I can't afford to care.

So, Adeybull, is it possible that the club have acted illegally?

What I do know is that the letters have only been sent to existing shareholders, as I haven't had one and I'm a season ticket holder, and so they have my address. Although the club has publicised what they are doing, I haven't seen any evidence that it is an open invitation. Or am I wrong?

The CLUB are not selling shares & therefore there is no obligation to provide any form of prospectus.

The form of fundraising being proposed is in relation to a existing shareholding and is being offered by an individual shareholder, albeit that any money raised is for the benefit of the club NOT the shareholder concerned.

if the 1k shares "donations" is only open to current shareholders it does reduce the chances of getting the 500k quite considerably.

just out of curiosity how many shareholders are they?

Just trying to understand this:

A shareholder ( lets assume TR) is giving 1 of his £1.00 shares to any person who will donate £1,000 to the club.?

Is that what is happening?

Quote braytontiger="braytontiger"if the 1k shares "donations" is only open to current shareholders it does reduce the chances of getting the 500k quite considerably.'" It isn't, otherwise, why write [iThe club are asking the people of Wakefield to purchase £1000 worth of shares to raise £500,000 with a deadline of 31/1/11 for purchase. [/i www.wakefieldwildcats.co.uk/2011 ... re-scheme/

Quote braytontiger="braytontiger"if the 1k shares "donations" is only open to current shareholders it does reduce the chances of getting the 500k quite considerably.'" It isn't, otherwise, why write [iThe club are asking the people of Wakefield to purchase £1000 worth of shares to raise £500,000 with a deadline of 31/1/11 for purchase. [/i www.wakefieldwildcats.co.uk/2011 ... re-scheme/

It's not a proposal that goes on a pro-rata basis immediately. Control of the whole shareholding is being made available to those individuals who are able to raise the £500k required. That could be anything from one person putting the whole amount in (unlikely I know) to 500 each putting £1,000 in.

If the money is raised by a group of people it will be up to them how they then divide the voting rights that come with them.

So how do fans who are not shareholders get to know what the total shareholding for the £500,000 will be?

The more I read about this, the more nebulous the whole thing becomes. I'm not even sure what people are being asked to invest in/donate to/raise funds for any more (other than the club, of course). What exactly is the deal here? Add the supporters' trust to the mix, and you have one very murky soup indeed, from my perspective.

Let me clarify one thing at least

THE SUPPORTERS TRUST IS NOTHING TO DO WITH THE SHARE OFFER!

The ST was already being organised long before the current glut of financial issues became public, the severity of the clubs situation has hastened the proposed formation of the ST but thats all.

I understand that. What confuses matters for me is how the planned supporters' trust is running along in parallel to the share offering. I know this may be jumping the gun here, and there's no doubt a lot still to be decided, but is the ST also aiming to pool resources to buy into the current share offering? If not, where (and perhaps more importantly, when) does it come into the equation?

As I understand it, the meeting next week will be considering the creation of a ST which will then consider the most appropriate way to help the club. Answers to pertinent questions about what's been happening at the club over the last few months will be available to help people decide whether they wish to be involved in either the fundraising effort, the ST or both.