Re: AGM/EGM tonight : Wed Jan 05, 2011 12:45 pm  

like kinlycat says gimme some good answers and i,m in too

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:47 pm  

charlie wrote:

So if we raise the 500k and the BOD steps down, who is going to run the club?

A new Board of Directors elected from the new shareholders.

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:48 pm  

were the investors named?

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:49 pm  

kinleycat wrote:

were the investors named?

The clubs sponsor were one.

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:50 pm  

Were minutes taken and will these be made available to shareholders unable to attend?

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:57 pm  

Khlav Kalash wrote:

The clubs sponsor were one.

and the other?

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:58 pm  

It may be the case that Rod Findlay was the in-house solicitor at the RFL when the criteria for Super League Licences was finalised.He left the RFL to be chief executive at Gateshead where the club was liquidated and relegated.He then set up a new company and was joint-owner and shareholder from where he has 'butterflied' to Crusaders after his new club finished the season on minus points.( I think the criteria also changed,in the meantime, to accommodate the 'bankruptcy' rule so Crusaders can remain in Super League.)

I was under the impression that Crusaders owed the RFL 700k.( Presumably for Steve Ferres et.al from the RFL to locate new investment when Crusaders/Leighton Samuels needed help when they were at Bridgend and possible for paying wages of 2 coaches no longer at Crusaders,Noble and Sharpe etc.)
If there has now been an agreement for Crusaders to take 10 years to repay the RFL then that would just continue the smoke and mirrors and dog dinners all of this has become.

Good luck.You will all need to be together to be stronger.

Re: AGM/EGM tonight : Wed Jan 05, 2011 12:59 pm  

charlie wrote:

So if we raise the 500k and the BOD steps down, who is going to run the club?

I imagine it would be run by a supporters trust or something similar, which may also have the side effect of making the club even less attractive to a potential new owner; who wants to run a business with 500 busybody amateurs sticking their noses in to every decision?

I'd be interested in the investment, but the drip-drip of information on an internet forum, coupled with a deafening silence from the club itself, reeks of the usual amateurish WTW way; hardly an inducement for me, or anyone else, to dust off the old cheque book.

Re: AGM/EGM tonight : Wed Jan 05, 2011 1:04 pm  

kinleycat wrote:

thanks TRB very informative.
What is the significance of £500k?
Would ALL the money go into the club?
Would ALL the directors leave unconditionally?
Would any new investors inherit any debt and if so how much?
If there is debt is this what may have put off other potential investors?
If we were to go into admin, would that make us debt free (or reduced) would we be still favoured as the crusaders seem to be, and a better investment to investors?
Are the other investors available to "the supporters trust" for discussion?
What do you believe is the likelihood of us raising either the amount of £, or the amount of investors?
Is there a compromise, on either the £valuation or the make up of how/Where the cash comes from?
Will someone, figurehead this process, and keep the masses informed?
Sorry for all the questions, but they will need answering before anyone is daft enough to hand over their cash.
Lots of good answers and im in.

Some very pertinent questions which indeed do need answering. To try and answer as many questions as I can from what I heard last night:

All the money would go into the Club
All the Directors would resign (and become supporters of the Club just like us)
New investors would not inherit the clubs debts on a personal level, the Clum is a Limited liability Company.
I dont think the debts are that great (don't know figures but we were led to believe they were small compared with some clubs - £8m) and I don't think the debt put off investors but more the uncertainty with the franchise.
Administration would remove debts but in my opinion we would not be treated like Crusaders and would more than likely be relegated/fail with the franchise bid.

I believe there will be investors who will invest substantially more than the £1,000 so we will not need 500 @ £1,000 but the more investors the better.

Ted and the Board want out and this gives all those who would like to see him go an opportunity to see a new BOD but it needs people to put their money where their mouths are.

I personally would like the see some form of incentive given to new shareholders to enourage the purchase of shares. Not thought it through yet but say for an investment of £1,000 you be given in addition to your 1000 shares say a season ticket at Newmarket for a period of time so that you feel that you are getting something tangible as well as shares.

Re: AGM/EGM tonight : Wed Jan 05, 2011 1:12 pm  

Sandal Cat wrote:

Some very pertinent questions which indeed do need answering. To try and answer as many questions as I can from what I heard last night:

All the money would go into the Club
All the Directors would resign (and become supporters of the Club just like us)
New investors would not inherit the clubs debts on a personal level, the Clum is a Limited liability Company.
I dont think the debts are that great (don't know figures but we were led to believe they were small compared with some clubs - £8m) and I don't think the debt put off investors but more the uncertainty with the franchise.
Administration would remove debts but in my opinion we would not be treated like Crusaders and would more than likely be relegated/fail with the franchise bid.

I believe there will be investors who will invest substantially more than the £1,000 so we will not need 500 @ £1,000 but the more investors the better.

Ted and the Board want out and this gives all those who would like to see him go an opportunity to see a new BOD but it needs people to put their money where their mouths are.

I personally would like the see some form of incentive given to new shareholders to enourage the purchase of shares. Not thought it through yet but say for an investment of £1,000 you be given in addition to your 1000 shares say a season ticket at Newmarket for a period of time so that you feel that you are getting something tangible as well as shares.

So how does Ted and the crew get their money back for the value of their shares ? or do they just say thats it, you can have them for free, Or is the money for the share issue to actually pay Ted off