FAO Lisa

[Swanjaxs]

Has Lisa been kidnapped by the Trust I wonder

 

[Mad_Mike]

Lisa Clement Hi Lisa. Thanks for consolidating these - please see responses below:

1. This is subject to confidentiality clauses over the Shareholders Agreement, so unfortunately we cannot disclose any further information at this stage.

2. We confirm again that dividends and voting rights are ultimately based on % ownership, not number of shares.

3. The Trust has gained appropriate and beneficial Change of Control rights through the settlement agreement in relation to the football club. Gaining rights over the specific ownership structure within the Swansea Football LLC consortium is unrealistic as you probably know from dealings with Delaware based LLC entities.

4. There is currently £13.1m in CLN - as has previously been documented £5m belongs to Jake Silverstein, matched by £5m from Swansea Football LLC. The remaining £3.1m has been loaned by other parties - this does not include the 2016 sellers.

5. As mentioned in a previous responses, we expect this to happen by the start of the new season but have not been given a specific date for the conversion. Ultimately it is up to those who hold the notes to determine if and when they convert, but we are continuing to discuss this with Jake Silverstein and the Board and the Senior Management Team of the club.

Adam Lewis Adam. Thanks for the responses. Re point 2. This is in direct contradiction of the articles which states quite clearly that the C class share is not eligible for a dividend and that dividends are based on number of shares.
What mechanism has been used to contradict the articles and why would brand new articles not address this issue?
Re change of control. Rupert quite clearly stated during the online forum that the matter of change of control at a Swansea Football LLC level had been addressed. This was explicitly asked. Your answer seems to imply that this is not the case. In which case the club can be sold at the topco level with the Trust having no tag rights. Which is quite the hole. Why has this not been considered?
Re point 4 -who has made a loan to the club?

It looks to me as if this reply was written by the owners.

 

[waynekerr55]

Has Lisa been kidnapped by the Trust I wonder

Lisa's follow up questions are as yet unanswered on the FB group

 

[Vetchonian]

waiting for Jake to email the answers back

 

[Uxy]

Has Lisa been kidnapped by the Trust I wonder

Lisa's follow up questions are as yet unanswered on the FB group

Give them a few weeks mun

This is part of the problem with only one person, who can't answer the questions himself, being prepared to engage on social media. Inevitably creates a bottleneck.

Worth noting that at least one of the legal subgroup (Chris Golledge) is actually active on that forum, liking any post Adam puts up but hanging him out to dry by not answering any himself. Not on, to be honest.

 

[Neath_Jack]

The Trust stopped being anything of any use to the fans in 2011.

Should have been knocked on the head then.

 

[jack_lord]

It is tragic watching what is happening to the trust. It shows the contempt certain people have for the trust and how important they were in securing that Swansea City survived and has a future.
21 percent because that is what the supporters trust input - imagine if Martin Morgan's percentage was eroded to a worthless accountant figure by a group that included the trust selling to another group.

 

[Darran]

It is tragic watching what is happening to the trust. It shows the contempt certain people have for the trust and how important they were in securing that Swansea City survived and has a future.
21 percent because that is what the supporters trust input - imagine if Martin Morgan's percentage was eroded to a worthless accountant figure by a group that included the trust selling to another group.

Well said.

 

[BlasterJack]

I'm blaming Sumbler :lol:

 

[Chief]

Propaganda mouthpiece for the majority owners is all they are now.

No critical insight into the running of the club provided ever anymore.

 

[Neath_Jack]

It is tragic watching what is happening to the trust. It shows the contempt certain people have for the trust and how important they were in securing that Swansea City survived and has a future.
21 percent because that is what the supporters trust input - imagine if Martin Morgan's percentage was eroded to a worthless accountant figure by a group that included the trust selling to another group.

I reckon you'll see an ex-chair appear on there soon...

 

[Nocountryforoldjack]

F*cking ell.. they're turning into a rather corporate entity the Trust.. it's unbelievable how much contempt they show the people who actually pay membership fees.. astounding

It's like jump on board with the Americans or f*ck off vibe about it

There's still fans paying for membership ? Mental.

 

[PSumbler]

I'm blaming Sumbler :lol:

I do too mate - some of the arguments I have with myself in my house go on for hours :lol:

 

[PSumbler]

I reckon you'll see an ex-chair appear on there soon...

I reckon you'll see an ex-chair appear on there soon...

Where am I going? :lol:

 

[Neath_Jack]

Where am I going? :lol:

Not you chief.