Pages: 1 ... 62 63 64 [65]   Go Down
Print
Author Topic: Trust look to buy the CG  (Read 105155 times)
suttonred


+25/-8
Offline Offline

Posts: 11664





Ignore
« Reply #960 on: Friday, March 15, 2019, 22:12:35 »

Must be informative. Not a peep. That or they are monged up doing ooops upside your head.
Logged
Batch
Thingie


+135/-51
Offline Offline

Posts: 39280





Ignore
« Reply #961 on: Friday, March 15, 2019, 23:06:50 »

so the outline is this:

council as we know yet to approve the sale (no hint of worry on that)

they need 2300b people minimum to sign up to community share

minimum price of share is 19.69. obviously they need 1.1M so there will be a reward program for various amounts, e.g. if you put in 100b you get... - the details of what and the amounts are in progress

realise that it's frustrating not to get all the information about negotiations now, but it's a living negotiation and more information will be forthcoming soon.
Logged
Batch
Thingie


+135/-51
Offline Offline

Posts: 39280





Ignore
« Reply #962 on: Friday, March 15, 2019, 23:13:00 »

there are confirmed backers ready to give fund s head start.

the LLP (limited liability partnership,?) will consist of an independent chair, two senior club officials and two elected representatives from engagement board

engagement board: 2 community share holders reps, 2 from supporters groups, SBC, FITC and ex players
Logged
Batch
Thingie


+135/-51
Offline Offline

Posts: 39280





Ignore
« Reply #963 on: Friday, March 15, 2019, 23:18:20 »

couple of other things I remember.

the amount you invest still only gets you 1 community share

the trust will be under 'asset lock' rules if anything happened like becoming insolvent, i.e. the share of the county ground couldn't be flogged of for gain - however I'm sure I'm not 100% on this so wait for the trust to release proper details.
----
all in all a brilliant night, attended by burrows, butler, Trollope and the Don. they must have been signing autographs for over 90 minutes!

also meet Clem Montifs before briefly. Actually seems like a decent bloke. Mytton also spoke very highly of him.
Logged
Combe Up


+4/-18
Offline Offline

Posts: 114




Ignore
« Reply #964 on: Friday, March 15, 2019, 23:47:14 »

Band were called "Back to Back". They did "Summer of '69". What a wonderful evening. Nostalgia and positively for the future. The right mix. Thanks to all who put this together. I hope none of you found better things to do tonight. Here's my 19.69 guys and I will be spreading the word to others.
Logged
JanAirplaneMan


+4/-2
Offline Offline

Posts: 19





Ignore
« Reply #965 on: Friday, March 15, 2019, 23:53:32 »

Glad you all enjoyed it .. we tried hard to get the balance right and tell you all what we know and what next steps are. A great evening and thanks for coming along of you did .. Wink
Logged
suttonred


+25/-8
Offline Offline

Posts: 11664





Ignore
« Reply #966 on: Saturday, March 16, 2019, 00:38:02 »

there are confirmed backers ready to give fund s head start.

the LLP (limited liability partnership,?) will consist of an independent chair, two senior club officials and two elected representatives from engagement board

engagement board: 2 community share holders reps, 2 from supporters groups, SBC, FITC and ex players

I'm interested in the bit about the in the community shareholders appointed. I'd like to see genuine (sensible) fans appointed, not personally/under the carpet backed, or with well funded lackeys (which is what normally happens in this type of enterprise in my experience) . If that is on the table, and not just a status quo jobs for the boys board. That would go a long way in my eyes for convincing me there might be some genuine change happening.
Logged
Batch
Thingie


+135/-51
Offline Offline

Posts: 39280





Ignore
« Reply #967 on: Saturday, March 16, 2019, 08:31:25 »

I've probably not explained it right Sutton.

personally I wouldn't have a problem with say a James Phipps type appointed.
Logged
tans
You spin me right round baby right round


+23/-34
Offline Offline

Posts: 19149





Ignore
« Reply #968 on: Saturday, March 16, 2019, 08:38:10 »

They asked me whether i would do it due to my media background, unfortunately i had to decline
Logged
ronnie21


+16/-9
Online Online

Posts: 5930

The Mighty Hankerton




Ignore
« Reply #969 on: Saturday, March 16, 2019, 11:34:36 »

I didn't go but thanks for the limited heads-up.  I heard the entertainment was to be Rocking Robin and his pathetic haka.  Seems like you were spared that until today!
Logged
Power to people


+5/-6
Offline Offline

Posts: 5437





Ignore
« Reply #970 on: Monday, March 18, 2019, 13:18:39 »

there are confirmed backers ready to give fund s head start.

the LLP (limited liability partnership,?) will consist of an independent chair, two senior club officials and two elected representatives from engagement board

engagement board: 2 community share holders reps, 2 from supporters groups, SBC, FITC and ex players

Can any that was there explain what these 2 groups are

LLP & engagement board and what they will do  / be in charge of
Logged
RobertT


+53/-28
Offline Offline

Posts: 6631




Ignore
« Reply #971 on: Monday, March 18, 2019, 15:32:23 »

LLP - Limited Liability Partnership would be the ownership mechanism for the ground, ensuring that that each has a limited exposure to the others financial position.  If the club goes tits up the fans wouldn't have to cover off their debts for example.  You are only exposed by the investment you yourself have into the business.

The other aspect looks like the way the fans would ensure representation to provide input to the two who sit on the Board for the LLP.  You can't have every day to to day decision being taken to a vote of the entire membership/shareholders.
Logged
Power to people


+5/-6
Offline Offline

Posts: 5437





Ignore
« Reply #972 on: Tuesday, March 19, 2019, 13:07:52 »

LLP - Limited Liability Partnership would be the ownership mechanism for the ground, ensuring that that each has a limited exposure to the others financial position.  If the club goes tits up the fans wouldn't have to cover off their debts for example.  You are only exposed by the investment you yourself have into the business.

The other aspect looks like the way the fans would ensure representation to provide input to the two who sit on the Board for the LLP.  You can't have every day to to day decision being taken to a vote of the entire membership/shareholders.

Thanks Rob makes sense now
Logged
Pages: 1 ... 62 63 64 [65]   Go Up
Print
Jump to: