| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? 18:19 - Feb 3 with 42724 views | _ |
This is truly shameful as this has been brought up literally hundreds of times since it was first disclosed you couldn't see them.
You've made mugs out of a lot of people and were happy to allow this myth to build and build and be used as another tool for fans not to trust the owners.
The real question is can we trust the Trust
I'm sorry but this is another clear example of why we can't.
It's a sham. |  |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:34 - Feb 5 with 1982 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:22 - Feb 5 by monmouth |
All board directors are bound by a duty of confidentiality. There is no way the private financial situation of any company can be divulged whether the Director resigns or not, The fans and the shareholders have no rights to confidential company information. He can never make board discussions and company strategy public, NDA or not. If anybody legal wants to tell me otherwise, ok, but it would go against everything I've ever been told.
Unless of course he's whistleblowing and has a defence in law under public interest or illegal etc criteria. No NDA can stop that. But if you think he or the Trust can make company confidential information public you are mistaken. That's why it's better only he sees it to enable himto inform Trust strategy, without disclosing details, he can interpret those details for the Trust. And yes, resign if he thinks it's really that bad for supporters; that sends a clear enough message. The more people that see the info the more chance there is of accusations or even a set up accusation of leaking.
People better get used to the fact, we have no right to know this stuff, The Trust Supporter Director does. The fact he has no power to do other than object, input, persuade or resign is simply down to the structure deliberately agreed by the sellouts to totally stitch up their 'friends' on the trust. |
If he’s helping to provide a strategy to help the Trust isn’t that divulging information
I’m totally against what the Yanks are doing to Swansea City and it’s the reason I’m taking the action I have taken. But in this case I wouldn’t allow The Trust Director to know every detail about any financial implications
The Trust has no more right than anyone that has a much smaller shareholding to know these finer financial details
Think of it this way
Aren’t the Trust thinking about a legal challenge against the sale to the Yanks and you think it’s right for the Yanks to divulge all the financial details |  | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:38 - Feb 5 with 1975 views | Shaky |
Moscowjack: The shares of the club are not currently saleable to a third party due to the litigation risk of having to cough up +£ 20 million to the Trust. |  |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:41 - Feb 5 with 1967 views | MoscowJack |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:38 - Feb 5 by Shaky |
Moscowjack: The shares of the club are not currently saleable to a third party due to the litigation risk of having to cough up +£ 20 million to the Trust. |
Very true. Whether this would force the Yanks into doing a deal with the Trust or backing them into a corner is anyone's guess.
Either way, we can't demand for the removal of Jenkins and Yanks without a plan for (a) how and (b) who would replace them. It would be insane. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:47 - Feb 5 with 1949 views | monmouth |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:34 - Feb 5 by valleyboy |
If he’s helping to provide a strategy to help the Trust isn’t that divulging information
I’m totally against what the Yanks are doing to Swansea City and it’s the reason I’m taking the action I have taken. But in this case I wouldn’t allow The Trust Director to know every detail about any financial implications
The Trust has no more right than anyone that has a much smaller shareholding to know these finer financial details
Think of it this way
Aren’t the Trust thinking about a legal challenge against the sale to the Yanks and you think it’s right for the Yanks to divulge all the financial details |
It's a fine line about what you actually know and the reasonable implications of what you know, so I can't answer that. It would be an issue, yes. Could only be tested in law in hindsight.
Oh I agree about the shareholder knowledge. He has a right to it as a director and a right to take professional advice. Beyond that there are no rights to the Trust than available to every other shareholder (Annual financial accounts, AGM, votes for their shares etc.)
No to your last point. the Trust are suing about the sale and being discriminated against in that transaction. All data is pertenent to 2016 or before. they are not suing on the running of the club and future strategic direction. |  |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:48 - Feb 5 with 1940 views | Shaky |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:41 - Feb 5 by MoscowJack |
Very true. Whether this would force the Yanks into doing a deal with the Trust or backing them into a corner is anyone's guess.
Either way, we can't demand for the removal of Jenkins and Yanks without a plan for (a) how and (b) who would replace them. It would be insane. |
I disagree.
He had failed on multiple fronts and in spectacular fashion, and was a luxury item on the payroll, at a time when playing and non-playing staff were being axed all over the place.
And with luck this is what was needed for everybody to move forward constructively. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 13:38 - Feb 5 with 1853 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:48 - Feb 5 by Shaky |
I disagree.
He had failed on multiple fronts and in spectacular fashion, and was a luxury item on the payroll, at a time when playing and non-playing staff were being axed all over the place.
And with luck this is what was needed for everybody to move forward constructively. |
You are not by any chance the same person (forgotten what name he used there) that used to post on another site that was working as an accountant plus in Sweden
I must say he was another that had a good knowledge of financial matters and would explain to posters in simple terms so that they could understand what he was saying | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 13:53 - Feb 5 with 1839 views | MoscowJack |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:48 - Feb 5 by Shaky |
I disagree.
He had failed on multiple fronts and in spectacular fashion, and was a luxury item on the payroll, at a time when playing and non-playing staff were being axed all over the place.
And with luck this is what was needed for everybody to move forward constructively. |
Ermm.....that's what I was saying. I had wanted Jenkins out for about 2 or 3 years after it became obvious that he was failing in his job. Some saw it a lot earlier than me (or were willing to give him less of an opportunity to turn things around) but I don't think Pearlman is the answer, unless the question is "who will the Yanks use as their next fall guy?".
What I am saying is there should have been a a plan to replace Jenkins and there should be a plan to replace the Yanks. For example, would it make sense for the Trust to start trying to find potential new owners?
One more thing - about all these player sales - do you think it's the act of a desperate group or possibly in preparation for the sale of the club? If I was a potential buyer, I wouldn't be happy seeing all these players leave, which suggests the Yanks haven't got anyone lined up to replace them........ | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:11 - Feb 5 with 1785 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 12:47 - Feb 5 by monmouth |
It's a fine line about what you actually know and the reasonable implications of what you know, so I can't answer that. It would be an issue, yes. Could only be tested in law in hindsight.
Oh I agree about the shareholder knowledge. He has a right to it as a director and a right to take professional advice. Beyond that there are no rights to the Trust than available to every other shareholder (Annual financial accounts, AGM, votes for their shares etc.)
No to your last point. the Trust are suing about the sale and being discriminated against in that transaction. All data is pertenent to 2016 or before. they are not suing on the running of the club and future strategic direction. |
Look the way I see it and honestly can’t see what was wrong legally in doing it. Was that the other shareholders wanted to sell their shares and the Trust did not. So they then decided to go it alone as a group and leave the Trust out of the deal
Yes you could argue the way the other shareholders went about it was unethical, but did they do anything that was discrimitory
As for selling their voting shares, anyone that had shares could do the same
Maybe I’m simple minded, but I can’t see the Trust getting anywhere legally with going to court myself | | | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:17 - Feb 5 with 1759 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 13:53 - Feb 5 by MoscowJack |
Ermm.....that's what I was saying. I had wanted Jenkins out for about 2 or 3 years after it became obvious that he was failing in his job. Some saw it a lot earlier than me (or were willing to give him less of an opportunity to turn things around) but I don't think Pearlman is the answer, unless the question is "who will the Yanks use as their next fall guy?".
What I am saying is there should have been a a plan to replace Jenkins and there should be a plan to replace the Yanks. For example, would it make sense for the Trust to start trying to find potential new owners?
One more thing - about all these player sales - do you think it's the act of a desperate group or possibly in preparation for the sale of the club? If I was a potential buyer, I wouldn't be happy seeing all these players leave, which suggests the Yanks haven't got anyone lined up to replace them........ |
Just been reading some of your emails to me
It was only about two years ago you were emailing me and telling me that Jenkins was an excellent chairman and doing a good job
Has some dementia set in or what | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:18 - Feb 5 with 1764 views | jasper_T |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:11 - Feb 5 by valleyboy |
Look the way I see it and honestly can’t see what was wrong legally in doing it. Was that the other shareholders wanted to sell their shares and the Trust did not. So they then decided to go it alone as a group and leave the Trust out of the deal
Yes you could argue the way the other shareholders went about it was unethical, but did they do anything that was discrimitory
As for selling their voting shares, anyone that had shares could do the same
Maybe I’m simple minded, but I can’t see the Trust getting anywhere legally with going to court myself |
This isn't the situation that has led to legal action. The Trust was in fact open to the idea of selling their shares, but were never given a chance to pursue that by the time they became aware of the finalised sale afaik. | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:20 - Feb 5 with 1752 views | Uxbridge |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:11 - Feb 5 by valleyboy |
Look the way I see it and honestly can’t see what was wrong legally in doing it. Was that the other shareholders wanted to sell their shares and the Trust did not. So they then decided to go it alone as a group and leave the Trust out of the deal
Yes you could argue the way the other shareholders went about it was unethical, but did they do anything that was discrimitory
As for selling their voting shares, anyone that had shares could do the same
Maybe I’m simple minded, but I can’t see the Trust getting anywhere legally with going to court myself |
The rather awkward fly in that ointment are the public statements and private letters in early 2016 saying that the Trust would not discount the possibility of selling and wanted to be fully involved.
On the chances of winning a legal case, nothing's guaranteed (that one's for those who complained about me saying that any legal case is always uncertain ... you're still wrong, soz) but the advice from expert counsel differs from your view. Very winnable. [Post edited 5 Feb 2019 14:25]
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:24 - Feb 5 with 1732 views | Uxbridge |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 13:53 - Feb 5 by MoscowJack |
Ermm.....that's what I was saying. I had wanted Jenkins out for about 2 or 3 years after it became obvious that he was failing in his job. Some saw it a lot earlier than me (or were willing to give him less of an opportunity to turn things around) but I don't think Pearlman is the answer, unless the question is "who will the Yanks use as their next fall guy?".
What I am saying is there should have been a a plan to replace Jenkins and there should be a plan to replace the Yanks. For example, would it make sense for the Trust to start trying to find potential new owners?
One more thing - about all these player sales - do you think it's the act of a desperate group or possibly in preparation for the sale of the club? If I was a potential buyer, I wouldn't be happy seeing all these players leave, which suggests the Yanks haven't got anyone lined up to replace them........ |
On the Jenkins front, the Trust has publicly and privately called for that planning many times over the last two years. A disorderly exit was never desirable, even if an exit was.
As for the majority shareholders, it's an interesting idea. The Trust may rather have its hands full though if mediation fails and the members point us towards legal action. That has to be the first path I would suggest. Could the Trust look to partner up with someone in parallel? Maybe. It'll be looked at I'm sure. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:33 - Feb 5 with 1691 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:20 - Feb 5 by Uxbridge |
The rather awkward fly in that ointment are the public statements and private letters in early 2016 saying that the Trust would not discount the possibility of selling and wanted to be fully involved.
On the chances of winning a legal case, nothing's guaranteed (that one's for those who complained about me saying that any legal case is always uncertain ... you're still wrong, soz) but the advice from expert counsel differs from your view. Very winnable. [Post edited 5 Feb 2019 14:25]
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So the Trust have never made a statement that they never wanted to sell their shares??? | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:47 - Feb 5 with 1655 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:20 - Feb 5 by Uxbridge |
The rather awkward fly in that ointment are the public statements and private letters in early 2016 saying that the Trust would not discount the possibility of selling and wanted to be fully involved.
On the chances of winning a legal case, nothing's guaranteed (that one's for those who complained about me saying that any legal case is always uncertain ... you're still wrong, soz) but the advice from expert counsel differs from your view. Very winnable. [Post edited 5 Feb 2019 14:25]
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Tell me in why is Stuart and Lisa telling a poster on another site, that yes they do see the monthly accounts but haven’t seen the financial statement yet although they have asked to see it
They go on and say that that they think everything iis ok but they can’t say for sure that money is not going out until they see this financial statement
It’s no wonder the Yanks don’t trust them if they just blab to any Tom, Dick or Harry is it
Up to this very thread not many posters knew that Stuart and Lisa were even seeing the monthly accounts | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:54 - Feb 5 with 1637 views | Uxbridge |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:47 - Feb 5 by valleyboy |
Tell me in why is Stuart and Lisa telling a poster on another site, that yes they do see the monthly accounts but haven’t seen the financial statement yet although they have asked to see it
They go on and say that that they think everything iis ok but they can’t say for sure that money is not going out until they see this financial statement
It’s no wonder the Yanks don’t trust them if they just blab to any Tom, Dick or Harry is it
Up to this very thread not many posters knew that Stuart and Lisa were even seeing the monthly accounts |
It was in the monthly minutes that we do see them.
And what Lisa has said is right, the management accounts don't provide the level of detail that would be required to dispel some of the myths out there.
Nobody on the Trust is going to blab confidential info. Saying we don't have the info to say yes/no on something is not blabbing confidential info though. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:55 - Feb 5 with 1630 views | Uxbridge |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:33 - Feb 5 by valleyboy |
So the Trust have never made a statement that they never wanted to sell their shares??? |
The Trust? Not to my knowledge. I'm well aware a board member may have said it in the distant past though, but that's not the same thing.
They certainly weren't saying it in early 2016, which is the relevant point though. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 15:01 - Feb 5 with 1612 views | longlostjack |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:55 - Feb 5 by Uxbridge |
The Trust? Not to my knowledge. I'm well aware a board member may have said it in the distant past though, but that's not the same thing.
They certainly weren't saying it in early 2016, which is the relevant point though. |
I do admire your patience answering all these questions from concerned fellow Jacks. |  |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 15:03 - Feb 5 with 1605 views | Swanseaman |
If it did go to court, would the main case be that the trust wanted to look into the possibility of selling some shares, but were never given the chance.
Or would the main case be about way that the shares were sold, keeping the trust out of any negotiations. Deeming the original Shareholders Agreement (that was in force since 2002) as invalid. Failure to comply with notice provisions when passing the new Articles of Association. Making up a meeting with the trust that never existed. Doing everything possible to disable any ability for the trust to be able to protect the interests of Swansea City Football Club. Jenkins handing over his 5% voting rights to make sure the trust had absolutely nothing to do with the club. Plus the way shares were sold, massively reducing the value of the trusts shares overnight. |  |
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| (No subject) (n/t) on 15:05 - Feb 5 with 1600 views | cymrojack |
[Post edited 10 Jun 2021 12:19]
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| Gwynedd & Swansea - Veteran of Morriston Boys Club |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 15:10 - Feb 5 with 1564 views | valleyboy |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:54 - Feb 5 by Uxbridge |
It was in the monthly minutes that we do see them.
And what Lisa has said is right, the management accounts don't provide the level of detail that would be required to dispel some of the myths out there.
Nobody on the Trust is going to blab confidential info. Saying we don't have the info to say yes/no on something is not blabbing confidential info though. |
They shouldn’t be saying absolutely nothing to anyone other that to the Trust inner circle
So which one of these legal advisers has given you the basis that it’s winnable then???
The first, second or even more down the line
If it’s that winnable then ask them for “no win no fee” and then see what response you get
Like in any other profession there’s very good and useless people in all of the professions
Let’s hope the Trust has got a good one all I can say
If I remember correctly, Dai Littke was not confident in the first bit of legal advice the Trust had, so what has changed
A different route or a different barrister | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 16:20 - Feb 5 with 1474 views | Uxbridge |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 15:10 - Feb 5 by valleyboy |
They shouldn’t be saying absolutely nothing to anyone other that to the Trust inner circle
So which one of these legal advisers has given you the basis that it’s winnable then???
The first, second or even more down the line
If it’s that winnable then ask them for “no win no fee” and then see what response you get
Like in any other profession there’s very good and useless people in all of the professions
Let’s hope the Trust has got a good one all I can say
If I remember correctly, Dai Littke was not confident in the first bit of legal advice the Trust had, so what has changed
A different route or a different barrister |
The Trust can't say nothing. Can say plenty without giving potential confidential detail away.
Not going to comment on the rest for obvious reasons. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 16:20 - Feb 5 with 1472 views | londonlisa2001 |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 14:47 - Feb 5 by valleyboy |
Tell me in why is Stuart and Lisa telling a poster on another site, that yes they do see the monthly accounts but haven’t seen the financial statement yet although they have asked to see it
They go on and say that that they think everything iis ok but they can’t say for sure that money is not going out until they see this financial statement
It’s no wonder the Yanks don’t trust them if they just blab to any Tom, Dick or Harry is it
Up to this very thread not many posters knew that Stuart and Lisa were even seeing the monthly accounts |
Point of order. I don’t post on any other site.
I barely post on here any more.
If people contact the Trust directly and ask questions of fact, they are answered.
This thread discusses two separate matters and conflates them. The Trust asked a long series of financial questions in the summer to which it didn’t receive the answers. The answers have still not been received. Also in the summer, at around the same time, the monthly management accounts stopped being received. For about two months or so (memory fails me, it may have been 2 months, it may have been almost three), no financial info was seen at all. This was over the period of the summer transfer window. Info was seen for June and then nothing until the management accounts for July were received in, around October ish (I’m not certain when).
The management accounts don’t provide enough detail to answer the sorts of questions raised on here. They don’t provide enough detail to be able to do any sort of detailed analysis. Sorry, but they don’t.
So as I’ve said on here on a number of occasions, I’m happy to confirm that I’ve seen no evidence of any money leaving the club that shouldn’t be. I’m also able to confirm that I see nowhere near enough detail to be able to spot it if it was. | | | |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 16:39 - Feb 5 with 1393 views | thornabyswan |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 16:20 - Feb 5 by londonlisa2001 |
Point of order. I don’t post on any other site.
I barely post on here any more.
If people contact the Trust directly and ask questions of fact, they are answered.
This thread discusses two separate matters and conflates them. The Trust asked a long series of financial questions in the summer to which it didn’t receive the answers. The answers have still not been received. Also in the summer, at around the same time, the monthly management accounts stopped being received. For about two months or so (memory fails me, it may have been 2 months, it may have been almost three), no financial info was seen at all. This was over the period of the summer transfer window. Info was seen for June and then nothing until the management accounts for July were received in, around October ish (I’m not certain when).
The management accounts don’t provide enough detail to answer the sorts of questions raised on here. They don’t provide enough detail to be able to do any sort of detailed analysis. Sorry, but they don’t.
So as I’ve said on here on a number of occasions, I’m happy to confirm that I’ve seen no evidence of any money leaving the club that shouldn’t be. I’m also able to confirm that I see nowhere near enough detail to be able to spot it if it was. |
What about the accounts that get published at Companies House.
Do they provide anymore detail than the monthly accounts that you were seeing. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 18:07 - Feb 5 with 1290 views | Shaky |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 13:38 - Feb 5 by valleyboy |
You are not by any chance the same person (forgotten what name he used there) that used to post on another site that was working as an accountant plus in Sweden
I must say he was another that had a good knowledge of financial matters and would explain to posters in simple terms so that they could understand what he was saying |
No you must have me confused with somebody else, although I did post on jackarmy for a couple of years under this name. | |
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| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 18:12 - Feb 5 with 1276 views | Shaky |
| FAO Ux and the Trust. Why have you not told everyone it sees the Accounts?? on 13:53 - Feb 5 by MoscowJack |
Ermm.....that's what I was saying. I had wanted Jenkins out for about 2 or 3 years after it became obvious that he was failing in his job. Some saw it a lot earlier than me (or were willing to give him less of an opportunity to turn things around) but I don't think Pearlman is the answer, unless the question is "who will the Yanks use as their next fall guy?".
What I am saying is there should have been a a plan to replace Jenkins and there should be a plan to replace the Yanks. For example, would it make sense for the Trust to start trying to find potential new owners?
One more thing - about all these player sales - do you think it's the act of a desperate group or possibly in preparation for the sale of the club? If I was a potential buyer, I wouldn't be happy seeing all these players leave, which suggests the Yanks haven't got anyone lined up to replace them........ |
Act of a desperate group.
But as i have said I believe more is probably needed than can be raised from player sales
Exactly how much is a matter of some speculation, although I will have a better baseline when the accounts are published in a few weeks. | |
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