I received my shareholder letter this morning and it says not much more than the official statement. I am reluctant to contribute £1000 to then have to travel outside of the district to watch Trinity. My understanding and I'm not a financial bod is that they owe £350k to all and sundry and they want £500 to stay afload the current BOD will resign but still want to be considered for the new board.

Not so under a Supporters Trust!

Where do you get that from ? I'm a shareholder and I have no idea (yet) what the debt stands at. Knowing the level of debt is vital as it will dictate future actions.

SC

this is the bit thats doing my head in, why dont shareholders know what the current debt is and more importantly who to and what period it covers??



how on earth new shareholders are expected to come forward when existing ones are being kept in the darfk is beyond me, god a simple document like that you could run up in minutes why has it aready taken nearly a week, if its coming at all?

Election of the new BoD will be up to the shareholders. While Ted and some others are unlikely to be re-elected, it may be that individuals such a James Elston or Francis Stephenson are people that would be acceptable to those voting in the new structure.



It also makes sense for there to be some sort of continued presence so that the new BoD can properly establish why certain decisions were made rather than simply try to make a best guess from the minutes of previous meetings.

Exactly, the questions must be answered. If the BoD do not reveal all the facts this share offer has failed before it starts.



But remember the cash is held in Escrow until those new investors decide what to do with it. I will put in a grand and I'm sure that before any money is put into the Club we will insist on seeing the full picture. If the investment does not clear the debt and make the Club solvent again and there are further debts stacked up that cannot be serviced then it should be held and the Club placed in Administration. The funds can then be used to buy the Club from the Administrator and re-capitilise it to continue. Who knows a "sugar daddy" may be interested if he can buy it for a song.



There are lots of ifs and buts though and I think we all want one thing - The survival of Wakefield Trinity.

Sandal Cat said: "[iBut remember the cash is held in Escrow until those new investors decide what to do with it[/i"



This is at odds with what my shareholders letter (which arrived this morning) says - the letter makes it clear that "[iif this limit (£500k) is reached, then shares will be issued to each applicant for the money donated[/i". That doesn't look to me like the people who "donate" are going to get much say in how the money is used.



Another point the letter raised - the money Sir RW paid to see off the taxman at the end of last year was a [iloan[/i, not a gift. So whatever amount he lent us also needs repaying.



How do you think Sir Rodders would feel if we went into administration and wiped this amount from our liabilities?

to be honest that thickens the plot rather than clarifies it, anyone able to scan a copy of letter please?

The letter is for shareholders only not for the eyes of ordinary supporters!

silly me!

im not getting the hang of this am i?

Were you at the shareholders meeting ? I thought if the £500k was reached there would be a meeting of shareholders and the matter would be decided by shareholders.



I will not invest a penny if all it does is pay off current debts and we still are heavily in debt and more than likely will go bust anyway. That way all I have done is pay the Taxman and Sir W and lost my money - not for me. If however its as I thought I heard at the meeting I'm in.



If we are unable to pay the tax bill and are wound up Sir RW will have to whistle for his money like HMRC and the rest of us.

You can read it for a grand