| FAO Phil S or The Trust Board Members 22:57 - Sep 10 with 6929 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 23:08 - Sep 10 with 4601 views | londonlisa2001 |
Not sure what you mean by ‘we’ in the context, but the shares were bought back by the club and subsequently cancelled in December 2012. |  | | |
| FAO Phil S or The Trust Board Members on 23:30 - Sep 10 with 4540 views | _ |
| FAO Phil S or The Trust Board Members on 23:08 - Sep 10 by londonlisa2001 |
Not sure what you mean by ‘we’ in the context, but the shares were bought back by the club and subsequently cancelled in December 2012. |
Well by "we" I meant the Trust.
Who are you referring to when you say "the Club"? | |
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| FAO Phil S or The Trust Board Members on 23:34 - Sep 10 with 4532 views | londonlisa2001 |
| FAO Phil S or The Trust Board Members on 23:30 - Sep 10 by _ |
Well by "we" I meant the Trust.
Who are you referring to when you say "the Club"? |
The Trust didn’t buy Mel Nurse’s shares (or any of them) which is why I asked.
Swansea City 2002 Ltd. Holding company for Swansea City AFC Ltd (the club).
The shares were bought back (by the company) then cancelled. Reducing the total number of shares in the company from 1,000,000 to 950,000, thus increasing the % shareholding of all remaining, existing shareholders proportionately. | | | |
| FAO Phil S or The Trust Board Members on 23:52 - Sep 10 with 4501 views | _ |
| FAO Phil S or The Trust Board Members on 23:34 - Sep 10 by londonlisa2001 |
The Trust didn’t buy Mel Nurse’s shares (or any of them) which is why I asked.
Swansea City 2002 Ltd. Holding company for Swansea City AFC Ltd (the club).
The shares were bought back (by the company) then cancelled. Reducing the total number of shares in the company from 1,000,000 to 950,000, thus increasing the % shareholding of all remaining, existing shareholders proportionately. |
Ok, so the Club bought them. When was that, when did Mel receive his money?
Also, when was all this discussed and by who? Who made the decision and where are the Trust minutes in relation to these discussions? | |
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| FAO Phil S or The Trust Board Members on 23:56 - Sep 10 with 4494 views | Darran |
Strange how such a big fan doesn’t know all this. lol |  |
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| FAO Phil S or The Trust Board Members on 23:58 - Sep 10 with 4489 views | _ |
| FAO Phil S or The Trust Board Members on 23:56 - Sep 10 by Darran |
Strange how such a big fan doesn’t know all this. lol |
Cool, we have someone who can answer.
Ok Dar, what discussions took place, when and between who? And how come they aren't mentioned in the Trust minutes (unless I've missed them, that is, so if you know where they are, can you post me a link?)
Cheers | |
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| FAO Phil S or The Trust Board Members on 00:09 - Sep 11 with 4470 views | Darran |
| FAO Phil S or The Trust Board Members on 23:58 - Sep 10 by _ |
Cool, we have someone who can answer.
Ok Dar, what discussions took place, when and between who? And how come they aren't mentioned in the Trust minutes (unless I've missed them, that is, so if you know where they are, can you post me a link?)
Cheers |
I’m not telling you piss off. | |
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| FAO Phil S or The Trust Board Members on 00:16 - Sep 11 with 4460 views | _ |
| FAO Phil S or The Trust Board Members on 00:09 - Sep 11 by Darran |
I’m not telling you piss off. |
So you don't know "lol"
Go away boy. | |
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| FAO Phil S or The Trust Board Members on 00:21 - Sep 11 with 4456 views | Darran |
Absolutely disgusting dragging all this up when we’ve got another huge game on Saturday I just hope it doesn’t affect the players performance. | |
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| FAO Phil S or The Trust Board Members on 00:22 - Sep 11 with 4451 views | _ |
Yes, I'd read that. It states....
"I am not sure how many people are aware here but Mel Nurse, a complete Swansea legend, sold his 5% stake back to the football club in 2011 for a price agreed directly between him and the club, however it was for a fraction of the price offered by the Americans. That deal increased everyone’s shareholdings (ours for example went from 20% to 21.1%) and we pointed out that if that increase was donated to the Trust, taking our stake up to 25%, then their legacy of protecting the football club would be complete. I am disappointed to say, the response was not even to decline the offer, it was complete silence."
Said he sold his 5% shareholding in 2011 for a price agreed between him and the Club. Lisa says the shares were cancelled in December 2012, why did it take so long?
And then to go back to "The Club" - who in particular made that decision?
The paragraph above also states the Trust only asked for Mel's shares to be donated 5 years after the agreement between him and "The Club" was made?
Why wasn't this a major issue back then? Shouldn't the Trust members have been consulted or at least informed? There just seems to be so little information relating to this deal, why is that? | |
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| FAO Phil S or The Trust Board Members on 00:23 - Sep 11 with 4449 views | _ |
| FAO Phil S or The Trust Board Members on 00:21 - Sep 11 by Darran |
Absolutely disgusting dragging all this up when we’ve got another huge game on Saturday I just hope it doesn’t affect the players performance. |
Such a big fan that knows jack.... | |
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| FAO Phil S or The Trust Board Members on 01:44 - Sep 11 with 4385 views | Loyal |
| FAO Phil S or The Trust Board Members on 00:22 - Sep 11 by _ |
Yes, I'd read that. It states....
"I am not sure how many people are aware here but Mel Nurse, a complete Swansea legend, sold his 5% stake back to the football club in 2011 for a price agreed directly between him and the club, however it was for a fraction of the price offered by the Americans. That deal increased everyone’s shareholdings (ours for example went from 20% to 21.1%) and we pointed out that if that increase was donated to the Trust, taking our stake up to 25%, then their legacy of protecting the football club would be complete. I am disappointed to say, the response was not even to decline the offer, it was complete silence."
Said he sold his 5% shareholding in 2011 for a price agreed between him and the Club. Lisa says the shares were cancelled in December 2012, why did it take so long?
And then to go back to "The Club" - who in particular made that decision?
The paragraph above also states the Trust only asked for Mel's shares to be donated 5 years after the agreement between him and "The Club" was made?
Why wasn't this a major issue back then? Shouldn't the Trust members have been consulted or at least informed? There just seems to be so little information relating to this deal, why is that? |
FFS whatever you do don't mention the car park. |  |
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| FAO Phil S or The Trust Board Members on 08:14 - Sep 11 with 4062 views | _ |
| FAO Phil S or The Trust Board Members on 01:44 - Sep 11 by Loyal |
FFS whatever you do don't mention the car park. |
Car park? | |
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| FAO Phil S or The Trust Board Members on 08:26 - Sep 11 with 4039 views | TailGunner |
| FAO Phil S or The Trust Board Members on 01:44 - Sep 11 by Loyal |
FFS whatever you do don't mention the car park. |
Or the club shop.... | | | |
| FAO Phil S or The Trust Board Members on 08:47 - Sep 11 with 4010 views | _ |
| FAO Phil S or The Trust Board Members on 08:26 - Sep 11 by TailGunner |
Or the club shop.... |
What are you on about?
Lisa, can you answer the above questions for me please? Thanks | |
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| FAO Phil S or The Trust Board Members on 09:22 - Sep 11 with 3948 views | Darran |
Oh bloody hell he doesn’t even know about MN and the car park.  | |
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| FAO Phil S or The Trust Board Members on 09:46 - Sep 11 with 3891 views | costalotta |
This thread has the smell of an agenda and one where ‘an’ answer might already be known. Why not just Get it out into the open Chris, yeah? |  | | |
| FAO Phil S or The Trust Board Members on 09:54 - Sep 11 with 3871 views | majorraglan |
| FAO Phil S or The Trust Board Members on 23:52 - Sep 10 by _ |
Ok, so the Club bought them. When was that, when did Mel receive his money?
Also, when was all this discussed and by who? Who made the decision and where are the Trust minutes in relation to these discussions? |
The sale was between the Club and Mel Nurse, they are the ones to ask about when Mr Nurse received his payment.
The decision about cancelling the shares was probably one that was taken by the Club’s board, and I dare say voted on at that forum. The Trust would then be notified in due course. | | | |
| FAO Phil S or The Trust Board Members on 10:57 - Sep 11 with 3780 views | _ |
| FAO Phil S or The Trust Board Members on 09:54 - Sep 11 by majorraglan |
The sale was between the Club and Mel Nurse, they are the ones to ask about when Mr Nurse received his payment.
The decision about cancelling the shares was probably one that was taken by the Club’s board, and I dare say voted on at that forum. The Trust would then be notified in due course. |
So who made the decision on behalf of the Club then?.
I'm guessing the Trust were part of that decision?
And there's no agenda FFS why don't people just grow up a bit? This was raised last night by HarryPalmer and Vetchonian.
So I became curious and tried to find some information out relating to the process of how it happened.
Lisa kindly responded last night but now she seems to have gone absent. The promise of Phil S to communicate more seems to have been forgotten and nothing also from Godden and Cude.
Hopefully they can shine some light on what exactly happened because I couldn't find much from the Trust website.
Anyone? | |
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| FAO Phil S or The Trust Board Members on 11:06 - Sep 11 with 3759 views | SkettyJack |
| FAO Phil S or The Trust Board Members on 10:57 - Sep 11 by _ |
So who made the decision on behalf of the Club then?.
I'm guessing the Trust were part of that decision?
And there's no agenda FFS why don't people just grow up a bit? This was raised last night by HarryPalmer and Vetchonian.
So I became curious and tried to find some information out relating to the process of how it happened.
Lisa kindly responded last night but now she seems to have gone absent. The promise of Phil S to communicate more seems to have been forgotten and nothing also from Godden and Cude.
Hopefully they can shine some light on what exactly happened because I couldn't find much from the Trust website.
Anyone? |
The question is, why does it bother you so much??
Seems the trust benefited indirectly from this, of course it would have been better for the trust is Mel had donated his shares to them, but who can deny Mel Nurse a bit of income after all what he has done for this club
More to the point, the club bought the shares, and dissolved them, everyone of the shareholders benefited from this. Decision like this must have been taken at boardroom level, so as a guess Huw Cooze (was he SD then) would have been aware. As the Trust would benefit eventually, the decision was passed with no objection. | | | |
| FAO Phil S or The Trust Board Members on 11:17 - Sep 11 with 3740 views | _ |
| FAO Phil S or The Trust Board Members on 11:06 - Sep 11 by SkettyJack |
The question is, why does it bother you so much??
Seems the trust benefited indirectly from this, of course it would have been better for the trust is Mel had donated his shares to them, but who can deny Mel Nurse a bit of income after all what he has done for this club
More to the point, the club bought the shares, and dissolved them, everyone of the shareholders benefited from this. Decision like this must have been taken at boardroom level, so as a guess Huw Cooze (was he SD then) would have been aware. As the Trust would benefit eventually, the decision was passed with no objection. |
No objection?
But 4 years later we had Comms asking to rewrite history and retrospectively gift those shares to the Trust?
But what were the Trust doing just signing away a chance to benefit from another 50k shares, which, as we know would've taken our ownership past the 25% mark.
There was no members consultation, in fact the members didn't have a bloody clue it was going on.
But the Trust were very much a part of the decision to keep their percentage ownership at a level which wouldn't offer protective rights.
And, there was never any discussion about this. Not in Trust meetings and certainly not with its members.
So when Harry Palmer states they 'tired to buy Mel's shares, but the other shareholders invoked the SHAG', surely he's mistaken??
Lisa?
Phil?
Andy 1?
Andy 2? | |
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| FAO Phil S or The Trust Board Members on 11:30 - Sep 11 with 3712 views | chad |
| FAO Phil S or The Trust Board Members on 11:17 - Sep 11 by _ |
No objection?
But 4 years later we had Comms asking to rewrite history and retrospectively gift those shares to the Trust?
But what were the Trust doing just signing away a chance to benefit from another 50k shares, which, as we know would've taken our ownership past the 25% mark.
There was no members consultation, in fact the members didn't have a bloody clue it was going on.
But the Trust were very much a part of the decision to keep their percentage ownership at a level which wouldn't offer protective rights.
And, there was never any discussion about this. Not in Trust meetings and certainly not with its members.
So when Harry Palmer states they 'tired to buy Mel's shares, but the other shareholders invoked the SHAG', surely he's mistaken??
Lisa?
Phil?
Andy 1?
Andy 2? |
I imagine there was a small matter of the shareholder agreement
Such agreements are unfortunately not only valid when they work in your favour
Of course we should remember Mel only got a fraction of what the sellouts got for their shares (and his). QED the money could much more easily raised for the Trust to buy them. |  | | |
| FAO Phil S or The Trust Board Members on 11:35 - Sep 11 with 3695 views | _ |
| FAO Phil S or The Trust Board Members on 11:30 - Sep 11 by chad |
I imagine there was a small matter of the shareholder agreement
Such agreements are unfortunately not only valid when they work in your favour
Of course we should remember Mel only got a fraction of what the sellouts got for their shares (and his). QED the money could much more easily raised for the Trust to buy them. |
Exactly, so why weren't the members consulted and why wasn't there an all out onslaught on the club to demand the Trust gets a chance to raise that money?
I think the price per share is the least relevant aspect here though, apart from the fact the amount Mel got would've been an achievable amount for the Trust to have tried to raise. | |
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| FAO Phil S or The Trust Board Members on 11:50 - Sep 11 with 3648 views | Uxbridge |
This is just getting weird now Chris.
Anyhoo, as we're talking ancient history, and some considerable time before my tenure on the Trust board so I couldn't really explain beyond what is a matter of public record (neither could Lisa or anyone who wasn't on the Trust board in 2011, so calling them out is a bit bizarre):
a) the club bought Mel's shares.
b) they were not available for the Trust to buy. Or any other shareholder, for that matter. As anyone with a cursory knowledge of the club's history probably knows (and this was public knowledge long before I was involved with the Trust), this was at a time when all shareholders agreed that no party would exceed a 25% shareholding.
c) If the option was there, of course the members would have been consulted. That happens on major decisions, as we've seen.
d) At various times, from the time of Americans v1.0 to Americans 2.0, the Trust tried to increase its shareholding beyond the 25% threshold by making the case to the other shareholders. One of those attempts was to point out that if the Trust could buy the shares that were cancelled as part of Mel's cash out (I use the term in the loosest sense, it was for pennies in comparison, and well earned) then this could be achieved and their legacy would be far stronger. This, just like every attempt, was completely ignored by most and rejected by anyone who deemed it worthy of response.
e) This thread is insane.
I mean really, this is 7 years ago and all public knowledge. I'm puzzled by your agenda here, as surely you knew all this already. Anyway, I look forward to the next revelation, maybe about the Trust's decision making during the Sousa era. |  |
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