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#Post#: 42399--------------------------------------------------
Debt for Equity swap?
DIR By: Perdita
Date: April 29, 2020, 3:41 am
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In order to tempt the c70% of fans that haven't renewed season
tickets for next year, Quins Ltd could provide shares in the
club as part of the ticket price. I've sensed a split between
Quins Ltd and Quins Club over the last few seasons and this
action would make us all owners (as well as supporters). Let's
be honest, they'd be worthless shares in a loss making business
but we at least 'own' (part of) the club.
It would be great to have Comeallwithin collectively represented
on the board. Quins Ltd need the fans more than ever.
#Post#: 42413--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Jus-Quin-Time
Date: April 29, 2020, 6:12 am
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Perdita, may I ask where you have obtained this data regarding
membership renewal. The membership final date isn't until 9
June and I am sure there will be many who will wait until the
last minute before committing themselves. In that regard the
30%/70% has no validity.
Instead of talking about share ownership I would rather see
greater transparency over how the club sees a way through the
current situation. Ideally we need a club statement along the
lines of:
1. Freezing the 2020/21 membership renewal process until there
is clarity over when the new season will begin and in what
format. The arbitrary 9th June deadline to be abandoned with a
new date set when there is confidence over a start date.
2. If the 2019/20 season is abandoned. Details of a
reimbursement or transfer of funds plan for existing season
ticket holders for the missed games. An option to donate the
balance to the club for those willing to do so.
Members are already invested in the club through our financial
commitment. It's now time for the club to step up and give
voice to the options they have open to them regarding this
season and next. I am sure that lots of good people have been
working extremely hard to explore ways and means. I understand
most of this is out of the clubs control but I would appreciate
being kept informed along the way.
#Post#: 42415--------------------------------------------------
Re: Debt for Equity swap?
DIR By: never sleep
Date: April 29, 2020, 6:44 am
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Always consider that there is always a possibility that the
2020/21 season will not happen.
#Post#: 42417--------------------------------------------------
Re: Debt for Equity swap?
DIR By: deadlyfrom5yardsout
Date: April 29, 2020, 6:48 am
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My gut tells me that even if there is no more Footy this season
I will be minded to let the Club keep my ST money. I think it
kind of depends on how it is handled and maybe whether ST monies
can be ring fenced for suitable uses rather than paying down
debts.
#Post#: 42420--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Perdita
Date: April 29, 2020, 6:53 am
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Message to debenture holders
#Post#: 42426--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Jus-Quin-Time
Date: April 29, 2020, 7:20 am
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Perdita - Thanks. But at this point and in this current climate
of uncertainty it seems a bit left field to be talking about an
equity fundraise. Even if that were being considered the first
thing they need to do is up their game regarding communication.
They will have more success downstream if they begin informing
people now about what is happening, even if that is still
largely predictive.
All the tools are there - a website, direct e-mail facility -
for a fortnightly sit-rep. I am not interested in how the
players are keeping themselves occupied during the lockdown or
how the grass is looking after itself. I am interested in a
view from the RFU, Premiership Rugby and the club on how they
see developments in the near, middle and distant future.
I am keeping my membership renewal under review. If the club
maintain radio silence through May then I am unlikely to renew
and that goes for the rest of my family as well. To turn that
30/70% in their favour they need to start talking.
#Post#: 42429--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Jus-Quin-Time
Date: April 29, 2020, 7:27 am
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--- Quote from: deadlyfrom5yardsout link ---
>
> My gut tells me that even if there is no more Footy this
season I will be minded to let the Club keep my ST money. I
think it kind of depends on how it is handled and maybe whether
ST monies can be ring fenced for suitable uses rather than
paying down debts.
>
--- End Quote ---
I think there will be many who agree with you and it should be
an option on the table. The problem is that here and now the
club is acting as if nothing has changed, when we all know it
has. There are no options on the table at all other than 'take
it or leave it' - renew by 9th Jun or don't.
Its a bit like an ostrich sticking its head in the sand. Even a
note to say everything is under review and a decision will be
made on xx date, would be a big step in the right direction.
#Post#: 42448--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Quinky
Date: April 29, 2020, 10:08 am
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--- Quote from: Jus-Quin-Time link ---
>
> I think there will be many who agree with you and it should be
an option on the table. The problem is that here and now the
club is acting as if nothing has changed, when we all know it
has. There are no options on the table at all other than 'take
it or leave it' - renew by 9th Jun or don't.
>
--- End Quote ---
It could be that they're waiting to get a clearer picture
(aren't we all) before making some kind of counter offer.
I'm on the board of a membership organisation. There is an
annual subscription, but due to the current situation several
member benefits are just unusable. (Ironically, some members are
now seeing further benefits and are taking greater use of them).
As a board, we've taken the decision to defer membership
renewals from Jan 1st to April 1st, effectively meaning Q1 of
2021 will be free. It seems fair. However we can afford to do
this financially and I'm aware that's a factor that Quins may
not have in their favour. We're going to revisit this in the
next couple of months to see if we need to add in further
measures - we can do this, but an organisation like Quins just
can't.
#Post#: 42450--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Nico Wilson
Date: April 29, 2020, 10:44 am
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--- Quote from: Perdita link ---
>
> Message to debenture holders
>
--- End Quote ---
When was this sent? I'm going through my emails and and I
haven't seen anything on renewals since 11 March. I hope I
haven't accidentally deleted it.
#Post#: 42452--------------------------------------------------
Re: Debt for Equity swap?
DIR By: Domestos
Date: April 29, 2020, 11:24 am
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--- Quote from: Nico Wilson link ---
>
> When was this sent? I'm going through my emails and and I
haven't seen anything on renewals since 11 March. I hope I
haven't accidentally deleted it.
>
--- End Quote ---
Why delete emails?
Leave 'em. You have got a ton of space, just let them
accumulate.
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