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Post by Topper Gas on Nov 29, 2020 14:34:23 GMT
My assumption is they've been delayed because of the Pandemic. A bit more clarity around the situation by the SC would be appreciated though. Can we also assume that the capitalisation of the debt is also due to the pandemic? A bit more clarity around that situation would be appreciated. Of course it's not, so why hasn't it been done? Strange how many on here were quick to say well done Wael for clearing the debt, now it doesn't seem to matter. Any chance you could ask your mates in the SC why they can't just do the AGM online, like most other organisations not stuck in the dark ages seem to have been able to manage?
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Post by gasincider on Nov 29, 2020 18:46:36 GMT
Strange that a bloke who has pretensions of being a fans director won't show willing and ask it himself. Mind you he probably knows the answer as Wael tells him everything. While on the subject, if you can get yourself to ask him, ask him who owns the club as well! I’m not the fans director am I though, so I have no authority to ask anything on behalf of anyone or for myself, and if I did, there is no guarantee I would be told anything and if I was, I would more than likely choose not to post it here anyway. On the subject, Wael said he is going to do it, I’m happy to wait for that to be done and if he doesn’t I’m sure he will tell us why. That’s where me and you are different GI, I don’t need my ego massaged to the extent that I need to come on here and blab anything I may know and I also have a bit of patience for some things to come to fruition without shooting my gums off at the owner and making myself look numpty. But you carry on. I’ve always wondered why people like you and Swiss, expert financial advisors and accountants with a high regard for our club but a low regard for the people running it, don’t put yourselves forward for the fans director position so you can hold these people to account yourselves and satisfy your delusions of grandeur at the same time? Do you really need to be authorised (by whom) to ask anyone a question? You dont need to come come on here and blab what you know? Not bad for someone who put players wages on here. So if you were fans director and the owner told you something, you wouldn't repeat it here. So what use are you to the fans? Someone has to hold the board to account and if you can't do it, why stand? Beside which, any owner would know to only tell you what can be repeated. If he was to ask you not to repeat something, then you refuse to go along with it. After all, you would supposedly be the FANS DIRECTOR.
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Post by gasincider on Nov 29, 2020 18:47:42 GMT
Can we also assume that the capitalisation of the debt is also due to the pandemic? A bit more clarity around that situation would be appreciated. Of course it's not, so why hasn't it been done? Strange how many on here were quick to say well done Wael for clearing the debt, now it doesn't seem to matter. Any chance you could ask your mates in the SC why they can't just do the AGM online, like most other organisations not stuck in the dark ages seem to have been able to manage? Why don't you join and ask it yourself?
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Post by casey12a on Nov 29, 2020 18:53:45 GMT
Any chance you could ask your mates in the SC why they can't just do the AGM online, like most other organisations not stuck in the dark ages seem to have been able to manage? Why don't you join and ask it yourself? Why so bitter? Wael has produced a training ground. The first thing the club has built in my 44 lifetime.
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Post by gashead1981 on Nov 29, 2020 20:40:10 GMT
I’m not the fans director am I though, so I have no authority to ask anything on behalf of anyone or for myself, and if I did, there is no guarantee I would be told anything and if I was, I would more than likely choose not to post it here anyway. On the subject, Wael said he is going to do it, I’m happy to wait for that to be done and if he doesn’t I’m sure he will tell us why. That’s where me and you are different GI, I don’t need my ego massaged to the extent that I need to come on here and blab anything I may know and I also have a bit of patience for some things to come to fruition without shooting my gums off at the owner and making myself look numpty. But you carry on. I’ve always wondered why people like you and Swiss, expert financial advisors and accountants with a high regard for our club but a low regard for the people running it, don’t put yourselves forward for the fans director position so you can hold these people to account yourselves and satisfy your delusions of grandeur at the same time? Do you really need to be authorised (by whom) to ask anyone a question? You dont need to come come on here and blab what you know? Not bad for someone who put players wages on here. So if you were fans director and the owner told you something, you wouldn't repeat it here. So what use are you to the fans? Someone has to hold the board to account and if you can't do it, why stand? Beside which, any owner would know to only tell you what can be repeated. If he was to ask you not to repeat something, then you refuse to go along with it. After all, you would supposedly be the FANS DIRECTOR. You’re right, you don’t need to be authorised, but whether you get the information you want is another matter and whether you want to break a casual confidence again is another matter. As for what I said about wages previously, that was told to me by a player who still plays for the club, it wasn’t said in confidence, and was no different to figures quoted by others on here. If I was the fans director, and I asked a pertinent question to the board on behalf of the SC or the fans which could be commented on publicly of course I would. But this isn’t what you are talking about, you know that and it’s your typical GI trolling way and only you’re dumb enough to continue that line of argument.
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Post by swissgas on Nov 29, 2020 20:54:08 GMT
Strange that a bloke who has pretensions of being a fans director won't show willing and ask it himself. Mind you he probably knows the answer as Wael tells him everything. While on the subject, if you can get yourself to ask him, ask him who owns the club as well! On the subject, Wael said he is going to do it, I’m happy to wait for that to be done and if he doesn’t I’m sure he will tell us why. I’ve always wondered why people like you and Swiss, expert financial advisors and accountants with a high regard for our club but a low regard for the people running it, don’t put yourselves forward for the fans director position so you can hold these people to account yourselves and satisfy your delusions of grandeur at the same time? Most fans feel this way. They prefer to put complete faith in Wael just like most fans (led by the SC and PC) preferred to put complete faith in Nick Higgs and in both cases convinced themselves that any questioning or criticism of the leadership is a sign of disloyalty. You know by now that I believe this “unquestioning loyalty” from supporters is one of the reasons Rovers leaders consistently underperform. But let me go back to the specific issue of the share capitalisation and debt repayment or lack of it. If Rovers was a listed company and this happened then the market would lose confidence and the share price would plummet. Now Rovers is a private company so on the face of it that doesn’t matter so much but the reality is that we are facing the biggest crisis in our history and although Wael has promised to do all he can to keep funding us it’s plain to see we are going to need help to survive let alone prosper and eventually secure a new stadium. So my quandary is whether to keep quiet or say something ? Saying something makes me unpopular and I’ve only done it because I genuinely believe that highlighting the issue and not keeping a lid on it can actually be positive for the club. My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond. I hope the club will provide clarification soon.
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Post by wider on Nov 29, 2020 21:16:22 GMT
My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond.
I hope the club will provide clarification soon.
[/quote]
This assumes Wael needs partners - which he has not mentioned to my knowledge.
As to becoming Fans Director - as I mentioned before - becoming Fans Director entails signing non disclosure forms from the board that prevent the Fans Director even telling fellow Supporters Club members anything! The first ever Fans Director (Jane Browne) resigned because she couldn’t stand the abuse she was getting from fellow fans because she wouldn’t betray the trust put in her by electing her. The worst sort of two edged sword.
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Post by womble on Nov 29, 2020 21:23:33 GMT
On the subject, Wael said he is going to do it, I’m happy to wait for that to be done and if he doesn’t I’m sure he will tell us why. I’ve always wondered why people like you and Swiss, expert financial advisors and accountants with a high regard for our club but a low regard for the people running it, don’t put yourselves forward for the fans director position so you can hold these people to account yourselves and satisfy your delusions of grandeur at the same time? Most fans feel this way. They prefer to put complete faith in Wael just like most fans (led by the SC and PC) preferred to put complete faith in Nick Higgs and in both cases convinced themselves that any questioning or criticism of the leadership is a sign of disloyalty. You know by now that I believe this “unquestioning loyalty” from supporters is one of the reasons Rovers leaders consistently underperform. But let me go back to the specific issue of the share capitalisation and debt repayment or lack of it. If Rovers was a listed company and this happened then the market would lose confidence and the share price would plummet. Now Rovers is a private company so on the face of it that doesn’t matter so much but the reality is that we are facing the biggest crisis in our history and although Wael has promised to do all he can to keep funding us it’s plain to see we are going to need help to survive let alone prosper and eventually secure a new stadium. So my quandary is whether to keep quiet or say something ? Saying something makes me unpopular and I’ve only done it because I genuinely believe that highlighting the issue and not keeping a lid on it can actually be positive for the club. My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond. I hope the club will provide clarification soon. The delay was supposed to be due to Bristol Rovers (1883) Ltd not being able to issue sufficient shares in one go under its constitution. That was changed at the AGM in September, so in theory all should be sorted relatively soon. www.bristolpost.co.uk/sport/football/football-news/bristol-rovers-debt-situation-explained-4518525
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Post by poorblue on Nov 29, 2020 21:35:39 GMT
Basically none of us have a clue what goes on but usually a HoR identifies suitable players then it's up to the manager to decide if he wants them signed or not. I've never heard of a HoR going out and signing players w/o any input from the manager at lower league level. The imbalance in the squad is solely down to BG hence why he's been sacked. Another hijacked thread, so back on theme We all should have a clue if you to this www.bristolrovers.co.uk/news/2020/november/widdrington-dof-interview/
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Post by swissgas on Nov 29, 2020 21:40:46 GMT
Most fans feel this way. They prefer to put complete faith in Wael just like most fans (led by the SC and PC) preferred to put complete faith in Nick Higgs and in both cases convinced themselves that any questioning or criticism of the leadership is a sign of disloyalty. You know by now that I believe this “unquestioning loyalty” from supporters is one of the reasons Rovers leaders consistently underperform. But let me go back to the specific issue of the share capitalisation and debt repayment or lack of it. If Rovers was a listed company and this happened then the market would lose confidence and the share price would plummet. Now Rovers is a private company so on the face of it that doesn’t matter so much but the reality is that we are facing the biggest crisis in our history and although Wael has promised to do all he can to keep funding us it’s plain to see we are going to need help to survive let alone prosper and eventually secure a new stadium. So my quandary is whether to keep quiet or say something ? Saying something makes me unpopular and I’ve only done it because I genuinely believe that highlighting the issue and not keeping a lid on it can actually be positive for the club. My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond. I hope the club will provide clarification soon. The delay was supposed to be due to Bristol Rovers (1883) Ltd not being able to issue sufficient shares in one go under its constitution. That was changed at the AGM in September, so in theory all should be sorted relatively soon. www.bristolpost.co.uk/sport/football/football-news/bristol-rovers-debt-situation-explained-4518525The resolutions were passed on September 28th and filed at Companies House on October 13th. The “club spokesman” said the shares would be allotted and debt cleared directly after the AGM, it was described as being “imminent”. But it has not been done.
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Post by womble on Nov 29, 2020 21:45:29 GMT
The resolutions were passed on September 28th and filed at Companies House on October 13th. The “club spokesman” said the shares would be allotted and debt cleared directly after the AGM, it was described as being “imminent”. But it has not been done. Perhaps some have a more flexible interpretation of imminent than others. If nothing has happened by January, I think I would be concerned.
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Post by Topper Gas on Nov 29, 2020 22:20:54 GMT
Any chance you could ask your mates in the SC why they can't just do the AGM online, like most other organisations not stuck in the dark ages seem to have been able to manage? Why don't you join and ask it yourself? Why waste my hard earned money when the SC is of little assistant now we can't travel to away games. In fact is it still operating as we've heard little from them for months.
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Post by Topper Gas on Nov 29, 2020 22:21:29 GMT
Perhaps the fact the new stadium deal has been "frozen" by COVID means there's now no real urgency to clear the debt, after all if clearing the debt is linked to a stadium deal then Wael may as well keep is money in the bank and let the rest of the family keep funding the club.
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Post by Deleted on Nov 30, 2020 0:33:10 GMT
My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond. I hope the club will provide clarification soon. This assumes Wael needs partners - which he has not mentioned to my knowledge. As to becoming Fans Director - as I mentioned before - becoming Fans Director entails signing non disclosure forms from the board that prevent the Fans Director even telling fellow Supporters Club members anything! The first ever Fans Director (Jane Browne) resigned because she couldn’t stand the abuse she was getting from fellow fans because she wouldn’t betray the trust put in her by electing her. The worst sort of two edged sword.[/quote] Not true on two counts. Steve Burns was the first Supporters Club director. Jane Brown (RIP) was removed from the board at the boards request as she had nothing to offer. A very nice lady and great supporter nonetheless.
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Post by chewbacca on Nov 30, 2020 11:40:38 GMT
My assumption is they've been delayed because of the Pandemic. A bit more clarity around the situation by the SC would be appreciated though. Can we also assume that the capitalisation of the debt is also due to the pandemic? A bit more clarity around that situation would be appreciated. Of course it's not, so why hasn't it been done? Strange how many on here were quick to say well done Wael for clearing the debt, now it doesn't seem to matter. One side clarifying something is and should not be dependent on the other doing something. More clarity from all parties would be appreciated.
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Post by gashead1981 on Nov 30, 2020 12:27:39 GMT
On the subject, Wael said he is going to do it, I’m happy to wait for that to be done and if he doesn’t I’m sure he will tell us why. I’ve always wondered why people like you and Swiss, expert financial advisors and accountants with a high regard for our club but a low regard for the people running it, don’t put yourselves forward for the fans director position so you can hold these people to account yourselves and satisfy your delusions of grandeur at the same time? Most fans feel this way. They prefer to put complete faith in Wael just like most fans (led by the SC and PC) preferred to put complete faith in Nick Higgs and in both cases convinced themselves that any questioning or criticism of the leadership is a sign of disloyalty. You know by now that I believe this “unquestioning loyalty” from supporters is one of the reasons Rovers leaders consistently underperform. But let me go back to the specific issue of the share capitalisation and debt repayment or lack of it. If Rovers was a listed company and this happened then the market would lose confidence and the share price would plummet. Now Rovers is a private company so on the face of it that doesn’t matter so much but the reality is that we are facing the biggest crisis in our history and although Wael has promised to do all he can to keep funding us it’s plain to see we are going to need help to survive let alone prosper and eventually secure a new stadium. So my quandary is whether to keep quiet or say something ? Saying something makes me unpopular and I’ve only done it because I genuinely believe that highlighting the issue and not keeping a lid on it can actually be positive for the club. My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond. I hope the club will provide clarification soon. Well Rovers aren't a listed company, so they can behave in whatever way suits them, react to whatever the world does and by rights, and technically, we have no business to ask why. Only the nature of the business means we actually get any information from the board of directors. So fans have no choice other than to have faith that the owners act in the best interests of the club. Evidence is that Wael does what he says he is going to do. The evidence is that sometimes he doesn't do things as quickly as us fans would like. So I have no reason to disbelieve he won't do what he says at this stage. All I will say is a man who has put the likely sum of about £4m into a training complex for us is serious about us as a club. You say that its a quandary with serious implications that you write with such inflamed passion about it on both forums.. Now I admit, finance, or rather the deep intricacies of accounting finance where capitalisation of debt is concerned is not my speciality, and its likely not the speciality of most of the people here I would assume, but if its so serious that you need to write about it on a fans forum in a tone where we all need to be concerned about it, then surely the best way is that you take what would be 5 mins out of your day and repeat the question to Wael or Martyn via an email or social media direct message? Then you can post the reply on here as well? That way you get the transparency you were after, an answer to a question and then we can really see the positives or negatives in what would be a proper context. Especially when you have been banging this same drum for months on the other forum too. Why haven't you raised it in all that time? Or you can do a gasincider, which is to light a blue touch paper with half of a snippet of knowledge on a subject and retire for others to speculate, which is what you have done so far on both forums and a typical behavioural trait of a forum troll.
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Post by swissgas on Dec 1, 2020 3:25:29 GMT
Most fans feel this way. They prefer to put complete faith in Wael just like most fans (led by the SC and PC) preferred to put complete faith in Nick Higgs and in both cases convinced themselves that any questioning or criticism of the leadership is a sign of disloyalty. You know by now that I believe this “unquestioning loyalty” from supporters is one of the reasons Rovers leaders consistently underperform. But let me go back to the specific issue of the share capitalisation and debt repayment or lack of it. If Rovers was a listed company and this happened then the market would lose confidence and the share price would plummet. Now Rovers is a private company so on the face of it that doesn’t matter so much but the reality is that we are facing the biggest crisis in our history and although Wael has promised to do all he can to keep funding us it’s plain to see we are going to need help to survive let alone prosper and eventually secure a new stadium. So my quandary is whether to keep quiet or say something ? Saying something makes me unpopular and I’ve only done it because I genuinely believe that highlighting the issue and not keeping a lid on it can actually be positive for the club. My fear is that continued lack of transparency over the debt capitalisation is likely to harm Rovers chances of securing the strong credible partners which we need to get us through this crisis and beyond. I hope the club will provide clarification soon. Well Rovers aren't a listed company, so they can behave in whatever way suits them, react to whatever the world does and by rights, and technically, we have no business to ask why. Only the nature of the business means we actually get any information from the board of directors. So fans have no choice other than to have faith that the owners act in the best interests of the club. Evidence is that Wael does what he says he is going to do. The evidence is that sometimes he doesn't do things as quickly as us fans would like. So I have no reason to disbelieve he won't do what he says at this stage. All I will say is a man who has put the likely sum of about £4m into a training complex for us is serious about us as a club. You say that its a quandary with serious implications that you write with such inflamed passion about it on both forums.. Now I admit, finance, or rather the deep intricacies of accounting finance where capitalisation of debt is concerned is not my speciality, and its likely not the speciality of most of the people here I would assume, but if its so serious that you need to write about it on a fans forum in a tone where we all need to be concerned about it, then surely the best way is that you take what would be 5 mins out of your day and repeat the question to Wael or Martyn via an email or social media direct message? Then you can post the reply on here as well? That way you get the transparency you were after, an answer to a question and then we can really see the positives or negatives in what would be a proper context. Especially when you have been banging this same drum for months on the other forum too. Why haven't you raised it in all that time? Or you can do a gasincider, which is to light a blue touch paper with half of a snippet of knowledge on a subject and retire for others to speculate, which is what you have done so far on both forums and a typical behavioural trait of a forum troll. This statement, made by the club on July 8th, is plainly and simply wrong. “Following the recent Open Letter from Club President, Wael Al Qadi, the Club can confirm that the process of appointing the new Directors and capitalising the debt owed to Dwane Sports has been formally processed on Companies House. In total, club debt totalling £16.4m has been capitalised through the issue of new shares by Bristol Rovers (1883) Limited and £18.4m of debt between Bristol Rovers (1883) Limited and Dwane Sports Limited has also been eliminated by a similar share issue. “ My point applies in all walks of life not just in business and finance. If you say you have done something and it is later discovered that you actually haven’t done it then people will lose confidence in you. As a small shareholder I was entitled to ask the company secretaries Taylor Wessing why the share issue to clear the debt owed to Dwane Sports Ltd had not gone ahead but they didn’t reply.
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Post by Deleted on Dec 1, 2020 11:14:05 GMT
Well Rovers aren't a listed company, so they can behave in whatever way suits them, react to whatever the world does and by rights, and technically, we have no business to ask why. Only the nature of the business means we actually get any information from the board of directors. So fans have no choice other than to have faith that the owners act in the best interests of the club. Evidence is that Wael does what he says he is going to do. The evidence is that sometimes he doesn't do things as quickly as us fans would like. So I have no reason to disbelieve he won't do what he says at this stage. All I will say is a man who has put the likely sum of about £4m into a training complex for us is serious about us as a club. You say that its a quandary with serious implications that you write with such inflamed passion about it on both forums.. Now I admit, finance, or rather the deep intricacies of accounting finance where capitalisation of debt is concerned is not my speciality, and its likely not the speciality of most of the people here I would assume, but if its so serious that you need to write about it on a fans forum in a tone where we all need to be concerned about it, then surely the best way is that you take what would be 5 mins out of your day and repeat the question to Wael or Martyn via an email or social media direct message? Then you can post the reply on here as well? That way you get the transparency you were after, an answer to a question and then we can really see the positives or negatives in what would be a proper context. Especially when you have been banging this same drum for months on the other forum too. Why haven't you raised it in all that time? Or you can do a gasincider, which is to light a blue touch paper with half of a snippet of knowledge on a subject and retire for others to speculate, which is what you have done so far on both forums and a typical behavioural trait of a forum troll. This statement, made by the club on July 8th, is plainly and simply wrong. “Following the recent Open Letter from Club President, Wael Al Qadi, the Club can confirm that the process of appointing the new Directors and capitalising the debt owed to Dwane Sports has been formally processed on Companies House. In total, club debt totalling £16.4m has been capitalised through the issue of new shares by Bristol Rovers (1883) Limited and £18.4m of debt between Bristol Rovers (1883) Limited and Dwane Sports Limited has also been eliminated by a similar share issue. “ My point applies in all walks of life not just in business and finance. If you say you have done something and it is later discovered that you actually haven’t done it then people will lose confidence in you. As a small shareholder I was entitled to ask the company secretaries Taylor Wessing why the share issue to clear the debt owed to Dwane Sports Ltd had not gone ahead but they didn’t reply. Maybe I am naive or maybe it is because I am not a share scheme shareholder, but who says it hasn’t been done? We only have your word? Companies House and all of the statements / communications from the club say it has? If it is the physical share certificate then it could be that it is just you that hasn’t received it? Re asking the question, it is the Company Secretaries role to process the paperwork and you have asked them the question but not got a reply? If that’s the case your issue is with them as it’s their job ! You should chase them up! Also when and how did you ask? For a significant period non essential businesses were closed and staff furloughed with the rules of furlough meaning no work can be done in that period. I have no idea whether they fall into that camp or not but it might well explain the lack of action. It seems to me that it is you / G.I that have the concern so it should be your responsibility to ask Martyn, Tommy and Wael as Directors for an answer as being shareholders it is your right. I can’t understand why you’re asking other people to do that for you? And rather than come on here and scaremonger with assumptions and speculation, why not wait until you get your response and post that or post what the real issue is for you which is you were expecting something to be done by now, haven’t had your own personal confirmation yet, have asked a question and not received a reply - poor customer service but in a Covid-19 impacted world, probably explainable.... This is what frustrates me about you and G.I. ...... you post snippets or assumptions or speculation which may have some substance but you don’t know for fact, you dress it up as factual and generally always to have a go at the board? I have no idea what the board or Wael have done to you for your dis trust? From my viewpoint (which might be wrong) all I can see is Wael having done everything he has ever said he would? Might be a bit slower than fans would like but it’s still been done and I see no reason to not trust him?? Maybe you and GI can explain what they haven’t (backed factually rather than speculatively) done or what your reasons are for distrusting them so much?
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Post by gashead1981 on Dec 1, 2020 11:25:05 GMT
This statement, made by the club on July 8th, is plainly and simply wrong. “Following the recent Open Letter from Club President, Wael Al Qadi, the Club can confirm that the process of appointing the new Directors and capitalising the debt owed to Dwane Sports has been formally processed on Companies House. In total, club debt totalling £16.4m has been capitalised through the issue of new shares by Bristol Rovers (1883) Limited and £18.4m of debt between Bristol Rovers (1883) Limited and Dwane Sports Limited has also been eliminated by a similar share issue. “ My point applies in all walks of life not just in business and finance. If you say you have done something and it is later discovered that you actually haven’t done it then people will lose confidence in you. As a small shareholder I was entitled to ask the company secretaries Taylor Wessing why the share issue to clear the debt owed to Dwane Sports Ltd had not gone ahead but they didn’t reply. Maybe I am naive or maybe it is because I am not a share scheme shareholder, but who says it hasn’t been done? We only have your word? Companies House and all of the statements / communications from the club say it has? If it is the physical share certificate then it could be that it is just you that hasn’t received it? Re asking the question, it is the Company Secretaries role to process the paperwork and you have asked them the question but not got a reply? If that’s the case your issue is with them as it’s their job ! You should chase them up! Also when and how did you ask? For a significant period non essential businesses were closed and staff furloughed with the rules of furlough meaning no work can be done in that period. I have no idea whether they fall into that camp or not but it might well explain the lack of action. It seems to me that it is you / G.I that have the concern so it should be your responsibility to ask Martyn, Tommy and Wael as Directors for an answer as being shareholders it is your right. I can’t understand why you’re asking other people to do that for you? And rather than come on here and scaremonger with assumptions and speculation, why not wait until you get your response and post that or post what the real issue is for you which is you were expecting something to be done by now, haven’t had your own personal confirmation yet, have asked a question and not received a reply - poor customer service but in a Covid-19 impacted world, probably explainable.... This is what frustrates me about you and G.I. ...... you post snippets or assumptions or speculation which may have some substance but you don’t know for fact, you dress it up as factual and generally always to have a go at the board? I have no idea what the board or Wael have done to you for your dis trust? From my viewpoint (which might be wrong) all I can see is Wael having done everything he has ever said he would? Might be a bit slower than fans would like but it’s still been done and I see no reason to not trust him?? Maybe you and GI can explain what they haven’t (backed factually rather than speculatively) done or what your reasons are for distrusting them so much? Exactly.
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Post by swissgas on Dec 1, 2020 15:28:38 GMT
This statement, made by the club on July 8th, is plainly and simply wrong. “Following the recent Open Letter from Club President, Wael Al Qadi, the Club can confirm that the process of appointing the new Directors and capitalising the debt owed to Dwane Sports has been formally processed on Companies House. In total, club debt totalling £16.4m has been capitalised through the issue of new shares by Bristol Rovers (1883) Limited and £18.4m of debt between Bristol Rovers (1883) Limited and Dwane Sports Limited has also been eliminated by a similar share issue. “ My point applies in all walks of life not just in business and finance. If you say you have done something and it is later discovered that you actually haven’t done it then people will lose confidence in you. As a small shareholder I was entitled to ask the company secretaries Taylor Wessing why the share issue to clear the debt owed to Dwane Sports Ltd had not gone ahead but they didn’t reply. Maybe I am naive or maybe it is because I am not a share scheme shareholder, but who says it hasn’t been done? We only have your word? Companies House and all of the statements / communications from the club say it has? If it is the physical share certificate then it could be that it is just you that hasn’t received it? Re asking the question, it is the Company Secretaries role to process the paperwork and you have asked them the question but not got a reply? If that’s the case your issue is with them as it’s their job ! You should chase them up! Also when and how did you ask? For a significant period non essential businesses were closed and staff furloughed with the rules of furlough meaning no work can be done in that period. I have no idea whether they fall into that camp or not but it might well explain the lack of action. It seems to me that it is you / G.I that have the concern so it should be your responsibility to ask Martyn, Tommy and Wael as Directors for an answer as being shareholders it is your right. I can’t understand why you’re asking other people to do that for you? And rather than come on here and scaremonger with assumptions and speculation, why not wait until you get your response and post that or post what the real issue is for you which is you were expecting something to be done by now, haven’t had your own personal confirmation yet, have asked a question and not received a reply - poor customer service but in a Covid-19 impacted world, probably explainable.... This is what frustrates me about you and G.I. ...... you post snippets or assumptions or speculation which may have some substance but you don’t know for fact, you dress it up as factual and generally always to have a go at the board? I have no idea what the board or Wael have done to you for your dis trust? From my viewpoint (which might be wrong) all I can see is Wael having done everything he has ever said he would? Might be a bit slower than fans would like but it’s still been done and I see no reason to not trust him?? Maybe you and GI can explain what they haven’t (backed factually rather than speculatively) done or what your reasons are for distrusting them so much? Thanks for a very reasoned response but what I have posted is fact. Companies House records show that the Dwane Sports loan to BRFC 1883 Ltd has not been capitalised and so the debt has not been paid off. I am deliberately not speculating on the reason for this but instead saying it is in Rovers and Wael's best interests that the issue is clarified. Gasheads may choose to take everything at face value and put infinite trust in our leaders but I would contend that this attitude is one of the reasons Rovers are being left behind while other clubs progress. We turn a blind eye to mistakes and inconsistencies hoping the issues will go away but that, putting it bluntly, is a losing mentality.
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