or not.
There's no white knight Dale fan going to commit millions as a punt for the love of it. We'd know about it if there was.
There's no one else going to commit millions without certainty or control.
The money here goes to the club and not to individuals as was the case in 2021. Those Directors who ended up saving the club are gifting those shares and control to ensure we survive. |  |
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| EGM + statement on 12:15 - Feb 24 with 1311 views | 442Dale |
One thing to consider is that any new owners, once they have the control desired, may already have a plan to overhaul the club completely and install staff/board they believe have the skills and experience to take it forward after recent failings. They may be willing to talk to the Trust/supporters about how this would be best achieved - and it’s possible this could be something else that can be looked into, starting at tomorrow’s fans meeting.
There are indeed two sides to every coin.
First we have to establish more concrete information about the current situation. Time is against us, but that’s not something we can control now. |  |
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| EGM + statement on 12:51 - Feb 24 with 1252 views | D_Alien |
| EGM + statement on 12:15 - Feb 24 by 442Dale |
One thing to consider is that any new owners, once they have the control desired, may already have a plan to overhaul the club completely and install staff/board they believe have the skills and experience to take it forward after recent failings. They may be willing to talk to the Trust/supporters about how this would be best achieved - and it’s possible this could be something else that can be looked into, starting at tomorrow’s fans meeting.
There are indeed two sides to every coin.
First we have to establish more concrete information about the current situation. Time is against us, but that’s not something we can control now. |
The meeting tomorrow - in addition to discussions around how the Trust vote should go - should indeed include the start of making contingency plans
For instance: if the EGM proposals are passed and investors pull out anyway... what alternatives are available, in the light of that new construct? The refusal of some to even countenance alternatives means there'd be no preparation in such an eventuality |  |
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