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29th October 2020, 18.44:32 | #37-0 (permalink) |
retired & running a pub
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Re: SGM 2 announced - the vote on club ownership will take place
The only worrying things in the documents are the financial assumptions about the future of the club should the sale not happen.
Surely there aren't 500 members so obstinate they won't support this? Its literally a once in a lifetime opportunity for the club. |
29th October 2020, 18.45:18 | #38-0 (permalink) | |
retired & running a pub
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29th October 2020, 18.45:19 | #39-0 (permalink) |
Legend
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Re: SGM 2 announced - the vote on club ownership will take place
I just hope nobody tries to derail the meeting and it all runs smoothly. We can then finally look forward to some much needed investment into the club and increased interest in the whole town.
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29th October 2020, 18.45:24 | #40-0 (permalink) |
Taking coaching badges
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Re: SGM 2 announced - the vote on club ownership will take place
So I have had a quick look at the pack. A little surprised that the Trust Board have decided to sit on the fence and made the comment about the National League money keeping finances stable . But they do say the members ( not just them) have to make up their own minds and it is clear to me that long term the club is set to lose money on trading without investment. All things considered , and I say this as a huge Trust fan who has said as much on here, this deal is a good one . I will vote to accept it.
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29th October 2020, 18.45:29 | #41-0 (permalink) | |
Legend
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Re: SGM to be announced tomorrow
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Another L Ritchie concert in the projected figures (Covid?) And membership down to 2108 who can vote Document seems brilliant opportunities we must take it £2 million towards management players and infrastructure. Its like a dream |
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29th October 2020, 18.47:03 | #43-0 (permalink) |
Taking coaching badges
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Re: SGM 2 announced - the vote on club ownership will take place
It means that WAFC the company will issue shares to RR for a price of £2m. Even though such shares are worthless as we are loss making and have little assets. WAFC then have £2m in the bank, RR have the shares. No need for WAFC to pay back the £2m and, because the shares are non-redeemable, RR can’t make WAFC buy back the shares from RR.
The alternative way of doing it is that RR loan £2m to WAFC instead, possibly with security. WAFC then are liable to pay back the £2m to RR if they lose interest or whatever, and will lose assets secured if the loan isn’t repaid. What Miss and Roberts did to us with the ground. And what most private owners do. RR are pretty much gifting us £2m. Last edited by wrexhamandy; 29th October 2020 at 18.48:54.. |
29th October 2020, 18.47:29 | #44-0 (permalink) | |
Tipped As Manager
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Re: SGM 2 announced - the vote on club ownership will take place
God, there will some cringe there won’t there. Hopefully it’s heavily vetted.
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29th October 2020, 18.49:05 | #45-0 (permalink) |
Legend
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Re: SGM 2 announced - the vote on club ownership will take place
I understand the fiduciary duties, but don’t quite get that having the aim of success on the field is not a key binding goal, there is no guarantee in anything in this life but surely aiming for success on the pitch should be a key objective.
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