Trust shares?

For all those like pizzza harbouring a pathological issue about the Trust shares, you will be keen to know that a similar vote will need to take place as part of the takeover. The consortium will be bound to make an offer to all shareholders for the purchase of their shares, and according to the Trust’s recent board minutes, the decision to sell all, some or none of the current shareholding will be put to the members.

Memberships can be purchased from the usual outlets, enjoy having a say!

I'm surprised that this thread is still going...

There's lots of 'Fenty should do the right/honourable/decent thing'

Have you learned nothing about Fenty in the last few months? He will only do what is right for John Fenty. He wouldn't know what the right/honourable/decent thing was if it smacked him in the mouth.

Those shares will be sold as part of the takeover and the money will go into John Fenty's pocket.

It was not a democratic process when there was cohesion as to the outcome of the vote.  (The threat to sell Hearn - which no one knew was serious or not).

Agree this ship has long since sailed. We have far more pressing issues to worry about).

Quoted from TownSNAFU5

It was not a democratic process when there was cohesion as to the outcome of the vote.  (The threat to sell Hearn - which no one knew was serious or not).

Agree this ship has long since sailed. We have far more pressing issues to worry about).

The safest response to a threat like that is to call the bluff of the person concerned. Don't worry about short-term issues. Think of the longer game. Promotion or relegation is a short-term matter when it comes to questions of ownership. That decision was driven by short-termism, it several more years to get promotion anyway, and we probably wouldn't be in this mess now if the people taking the decision had faced down the threat.

Same now. If you are worried about not rocking the boat when we're facing relegation, then I'd suggest the focus is too short-term and too late in any case.

Quoted from TownSNAFU5

It was not a democratic process when there was cohesion as to the outcome of the vote.  (The threat to sell Hearn - which no one knew was serious or not).

Agree this ship has long since sailed. We have far more pressing issues to worry about).

See also, every single democratic vote in modern history.  

If all democratic votes were done purely on facts alone, with no scare-mongering or smear tactics or even lies, it would be a wonderful world.  Alas, this isn't the case.

Fenty, as dirty as it was, played a blinder.  He held a gun to the head of the voters, some of whom were scared enough by the threat.   It sums him up when he claims he's a fan yet happily played this game.

I agree too, it's done and dusted.  It's absolutely shite that's he's going to walk away with something for nothing.  But in all honesty, I would much rather accept this fate begrudgingly than see it hold up his removal from the club.

What is the benefit to the club, or the trust of John Fenty giving those shares back to the Trust?

Does the Trust have the additional wealth to then support the club in a way financially that owning such a large % of the issued share capital warrants?

Does the Trust have the financial wealth to even meet the tax liability it would incur from a gift of shares of that size and value?

But here is the big question you should all be asking yourself ....

If John Fenty gifted those shares back to the Mariners Trust, would the new consortium even want to complete the sale of his other shares? Don’t the consortium want all of John Fenty’s shares? Why would the consortium want to buy his shares minus the element that was once the Trusts? Why would the consortium want any other very big shareholder in their new business? Especially as they intend to move forward with multi million £ investments in stadiums and regeneration that the Trust couldn’t possibly ever consider investing in, pro-rata to the extent of its shareholding

People really have to think about these things carefully. There’s far more to it at stake than what you believe is the moral obligations of either the Trust or John Fenty here. You have to see the bigger picture

There will come a time, soon after the Consortium takeover, depending on whether the share purchase is made by a company they set up, or as individuals; that the Consortium will be duty bound to offer to take on everybody else’s shares. That’s yours and mine, and the Trusts. But, if JF’s shares are purchased by three individually, then that rule won’t apply, since neither of them will hold a majority stake in the business.

It looks like the Trust will putting to vote on selling a small portion of their shares to the consortium which personally I don't agree with.

It would be great if Fenty acknowledged these were a gift and paid back the £200k in cash so the new board got the shares and the Trust got £200k less tax to spend on things that improve the experience for us fans.

Whichever way you look at it, £200k is going to do the club more good in the playing budget than in Fenty's pocket.

Quoted from jamesgtfc

It looks like the Trust will putting to vote on selling a small portion of their shares to the consortium which personally I don't agree with.

Not necessarily. If the consortium are buying JF’s shares individually, then none of the three will hold a majority and so nobody then had to commit to offering to purchase the remaining shares elsewhere in the business

But yes they do have to make that offer, if it’s not the three individuals purchasing JF’s shares but a company they own as a collective. In which case that company would then have to offer to buy everyone else’s shares

Here is another thing.

If the consortium buy the shares through a business they jointly own, let’s call it Newco. Then the shares in GTFC are owned by Newco, and not directly by Stockwood, Schutes and Pettit.

Those three may not even decide to have places on the board. But if they did, then they would be directors without any personal direct shareholding in the business. Their shares are in Newco which owns shares in GTFC.

You may find that that neither of them decide to become board members, and that they decide to appoint a director to represent them such as this Palmer bloke they appear to be bringing in