Trin Inviting Investment

[Griff]

3 hours ago, Les Tonks Sidestep said:

Don't you also have a 'special resolution' to approve any change to a company's 'share structure' and file the 'passing' of that resolution with Companies House?

Sure.  Maybe that happened - or will happen.  Who knows?

[Griff]

2 hours ago, Smudger06 said:

Yeah but you go on to say that you are a member for life or until the company goes bust or something along those lines, but you can transmit shares through say inheritance and transfer shares through an instrument of transfer. Super League itself, the members are not members for life or until the company goes bust. 

Basically you can be a member of a Club, like a members club where you have a strong affinity with other members and some perks like discounts on tickets and what not or you can be a member (owner / shareholder) of a corporation....Trinity are blurring the lines somewhat here I.e its a bit shady to say the least. There is little to no point whatsoever in owning a company when you can't a) have a say (vote) and b) potentially reap a fair 'share' in some benefits / rewards so to me Trinity are taking their supporters for mugs in this one. 

It seems pointless printing out the share certificates, literally not worth the paper they are written on. 

True - you can sell on the shares, though I'm pretty sure there's not much of a market for them.

The rest of your post seems to be redefining the Companies Act definition of "member" to something like a posh supporters' club.

[Griff]

50 minutes ago, headtackle said:

You can have different classes of share with different voting rights and ranking differently for dividends.  As you say all depends on the Articles of Association 

You can.  I didn't say you couldn't.  But they're still members.

[Agbrigg]

2 hours ago, Smudger06 said:

Yeah but you go on to say that you are a member for life or until the company goes bust or something along those lines, but you can transmit shares through say inheritance and transfer shares through an instrument of transfer. Super League itself, the members are not members for life or until the company goes bust. 

Basically you can be a member of a Club, like a members club where you have a strong affinity with other members and some perks like discounts on tickets and what not or you can be a member (owner / shareholder) of a corporation....Trinity are blurring the lines somewhat here I.e its a bit shady to say the least. There is little to no point whatsoever in owning a company when you can't a) have a say (vote) and b) potentially reap a fair 'share' in some benefits / rewards so to me Trinity are taking their supporters for mugs in this one. 

It seems pointless printing out the share certificates, literally not worth the paper they are written on. 

Correct they are not shares but some people will happily part with their money knowing that full well. For starters if they were this would be a share offer open to the public .To launch such a share offer needs mountains of work and cash, for starters there would need to be a detailed and independently verified financial prospectus. Like you and others have said ,a type of members scheme is what it should be called.

[Morris Wanchuk]

It reads to me that you can stump up £500 or a &1000 & get a few benefits & feel nice & warm that you’ve contributed to your club or if you’ve got (and lets be honest) a fair wedge to drop in, you can sit at the top table & have a few scraps & feel even warmer.

i just love that folk get their knickers in a twist over these things when for the majority it’s not their knickers that’s been twisted.

 

[sweaty craiq]

17 minutes ago, Morris Wanchuk said:

It reads to me that you can stump up £500 or a &1000 & get a few benefits & feel nice & warm that you’ve contributed to your club or if you’ve got (and lets be honest) a fair wedge to drop in, you can sit at the top table & have a few scraps & feel even warmer.

i just love that folk get their knickers in a twist over these things when for the majority it’s not their knickers that’s been twisted.

 

Think you’ve missed the point and Wakey an opportunity. A share option is a great way to raise funds should the existing shareholders not be able/decline to put more money in. This seems a way for existing shareholders to use other peoples money to improve an asset they own without diluting their stake.

Same as a bucket collection 

[Morris Wanchuk]

30 minutes ago, sweaty craiq said:

Think you’ve missed the point and Wakey an opportunity. A share option is a great way to raise funds should the existing shareholders not be able/decline to put more money in. This seems a way for existing shareholders to use other peoples money to improve an asset they own without diluting their stake.

Same as a bucket collection 

No mate i get what you are saying it’s just i got the impression some were gonna call in the fraud squad! 
I could just as easily hand over £500 at the club Shop but here  i get to attend a few meaningless annual AGM’s. 
it is what it is, could have been done differently & probably better. 

 

[headtackle]

2 hours ago, Griff said:

You can.  I didn't say you couldn't.  But they're still members.

Calm down I was agreeing with you

 

[Griff]

On 02/12/2022 at 14:59, sweaty craiq said:

You join a Gym you pay a membership fee to use that Gym. You join a RL club as a member you get access to games and a few perks. In both cases when you stop paying you lose membership - you have lost me completely.

Craiq, perhaps unwittingly, hit the nail on the head.  When you join a gym, you don't expect your sub to entitle you to attend the AGM or receive dividends or receive copies of the accounts.

Conversely, when you buy shares in a company, you don't need to renew your sub every year.  And there's the problem for the small shareholder in the rugby league club.  Once you've paid, the club loses interest in you as they only see you as negative cash flow - potentially, for ever.

Edited December 3, 2022 by Griff

[Les Tonks Sidestep]

4 hours ago, Griff said:

Sure.  Maybe that happened - or will happen.  Who knows?

15 days to notify the passing of the 'special resolution'..... tick tock

[Griff]

6 minutes ago, Les Tonks Sidestep said:

15 days to notify the passing of the 'special resolution'..... tick tock

We'll see, Les.

I could name another club which issued fancy "share certificates" in exchange for an "investment".   Never registered at Companies House, never showed on their accounts, turned out to be merely an expensive piece of paper.  The level of non-compliance with company law - not just for rugby league clubs but throughout commerce in general - is absolutely shocking.  No point in making laws if no-one is going to police them.

Edited December 3, 2022 by Griff

[JohnM]

This whole thing demonstrates one thing. It's not just Leigh that gets criticised on here, so they should no longer feel alone.

[Morris Wanchuk]

4 hours ago, JohnM said:

This whole thing demonstrates one thing. It's not just Leigh that gets criticised on here, so they should no longer feel alone.

Spot on mate, Leigh, Wakey or sometimes Fev. Can’t do owt for doing wrong! 

[sweaty craiq]

8 hours ago, JohnM said:

This whole thing demonstrates one thing. It's not just Leigh that gets criticised on here, so they should no longer feel alone.

Our stock is in this week, pop round to see what your next kit will look like

[Fevrover]

5 hours ago, Morris Wanchuk said:

Spot on mate, Leigh, Wakey or sometimes Fev. Can’t do owt for doing wrong! 

Can't do RIGHT for doing wrong.

[JohnM]

4 hours ago, sweaty craiq said:

Our stock is in this week, pop round to see what your next kit will look like

Unfortunately, my travel insurance excludes Leigh as too risky.

[sweaty craiq]

51 minutes ago, JohnM said:

Unfortunately, my travel insurance excludes Leigh as too risky.

Translated as we refused your visa application

[JohnM]

And interpreted as" we've enough oligarchs in Leigh already."

[sweaty craiq]

59 minutes ago, JohnM said:

And interpreted as" we've enough oligarchs in Leigh already."

Have you found a way of converting dripping to crude

[fighting irish]

I've often wondered why, when an opportunity like this comes along, the supporters club don't try to raise the funds to buy a block of voting shares.

That would make the Annual General meetings a bit more interesting wouldn't it?

They might be inclined to speak and act more responsibly then, rather than just whining and moaning all the time.

I also don't understand why the club wouldn't issue (sell) shares, with voting and dividend rights to their existing members and/or season ticket holders.

There's not a lot to fear since it's highly unlikely that this kind of investor would ever attain a majority shareholding, or even enough to have a significant influence over the big decisions the club has to make, or any appointments to the board of directors.