Takeover update statement 19th Jan

[Rob]

https://wst.org.uk/wp/?p=1553

In full below:

The WST Board would like to issue the following update regarding the proposed takeover of Wrexham AFC by Rob McElhenney and Ryan Reynolds.

It has come to the Wrexham Supporters Trust Board attention that a member posted unofficial and unsubstantiated remarks on social media about the takeover being ‘concluded tomorrow’ (implying Monday 18 January 2021).

Please be advised that the WST Board will let members know as soon as possible through official Club/WST channels when there are further developments or when matters have been finalised.

Last week the board concluded negotiation of the Share Purchase Agreement with RR McReynolds LLC and have exchanged contracts.

Completion of the deal will now be conditional upon a change to the Wrexham Supporters Trust rules- as approved by the members in November last year- being registered by the Financial Conduct Authority.

We will keep members updated regarding this registration of the changes with the FCA.

In the meantime, we wish all supporters a pleasant week and hope you are keeping safe in these challenging times.

[Rob]

That matches what I was told over the weekend - it was explained to me that there was some concerns over turkey vote for xmas type thing - that the deal sort of goes against the aims of the organisation itself.

The other titbit was that the WST was one (or two?) resignations aware from being quorate - so hopefully it all gets done and voted on before any other processes are triggered.

Take the above as 100% unverified rumour

[TrueRed]

How can it be so difficult it’s literally been voted for by the paying members!

[TopCornerFergie]

Takeover9






Earlier than expected...

[CRUMBS]

The FCA , what do they do when certain types get their hands on a club and ruin it , like the Vauns , not a lot .

[jacthelad]

For flips sake. And lol to the turkeys voting for Christmas bit. Can imagine some arguing that. Let the fans vote until we dont like the result
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[FieldtownRed]

Originally Posted by Rob

That matches what I was told over the weekend - it was explained to me that there was some concerns over turkey vote for xmas type thing - that the deal sort of goes against the aims of the organisation itself.

The other titbit was that the WST was one (or two?) resignations aware from being quorate - so hopefully it all gets done and voted on before any other processes are triggered.

Take the above as 100% unverified rumour

As in not enough board members to legally conduct business?

[Huffy]

Lots of Turkey after all those sprouts ?? What next

[Lods]

Hopefully it's by the end of this week. Rumour has it that Keates has got a signing lined up and we're just waiting on this to go through so we can complete it.

[Rob]

Originally Posted by FieldtownRed

As in not enough board members to legally conduct business?

That was the crux of it, someone can probably work out how many board members there are on the relevant body and whip out the constitution, to see if it holds water.

It might explain - and again for clarity an entire guess - why Spencer's resignation was announced but not active until later in the month.

Board members will need to be treated like american president elects with full protection and pampering until the deal day