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Takeover / New Investment - What Rumours Have You Heard?


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7 minutes ago, Lee Sinnott said:

And seeing as though I'm in a mood for asking questions of the Trust, can you please confirm/deny/find out if Mo Lemsagam failed two fit and proper persons tests so couldn't be appointed at Co House, so his brother gave him a job as a Sporting Director which, of course, he is able to do because he owns the place...

 

Yikes. 

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1 hour ago, Lee Sinnott said:

Asking this question in here because the Trust part of the forum hasn't been used since July : is there a reason the new trust rep hasn't taken her place on the board? Is it true she has chosen not to take it yet due to concerns with how AL is running the joint...?

Hi Paddy...you may i have missed it as I did post it a couple of weeks ago....it could have been on this thread even several pages ago..hahah

 

Concerns/issues are not the words i really want to use....but i can't think of other word for it yet....things to iron our maybe? off the top of my head....

 

Firstly, there is no other board members in place other than the owner,  so officially after gone through the legal process of not just being accepted as a board member (Fit and proper to run a business..etc) if she joined now she would be responsible for a business with one other person. Being retired would you? So seeing business minded people on the board of OAFC would be a start. people with some experties/good corporate governance/ even financial support if need be...if we went off one of Al's interview it takes £200k per month to run this club..so being retired would you want that financial burden with one other person without assurances on the board set up?

 

secondly, HMRC outcome from November 2017. We still haven't had closure...now this is before the current reps time but you never know especially if they saddle the club with anything..pure speculation of course but I think its worth waiting for that one to be closed.

 

Thirdly,  we haven't sorted out indeminty insurance ( i think thats what it is called...) to cover her if said business went bust. premiums are high based on the businesses books of 2017 which were only submitted last June, 2018 are overdue. Edit its Directors Liability insurance - sorry

 

other concerns? of course there are.....we would be negligent in our vigilance if we did not keep our eyes and ears open to what we hear and see.

 

Diane as been on the Trust board since the start in 2004 and is a known face at the club, she has  experience of what the previous reps went through to get our entitlement at board level. She is quite astute and rational/logical....she needed to be when working with the the likes of the council to get BP ACV registered,  were as i am more reactionary as you know..hahah

 

hope this helps

 

 

 

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19 minutes ago, Lee Sinnott said:

And seeing as though I'm in a mood for asking questions of the Trust, can you please confirm/deny/find out if Mo Lemsagam failed two fit and proper persons tests so couldn't be appointed at Co House, so his brother gave him a job as a Sporting Director which, of course, he is able to do because he owns the place...

I must admit Paddy,  i have not heard this one, nor have any idea where you would find this info? id it registered somewhere like companies house? can you direct me to this info cheers

 

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Just now, underdog said:

I must admit Paddy,  i have not heard this one, nor have any idea where you would find this info? id it registered somewhere like companies house? can you direct me to this info cheers

 

Is it a question you could ask Mr Lemsagam please...?

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26 minutes ago, Lee Sinnott said:

And seeing as though I'm in a mood for asking questions of the Trust, can you please confirm/deny/find out if Mo Lemsagam failed two fit and proper persons tests so couldn't be appointed at Co House, so his brother gave him a job as a Sporting Director which, of course, he is able to do because he owns the place...

 

6 minutes ago, underdog said:

I must admit Paddy,  i have not heard this one, nor have any idea where you would find this info? id it registered somewhere like companies house? can you direct me to this info cheers

 

 

4 minutes ago, Lee Sinnott said:

Is it a question you could ask Mr Lemsagam please...?

 

Maybe someone could think of a journalist who could ask the question? 

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1 hour ago, Lee Sinnott said:

A business owner can appoint a board however they want. However, as per the Articles of Association of the business there are certain rules. In FA terms, no club can appoint a director at companies house unless that director has passed FPP test first. Diane has done that. So she can be appointed at Co House, under AoA at OAFC she is a member of the “board” as the Trust have a right (without any interference or clearance by the chairman) to appoint whoever they like to that seat. So there is a “board”, but if the owner chooses not to bother having board meetings (minuted etc) then there has to be action by other directors to force those. As it stands Diane is the only other appointed director so she’s “on her own” trying to force these things, if indeed she is...

I think it’s the thought of minutes that’s is the problem...

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1 hour ago, Lee Sinnott said:

And seeing as though I'm in a mood for asking questions of the Trust, can you please confirm/deny/find out if Mo Lemsagam failed two fit and proper persons tests so couldn't be appointed at Co House, so his brother gave him a job as a Sporting Director which, of course, he is able to do because he owns the place...

OUCH

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54 minutes ago, underdog said:

Hi Paddy...you may i have missed it as I did post it a couple of weeks ago....it could have been on this thread even several pages ago..hahah

 

Concerns/issues are not the words i really want to use....but i can't think of other word for it yet....things to iron our maybe? off the top of my head....

 

Firstly, there is no other board members in place other than the owner,  so officially after gone through the legal process of not just being accepted as a board member (Fit and proper to run a business..etc) if she joined now she would be responsible for a business with one other person. Being retired would you? So seeing business minded people on the board of OAFC would be a start. people with some experties/good corporate governance/ even financial support if need be...if we went off one of Al's interview it takes £200k per month to run this club..so being retired would you want that financial burden with one other person without assurances on the board set up?

 

secondly, HMRC outcome from November 2017. We still haven't had closure...now this is before the current reps time but you never know especially if they saddle the club with anything..pure speculation of course but I think its worth waiting for that one to be closed.

 

Thirdly,  we haven't sorted out indeminty insurance ( i think thats what it is called...) to cover her if said business went bust. premiums are high based on the businesses books of 2017 which were only submitted last June, 2018 are overdue. Edit its Directors Liability insurance - sorry

 

other concerns? of course there are.....we would be negligent in our vigilance if we did not keep our eyes and ears open to what we hear and see.

 

Diane as been on the Trust board since the start in 2004 and is a known face at the club, she has  experience of what the previous reps went through to get our entitlement at board level. She is quite astute and rational/logical....she needed to be when working with the the likes of the council to get BP ACV registered,  were as i am more reactionary as you know..hahah

 

hope this helps

 

 

 

Again not read ahead m, but Jesus Christ ! The trust repetitive, is so concerned about the state of club she’s holding back 🤦🏼‍♂️

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9 minutes ago, latics22 said:

Again not read ahead m, but Jesus Christ ! The trust repetitive, is so concerned about the state of club she’s holding back 🤦🏼‍♂️

more assurances needed first.....similar situation as the previous rep but this is taking more time to sort out with additional factors like: 

 

HMRC closure which is even out of Al's control

Previous reps went onto a board with serving members..don't forget it took 5 months for the removal of a board member (ex owner) who would not resign.

 

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3 minutes ago, underdog said:

more assurances needed first.....similar situation as the previous rep but this is taking more time to sort out with additional factors like HMRC which is even out of Al's control

 

I get that, but is it not better having someone batting for the right side, on your side. It sounds like a absolute mess before you consider everything else, that is going on! VERY WORRYING! Or is that just me???

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29 minutes ago, latics22 said:

I get that, but is it not better having someone batting for the right side, on your side. It sounds like a absolute mess before you consider everything else, that is going on! VERY WORRYING! Or is that just me???

I am trying to be as honest as I can and saying no not everything is rosey...it never is for any of the Trust team. We wanted to focus on so much positive stuff...fans stuff like events, pre/post match fans bar....relaunching latics4life, give playershare, launch the membership scheme,  former players events. but we were upto last week, low on numbers again and then we have a new owner 12 months into his tenure.....

 

Corney and Al are different personalities with different views on business....their business. Demand answers....accountability and all...in an ideal world hell yes but we have to manage expectations of what we can achieve without being shut out and yes Barry did get shut out in his early years. We have a dialogue with the owner, we have dialogue with the landlords too. I am hoping for movement soon on both fronts

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6 minutes ago, underdog said:

I am trying to be as honest as I can and saying no not everything is rosey...it never is for any of the Trust team. We wanted to focus on so much positive stuff...fans stuff like events, pre/post match fans bar....relaunching latics4life, give playershare, launch the membership scheme,  former players events. but we were upto last week, low on numbers again and then we have a new owner 12 months into his tenure.....

 

Corney and Al are different personalities with different views on business....their business. Demand answers....accountability and all...in an ideal world hell yes but we have to manage expectations of what we can achieve without being shut out and yes Barry did get shut out in his early years. We have a dialogue with the owner, we have dialogue with the landlords too. I am hoping for movement soon on both fronts

But focusing on all that is like focusing on clean floors in World War Two, as everyone around you is getting shot through the head....

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