Woahhoaaa we're there

[lo36789]

Yeh that's right. Those who invested directly have been asked to convert their shares into the community shares. So rather than investing direct in the football club they are now in the DFCSG.

I think when the CIC became DFCSG your shares in the CIC were became the community shares that is in the prospectus but I dunno.

[shawry]

Yeh that's right. Those who invested directly have been asked to convert their shares into the community shares. So rather than investing direct in the football club they are now in the DFCSG.

I think when the CIC became DFCSG your shares in the CIC were became the community shares that is in the prospectus but I dunno.

Can someone explain how this is working.

Am I right in thinking the community shares are just investments, it doesn't bring voting rights, the membership you pay is what gives you that?

No extra equity has been made available by the club, just by hopefully transferring the private investment brings tax breaks?

This transfer of equity from private investment to the dfcsg is just a paper exercise and is actually separate to the community shares as it realises no extra money for the club?

Also, how does the dfcsg safeguard the ground if the club is being loaned the money to build it.

Thanks in advance

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[super_les_mcjannet]

Think you have pretty much got it spot on Shawry.

I believe swapping your Club shares for CBS Shares means you can cash them in at some other point, rather than club shares with not a lot you can do.

Safeguarding the ground is a tricky one, I presume all assets will belong to the club itself, although the DFCSG will own the major shareholding of the Club.

[lo36789]

http://communityshares.org.uk/ nd-out-more/what-are- community-shares

More info there. As I read it people are getting community shares which are specific to a certain objective. They earn interest and are also refundable

You need to be a member of the scheme - and that is what generates your voting rights. As a controlling party of the football club what the DFCSG say will go.

At the point you stop paying your membership you lose your voting rights. You don't lose your investment.

The foundation of the DFCSG/Communty investment is 1 member 1 vote. So as I understand it rather than people now havin 1,020 shares in DFC they now have 1,020 community shares. The club will have in turn transferred these shares to the DFCSG which increases their shareholding.

The actual thing does say that there is an asset lock brought in by the community share issue - I suppose the asset of the DFCSG is the Darlington FC 1883 and their asset is the football club.

[super_les_mcjannet]

That about covers it.

[liddle_4_ever]

As per the Netcafe a couple of weeks ago, the stadium we are building will be owned by DRFC.


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[shawry]

As per the Netcafe a couple of weeks ago, the stadium we are building will be owned by DRFC.


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Really, I completely missed that, so we could be raising funds for a new ground in 22 years then.

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[super_les_mcjannet]

As per the Netcafe a couple of weeks ago, the stadium we are building will be owned by DRFC.


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Really, I completely missed that, so we could be raising funds for a new ground in 22 years then.

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Not sure that is right and if so I missed it also and still missed it when skim reading back through, I did see the below which is as expected.

Who will own the pitch and land that the stands will be built on?

Answer

Darlington Rugby Club – remember that we are tenants.

[lo36789]

I have no idea who owns the actual fittings. But the land is still the rugby clubs - we have not bought that from them.

A lot of 'stuff' has been based upon the share if one party backs out they are going to owe an awful lot of money.

[shawry]

I have no idea who owns the actual fittings. But the land is still the rugby clubs - we have not bought that from them.

A lot of 'stuff' has been based upon the share if one party backs out they are going to owe an awful lot of money.

I guess, its more if we back out down the line we need to fund a new ground, if the rugby club do they'll need to reimburse for the improvements we have made.

I didnt think about that, it probably guarantees the will of both parties to ensure this lasts much longer than the initial licence, and thats quite reassuring

[Maurice_Peddelty]

http://communityshares.org.uk/ nd-out-more/what-are- community-shares

More info there. As I read it people are getting community shares which are specific to a certain objective. They earn interest and are also refundable

You need to be a member of the scheme - and that is what generates your voting rights. As a controlling party of the football club what the DFCSG say will go.

At the point you stop paying your membership you lose your voting rights. You don't lose your investment.

The foundation of the DFCSG/Communty investment is 1 member 1 vote. So as I understand it rather than people now havin 1,020 shares in DFC they now have 1,020 community shares. The club will have in turn transferred these shares to the DFCSG which increases their shareholding.

The actual thing does say that there is an asset lock brought in by the community share issue - I suppose the asset of the DFCSG is the Darlington FC 1883 and their asset is the football club.

The vido on the link is useful. There was one on the DFCSG website when the scheme was announced

[liddle_4_ever]

I guess, its more if we back out down the line we need to fund a new ground, if the rugby club do they'll need to reimburse for the improvements we have made.

Why would they have to reimburse us for improvements to the ground? I don't think that happens on rented or lease hold properties.