Why does wakefield need to sell shares in blocks of 1k or have I missed the point?

In the last accounts your club had authorised share capital of 10,000,000 £1 ordinary shares (not that thats really an issue under the new CA2006). but with issued share capital standing at 507,017 theres still 9,492,983 £1 ordinary shares that could be sold.

your club could just have said we need to sell 500K worth of shares to raise finance and buy as many as each fan feel they could afford and still take part.

It is just a Share Application Form you need to fill in - which you complete whenever you buy shares.

Many thanks Tricky

I think the club needs to be more upfront about what they need the money for. The deadline suggests it is an immediate need for the cash rather than general operating funds, and in which case, if the 500K is destined for a specific issue, whatever that may be, what happens when the next crisis comes along? The current BoD will be able to say "your problem now" and we will have all kissed goodbye to our cash.

If the club can say what the money is for, they may get some of mine, but it all sounds very vague. Saving the club is one thing. Merely postponing it's demise another.

vague is an understatement.
it sounds crazy that one body of people can ask another body of people for half a million pounds and not tell them exactly what its for.

It is for the re-capitalisation of the club. £500k would securen the future of the club and, in fairness, they are giving the club away for that money.

The details of exactly what the position is would only become fully known to those who sign confidentiality agreements and continue the due diligence process - which takes a long time!

My feelings exactly; the information that's been provided so far is simply not sufficient to justify parting with a grand - it looks cobbled together and does not create the impression that this is a very well thought out scheme.

Furthermore, the question posed by vikinggriff above is a very good one; if there are existing shares from the previous issue that remain unsold, why the need to devalue them further with a new batch of shares, aswell as excluding smaller investors by insisting on blocks of £1k? On that subject - the suggestion that syndicates could club together to buy a block is rather undermined by the 'benefits' that have been announced; are those people meant to share their preferential seat at NM for example? Do they *all* get to go to SH meetings and events, or do they have to take it in turns? If they all get a seat and an invite, why would I bother investing 1k when I can get 5 x the benefits for myself and four of my friends and family, for 200 quid apiece?

The relevant question here is:-
"How much does the existance of Wakefield Trinity mean to you and how important is it in your life - and is that
worth £1000?

If it is then find a way ... whether it is getting together with a few others to make up the money or change/cut back on a few things, raiding the 'piggy bank' whatever.

Too late when the Club is no more - and trust me it is that important to raise the money, so where, why and to whom really doesn't come into the equation

I certainly know my answers!

its nowhere near that simple and it is irresponsible of people of people to try and paint it as such, people should make this decision without any pressure, you probably know enough to make the decision based on your own finances but i would not advocate a "dig for britain" approach here, because the full facts are not in the public domain yet it is the public who are being asked for cash.

Although "recapitalisation" sounds fancy, isn't it just raising money buy flogging more shares? So it doesn't answer what the money is for. Does "securing the future of the club" mean warding off an imminent threat, or does it mean that it will provide sufficient extra funds for general running costs? The former sounds like a grand to postpone the inevitable, whereas the latter sounds fine.

But the cloak and dagger stuff doesn't fill me with confidence, because the confidentiality stuff sounds like they want my cash but won't tell me why until they've got it.

Not having a go, because I'm prepared to hand over the cash if I think it will genuinely secure the club, but it's not been sold well to me at the moment.

Why not put funds into a fans trust and let the club and boards debts enter administration then buy it out for a pittance and be debt free? Being honest can you see SL bid being accepted? And how much of 500k needed to clear debt which could be better used?