Guest intercity0wl Posted November 2, 2010 Share Posted November 2, 2010 Wednesdayite Statement - SA Share Pooling Initiative Following the press release issued by the Sheffield Wednesday Shareholders Association this morning, suggesting that the four major shareholders in SWFC PLC (in conjunction with a further 14% of individual shareholders) should offer their shares in the club in return for the settlement of at least the outstanding HMRC debt, Wednesdayite would like to offer its full support to this initiative and all like it that have the aim of safeguarding the immediate future of Sheffield Wednesday FC. As part of the wider Save Our Owls campaign, any proposal that can generate the revenue required to keep the club out of administration is welcome and the Board of Wednesdayite is committed to working with all Owls fans groups to fully exploring all possibilities. Given the time constraints under which all efforts to save the club are working, Wednesdayite furthermore commits to preparing for a full ballot of its members on the sale of its shareholding immediately that a firm offer be made. Wednesdayite would urge the three remaining major shareholders (Keith Addy, Geoff Hulley and Dave Allen) to make a statement of their position as regards this initiative as soon as possible, to give the maximum amount of time to interested parties to respond. Thanks for taking the time to read this email! The Wednesdayite Team Link to comment Share on other sites More sharing options...
swafty Posted November 2, 2010 Share Posted November 2, 2010 Fantastic news, I think that was probably the easiest of the 4 parties to get involved. Come on you other 3 lets be havin you!!!!!!! Link to comment Share on other sites More sharing options...
Otto_Man Posted November 3, 2010 Share Posted November 3, 2010 (edited) Seriously, why haven't the membership been given the opportunity to vote on this? And before I get the usual replies about the amount of time this would take, last time I checked, they weren't the W'ite board's shares to give away. Edited November 3, 2010 by Otto_Man Link to comment Share on other sites More sharing options...
pahowl Posted November 3, 2010 Share Posted November 3, 2010 Seriously, why haven't the membership been given the opportunity to vote on this? And before I get the usual replies about the amount of time this would take, last time I checked, they weren't the W'ite board's shares to give away. We have supported it in principal - see the following from the statement yesterday Given the time constraints under which all efforts to save the club are working, Wednesdayite furthermore commits to preparing for a full ballot of its members on the sale of its shareholding immediately that a firm offer be made. Link to comment Share on other sites More sharing options...
Otto_Man Posted November 3, 2010 Share Posted November 3, 2010 We have supported it in principal - see the following from the statement yesterday Thank you for taking the time to respond Paul, on reflection my initial reaction may have come across as quite confrontational and that was not what I intended (although I do believe that today's statement should have mentioned balloting the membership). I have serious misgivings about what has been proposed by the 'SA' (although I believe it's been done with the very best of intentions) the main one being that the Co-Op bank shouldn't (IMO) have carte blanche over a decision like this as they have too much of a vested interest and have already signed off several groups of investors that have not proven to be suitable. Link to comment Share on other sites More sharing options...
swafty Posted November 3, 2010 Share Posted November 3, 2010 Fantastic news, I think that was probably the easiest of the 4 parties to get involved. Come on you other 3 lets be havin you!!!!!!! Come on Addy, come on Hulley.....you know you want too. Link to comment Share on other sites More sharing options...
Jowl Posted November 3, 2010 Share Posted November 3, 2010 If the co-op dont vet investors then who? Link to comment Share on other sites More sharing options...
Otto_Man Posted November 3, 2010 Share Posted November 3, 2010 If the co-op dont vet investors then who? The Co-Op should vet investors, but the board should still decide who the club is sold to Link to comment Share on other sites More sharing options...
Essix Blue Posted November 3, 2010 Share Posted November 3, 2010 The Co-Op should vet investors,but the board should still decide who the club is sold to why? Link to comment Share on other sites More sharing options...
Guest intercity0wl Posted November 3, 2010 Share Posted November 3, 2010 why? Because they have, and always have had the best interests of the club at heart, dont they ?. Link to comment Share on other sites More sharing options...
Otto_Man Posted November 3, 2010 Share Posted November 3, 2010 Because they have, and always have had the best interests of the club at heart, dont they ?. As directors of the PLC, they're legally obliged to act in the best interests of the company, the Co-Op aren't obligated in the same way, surely they would only be interested in doing the best deal for themselves? Link to comment Share on other sites More sharing options...
Jowl Posted November 3, 2010 Share Posted November 3, 2010 Hmmmmm. Legally obliged to act in best interest of the company......... Link to comment Share on other sites More sharing options...
longreach Posted November 4, 2010 Share Posted November 4, 2010 Hmmmmm. Legally obliged to act in best interest of the company......... maybe they thought they were/are Link to comment Share on other sites More sharing options...
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