Silverstein still hasn't converted....

[PSumbler]

Firstly he hasn’t converted. The title of this thread is hugely misleading. It says he’s in the process of doing so. Which he has been for the best part of a year.

Secondly, why are the Trust being thanked for their cooperation?

Details of the conversion were set when the debt was issued. No cooperation is required to convert at the terms agreed at the time (when I say agreed, agreed at Board level, not by the Trust).

Two options - either the terms have changed in which case why the hell are the Trust doing anything other than loudly objecting and taking action, or the terms are the same, in which case why on Earth is this process taking more than the five minutes it should take?

It’s all nonsense.

So long as they get a name check they think its progress

 

[Nocountryforoldjack]

Firstly he hasn’t converted. The title of this thread is hugely misleading. It says he’s in the process of doing so. Which he has been for the best part of a year.

Secondly, why are the Trust being thanked for their cooperation?

Details of the conversion were set when the debt was issued. No cooperation is required to convert at the terms agreed at the time (when I say agreed, agreed at Board level, not by the Trust).

Two options - either the terms have changed in which case why the hell are the Trust doing anything other than loudly objecting and taking action, or the terms are the same, in which case why on Earth is this process taking more than the five minutes it should take?

It’s all nonsense.

Quite right.

There was also the revelation that the trust were taking legal advice over this which could suggest there is something amiss.

Legal advice which will take 6 years then they'll give up.

 

[Dewi1jack]

Quite right.

There was also the revelation that the trust were taking legal advice over this which could suggest there is something amiss.

Legal advice which will take 6 years then they'll give up.

Legal advice?
Like Tweedle dumb and Tweedle thick as pigshit that they attended with for the meeting, where the Trust informed us they'd sold out for a prawn sandwich?
Still waiting for answers on the questions that load refused to answer at the meeting.
Things that were beyond them to answer.
This Trust board sold the fans down the river.
As bad as the original sellers like shagger, dimwit, beaky and van clog.

No faith in the Trust whatsoever.

 

[Uxy]

Firstly he hasn’t converted. The title of this thread is hugely misleading. It says he’s in the process of doing so. Which he has been for the best part of a year.

Secondly, why are the Trust being thanked for their cooperation?

Details of the conversion were set when the debt was issued. No cooperation is required to convert at the terms agreed at the time (when I say agreed, agreed at Board level, not by the Trust).

Two options - either the terms have changed in which case why the hell are the Trust doing anything other than loudly objecting and taking action, or the terms are the same, in which case why on Earth is this process taking more than the five minutes it should take?

It’s all nonsense.

I think the recent articles changes are interesting, with the removal of his (or anyone holding CLNs) automatically having the right to a director. Either that means it's happening pretty imminently, for his 5m at least, or they're putting pressure on him to do so.

As we know the terms, we'll also eventually see the number of shares issued. Hopefully would be able to work back from that in terms of whether anything has changed.

Or course, it would be peachy if people could just be honest and up front about what's happening, why and when.

There was another change in the Articles referring to preemption rights. Meant to ask if could see any issues with that clause being removed.

 

[Cinio Dydd Sul]

The trust say £10mill of conversation is completed. Trust diluted to 16%.

 

[Risc]

The trust say £10mill of conversation is completed. Trust diluted to 16%.

Link Chief?

 

[Cinio Dydd Sul]

https://www.swanstrust.co.uk/news/trust-statement-on-clns/

So presumably there's still £3million of loans outstanding and that the likes of Jenkins and Morgan have also been diluted?

 

[Nocountryforoldjack]

By the fans for the fans

 

[Cinio Dydd Sul]

I wonder what came of the legal advice the trust were taking recently?

 

[Nocountryforoldjack]

I wonder what came of the legal advice the trust were taking recently?

Probably shit out like the last time

 

[Niigata Jack]

Well, the trust has done a fabulous job for the owners, best thing since sliced bread this latest bunch, between them and Silver bollox they've cleaned up the situation after 6 yrs of previous trusts failure's supported by clueless fans, according to the Shephard from a Neath village.

Some people can't see the wood for the tree's well they wouldn't want to when they've agendas to keep to.