Power phone in tonight 6pm

[Reg Smeeton]

I may be missing the point and being a bit thick (probably the latter) but do the accounts recently submitted showing a loss of 86k down from whatever they were not answer what a AGM would answer?

The point of the AGM, was more symbolic....the Board would have to front up to room full of fans so some sort of accountability even if flawed

[horlock07]

I may be missing the point and being a bit thick (probably the latter) but do the accounts recently submitted showing a loss of 86k down from whatever they were not answer what a AGM would answer?

Yeah but an AGM gives fans/shareholders to raise grievances and abuse the board face to face rather than from behind a keyboard.

I am not sure what the law is regarding the need for an AGM (or how this is affected by a company that only really has a few shareholders?)

[michael]

An AGM would have presented an opportunity to query, for example, that the Cash Liabilities have apparently gone up, but that isn't really any of our business :-)

[Batch]

I may be missing the point and being a bit thick (probably the latter) but do the accounts recently submitted showing a loss of 86k down from whatever they were not answer what a AGM would answer?

not really, no.

so that's not breakeven then.

it would be nice to ask some quess around this

[Talk Talk]

Well it all depends upon the articles of association and memorandum of understanding of Mr Power's company, doesn't it? Although I believe that the articles have now superceded the memorandum stuff. It might be written that they can have an "AGM" every twenty years for all I know. Or that just the directors, secretary and the two biggest shareholders should be present.

Si Pie will know and can probably look it up/find out

[Samdy Gray]

Articles for Swinton Reds 20 Limited

[Oaksey Moonraker]

I thought Power was a bit more open than he usually is. He explained that he has subsidised losses of £3m and £1.7m as the budgets have been pared down and is now looking to take some of that money back.

Can anyone blame him for that unless you believe in the Robin Hood approach to football ownership where wealthy owners throw millions of cash to make the 'poorer' supporters happy. Look how fans' owned Bournemouth took the Russian millions when offered.

I don't think Power is ever going to be transparent, you don't get to be an Irish (check his nationality on Companies House but he did play for the Republic U21s) Swiss based tax exile by being transparent.

I think Power believes there is an opportunity in the current game to make money by polishing up reject talented youngsters into Championship or Premier League quality. The difference is he makes the buy sell decisions rather than rely on a manager who might have a 12-18 month shelf life and has the contacts to pull it off. The training ground is part of that process.

What we don't know is what the end game or his exit strategy is. Imagine getting promoted might be an opportunity to sell up.

[Talk Talk]

Articles for Swinton Reds 20 Limited

Doesn't work Sam. Expired request apparently...

Can you pdf it?

[Samdy Gray]

Try this one

[tans]

Do you reckon they spelt the company name wrong and just couldnt be arsed to change it

[Talk Talk]

Try this one

Thanks Sam.

Well that clears that up then. One director and shareholder. The club is worth exactly one English pound of capital.

General meetings can be held as and when the director feels like it, no commitment to do this annually or ever.

Brilliant!

[suttonred]

Do you reckon they spelt the company name wrong and just couldnt be arsed to change it

I've always thought that as well. Bit like my mother in law who has 8 first names as her dad was pissed at the registrars and couldn't remember which way round they should be and did several variations and never crossed any out. Her passport is a mindfuck.

[Samdy Gray]

Thanks Sam.

Well that clears that up then. One director and shareholder. The club is worth exactly one English pound of capital.

General meetings can be held as and when the director feels like it, no commitment to do this annually or ever.

Brilliant!

Well, it's a bit more complicated than that actually.

Power is the sole shareholder of Swinton Reds 20 Ltd. Swinton Reds 20 Ltd own 100% of the share capital of Seebeck 87 Ltd (Jed's old company) which in turn owns 99.79% of the share capital of Swindon Town Football Company Ltd.

[Power to people]

Didn't Power say he would would be willing to hold an open meeting as long as it was within his time in the country, something like that would be good as it would give fans the right of reply when he dodges a question, as long as it was compared (sp?) by someone sensible that is able to keep control, like a Phil King or Shaun Hodgetts.

It would be good perhaps for the Trust to set something like this up.

[SuggWillSugg MBE]

The next one is tomorrow. 6-7pm.

BBC Wilts just tweeted.