https://www.ncafctrust.org/news/notes-f ... d-meeting/

Note this is May's meeting and not June's.

At the time,I couldn’t understand why the club offices were relocating to probably the most expensive office space in Newport.They are now seeking a cheaper option.

Two points.

Firstly Paragraph 5.The board were giving a financial update. Which is hardly surprising. And of no interest. What the financial position is would be of interest but we learn nothing.

Secondly and something we do learn.

Paragraph 6. Bar Amber.

SJ reported that he had written to the Landlord to say the Trust would not be renewing the lease........

Clearly the board, like myself, clearly see that for all practical purposes the Trust and the Club are interchangeable terms.

Trust News Dec 18 -

AS YOU may know, the Supporters’ Trust has taken over the running of a city centre pub. All profits from the venture will be donated to the Club.

Not sure I agree with that. I received the meeting notes today by email from the Trust. The heading says they're from a meeting of the Trust Board. The Bar Amber lease was held by the Trust not the club.
Obviously everyone on the Trust Board is a director of the club - I get that. When it's been explained at open meetings they've said the Trust Board agrees budgets/financial plans etc and then there's a smaller group of directors who run the club day to day reporting back to the main board.
That's how I read these notes - Shaun Johnson the chairman of the Trust reporting on Trust matters like Bar Amber, Gavin Foxall the chairman of the club reporting on club matters.
When my company's board of directors meet, they get a report from the 'exec team' who run the business day to day. Sounds like a broadly similar set up to me.
Had a quick look on Companies House and they're two different legal entities with the same directors. Strictly speaking, they're trustees of the Trust and directors of the club.

Jonesy3 wrote:Not sure I agree with that. I received the meeting notes today by email from the Trust. The heading says they're from a meeting of the Trust Board. The Bar Amber lease was held by the Trust not the club.
Obviously everyone on the Trust Board is a director of the club - I get that. When it's been explained at open meetings they've said the Trust Board agrees budgets/financial plans etc and then there's a smaller group of directors who run the club day to day reporting back to the main board.
That's how I read these notes - Shaun Johnson the chairman of the Trust reporting on Trust matters like Bar Amber, Gavin Foxall the chairman of the club reporting on club matters.
When my company's board of directors meet, they get a report from the 'exec team' who run the business day to day. Sounds like a broadly similar set up to me.
Had a quick look on Companies House and they're two different legal entities with the same directors. Strictly speaking, they're trustees of the Trust and directors of the club.

However the decision was made at the board meeting of the club. Which is why I said interchangeable. If they were truly separate entities the board of Newport County would not discuss it, and note importantly could not take action. Both of which they have clearly done.

Notes from May's Trust Board meeting

NEWPORT COUNTY AFC SUPPORTERS’ TRUST BOARD MEETING

Stan A. Einstein wrote:However the decision was made at the board meeting of the club. Which is why I said interchangeable. If they were truly separate entities the board of Newport County would not discuss it, and note importantly could not take action. Both of which they have clearly done.

Sorry Stan, you've got that wrong. The notes are from a Supporters Trust board meeting.

Jonesy3 wrote:

Stan A. Einstein wrote:However the decision was made at the board meeting of the club. Which is why I said interchangeable. If they were truly separate entities the board of Newport County would not discuss it, and note importantly could not take action. Both of which they have clearly done.

Sorry Stan, you've got that wrong. The notes are from a Supporters Trust board meeting.

So why are they discussing the financial position of Newport County? Unless they are one and the same thing?

Amberexile wrote:Notes from May's Trust Board meeting

NEWPORT COUNTY AFC SUPPORTERS’ TRUST BOARD MEETING

Who discuss the financial position of Newport County. They are one and the same thing. Stop being a complete eejit.

Edit.

Item 1. Financial Officer interviews postponed. Is it the trust which requires a finance officer? No!!!!

Bradford City incident investigation deferred. Were Newport County playing Bradford or the trust? NEWPORT COUNTY.

Item 3.

ELF League 2 season completion.

Was it Newport County playing in League 2 or the trust? NEWPORT COUNTY.

Item 4. Employment update.
Staff Furlough.

Was it Newport County staff who were furloughed or trust staff? NEWPORT COUNTY STAFF.

Item 5 Financial update.

Budget and cash flow. Was it the trusts cash flow or Newport County's cash flow being discussed? NEWPORT COUNTY'S.

Item 7

Equality Diversity & safeguarding.

Do I need to go on?

Item 8

Oh go on then. HMS Severn is going to forge links with either the trust or Newport County. My money's on NEWPORT COUNTY.

Stan A. Einstein wrote:

Amberexile wrote:Notes from May's Trust Board meeting

NEWPORT COUNTY AFC SUPPORTERS’ TRUST BOARD MEETING

Who discuss the financial position of Newport County. They are one and the same thing. Stop being a complete eejit.

Edit.

Item 1. Financial Officer interviews postponed. Is it the trust which requires a finance officer? No!!!!

Bradford City incident investigation deferred. Were Newport County playing Bradford or the trust? NEWPORT COUNTY.

Item 3.

ELF League 2 season completion.

Was it Newport County playing in League 2 or the trust? NEWPORT COUNTY.

Item 4. Employment update.
Staff Furlough.

Was it Newport County staff who were furloughed or trust staff? NEWPORT COUNTY STAFF.

Item 5 Financial update.

Budget and cash flow. Was it the trusts cash flow or Newport County's cash flow being discussed? NEWPORT COUNTY'S.

Item 7

Equality Diversity & safeguarding.

Do I need to go on?

Item 8

Oh go on then. HMS Severn is going to forge links with either the trust or Newport County. My money's on NEWPORT COUNTY.

Of course the Trust board discuss the financial position of Newport County, they own the Club. They would be derelict in their duties if they did not.

I'll try to explain using an example.

Company A runs a sweet shop and buys a controlling interest in Company B a dog food manufacturer and Company C a brewery. Company A in effect owns both Companies B and C.
Company A is the parent company and Companies B and C are subsidiaries of Company A.
At the board meeting of the parent company - Company A, since they own Companies B and C, they will discuss their own affairs and those of their subsidiaries since they own them.

Consider the Trust the parent company which owns the majority shareholding of the Club, it's subsidiary.
At the board meeting of the parent company - The Trust, they will discuss the affairs of their subsidiary - The Club.

It is how it should be.

Amberexile wrote:

Stan A. Einstein wrote:

Amberexile wrote:Notes from May's Trust Board meeting

NEWPORT COUNTY AFC SUPPORTERS’ TRUST BOARD MEETING

Who discuss the financial position of Newport County. They are one and the same thing. Stop being a complete eejit.

Edit.

Item 1. Financial Officer interviews postponed. Is it the trust which requires a finance officer? No!!!!

Bradford City incident investigation deferred. Were Newport County playing Bradford or the trust? NEWPORT COUNTY.

Item 3.

ELF League 2 season completion.

Was it Newport County playing in League 2 or the trust? NEWPORT COUNTY.

Item 4. Employment update.
Staff Furlough.

Was it Newport County staff who were furloughed or trust staff? NEWPORT COUNTY STAFF.

Item 5 Financial update.

Budget and cash flow. Was it the trusts cash flow or Newport County's cash flow being discussed? NEWPORT COUNTY'S.

Item 7

Equality Diversity & safeguarding.

Do I need to go on?

Item 8

Oh go on then. HMS Severn is going to forge links with either the trust or Newport County. My money's on NEWPORT COUNTY.

Of course the Trust board discuss the financial position of Newport County, they own the Club. They would be derelict in their duties if they did not.

I'll try to explain using an example.

Company A runs a sweet shop and buys a controlling interest in Company B a dog food manufacturer and Company C a brewery. Company A in effect owns both Companies B and C.
Company A is the parent company and Companies B and C are subsidiaries of Company A.
At the board meeting of the parent company - Company A, since they own Companies B and C, they will discuss their own affairs and those of their subsidiaries since they own them.

Consider the Trust the parent company which owns the majority shareholding of the Club, it's subsidiary.
At the board meeting of the parent company - The Trust, they will discuss the affairs of their subsidiary - The Club.

It is how it should be.

Utter bollolx.

Sorry but I can't dumb it down any further than that.

Amberexile wrote:Sorry but I can't dumb it down any further than that.

I agree.

However a Trust is a trust. A limited company is a limited company.

Now we know that the board of directors of the trust, who are trustees are made up of the same people as make up the board of directors of Newport County AFC. We know that a meeting of the board of directors of the trust, makes decisions for Newport County.

Now to then try to argue that for all practical purposes they are one and the same thing is ludicrous.

As are you.

Who owns the majority of the shares in the club?