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I am not sure about this, but because of the way the ownership of the shares in Swansea City have actually been made, it might be that two "owners" could allow the American investors virtual control of the Club, without recourse to the present Board of Directors, the Trust,or the remaining shareholders. We are often told that Martin Morgan and his wife own 225,000 shares in the club and that Brian Ketzon owns 200,000 shares which together equate to 50% of the total shares issued. In fact they actually own no shares at all.The shares are owned by Oth Limited (225,000 shares) and Five Thirty Limited (161216shares) and T L R Investments Limited (38784shares) It can be assumed therefore that Oth Limited is owned by Martin Morgan and his wife, and the other two companies by Brian Ketzon and family. Without knowing of any legal restrictions,both Martin Morgan and Brian Ketzon could sell their shares in Oth Limited, Five Thirty Limited and T L R Investments Limited without any recourse to Swansea City Football Club and let in the Americans through the back door.The shares as such would not have changed hands, they are still owned by the same Companies (where incidentally they are shown as investments on the Balance Sheets of those Companies), it is just that the Americans have control of those shares. If the above is legally feasible, then the Americans could contain absolute control by buying in exactly the same way the shares allegedly owned by Dineen but which are in fact owned by Bulk Vending Limited and Van Zweden whose shares are owned by Swansea Jacks Limited. If the above scenario was possible,and I know of no reason why legally it is not, then the Trust would be powerless to stop it, and would receive nothing for their shares I would hope there are provisions in place to stop the above happening, otherwise the Trust could be doomed.
Could the trust be doomed? on 10:54 - Nov 8 by Darran
I know you're a bit thick but you do realise we would have had to pay that money out anyway and we might (I don't know) have possibly saved money on it yeah?
Sad that your only input on this great site these days is to be, well, a bit pathetic.
The Directors from the very first minute they walked through the door have been feathering their own nests very nicely. So I know you are very thick, but all this working for free crap... well, it's just that.
It's funny though, you were on here a couple of weeks ago slamming people for suggesting what's actually happening now.
Is that what this is all about? You feel a bit of a knob?
You're all out of time....the past was yours but the future's mine.
Sad that your only input on this great site these days is to be, well, a bit pathetic.
The Directors from the very first minute they walked through the door have been feathering their own nests very nicely. So I know you are very thick, but all this working for free crap... well, it's just that.
It's funny though, you were on here a couple of weeks ago slamming people for suggesting what's actually happening now.
Is that what this is all about? You feel a bit of a knob?
I've not slammed anyone but I'd be interested if you show me where? I know some people and I actually know more than you about what's going on that's why I stay out of it.
It's interesting to see you've completely ignored what I said though but that's you all over,nobody's said they haven't made money out it.
The first ever recipient of a Planet Swans Lifetime Achievement Award.
Oh and could I just add that anyone that thinks that the individuals named above actually make the amount of money in the accounts really is f*cking thick.
The first ever recipient of a Planet Swans Lifetime Achievement Award.
Could the trust be doomed? on 11:10 - Nov 8 by Darran
Oh and could I just add that anyone that thinks that the individuals named above actually make the amount of money in the accounts really is f*cking thick.
You know it all....
Hopeless bloke
You're all out of time....the past was yours but the future's mine.
Every single penny. I mean, none of that would go towards supplies, employee's wages, expenses. They got every single penny, the greedy baastards.
All very cosy though.... innit. (Take your time, thicko)
[Post edited 8 Nov 2014 11:19]
Nah I don't see that as being greedy like I said the club would have had to pay it out in the first place and the club might (I still don't know) have saved on it.
That's not to say individuals havent done well out of Swansea City but it's totally irrelevant to the selling out to Americans situation.
The first ever recipient of a Planet Swans Lifetime Achievement Award.
Could the trust be doomed? on 11:30 - Nov 8 by Darran
Nah I don't see that as being greedy like I said the club would have had to pay it out in the first place and the club might (I still don't know) have saved on it.
That's not to say individuals havent done well out of Swansea City but it's totally irrelevant to the selling out to Americans situation.
So lets bury this crap once and for all then about the Directors working for free !!
Too cosy by far i'm afraid and with what happened with our old Trust Director moving "upstairs" to not only be allowed to buy shares some 4 years later into the club but then also to be salaried, and a bloody good salary at that, and then also for his vending company to be doing business with the club for the best part of another £100k a year.....
I mean.... i can see the benefit in becoming a Trust Director....
You're all out of time....the past was yours but the future's mine.
So lets bury this crap once and for all then about the Directors working for free !!
Too cosy by far i'm afraid and with what happened with our old Trust Director moving "upstairs" to not only be allowed to buy shares some 4 years later into the club but then also to be salaried, and a bloody good salary at that, and then also for his vending company to be doing business with the club for the best part of another £100k a year.....
I mean.... i can see the benefit in becoming a Trust Director....
Surely nobody out there still thinks they work for free? The fans for the fans went out the window a long time ago now.
The first ever recipient of a Planet Swans Lifetime Achievement Award.
Could the trust be doomed? on 09:06 - Nov 8 by Uxbridge
Given that the Swansea brand has been built on an inexhaustible supply of goodwill from fans who have supported the ethos of by the fans for the fans, it would indeed be wonderful if this was recognised by those seeking to cash in.
Wow.
I am not surprised to see the halfwit MoscowJack continue to spout this nonsense about the "magic" 25%, but I really thought you were a little bit smarter than that, what with your access to verified experts and everything.
Let me take you through this in baby steps.
Day 1 - All existing individual shareholders sell 90% of their holdings to a new investor at a valuation of £95m for 100% raising £67.5mm, and donate 10% of their original shares to the Trust.
The trust and Mr NewInvestor now each own 28.9% and 71% of the club respectively.
Day 2 - Mr NewInvestor casts votes representing the requisite majority of 50% to launch a rights issue for £25m million to finance stadium expansion and for long term marketing investment.
Day 30 - The subscription period for the rights issue closes with Mr NewInvestor paying in £17.8m for his share of the new shares created, but alas the Trust can only scrape together 800 grand or so to pay for new shares.
Mr NewInvestor now controls 75.6% of the total votes, for a total investment of just over £85m but critically in a company that now has almost £20m in cash in the bank. He will not be unhappy.
Day 31 - The Trust kick back and collectively ponder how they could have been so f*cking stupid as to focus their efforts on the selling shareholders when they should have been concentrating on striking an acceptable deal with Mr NewInvestor.
Could the trust be doomed? on 12:47 - Nov 8 by jackonicko
Unless there is something in an agreement that doesn't allow that. I don't know - let's call it a shareholders agreement.
Anyway, until there is an offer, there's no Sale and Purchase Agreement that would define all of this - so until that happens it's purely conjecture.
A shareholders' agreement that prohibits the sale of shares? No there certainly isn't such a thing, and in the extremely unlikely there was a clause to that effect it would be unenforceable.
That said there may well be a provision for a right of first refusal, but that gets the Trust precisely nowhere with will less than a million in the bank.
Could the trust be doomed? on 13:09 - Nov 8 by westx
MY word do you think businesses have these shareholder agreements?
Is that like the one that everyone believes stops any one shareholder currently going above the 25% that Shakes says is irrelevant
Happy daze then.
No need to worry your excitable, hypocritical little head; you can head straight back to Chester at top speed, cos there is not a thing in the world to worry about.
Could the trust be doomed? on 13:13 - Nov 8 by Shaky
Happy daze then.
No need to worry your excitable, hypocritical little head; you can head straight back to Chester at top speed, cos there is not a thing in the world to worry about.
And there you go again, with every post proving that you aren't that clever at all - your responses do your professionalism you claim any favours
You clearly cannot read the books you keep claiming to own quick enough to keep up with the wave of opinion that is showing you to be the utter cock that you are
I know who you are, lets just leave it like that, ok!!
Oh come on enlighten us as I have no idea who you are so there is no chance that you know who I am. PM me if you are too embarrassed to get it wrong in public!
Could the trust be doomed? on 13:23 - Nov 8 by westx
Oh come on enlighten us as I have no idea who you are so there is no chance that you know who I am. PM me if you are too embarrassed to get it wrong in public!
[Post edited 8 Nov 2014 13:24]
Where do you want to go with this?
You've been reading the board a long time haven't you...
You're all out of time....the past was yours but the future's mine.
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