Shrimpers Trust News Shrimpers Trust AGM

[Murkey_Mouse]

You very sure of that? National League don’t differentiate between which staff not getting paid before unleashing sanctions which sounds like why the Trust tried to word the loan a certain way

If we you say is true sounds like we’d be in bother.

Don’t think so, it’s don’t help that we keep getting knocked out of cup matches at the first attempt in last 6 years.

 

[Chrisb]

Doesn't matter how you, Scott or others look at it, non playing staff were in serious predicaments with their own financial commitments. The money was loaned to Tom to help give them some breathing space.

As others have said, the NL doesn't differentiate between playing and non-playing staff so it wouldn't surprise me in the least now this is all out in the open, if a points deduction was incoming. The Trust money has not paid any playing staff wages.

You know, if certain people hadn't encroached on the pitch, let off flares and also persistently committed wilful damage, then the club wouldn't keep having to stump up money to pay fines and whatnot.

The Board of the Shrimpers Trust was called upon to make a decision. The decision was needed quickly, each of us had a chance to have our say and then to vote on it. That vote enabled us to loan Tom the money to TRY to help.

I so hope not.

 

[Neil_F]

Can the trust share a copy of the loan agreement please?

 

[RHB]

Can the trust share a copy of the loan agreement please?

Would you, if it was your loan deal with a bank?

 

[TrueBlue]

Would you, if it was your loan deal with a bank?

when it’s members money yes!

 

[Neil_F]

Would you, if it was your loan deal with a bank?

If I was lending someone else’s money and they asked for it, yes.

It isn’t unreasonable to ask what the terms of the loan are.

 

[jphfitz]

The terms of the loan have already been disclosed. Interest free, 3 months with penalty clauses. The trust are not going to risk breaching the agreement by sharing a copy.

 

[Holy Joe]

If I was lending someone else’s money and they asked for it, yes.

It isn’t unreasonable to ask what the terms of the loan are.

It's the trusts money.

Do you ask your bank for all the loan agreements they've made with your cash on deposit?

 

[TrueBlue]

It's the trusts money.

Do you ask your bank for all the loan agreements they've made with your cash on deposit?

ITS THE MEMBERS MONEY!!! ffs

 

[Neil_F]

The terms of the loan have already been disclosed. Interest free, 3 months with penalty clauses. The trust are not going to risk breaching the agreement by sharing a copy.

Thank you.

Genuine question - why a loan and not an equity investment?

 

[Holy Joe]

ITS THE MEMBERS MONEY!!! ffs

No the members have given the money to the trust. Members can't ask for that cash back.

 

[TrueBlue]

No the members have given the money to the trust. Members can't ask for that cash back.

Guess I was dreaming when in the past members who were not happy got their money back

 

[TrueBlue]

Anyway it’s done now we have to get on with it, just need to be on the same page next time

 

[Kat_r]

Call me all the names you want.

Could somebody explain this line, taken directly from a newspaper article.

Roots Hall Limited will then lease the new stadium and training ground to the football club

The company is run by Ron’s son amongst others.
What does this mean for the club?

the football club under who whoever owns it will be paying to use its stadium?

 

[jphfitz]

Thank you.

Genuine question - why a loan and not an equity investment?

Good question and I do not have the facts regarding loan vs equity investment. Would that have been your preference?

 

[Neil_F]

Good question and I do not have the facts regarding loan vs equity investment. Would that have been your preference?

Yes. I understand the immediate need for cash so a loan was always the starting point, but it could have been convertible to equity.

There is one downside - the Trust doesn’t get the money back - but the big upside it would force RM to value the club when pricing the equity. In reality, the Trust would have been in a strong position to dictate terms.

I have long been of the view the Trust use capital to build a shareholding and that individual shareholders should gift their shares to the Trust. A material shareholding would be leverage for the Trust.

Happy to discuss if helpful

 

[blues exile]

Martin has once again played a blinder. By remaining silent in the midst of a crisis he has been the lucky recipient of £80k as a windfall without having to say a word, Not to mention the Go Fund money. Whether these loans will ever be repaid is something for the lenders to worry about and as a bonus he has managed to cause a bit of friction between the different supporters groups. Machiavelli could have learnt a few lessons from him.

 

[Holy Joe]

Guess I was dreaming when in the past members who were not happy got their money back

Haven't heard about that - but let me rephrase my comment - members can ask for a refund of membership fees/other donations but (I assume) there is no obligation from the trust to do that. Different from a bank where obviously customers can ask for their money back, subject to the terms of the deposit

 

[NZamba Legend]

Call me all the names you want.

Could somebody explain this line, taken directly from a newspaper article.

Roots Hall Limited will then lease the new stadium and training ground to the football club

The company is run by Ron’s son amongst others.
What does this mean for the club?

the football club under who whoever owns it will be paying to use its stadium?

That’s the situation, yes. Ron might decide to waive rent but also he could quite conceivably sell the stadium and training pitches to another developer who wants to use the land for something more profitable which would leave the club homeless.

 

[TrueBlue]

Haven't heard about that - but let me rephrase my comment - members can ask for a refund of membership fees/other donations but (I assume) there is no obligation from the trust to do that. Different from a bank where obviously customers can ask for their money back, subject to the terms of the deposit

Don’t need to explain, I’m just irate about the whole SUFC situation and I’m flying off the handle too much over little things.