Club statement: Loan converted to equity

[Longlostjack]

The Trust Board has played a blinder. The blind leading the blind and that’s a generous interpretation.

Edit - I know unsighted is the correct term but blind here is more appropriate.

 

[Niigata Jack]

The Trust Board has played a blinder. The blind leading the blind and that’s a generous interpretation.

Edit - I know unsighted is the correct term but blind here is more appropriate.

Had shares worth millions, now they're virtually worthless because of their uneducated decision's, I really can't believe they're still in their positions, their positions should have been untenable after they signed away what they did.

 

[Cinio Dydd Sul]

I see the resident shill/buffoon on the board is lying again for their own ends.

As far as I'm aware the club has not been promoted to the Premier league and as such the trust get zero from these transactions? Certainly not 500k they are claiming.

Which the trust of course still haven't confirmed where it will actually come from. Not that we need worry about it for a while yet.

 

[Nocountryforoldjack]

Trust the process innit.... Next level baby!

 

[Niigata Jack]

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?

Something for nothing, is that some sort of Joke!

If they hadn't shamedly been left out of the discussions at time of sale, they may have a nice pot to protect the club with if its ever needed, but that sale proceeded behind "the" then trusts boards back's and this "new" board undid all the work that had been done and more importantly voted for "BY" its members, Swansea City fans sold down the River twice and second time by a board that was there to supposedly protect the interest of those members. Disgraceful!

Some need to wake up, unless they have an agenda of course!

 

[Cinio Dydd Sul]

Something for nothing, is that some sort of Joke!

If they hadn't shamedly been left out of the discussions at time of sale, they may have a nice pot to protect the club with if its ever needed, but that sale proceeded behind "the" then trusts boards back's and this "new" board undid all the work that had been done and more importantly voted for "BY" its members, Swansea City fans sold down the River twice and second time by a board that was there to supposedly protect the interest of those members. Disgraceful!

Some need to wake up, unless they have an agenda of course!

They unfortunately walk amongst us and occasionally the mask slips.

'we' :lol:

 

[Niigata Jack]

They unfortunately walk amongst us and occasionally the mask slips.

'we' :lol:

It does at that, self awareness is obviously not a trait they possess. It's amazing on how they can't see the ballsup they've made, then again that horse has truly bolted.

 

[Swanjaxs]

If only the Trust (sic) would just admit they got tucked up by a bunch of hard nosed American businessmen it would be something, but no, they still waffle on as if they knew exactly what they were singing up too.

Basically, a calamitous loss of money and influence.

Still got the posh seat and pre/post match nibbles though, so not all lost...

 

[Cinio Dydd Sul]

If only the Trust (sic) would just admit they got tucked up by a bunch of hard nosed American businessmen it would be something, but no, they still waffle on as if they knew exactly what they were singing up too.

Basically, a calamitous loss of money and influence.

Still got the posh seat and pre/post match nibbles though, so not all lost...

And of course they're being fully informed of all happenings at the club as they like to tell us.

Funny they didn't tell anyone before yesterday that the club had been loaned another 3mill pound, taking the total to 19mill. Must have slipped their mind.

Just like the last 3mill to make it 16mill. And that the previous 3mill to take it 13mill was actually Silverstein himself and not 'other shareholders' as they previously stated.

But they're definitely being kept in the loop. At all times.

 

[Niigata Jack]

And of course they're being fully informed of all happenings at the club as they like to tell us.

Funny they didn't tell anyone before yesterday that the club had been loaned another 3mill pound, taking the total to 19mill. Must have slipped their mind.

Just like the last 3mill to make it 16mill. And that the previous 3mill to take it 13mill was actually Silverstein himself and not 'other shareholders' as they previously stated.

But they're definitely being kept in the loop. At all times.

And you got your former sparring partner, backing this lot and still harping on about 6 yrs of waste and the deal in 2015/2016 that he's still insisting that the then Trust said that they would not be interested in selling its shares, still ignoring the fact that they were totally sidelined from any discussion's of which he's been told that many times that its become boring, him and one or two others have clear agendas that much is clear.

 

[Cinio Dydd Sul]

And you got your former sparring partner, backing this lot and still harping on about 6 yrs of waste and the deal in 2015/2016 that he's still insisting that the then Trust said that they would not be interested in selling its shares, still ignoring the fact that they were totally sidelined from any discussion's of which he's been told that many times that its become boring, him and one or two others have clear agendas that much is clear.

Yea same old discredited nonsense being trotted out.

"The trust should have sold in 2015"

to who? Noell and Moores? The men who didn't bid for any shares who after meeting with the trust were deemed unsuitable to sell to? Oh yea good look for a supporters trust to sell to someone like that.

"The sellouts put the current American owners in front of the trust to make a deal"

Oh aye only after a year of collusion to exclude the trust from ongoing negotiations and after they'd agreed to buy the sellouts shares and no one else's. Even to the point of risking court action to not have to buy them?

The latest one propaganda to try and make out everything is rosy is that:

"The trust have an additional 500k being paid them"

When of course nothing of the sort is true. That payment is due upon promotion to the prem - with no guarantee even then where it will come from.

 

[ARQS]

Personally, I don't think it makes any difference if the Trust's shares are diluted or not. They're useless as an entity whether they have 20% or 2% shares and they'll be (willingly) tucked up at every turn.

They won't be relevant again until the money they have is being used to buy the club back off some shady owner at some stage in the fairly distant future.

Shame.

 

[Cinio Dydd Sul]

Personally, I don't think it makes any difference if the Trust's shares are diluted or not. They're useless as an entity whether they have 20% or 2% shares and they'll be (willingly) tucked up at every turn.

They won't be relevant again until the money they have is being used to buy the club back off some shady owner at some stage in the fairly distant future.

Shame.

Influence wise I totally agree.

Financially they will now suffer because they've dropped from having 21% to 5% of the club. If the investment that lead to their dilution had made or will make a material difference to what someone else will buy the club for then them having 5% could potentially be worth more than the 21% they had.

But ultimately, despite having investment a few years ago, the team has actually regressed and is worth less than previously, so it's a double whammy. They previously owned 21% of a club challenging for promotion to the prem, but now own just 5% of a club flirting with relegation to league 1, with the only difference being the club is in less debt (which was from loans from the owners anyway).

 

[Niigata Jack]

Yea same old discredited nonsense being trotted out.

"The trust should have sold in 2015"

to who? Noell and Moores? The men who didn't bid for any shares who after meeting with the trust were deemed unsuitable to sell to? Oh yea good look for a supporters trust to sell to someone like that.

"The sellouts put the current American owners in front of the trust to make a deal"

Oh aye only after a year of collusion to exclude the trust from ongoing negotiations and after they'd agreed to buy the sellouts shares and no one else's. Even to the point of risking court action to not have to buy them?

The latest one propaganda to try and make out everything is rosy is that:

"The trust have an additional 500k being paid them"

When of course nothing of the sort is true. That payment is due upon promotion to the prem - with no guarantee even then where it will come from.

The clown is at it again, he/she or sheep continually and conveniently avoid the auctuall truth, that much so that it becomes laughable.

 

[Cinio Dydd Sul]

The clown is at it again, he/she or sheep continually and conveniently avoid the auctuall truth, that much so that it becomes laughable.

Yea they get disproved and discredited by posters regularly (the trust said they'd never sell is the latest myth I notice).

Bet they'll be repeating it again in a few days though (despite an even partial acknowledgement that they were wrong).

Worse than Boris Johnson for lying, being caught lying and then brazenly repeating the lies again and again.