More financial goings on

[Chief]

https://twitter.com/Ciaran__SCFC/status/1699186867835462035?t=Xrv0Ob0cq8mY6Gn1KMHDbA&s=19

 

[PSumbler]

Maybe I am reading that wrong but isn't that 20m shares at 50P each which is an investment of £10m?

Now I read something as well the other day to say that something was filed as a correction - cant remember what that was in relation to mind someone will be along with a more knowledgeable answer

 

[Londonlisa2001]

It’s a corrected filing at a level below where investment is made.

All the shares in that company are owned by Swansea City 2002 Ltd which is where investment is made by Swansea Football LLC, Nigel Morris etc etc.

It’s paperwork.

We wait with anticipation news of the supposed restructure. Now that the window is closed so all the huge amounts of money we have can’t be used against us. Lol.

 

[PSumbler]

It’s a corrected filing at a level below where investment is made.

All the shares in that company are owned by Swansea City 2002 Ltd which is where investment is made by Swansea Football LLC, Nigel Morris etc etc.

It’s paperwork.

We wait with anticipation news of the supposed restructure. Now that the window is closed so all the huge amounts of money we have can’t be used against us. Lol.

I asked that question on Twitter the other day...

 

[Niigata Jack]

https://twitter.com/Ciaran__SCFC/status/1699186867835462035?t=Xrv0Ob0cq8mY6Gn1KMHDbA&s=19

So has this 36m or whatever it was gone into the actual club or just been used to buy shares off other's meaning that very little if any of it as gone into the club.

What's the actual value of the club these days, I wouldn't have thought that its value wouldn't be much more 50/60million as it stands if that?

 

[Londonlisa2001]

So has this 36m or whatever it was gone into the actual club or just been used to buy shares off other's meaning that very little if any of it as gone into the club.

What's the actual value of the club these days, I wouldn't have thought that its value wouldn't be much more 50/60million as it stands if that?

As I said, no money has gone anywhere - it’s an admin issue.

No money into club, no money changed hands.

 

[Londonlisa2001]

I asked that question on Twitter the other day...

Did you get an answer?

 

[jasper_T]

So has this 36m or whatever it was gone into the actual club or just been used to buy shares off other's meaning that very little if any of it as gone into the club.

What's the actual value of the club these days, I wouldn't have thought that its value wouldn't be much more 50/60million as it stands if that?

Issuing new shares means money being put into the club, and £36m seems to be the total amount put in over the last year or so with half of it being old debts written off/converted. Doesn't last long in this division but the investors are still substantially out of pocket.

 

[Niigata Jack]

As I said, no money has gone anywhere - it’s an admin issue.

No money into club, no money changed hands.

So there's been NO investment then, despite what's been claimed?

 

[Manselton Jack]

Don't tell me that Duffle Coat was actually wrong about something

 

[Londonlisa2001]

So there's been NO investment then, despite what's been claimed?

There was investment earlier this summer. £10m from Morris and !10m from Swansea Football LLC.

Investment goes in at Swansea City 2002 Ltd which is the parent company of this entity. It owns all the shares.
When the money goes in at 2002Ltd level it has to pass down to the club itself which it does by issuing shares at this level. They had obviously not done that for one of the £10m tranches we already knew about. This is correcting that for companies house.

So there has been investment but this filing isn’t new investment or investment we didn’t already know about. No new money is there because of this. It’s just admin.

 

[Londonlisa2001]

Issuing new shares means money being put into the club, and £36m seems to be the total amount put in over the last year or so with half of it being old debts written off/converted. Doesn't last long in this division but the investors are still substantially out of pocket.

The money was already there - this is just tidying up admin. Plus it’s £10m - which will be one of the £10m tranches already known about.

No debt has been written off by the way. Not sure why you think it has. Convertible debt of £16m was converted to equity.

And no one is out of pocket except those that bought shares at premier league valuation.

 

[jasper_T]

No debt has been written off by the way. Not sure why you think it has. Convertible debt of £16m was converted to equity.

The club doesn't have to pay back that debt. Apologies if it's not the right terminology but it's money that was put into the club that is no longer owed back out at a later date, or is costing the club interest.

 

[PSumbler]

Did you get an answer?

Nope but someone replied to a different thread from the Trust and said they were “hopeful” the club may clarify it

 

[Vetchfielder]

There was investment earlier this summer. £10m from Morris and !10m from Swansea Football LLC.

Investment goes in at Swansea City 2002 Ltd which is the parent company of this entity. It owns all the shares.
When the money goes in at 2002Ltd level it has to pass down to the club itself which it does by issuing shares at this level. They had obviously not done that for one of the £10m tranches we already knew about. This is correcting that for companies house.

So there has been investment but this filing isn’t new investment or investment we didn’t already know about. No new money is there because of this. It’s just admin.

Thank you so much Lisa for continuing to keep an eye on these things and especially for coming on here and explaining the issues to us. The Trust don't do that properly anymore and, actually, cannot be relied upon for any purpose whatsoever.