Answers from Mariners Trust about board matters

Quoted from BlackandWhiteBarmy

So, if I understand the situation, the Trust gifted Mr. Fenty £200K of shares so as to achieve a level of involvement with the club without representation on the board, and that the new development is asking for £30K per annum to maintain that level of co-operative involvement and gain a seat on the board.

Firstly if the Trust wanted to gain a level of involvement to with THE CLUB why were the shares given to Mr. Fenty. Secondly, no indication has been given to exactly how much influence a seat on the board will have. Thirdly are you not just trying to buy co-operative involvement with the regime that has, to all effects and purposes, put the club in the position it is in at the present moment.

The Trust will be paying £30K a year for the priviledge of helping to run the club in exactly the same way it has been run for the last ten years. In this case I believe that Cure is actually better than Prevention

Quoted from BlackandWhiteBarmy

So, if I understand the situation, the Trust gifted Mr. Fenty £200K of shares so as to achieve a level of involvement with the club without representation on the board, and that the new development is asking for £30K per annum to maintain that level of co-operative involvement and gain a seat on the board.

Firstly if the Trust wanted to gain a level of involvement to with THE CLUB why were the shares given to Mr. Fenty. Secondly, no indication has been given to exactly how much influence a seat on the board will have. Thirdly are you not just trying to buy co-operative involvement with the regime that has, to all effects and purposes, put the club in the position it is in at the present moment.

The Trust will be paying £30K a year for the priviledge of helping to run the club in exactly the same way it has been run for the last ten years. In this case I believe that Cure is actually better than Prevention

Quoted from arryarryarry

So correct me if I'm wrong but the requirement to become a board member is to put in annually £50,000 p.a. or in the case of the Trust somewhere in the region of £30,000 p.a. but that doesn't apply to the current members of the board.

So in a few years time you could have paid in say £100,000 to the club and still be out voted by some who have paid in far less nothing.

It's no wonder there isn't a flock of people dashing to become a member of the board.

Quoted from Marinerz93

See correction  

Quoted from arryarryarry

So correct me if I'm wrong but the requirement to become a board member is to put in annually £50,000 p.a. or in the case of the Trust somewhere in the region of £30,000 p.a. but that doesn't apply to the current members of the board.

So in a few years time you could have paid in say £100,000 to the club and still be out voted by some who have paid in far less.

It's no wonder there isn't a flock of people dashing to become a member of the board.

Quoted from grimsby pete

All this talk about money made me think,

I wonder what Bolton Wanderers supporters think about their chairman,

The club owe him £126 million in benign loans.

Quoted from BlackBoots

Not sure were the £50k you state has come from? Someone posted last week about a new director having to match the average of the other directors loans/share holding. I make that something like £800K+!!!!! (makes it look like the Trust, representing the fans, have got a good deal! )

Surely once on the board the person can be voted out by the shareholders at the agm, not the other directors??

Quoted from psgmariner

How else would you have gone about gaining a seat on the Board? To gain a seat on the Board through a £30k donation and the transfer of some fairly worthless shares seems like a pretty good deal to me.

Once the Trust have representation at Board level they may finally begin to have some effect on how the club is run. At the moment their efforts have understandably been focused on raising cash.