August 18th 2023
Yesterday, we all learnt from the statement from Clem Morfuni how the shareholding confirmation statement at Companies House originated.
It was great to hear from Clem on the matter in such detail. Whilst we can understand this needed to occur promptly to avoid potential administration, TrustSTFC is disappointed that the debentures were settled through a private loan secured against shares in the Club and the lack of transparency to this arrangement.
As the settlement of the debentures was critical to the Eady Trust releasing the funds to buy the County Ground, we would have expected the openness and transparency initially promised so that we were fully aware of the ownership structure of Swindon Town Football Club before entering the Joint Venture Agreement.
Clem has invested a significant amount of funding into the club to clear historic debts, which as a fanbase we are incredibly grateful for his support for our club. However, the information that came to light yesterday raises significant questions. As such, we are arranging a meeting with Clem to discuss and seek further details on the pertinent topics, which include:
- Seeking details of the loan agreement between Clem and all associated parties,
- Current status of the loan and shareholding status of Swindon Town Football Club and all associated holding companies,
- Establishing the roles and influence of key individuals at the football club,
- Guarantees and action steps to achieving the openness and transparency fans expect moving forward.
In conclusion to these discussions, we will publish a summary of the information gained to provide clarity to our members and the wider fanbase. We sincerely hope this is the beginning of a new era of openness and transparency between the Club and its supporters.
As fans of the club, we wish the team well in tomorrow’s game against Wrexham and hope all 3 points are brought back to Wiltshire!