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Author Topic: Morfuni investing heavily in STFC  (Read 13069 times)
pauld

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« Reply #60 on: Wednesday, July 24, 2019, 13:02:45 »

Good shout.

As long as Mr. D asks about Philcam
Cheesy Batch is our designated Morfuni liaison, they're bessies
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tans
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« Reply #61 on: Wednesday, August 14, 2019, 15:49:33 »

On another note Stephen crouch resigned as a director of Swinton Reds today. Not sure what that means, if anything
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Nomoreheroes
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« Reply #62 on: Wednesday, August 14, 2019, 16:00:45 »

On another note Stephen crouch resigned as a director of Swinton Reds today. Not sure what that means, if anything
Get the Adver to find out.
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phelpsieboy

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« Reply #63 on: Wednesday, August 14, 2019, 16:18:01 »

Get the Adver to find out.
Shaun Reynolds did say the other day that Clem is currently back in the country.
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Costanza

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« Reply #64 on: Wednesday, August 14, 2019, 16:31:03 »

Clem was in SN1 on Saturday.
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pauld

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« Reply #65 on: Wednesday, August 14, 2019, 17:04:22 »

Get the Adver to find out.
Get Batch to find out!
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Flashheart

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« Reply #66 on: Wednesday, August 14, 2019, 17:06:22 »

Get on it Batch, you are bessies after all.
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« Reply #67 on: Wednesday, August 14, 2019, 17:38:59 »

I met him once for 30 minutes.

naturally he's on speed dial Smiley

(I'll post if I hear, but if imagine there's several on here with better HP than me)
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Reg Smeeton
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« Reply #68 on: Wednesday, August 14, 2019, 17:46:28 »

On another note Stephen crouch resigned as a director of Swinton Reds today. Not sure what that means, if anything

Now there's a name.... he was mentioned yonks ago, as a fella who had some serious wonga, but then it went quiet.  Out of Brighton had co founded an accountancy firm, which had done well.

Did he ever get involved  Hmmm
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horlock07

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« Reply #69 on: Thursday, August 15, 2019, 08:46:17 »

Now there's a name.... he was mentioned yonks ago, as a fella who had some serious wonga, but then it went quiet.  Out of Brighton had co founded an accountancy firm, which had done well.

Did he ever get involved  Hmmm

With hindsight I suspect he mainly just provided the accountancy services to set up and manage the company, which since incorporation seems to be a dormant company acting as Agent for Power with only Power holding shares in it, I note that earlier this year 99 additional shares were created taking Powers holding as sole shareholder from 1 to 100 shares, no idea why that was done but I am not an accountant. 
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Flashheart

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« Reply #70 on: Thursday, August 15, 2019, 08:55:36 »

I note that earlier this year 99 additional shares were created taking Powers holding as sole shareholder from 1 to 100 shares, no idea why that was done but I am not an accountant. 

To sell some, perhaps?
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horlock07

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« Reply #71 on: Thursday, August 15, 2019, 08:59:55 »

To sell some, perhaps?

Would be a possibility I s'pose, and possibly then reneging would be the spur for the Crouch departure (complete conjecture on my part!)

What is the ultimate hierarchy of ownership, is it

Swinton Reds own Seebeck 87 who own STFC Ltd?
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Red Frog
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« Reply #72 on: Thursday, August 15, 2019, 10:00:33 »

Would be a possibility I s'pose, and possibly then reneging would be the spur for the Crouch departure (complete conjecture on my part!)

What is the ultimate hierarchy of ownership, is it

Swinton Reds own Seebeck 87 who own STFC Ltd?

When I was in town at the weekend, I was told that Morfuni had started investing on the understanding that he would take a shareholding, but that Power wasn't prepared to relinquish any shares and that both Morfuni's further investment, and plans for the joint ground purchase with the Trust, were currently in abeyance. Power apparently doesn't want other shareholders, only a full sale at, one assumes, a profit, which will be hard to achieve unless and until we move up at least one division.

So, possibly deadlock on all fronts for the time being.
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stfcjack

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« Reply #73 on: Thursday, August 15, 2019, 10:11:53 »

When I was in town at the weekend, I was told that Morfuni had started investing on the understanding that he would take a shareholding, but that Power wasn't prepared to relinquish any shares and that both Morfuni's further investment, and plans for the joint ground purchase with the Trust, were currently in abeyance. Power apparently doesn't want other shareholders, only a full sale at, one assumes, a profit, which will be hard to achieve unless and until we move up at least one division.

So, possibly deadlock on all fronts for the time being.

That worries me slightly
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horlock07

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« Reply #74 on: Thursday, August 15, 2019, 10:44:07 »

When I was in town at the weekend, I was told that Morfuni had started investing on the understanding that he would take a shareholding, but that Power wasn't prepared to relinquish any shares and that both Morfuni's further investment, and plans for the joint ground purchase with the Trust, were currently in abeyance. Power apparently doesn't want other shareholders, only a full sale at, one assumes, a profit, which will be hard to achieve unless and until we move up at least one division.

So, possibly deadlock on all fronts for the time being.

It sounds plausible, what never ceases to amaze me (And it seems to happen at clubs all over the country) is people prepared to invest cash without getting any form of written assurance for their investment, all sounding rather like what happened when Power invested worryingly.
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