New beginnings - 25% Truth, 80% Bollocks

[Batch]

https://www.swindontownfc.co.uk/news/2023/august/club-statement-companies-house/

[Mooneyraker]

So, how does that sit with what Aberdeen said last night, reported in the Trust statement today..?

A reminder:

Last night, Rob Angus made a statement at the Fans Forum regarding this notification where he said “we were made aware  this morning via Companies House that there was a confirmation statement update on the ownership structure of Axis Football Investments Limited of Swindon Town Football Club.”

Rob continued “It’s something that we became aware of at the same time you did. We have spoken to Clem about it and he believes that the statement has been filed in error. He has confirmed to us that he is the 100% owner of the football club and a corrective confirmation statement will be submitted as soon as possible.”

So, Clem lied last night, and made Rob repeat the lie in public, and has come clean today...?

[Nemo]

It's the 100% the owner of the football club vs owner of 100% of the football club difference, isn't it?

I can't imagine Rob Angus is exactly delighted with this turn of events though.

[Mooneyraker]

It's the 100% the owner of the football club vs owner of 100% of the football club difference, isn't it?

It sounds like the statement filing is no longer being put down to error though, is it?

And why are the wives the shareholders...? It's a modern world etc but can't help but think they might not be the real beneficiaries.

[Nemo]

It sounds like the statement filing is no longer being put down to error though, is it?

"He believes" being the weasel words there - he believed that at the time, he now realises it wasn't an error? Very much a politician double speak though.

[Cowley38]

Shows Morfuni does not have the funds to run a football club in the long term.

The money has run out.

He is now having to go out with the begging bowl to continue financing the club..

In my opinion it's only a matter of time before he is actively looking to sell if he is not already...

[Mooneyraker]

Interesting that this 'turd in the swimming pool' debenture was alluded to by many before.

[Hyabb17]

So, lends money from said to individuals which turns to shares until it's paid back. Hasn't been so logged, now backtracking like a bitch & thrown Angus under the bus.....nice

[Nemo]

Interesting that this 'turd in the swimming pool' debenture was alluded to by many before.

It's the Black debenture isn't it? Always was going to become due on sale of the club, but previous sales (Jed to Power?) had negotiated some sort of rollover? Or is it another debenture that we weren't aware of?

And why are the wives the shareholders...? It's a modern world etc but can't help but think they might not be the real beneficiaries.

Strongly suspect that's a tax thing, like how Philip Green's entire business was always in his wife's name.

[Bob's Orange]

why oh why oh why did Rob/the club make such a stupid ham-fisted comment about the Companies House mistake last night at the forum?

The other thing I guess I don't get it why Clem/the club actually announce the structure of the Debenture payment during the AB minutes? Then surely we wouldn't be in this situation now?

[Bennett]

I'm not sure the statement directly answers any of the questions other than - it wasn't a mistake

It raises more questions over:
RA's role as mouthpiece CEO
Clem not wanting to make a statement and sweeping it under the carpet
Other bodies buried with due diligence undertaken by Clem in taking over the club
Ongoing funding

[ThreeDrawsMentality]

Think I feel worse after the statement than before if I'm honest. There's no excuse for not communicating this out earlier and nearer the time. The fans would have been completely understanding. It's pure gaslighting antics after the fact now and that trust is wiped.

[Mooneyraker]

Leaves the Trust in a pickle, having been assured multiple times that Clem is the 100% owner/100% the owner ( ).

[Nemo]

Think I feel worse after the statement than before if I'm honest. There's no excuse for not communicating this out earlier and nearer the time. The fans would have been completely understanding. It's pure gaslighting antics after the fact now and that trust is wiped.

I don't know, I'm not sure everyone would have been 100% understanding of "I don't actually have enough money". The smokescreen is definitely worse, but I don't think it's fair to say everyone would have been chill about him directly saying he'd borrowed money off some people we have at best, some questions about.

Certainly explains the drive to make the club self-sustaining funding wise.

[Hyabb17]

So clem didn’t pay for the debentures himself as it was said back in the October minutes. Was these other two!!