Chief said:
Yes but if it was for equity, wouldn't all of the other shareholders have to be offered the chance to match the investment so they can avoid being diluted?
Winter previously alluded to the current CLN being increased, but apparently this 'investment' doesn't involve a loan.
I am skeptical that they would just put money without expecting anything back. Why wouldn't they have announced it publically if they had too? What better charm offensive campaign ahead of some potential legal action would there be?
My attention was pointed to this.
Irrespective of what is being said and where it is being said there are two mechanisms for injecting money in to a company. Equity. And loans. And convertible loans are loans until they become equity.
No one is gifting money. It’s not possible. As I’ve said repeatedly, the owners / lenders and the club are not fungible,
There was talk some time ago by Winter I think that another loan was required. This will, one assumes, be in the form that the last one took. Where Silverstein had a loan of £5m matched by the majority owners and there is now, it seems from public statements, some additional amounts of uncertain provenance, totalling some £12m-£13m from what has been said.
To reiterate. Silverstein has loaned money. He may or may not become an owner in due course if there is conversion to equity. Or may be now if he has put any money into Swansea Football LLC, the Delaware holding company for 69% (from memory) of Swansea City 2002 Limited which owns the football club. He doesn’t own shares in Swansea City 2002 Limited according to companies house filings.
If there has been an equity investment it hasn’t been a announced as yet and no further loans have been announced as yet either.
I would avoid reading too much into financial announcements on sources other than official.
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