TRUST CHAIR COMMENTS ON TWO MAJOR CLUB ANNOUNCEMENTS

' 1.2BILLION NEW SHARES BEING ISSUED & CARDIFF CITY DIRECTOR RESIGNS '

Saturday 19th November 2016

Trust Chair Comments On Two Major Club Announcements


The letter to shareholders advising of a meeting to approve the issue of 1.2 billion new shares is the next, and important step in the pledge by Tan Sri Vincent Tan to convert his debt into equity and greatly reduce the club`s liabilities. In February of this year he stated he would ”immediately” be converting £68m of the £108m then owed to him into shares, with the balance of £40m owed to be written off over 5 years at £8m a year. However, two factors have delayed the first, larger debt conversion.

There were not enough shares in issue to allow the conversion of such a large sum

The club`s board stated that the conversion required Malaysian Central Bank authority

The imminent increase in shares overcomes the first barrier referred to above. It is understood that the second barrier continues to be worked on but has not yet been overcome.

The second announcement was the resignation of Michael Filiou from the Cardiff City Football Club board (he never has been a director of Cardiff City Football Club Holdings board which is the decision making owner of the football club). This represents the end of a long-running dispute between the club and previous owner Sam Hammam for whom Mr Filiou acted as the “eyes and ears” and reporting source for Mr Hammam for the last three years. It follows the settlement of the liability due to Mr Hammam under which he had the right to appoint a board member.

Both of the above announcements are a positive step forward for the club

The Cardiff City Trust will continue to monitor progress with actual debt conversion and write off and report back to its members accordingly. Once actually done, it will be a huge financial boost for the club.

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I accept that VT has made some horrendous mistakes but we as a club are very lucky to have a man honourable enough to accept the responsibility and pick up the tab. I can't ever remember a debt free Cardiff City so this is a once in a lifetime opportunity to turn the fortunes of this club around and start with a clean slate.

Once this conversion is complete then anyone who still holds a grudge against him will simply be a bitter twisted individual who is only interested in their own personal feelings rather than the wellbeing of Cardiff City FC.

I accept that VT has made some horrendous mistakes but we as a club are very lucky to have a man honourable enough to accept the responsibility and pick up the tab. I can't ever remember a debt free Cardiff City so this is a once in a lifetime opportunity to turn the fortunes of this club around and start with a clean slate.

Once this conversion is complete then anyone who still holds a grudge against him will simply be a bitter twisted individual who is only interested in their own personal feelings rather than the wellbeing of Cardiff City FC.

Totally agree with you.

I accept that VT has made some horrendous mistakes but we as a club are very lucky to have a man honourable enough to accept the responsibility and pick up the tab. I can't ever remember a debt free Cardiff City so this is a once in a lifetime opportunity to turn the fortunes of this club around and start with a clean slate.

Once this conversion is complete then anyone who still holds a grudge against him will simply be a bitter twisted individual who is only interested in their own personal feelings rather than the wellbeing of Cardiff City FC.

True mate,f*cking true,a debt free club thats what we all want

I accept that VT has made some horrendous mistakes but we as a club are very lucky to have a man honourable enough to accept the responsibility and pick up the tab. I can't ever remember a debt free Cardiff City so this is a once in a lifetime opportunity to turn the fortunes of this club around and start with a clean slate.

Once this conversion is complete then anyone who still holds a grudge against him will simply be a bitter twisted individual who is only interested in their own personal feelings rather than the wellbeing of Cardiff City FC.

Like you Tony I can never remember a time when our club has been debt free or when we have had an owner so clearly committed to making the club so. It hasn't been an easy journey for VT and along the way he has had to take a lot of financial pain, settling the debts of Sam Hamman must have been a bitter pill to swallow, but he still remains committed to keeping the promise he made to us years ago.

We all make mistakes in life and VT has made some shockers at our club, but he takes the responsibility for them, and for me I don't need to wait for this debt to equity conversion to respect him for what he is doing for our club.

When we are finally Debt Free, I will Respect Vincent Tan for that :thumb right:


But I will never ever forget the Despicable Rebrand, I don't just blame Tan for that, a lot of the blame in my opinion lays with Nash/Jenkins,other staff members and def some of our fans etc
That still haunts me and can never be forgotten and thats how I feel.

Now there is a nice thought for May....

Swansea relegated. We win the Play Off Final at Wembley (and take their place in the Premiership) and when we do we go into the Premiership as a totally debt free club - capable of sustaining our place for several years

When we are finally Debt Free, I will Respect Vincent Tan for that :thumb right:


But I will never ever forget the Despicable Rebrand, I don't just blame Tan for that, a lot of the blame in my opinion lays with Nash/Jenkins,other staff members and def some of our fans etc
That still haunts me and can never be forgotten and thats how I feel.

Be great if and when this club becomes debt free. A long way to go for that to happen, and it will feel strange to see this club not being threatened with court action fo repayment of outstanding debts.

I accept that VT has made some horrendous mistakes but we as a club are very lucky to have a man honourable enough to accept the responsibility and pick up the tab. I can't ever remember a debt free Cardiff City so this is a once in a lifetime opportunity to turn the fortunes of this club around and start with a clean slate.

Once this conversion is complete then anyone who still holds a grudge against him will simply be a bitter twisted individual who is only interested in their own personal feelings rather than the wellbeing of Cardiff City FC.

Agree there has to be a line drawn under the red and move forward.

I accept that VT has made some horrendous mistakes but we as a club are very lucky to have a man honourable enough to accept the responsibility and pick up the tab. I can't ever remember a debt free Cardiff City so this is a once in a lifetime opportunity to turn the fortunes of this club around and start with a clean slate.

Once this conversion is complete then anyone who still holds a grudge against him will simply be a bitter twisted individual who is only interested in their own personal feelings rather than the wellbeing of Cardiff City FC.

Agree there has to be a line drawn under the red and move forward.

Always look forward not back, can't change the past. Mistakes are being rectified.

When we are finally Debt Free, I will Respect Vincent Tan for that :thumb right:


But I will never ever forget the Despicable Rebrand, I don't just blame Tan for that, a lot of the blame in my opinion lays with Nash/Jenkins,other staff members and def some of our fans etc
That still haunts me and can never be forgotten and thats how I feel.

I agree with the 'when' we are debt free. But once it is done (fingers crossed) then it is time to move on and as Stringfellow said time to draw a line under the red.

Annis at some point in your life you have made mistakes. So have I. We all do. The trick is to learn from them and respect those who admit to getting things wrong and attempt to put things right.

If you can't let the rebrand go then it is you which is in the wrong not VT/Nash or Jenkins. Still holding that grudge will render you guilty of being someone who is holding the club back, not the other way around.

This isn't anything personal against you but someone has to be straight with you and hopefully see you drop this pointless vendetta over the failed project that was the rebrand, it is over it's in the past

When we are finally Debt Free, I will Respect Vincent Tan for that :thumb right:


But I will never ever forget the Despicable Rebrand, I don't just blame Tan for that, a lot of the blame in my opinion lays with Nash/Jenkins,other staff members and def some of our fans etc
That still haunts me and can never be forgotten and thats how I feel.

Be great if and when this club becomes debt free. A long way to go for that to happen, and it will feel strange to see this club not being threatened with court action fo repayment of outstanding debts.

Steve, It would be Superb, but still a long way to go.

When we are finally Debt Free, I will Respect Vincent Tan for that :thumb right:


But I will never ever forget the Despicable Rebrand, I don't just blame Tan for that, a lot of the blame in my opinion lays with Nash/Jenkins,other staff members and def some of our fans etc
That still haunts me and can never be forgotten and thats how I feel.

I agree with the 'when' we are debt free. But once it is done (fingers crossed) then it is time to move on and as Stringfellow said time to draw a line under the red.

Annis at some point in your life you have made mistakes. So have I. We all do. The trick is to learn from them and respect those who admit to getting things wrong and attempt to put things right.

If you can't let the rebrand go then it is you which is in the wrong not VT/Nash or Jenkins. Still holding that grudge will render you guilty of being someone who is holding the club back, not the other way around.

This isn't anything personal against you but someone has to be straight with you and hopefully see you drop this pointless vendetta over the failed project that was the rebrand, it is over it's in the past

Tony, Like we all say when we are debt free and when we are that will be a great day for Cardiff City Football Club I will as I said Respect Tan for that and yes I've made mistakes in my life, many in fact and have moved on in my life.
I believe Tan realizes his mistakes as well, as to some in my opinion they did it for their own personal gains and that I can't forgive.
Having Neil Warnock here has once again got me back to enjoying my football and us going forward

Tan could of been the biggest hero Cardiff had ever seen. But instead he is the most hated person ever to set foot in the City. He could win the Prem and 3 European Cups now and he would still be hated. Sad but true.

Perhaps in your view but i for one don't hate him - yes he's made mistakes but also done a lot of good much more than some previous owners