Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

Two sets of technical changes put forward by Bryn Law - the pair are to the bottom of [url]https://wst.org.uk/wp/?page_id=503[/url]

He wants a penalty clause of £2k for breaking an NDA rather than £50,000, explaining it as [I]"It is my contention that this figure has been set too high and that it actually discourages any approaches from those with serious investment intent as they regard such a figure as being excessive in comparison to other investment negotiations in which they have been involved."[/I]

The Gate process is worth a read fully, with the first two intro paragraphs below from him: [I]"It is my proposal that The Gate Approval Process be amended to better encourage credible investment approaches. It is my contention that, as it exists, the process is overly punitive and, as such, is discouraging all potential investors from taking the process anywhere beyond the requirement to sign an NDA, particularly as the onus to
maintain confidentiality only falls on the investor, not on the Society Board.


"Furthermore, the fact the potential investor must then make a 5k payment to facilitate a second meeting and provide a business plan and proof of funding, but the Society board still has the right to end the process at this stage without disclosing the detail to the membership is unlikely to encourage credible investors to pursue the process to
this stage. There are good and bad investors out there, my contention is that whilst this process is rightly designed to discourage those whose intentions could be harmful, it’s actually too restrictive and is actually discouraging even those with positive intentions."[/I]

The Board advises against the first and 'strongly' advises against the second says it [I]'...could lead to a repetition of the near farce which occurred when the previous owners were attempting to sell the club.'
[/I]

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

[I]"Furthermore, the fact the potential investor must then make a 5k payment to facilitate a second meeting and provide a business plan and proof of funding, [B]but the Society board still has the right to end the process at this stage without disclosing the detail to the membership[/B] is unlikely to encourage credible investors to pursue the process to
this stage. There are good and bad investors out there, my contention is that whilst this process is rightly designed to discourage those whose intentions could be harmful, it’s actually too restrictive and is actually discouraging even those with positive intentions."[/I]

There it is.

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

WST say they are surprised he knows the conditions of their NDA.

Surely we should all know what the conditions if OUR NDA are?

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

out of interest, does this approval also apply to donations?

for example, if a lottery winner wanted to inject a £1m pot of money into the club (something that is not unfathomable), no questions asked and for no stake or involvement in the club, would the board steadfastly have to stick to the approval process??

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

Gets my vote

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

[QUOTE=Iesty;2264148]out of interest, does this approval also apply to donations?

for example, if a lottery winner wanted to inject a £1m pot of money into the club (something that is not unfathomable), no questions asked and for no stake or involvement in the club, would the board steadfastly have to stick to the approval process??[/QUOTE]

No. Only ownership changes (either takeovers, or people wanting to purchase a part-stake).

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

[QUOTE=Iesty;2264148]out of interest, does this approval also apply to donations?

for example, if a lottery winner wanted to inject a £1m pot of money into the club (something that is not unfathomable), no questions asked and for no stake or involvement in the club, would the board steadfastly have to stick to the approval process??[/QUOTE]

Have you won?
Just checked my numbers, its not me :)

Donations can be made anytime. Personally I would make them to WST and they can invest as they see fit.

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

[QUOTE=pagl;2264154]Have you won?
Just checked my numbers, its not me :)

Donations can be made anytime. Personally I would make them to WST and they can invest as they see fit.[/QUOTE]

its all part of my masterplan IF i ever do :coolgleamA:

Re: Bryn Law puts forward 'Gate Approval Process' changes and NDA changes
 

[QUOTE=pagl;2264154]Have you won?
Just checked my numbers, its not me :)

Donations can be made anytime. Personally I would make them to WST and they can invest as they see fit.[/QUOTE]

Personally from what we've seen them waste on players, I won't trust them with a penny. I'm surprised you would to be honest