Wrexham Supporters Trust board call SGM following a bid to purchase the club. - Page 5 - RedPassion.co.uk

TopCornerFergie · 14th September 2020, 10.27:53

Absolutely in favour of entering into negotiations. If it all sounds crooked during negotiations then we can walk away, but the wording sounds like we're onto a good thing:

An approach to invest in Wrexham AFC Limited has been received by two extremely well-known individuals of high net worth, advised by credible and professional advisers (“the Investors”).

Your typical Colin Poole, Alex Hamilton, Stuart Murphy types could hardly be categorised like this.

Big part of me still thinks this is all a bit too good to be true, especially in such unstable times, but we have to go as far as safely possible.

jarko · 14th September 2020, 10.27:58

Quote:

Originally Posted by marathonplny

Savage and Hughes - pure guess

i,m with you here but its Hughes and savage .

short_gog · 14th September 2020, 10.28:11

For those who can't get on it

Background
The trust has received a number of approaches from parties wishing to invest in Wrexham AFC Limited or acquire a controlling interest in Wrexham AFC Limited. Resolution F passed at the annual general meeting of members on Monday, 25th June 2018 and Resolution E passed at a special general meeting of members on Saturday, 1st August 2020 provide guidance for the board as to how such approaches should be dealt with by the board (“the Previous Resolutions”).

One of the approaches by two extremely well known individuals of high net worth advised by credible and professional advisers (“the Investors”) have indicated that they would wish to purchase the entire issued share capital of Wrexham AFC Limited for a nominal sum and immediately invest £2 million into Wrexham AFC Limited for the purposes of taking the club forward as a business and as a successful football team (“the Offer”).

The board of Wrexham Football Supporters’ Society Limited (“WST) and external professional advisers consider that the indicative offer is entirely credible. The board of WST consider that a credible potential offer of investment of the magnitude of £2 million should be assessed and negotiated so that a firm proposal can be placed before the members as rapidly as reasonably possible.

The Investors have indicated that they wish their identities to remain confidential until members have authorized the board of WST to proceed with discussions. However, the profile of the Investors is such that there is likely to be a significantly increased profile for the football club and very substantial commercial opportunities going forward. The identity of the Investors will be made known to members in the notice of any emergency general meeting called to approve a transaction.

The board of WST seek the approval of the members to actively pursue discussions regarding the Offer notwithstanding the fact that the terms of the offer may not be entirely consistent with a strict interpretation of WST’s constitution and the Previous Resolutions.

Resolution – to be passed as an ordinary resolution. Please note that this is one resolution in three parts and you have to approve/ disapprove all 3 parts as a single voting item.

1. Notwithstanding the Previous Resolutions the board of WST or sub-groups of the board (and advisers) be authorised to discuss the Offer with the Investors in order to negotiate a detailed heads of terms for a potential transaction with the intention that once a detailed heads of terms is negotiated the board of WST will call a further SGM for members to accept or reject the Offer. Acceptance of the offer would be by an extraordinary resolution.

2. At an SGM called for approval of the Offer WST board will provide all appropriate
information regarding any offer to members. The Investors will be permitted to present their vision for Wrexham AFC Limited to the members in writing or by audio visual means.

3. The board of WST be authorised to engage appropriate professional advisers, subject to controlling any exposure as to costs.

Kiddy Dragon · 14th September 2020, 10.28:52

Quote:

Originally Posted by KingBuxton_Forever red

Perhaps a stupid question, but why would someone want to randomly get involved with a club like Wrexham and pump money into it? Am I right to be cynical?

I'm as cynical as the next person where money is involved. However there are people around like Jim Radcliffe who has so much money they are looking for ways to enjoy spending it. Think what it costs to train and run a racehorse yet thousands do it to enjoy their money for little or no return. There are a few super rich around who after they have looked after their families would enjoy a Wrexham project to sink their teeth into. I would hope the persons involved have some link with the town.

Red Dragon Froomie · 14th September 2020, 10.29:20

It's so important that we at least proceed to the next phase of talks. I know a lot of people don't want the Trust to lose control, but if Covid gets worse, then we need investment to survive. It's a no brainer for me

Andy · 14th September 2020, 10.29:41

Quote:

Originally Posted by Nige Roberts

It’s a no brainer at this stage we will only be voting on whether the board should enter discussions with the potential investors. 🤷*♂️

Exactly this. There’s still no commitment to sell at this point, just to continue discussions and provide clarity for the members. Be mad to vote no at this stage.

TopCornerFergie · 14th September 2020, 10.29:47

Quote:

Originally Posted by 138+NotOut

Am I right in saying the club is sold for say £1 and £2m in the bank to spend straight away?

Yes sounds like it "nominal fee" won't be much, and as far as I understand any 'gains' made by the Trust would go to local charities; so the "nominal fee" is essentially down to whether these new investors fancy donating to Nightingale House along the way.

Tom wafc · 14th September 2020, 10.30:07

Everyone should be voting to pass this through. Let the discussions take place and let us see who they are, and then a decision can be made.

wrexhamforever16 · 14th September 2020, 10.32:46

With the way it’s worded, I believe the club already trust the intended buyer and know them to only have good interests of the club. With that said, could it possibly be two former players? Someone like savage?

The statement insinuates that the board know this will be a good deal, let’s hope it all goes through. Exciting time’s ahead. This club has absolutely huge potential if worked with properly.

14th September 2020, 10.27:53	#37-0 (permalink)
TopCornerFergie Legend Joined: Apr 2011 Racecourse Spot: Tech End Real Name: Matty Twitter: @snowdonia_soc	Re: Wrexham Supporters Trust board call SGM following a bid to purchase the club. Absolutely in favour of entering into negotiations. If it all sounds crooked during negotiations then we can walk away, but the wording sounds like we're onto a good thing: An approach to invest in Wrexham AFC Limited has been received by two extremely well-known individuals of high net worth, advised by credible and professional advisers (“the Investors”). Your typical Colin Poole, Alex Hamilton, Stuart Murphy types could hardly be categorised like this. Big part of me still thinks this is all a bit too good to be true, especially in such unstable times, but we have to go as far as safely possible.

14th September 2020, 10.28:11	#39-0 (permalink)
short_gog Cult Hero Joined: Jan 2009 Racecourse Spot: Real Name: Llion Twitter: @	Re: Wrexham Supporters Trust board call SGM following a bid to purchase the club. For those who can't get on it Background The trust has received a number of approaches from parties wishing to invest in Wrexham AFC Limited or acquire a controlling interest in Wrexham AFC Limited. Resolution F passed at the annual general meeting of members on Monday, 25th June 2018 and Resolution E passed at a special general meeting of members on Saturday, 1st August 2020 provide guidance for the board as to how such approaches should be dealt with by the board (“the Previous Resolutions”). One of the approaches by two extremely well known individuals of high net worth advised by credible and professional advisers (“the Investors”) have indicated that they would wish to purchase the entire issued share capital of Wrexham AFC Limited for a nominal sum and immediately invest £2 million into Wrexham AFC Limited for the purposes of taking the club forward as a business and as a successful football team (“the Offer”). The board of Wrexham Football Supporters’ Society Limited (“WST) and external professional advisers consider that the indicative offer is entirely credible. The board of WST consider that a credible potential offer of investment of the magnitude of £2 million should be assessed and negotiated so that a firm proposal can be placed before the members as rapidly as reasonably possible. The Investors have indicated that they wish their identities to remain confidential until members have authorized the board of WST to proceed with discussions. However, the profile of the Investors is such that there is likely to be a significantly increased profile for the football club and very substantial commercial opportunities going forward. The identity of the Investors will be made known to members in the notice of any emergency general meeting called to approve a transaction. The board of WST seek the approval of the members to actively pursue discussions regarding the Offer notwithstanding the fact that the terms of the offer may not be entirely consistent with a strict interpretation of WST’s constitution and the Previous Resolutions. Resolution – to be passed as an ordinary resolution. Please note that this is one resolution in three parts and you have to approve/ disapprove all 3 parts as a single voting item. 1. Notwithstanding the Previous Resolutions the board of WST or sub-groups of the board (and advisers) be authorised to discuss the Offer with the Investors in order to negotiate a detailed heads of terms for a potential transaction with the intention that once a detailed heads of terms is negotiated the board of WST will call a further SGM for members to accept or reject the Offer. Acceptance of the offer would be by an extraordinary resolution. 2. At an SGM called for approval of the Offer WST board will provide all appropriate information regarding any offer to members. The Investors will be permitted to present their vision for Wrexham AFC Limited to the members in writing or by audio visual means. 3. The board of WST be authorised to engage appropriate professional advisers, subject to controlling any exposure as to costs. __________________ In the jungle, the mighty jungle, the Llion sleeps tonight, WUMs away ........... WUMs away

14th September 2020, 10.29:20	#41-0 (permalink)
Red Dragon Froomie Legend Joined: Feb 2011 Racecourse Spot: Yale Stand Real Name: Rich Twitter: @froomielol	Re: Wrexham Supporters Trust board call SGM following a bid to purchase the club. It's so important that we at least proceed to the next phase of talks. I know a lot of people don't want the Trust to lose control, but if Covid gets worse, then we need investment to survive. It's a no brainer for me

14th September 2020, 10.30:07	#44-0 (permalink)
Tom wafc Club Captain Joined: Jul 2012 Racecourse Spot: none given Real Name: none given Twitter: @	Re: Wrexham Supporters Trust board call SGM following a bid to purchase the club. Everyone should be voting to pass this through. Let the discussions take place and let us see who they are, and then a decision can be made.

14th September 2020, 10.32:46	#45-0 (permalink)
wrexhamforever16 Legend Joined: Apr 2012 Racecourse Spot: MOLD ROAD STAND Real Name: Twitter: @	Re: Wrexham Supporters Trust board call SGM following a bid to purchase the club. With the way it’s worded, I believe the club already trust the intended buyer and know them to only have good interests of the club. With that said, could it possibly be two former players? Someone like savage? The statement insinuates that the board know this will be a good deal, let’s hope it all goes through. Exciting time’s ahead. This club has absolutely huge potential if worked with properly.