Fair points but we do not know at this early stage how a Trust will develop, we don't as yet even have a Trust, that the purpose of the Meeting on the 18th.

If a Trust is established any monies will be collected and administered by the Trust not WTRLFC Ttd.

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Further proof that you can't educate pork.

Except that if the £500k is raised the "controlling individuals who have run the club towards its current precarious financial position" will be standing down & leaving whoever is nominated by the contributors of the £500k to manage the business going forward.

If the 500k is raised and if that equates to 500 new shareholders. To change anything those 500 new shareholders would all have to turn up on the same date and at the same time. If the current largest shareholders also turn up there will be no change unless they allow it and only if those put forward have the necessary experience in running a professional rugby league club.

Is it worth investing 1k I think not, donate it to a charity of your choice at least then your money will have made a difference.

The statement offers a number of things at Newmarket, one problem with that is Newmarket does not exist, so they are actually offering investors NOTHING

With current debts of over 1 Million pounds the club will be lucky to survive. Well done TR and the BOD

Why is that so difficult to grasp.

500 grand but ted still large shareholder and entitled to money from sale of bv or thats how i see it..

Money from the sale of BV is due to the CLUB as it is an asset of the CLUB.

If at any time in the future the BoD feels it is appropriate to declare a dividend to shareholders then they are entitled to do so, providing the level of dividend proposed is sustainable from the club's reserves. If such a set of circumstances arose based on the CURRENT structure of the club then Ted would be entitled to receive a dividend proportionate to his shareholding.

HOWEVER, to quote the official club statement earlier this week "The Board of Directors said they have been told repeatedly that people would support the club and come forward with financial assistance if the current Board were not involved. Therefore the Board are offering this opportunity to shareholders, supporters and new investors to come forward and create a new Board of Directors under this scheme."

Further to this, the comments on this forum about Tuesday's meeting indicate that if the £500k is raised Ted will transfer his majority shareholding to a supporters Trust. Ted would NOT receive a single penny of either the £500k OR any future dividend.

Absolutely no idea..................any suggestions how we can make it clearer???

I received my shareholder letter this morning and it says not much more than the official statement. I am reluctant to contribute £1000 to then have to travel outside of the district to watch Trinity. My understanding and I'm not a financial bod is that they owe £350k to all and sundry and they want £500 to stay afload the current BOD will resign but still want to be considered for the new board.

Not so under a Supporters Trust!

Where do you get that from ? I'm a shareholder and I have no idea (yet) what the debt stands at. Knowing the level of debt is vital as it will dictate future actions.

SC
this is the bit thats doing my head in, why dont shareholders know what the current debt is and more importantly who to and what period it covers??

how on earth new shareholders are expected to come forward when existing ones are being kept in the darfk is beyond me, god a simple document like that you could run up in minutes why has it aready taken nearly a week, if its coming at all?

Election of the new BoD will be up to the shareholders. While Ted and some others are unlikely to be re-elected, it may be that individuals such a James Elston or Francis Stephenson are people that would be acceptable to those voting in the new structure.

It also makes sense for there to be some sort of continued presence so that the new BoD can properly establish why certain decisions were made rather than simply try to make a best guess from the minutes of previous meetings.

Exactly, the questions must be answered. If the BoD do not reveal all the facts this share offer has failed before it starts.

But remember the cash is held in Escrow until those new investors decide what to do with it. I will put in a grand and I'm sure that before any money is put into the Club we will insist on seeing the full picture. If the investment does not clear the debt and make the Club solvent again and there are further debts stacked up that cannot be serviced then it should be held and the Club placed in Administration. The funds can then be used to buy the Club from the Administrator and re-capitilise it to continue. Who knows a "sugar daddy" may be interested if he can buy it for a song.

There are lots of ifs and buts though and I think we all want one thing - The survival of Wakefield Trinity.