E-Mail from the Trust

Quoted from Quagmire

Not trying to stir anything up, just a genuine question.

John Fenty has the potential to financially benefit from a decision that his own brother (and potentially other family members) can directly influence via his / their vote(s).

I think it's best someone looks into the legalities of this.

Don't know about MP's and conflicts of interest but several councillors had to abstain from the Great Coates stadium vote because there was supposedly a conflict of interest as they were Town fans.

John fenty has the potential to benefit  ? It's costing him another 200000 quid on top of the money he has already poured into the club think it would take a lot of football fortune for him to benefit just be grateful he is prepared to keep throwing money in and if a big if he is ever in a position to benefit from his investment who could blame him

All seems a bit confusing from the outside looking in. The trust want to give Fenty 200k of shares (we have 500k as a trust do we?) in return he'll pump in 200k of his own money into the club thus getting 400k at half price but pumping more money into the club for our security? Then what? Does he become Chairman again then? All seems like a good idea if this is the case.

Quoted from Rodley Mariner

I'm a member of the Trust but I don't think shrouding what is done in mystery is a positive thing. The Trust needs to be careful that it doesn't create an 'us and them' scenario - whilst non-members aren't entitled to vote, I do think they're entitled to know what's happening and to have an opinion. Alienating and excluding people completely won't persuade anybody to join up.

I agree.

I'm a trust member and have received the paperwork.

Saw 4 pages on this thread and expected to see an interesting debate.

Instead the proposal hasn't even been made public ! (not that I can see anyway)
I ask you, is this really the best way forward ?....

I'm personally unsure on the proposal (tbf think gymadman is probably right), but in any case I don't want to be slagged off for making it public and it would be nice to be in a postion to openly debate the issue and ask follow up questions before I vote.

Yes I can e-mail the trust but I always prefer everything to be in a public domain because I value the wider range of opinions of fishy posters and GTFC fans.

I actually was pleasantly suprised to read some good things coming from the trust but if they want membership to explode, they need to stop living in fear, jumping at shadows and be more open and share it.

Then again, I wonder if they want that ?
They've arguably missed another opportunity to engage interest and potentially boost membership by making it public before the vote.

tbh if the vote passes I'm already thinking there's a case for handing over any hypothetical remaining 13% of shares to JF.
If a similar situation is gonna crop up later (tbh from what I've read I see no reason why it might not), then stop wasting everyone's time (including GTST themselves) and get it over with !  

I am a fully paid up trust member for life.

Look forward to getting home tonight and reading my letter. But if it is as suggested a vote on gifting an element of our shareholding to John Fenty in return for him buying a further equivalent amount of shares, then I for one will be voting "YES".

John Fenty continues to work financial miracles for our club. He continues to throw money in which he knows he is never ever likely to see again. He really has been a diamond geezer for us on the financial front, and he is now getting the results he deserves for his efforts as far as football results are concerned.

There is no better man to have at our helm as far as I am concerned. He has been around a very expensive and torrid learning curve and there is now a light at the end of the tunnel that he deserves.

So if this is this the vote, then I will be voting a firm YES.

Oh and I am in no way related to John Fenty.

Cheers
Skeggy

Quoted from 1600

They've arguably missed another opportunity to engage interest and potentially boost membership by making it public before the vote.

No opportunities have been missed.  The vote deadline is not until March 5th and the ballot papers only started reaching members today.

So there's plenty of time for this to be placed officially in the public domain and to engage interest and potentially boost membership by making it public before the vote. Is there not?

Quoted from SkegFan

I am a fully paid up trust member for life.

Look forward to getting home tonight and reading my letter. But if it is as suggested a vote on gifting an element of our shareholding to John Fenty in return for him buying a further equivalent amount of shares, then I for one will be voting "YES".

John Fenty continues to work financial miracles for our club. He continues to throw money in which he knows he is never ever likely to see again. He really has been a diamond geezer for us on the financial front, and he is now getting the results he deserves for his efforts as far as football results are concerned.

There is no better man to have at our helm as far as I am concerned. He has been around a very expensive and torrid learning curve and there is now a light at the end of the tunnel that he deserves.

So if this is this the vote, then I will be voting a firm YES.

Oh and I am in no way related to John Fenty.

Cheers
Skeggy

And I'll second that.  Related that is!

Quoted from pontoonlew

All seems a bit confusing from the outside looking in. The trust want to give Fenty 200k of shares (we have 500k as a trust do we?) in return he'll pump in 200k of his own money into the club thus getting 400k at half price but pumping more money into the club for our security? Then what? Does he become Chairman again then? All seems like a good idea if this is the case.

The suggestion is that Hearn was likely to be sold unless the voting rights to 200,000 shares  were transferred from the Trust to JF so this happened. The vote is that 200,000 shares be transferred to JF from the Trust. He in turn will buy 200,000 more to fund the club until the end of May 2013. In return the Trust doesn't seem to get anything particularly solid: 'to be involved in on-going budget setting' whatever that means.

The thing is, what about post May 2013? This is pretty short term stuff we're talking about? How much of the losses will be covered by the Bennett money and (let's be honest) the likely sale of Hearn in the Summer? If JF is 'covering losses' in return, could these losses end up not amounting to much? In May 2013, will he want more shares? From the start of initial negotiations what concessions has Mr Fenty made if any or are these simply  his demands? Has the Trust board asked for a place on the Board of the Club in return for the shares?

Quoted from Rodley Mariner

The suggestion is that Hearn was likely to be sold unless the voting rights to 200,000 shares  were transferred from the Trust to JF so this happened. The vote is that 200,000 shares be transferred to JF from the Trust. He in turn will buy 200,000 more to fund the club until the end of May 2013. In return the Trust doesn't seem to get anything particularly solid: 'to be involved in on-going budget setting' whatever that means.

The thing is, what about post May 2013? This is pretty short term stuff we're talking about? How much of the losses will be covered by the Bennett money and (let's be honest) the likely sale of Hearn in the Summer? If JF is 'covering losses' in return, could these losses end up not amounting to much? In May 2013, will he want more shares? From the start of initial negotiations what concessions has Mr Fenty made if any or are these simply  his demands? Has the Trust board asked for a place on the Board of the Club in return for the shares?

This is My view and not the view of the Trusts.

If the Trust did not give up the voting rights to 200,000 shares then Liam Hearn would have been sold. If Hearn was sold then the Trust would have have received the blame and effectively killed the Trust. Since The Trust have pledged the voting rights to shares in favour of Mr Fenty, but the Trust still own the shares. Fenty is asking for the ownership of the shares the Trust gave him the voting rights to. In return he will invest a further 200k etc

whos the leader of the trust anyway. does he post on here?

Quoted from aaron rattray

whos the leader of the trust anyway. does he post on here?

Some homework for you, Aaron >> http://www.marinerstrust.co.uk/index.php/contactus