Club statement: Loan converted to equity

[A4Jack]

https://www.swanseacity.com/news/club-statement-convertible-loan-notes

Can see where this is leading then!

 

[bakajack]

Soon all we will have is our non dilutable share holding and nothing else
Thank you Trust :evil:

 

[Risc]

There will be more news to come.

Mitch has just hinted at it aswell.

 

[A4Jack]

There will be more news to come.

Mitch has just hinted at it aswell.

Think it'll probably be by tomorrow latest.

All fun and games :roll:

 

[jasper_T]

Soon all we will have is our non dilutable share holding and nothing else
Thank you Trust :evil:

The alternative is that the club sees no new money coming in. If the Trust can't match funding then of course it gets diluted. Or is the idea that they get something for nothing out of the goodness of peoples' hearts?

 

[Londonlisa2001]

Soon all we will have is our non dilutable share holding and nothing else
Thank you Trust :evil:

IT IS BLOODY DILUTABLE.

I note the Trust have even started referring to it as ‘effectively non dilutable’.

It’s only the voting rights that are maintained (via the C class share), the economic rights are being diluted all the time.

Of as much interest is the cleaning up of the structure moving Silverstein’s shares (and him) to the holding company. Suggest a takeover is on the cards as there wouldn’t be much reason for doing it if it was a simple investment. Doesn’t mean it will all happen straight away but it’s laying groundwork.

 

[bakajack]

IT IS BLOODY DILUTABLE.

I note the Trust have even started referring to it as ‘effectively non dilutable’.

It’s only the voting rights that are maintained (via the C class share), the economic rights are being diluted all the time.

Of as much interest is the cleaning up of the structure moving Silverstein’s shares (and him) to the holding company. Suggest a takeover is on the cards as there wouldn’t be much reason for doing it if it was a simple investment. Doesn’t mean it will all happen straight away but it’s laying groundwork.

The trust's words not mine Lisa.
I agree with everything you said

 

[monmouth]

IT IS BLOODY DILUTABLE.

I note the Trust have even started referring to it as ‘effectively non dilutable’.

It’s only the voting rights that are maintained (via the C class share), the economic rights are being diluted all the time.

Of as much interest is the cleaning up of the structure moving Silverstein’s shares (and him) to the holding company. Suggest a takeover is on the cards as there wouldn’t be much reason for doing it if it was a simple investment. Doesn’t mean it will all happen straight away but it’s laying groundwork.

I took it as readying for a sale or fairly imminent partial sale.

 

[Londonlisa2001]

The alternative is that the club sees no new money coming in. If the Trust can't match funding then of course it gets diluted. Or is the idea that they get something for nothing out of the goodness of peoples' hearts?

The Trust was entitled to £21m that it has now lost as it was excluded from the sale of the club it had been instrumental in taking from a basket case to the premier league. That’s not ‘something for nothing’.

Keep kissing your paymaster’s backside, there a good boy.

 

[Londonlisa2001]

The trust's words not mine Lisa.
I agree with everything you said

I know, sorry I should have made it obvious I was shouting at their language.

 

[NeathJack]

IT IS BLOODY DILUTABLE.

I note the Trust have even started referring to it as ‘effectively non dilutable’.

It’s only the voting rights that are maintained (via the C class share), the economic rights are being diluted all the time.

Of as much interest is the cleaning up of the structure moving Silverstein’s shares (and him) to the holding company. Suggest a takeover is on the cards as there wouldn’t be much reason for doing it if it was a simple investment. Doesn’t mean it will all happen straight away but it’s laying groundwork.

A sale of the LLC rather than the football club itself (amounts to pretty much the same thing I guess)?

 

[Londonlisa2001]

I took it as readying for a sale or fairly imminent partial sale.

Yep. Will be interesting to see how much is being sold.

 

[Londonlisa2001]

A sale of the LLC rather than the football club itself (amounts to pretty much the same thing I guess)?

Interestingly, it has some impact on what the Trust board claimed were their tag rights at the point of their ‘deal’.

Some very specific questions were asked at the time about their rights in the event of a sale of the American company to which no answers were forthcoming (not convinced anyone understood the question). It was always a fairly obvious route that could be taken. We will see I guess…

It would be an odd move though if there isn’t a deal at a US level (if the people involved a4e as speculated, doing it at a US level would make sense).

 

[Uxy]

Interestingly, it has some impact on what the Trust board claimed were their tag rights at the point of their ‘deal’.

Some very specific questions were asked at the time about their rights in the event of a sale of the American company to which no answers were forthcoming (not convinced anyone understood the question). It was always a fairly obvious route that could be taken. We will see I guess…

It would be an odd move though if there isn’t a deal at a US level (if the people involved a4e as speculated, doing it at a US level would make sense).

I mean, who could have seen this coming?

 

[Londonlisa2001]

I mean, who could have seen this coming?

It’s almost completely out of the blue to be honest. How can you possibly plan for such an unforeseen circumstance?