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Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 10:42 am  

bellycouldtackle wrote:

.........
looking on companies house you can see the last posted accounts of our proposed buyer show a turn over of £ 92 million, an operating profit of £ 25.64 million which after tax showed a net profit of £ 20.44 million. That's one successful and wealthy company. That would be plenty of due diligence for me !!!!

No one doubts that he has money.....or actually his business has money but he isn't actually he owner if you read those accounts.
But that money is also there to invest in the kitchen business.
Who's to say its going to be spent on Trinity or that he knows what to spend the money on?

That is what due diligence process is there to find out.

Note: my only credit of being in the know, is that I was at the Shareholder meeting.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 11:40 am  

If he wants to guarantee his continuing involvement he can take over the club, but it is pretty obvious he lacks the finances to do so. He could which happens quite often negotiate with a new owner to stay in situ for a period after the takeover.
The problem is we have one motivated seller plus a club in need of a motivated buyer with the finances necessary and one who wants to stay in place. We cannot go on the way we are because with or without relegation the club has been starved of cash for many years.
I am sorry but at the end of the day the club’s survival is bigger than any one individual. I would point out he is not the majority shareholder so I suppose he could be out voted by the others because it will come to this at some point, hopefully soon.

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Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 12:10 pm  

Scarlet Pimpernell wrote:

If he wants to guarantee his continuing involvement he can take over the club, but it is pretty obvious he lacks the finances to do so. He could which happens quite often negotiate with a new owner to stay in situ for a period after the takeover.
The problem is we have one motivated seller plus a club in need of a motivated buyer with the finances necessary and one who wants to stay in place. We cannot go on the way we are because with or without relegation the club has been starved of cash for many years.
I am sorry but at the end of the day the club’s survival is bigger than any one individual. I would point out he is not the majority shareholder so I suppose he could be out voted by the others because it will come to this at some point, hopefully soon.

That's not true.
No one who 'wants' to stay in place at all.

All shareholders have said multiple times they will sell their shares for nothing and not call in their loan.

It is other people who are saying Minards should stay and he has said he would,maybe, in some capacity, if Ellis wanted him to.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 12:40 pm  

PopTart wrote:

That's not true.
No one who 'wants' to stay in place at all.

All shareholders have said multiple times they will sell their shares for nothing and not call in their loan.

It is other people who are saying Minards should stay and he has said he would,maybe, in some capacity, if Ellis wanted him to.

If it is some supporters who think he should stay then fine because it would not be in their gift to do so. I guess time will tell if they get their wish.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 12:55 pm  

Scarlet Pimpernell wrote:

If it is some supporters who think he should stay then fine because it would not be in their gift to do so. I guess time will tell if they get their wish.

Just out of a matter of interest…
If Matt Ellis decides he wants a clean slate and bring a fresh team in(which could be a good thing) who do you think would be a good fit for the positions…?

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 1:10 pm  

Belle Vue wrote:

Just out of a matter of interest…
If Matt Ellis decides he wants a clean slate and bring a fresh team in(which could be a good thing) who do you think would be a good fit for the positions…?

I think Matt Ellis could run rings around everyone on this forum in business matters, his track record proved that. Therefore I would be happy with anyone he decides to bring in.
AS for John Minards, the guy has done his shift for the club and like Micheal Carter he should move on.

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Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 1:38 pm  

Prince Buster wrote:

I think Matt Ellis could run rings around everyone on this forum in business matters, his track record proved that. Therefore I would be happy with anyone he decides to bring in.
AS for John Minards, the guy has done his shift for the club and like Micheal Carter he should move on.

You could say the same about Glover, Ted, Pearman and the rest. All were better businessmen than me but all left the club in dire straits.

Being able to run your own business is not the same as running a rugby club.

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Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 1:40 pm  

Scarlet Pimpernell wrote:

If it is some supporters who think he should stay then fine because it would not be in their gift to do so. I guess time will tell if they get their wish.

Just to be clear. No IF.
Anyone at the meeting will tell you how it is.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 1:46 pm  

PopTart wrote:

Just to be clear. No IF.
Anyone at the meeting will tell you how it is.

Stockholm Syndrome ?

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Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 1:54 pm  

bellycouldtackle wrote:

Stockholm Syndrome ?

Just reporting what was said. If you want to believe the world is flat you are free to do so.