I am proposing two proposed resolutions which are connected to the legal action The Trust Board have already set the claims in motion. I assume the Chairman will provide as full a report of the progress as he and the legal team feel appropriate. I hope that he will not seek to dodge the issue with a suggestion that the action has reached a very delicate stage, which is hardly ever the true position. It is important that the vendor shareholders are made to realise that the Trust is most serious in pursuing its claims for compensation as a consequence of their actions in not seeking the Trust's approval for the sale. Had they done so, I would hope the Trust would have given that approval provided the Trust was compensated for the loss in value of their investment which arose as a consequence. I am not a specialist in the field of share valuations, but if I was required to give my guess of the level of loss, and the compensation that was and remains due, I would estimate approximately £20M, give or take. So you will appreciate the importance of recovering the loss from the vendor shareholders.
Someone then asks him.
So there is no vote for members?
Only to the extent that I believe the Trust, including the Trust Board, will be exposed to a substantial legal costs and the members are duty bound to effectively indemnify them. Hence I propose that they be indemnified up to £250,000 plus vat of £50,000, a total of £300,000. Realistically, the cost exposure should be substantially less. But if the authority is there, it saves having to return to the members as and when. It also demonstrates that they are serious in their purpose.
I always imagine people who spend their day correcting grammar on here have sex with their socks on (when they can afford to pay for it) and wore a vest until they were 21. This is Twitter, nobody really gives a fuck. Go have a wank over a dictionary or a game of Scrabble 🖕
I phoned Nation Radio just now to enter their mystery prize competition. The presenter answered and said, "Congratulations on being our first caller all you need to do is answer the following question correctly to win our Mystery Grand Star Prize".. "That's Fantastic!" I called out in delight. "Feel Confident?" The presenter asked, "It's a Maths Question." "Well, I've got a degree in Mathematics from Swansea Uni" I proudly replied, "and I've taught maths to A level students for the last 20 years.” "Ok then to win our grand prize of 2 tickets to a Cardiff city game and to meet the players after the game, what is 2+2 ?" "5", I replied....