Own the Force Campaign Launched

[yungfen]

Exile's post in the other thread suggested that some people are forming syndicates to buy a share. Might be an option for TWF to form a syndicate to purchase a share? Although how you'd go getting everyone to agree on anything would be a challenge.

Perhaps we should start a thread to check who is not in a position to buy a full share but keen on joining up with others to get one. Not too sure how the member benefit would be split though...

[GIGS20]

I'd be happy to stump up what cash I can and I don't mind who handles the voting.

Darren could even set up a poll for any question which the shareholders have in advance.

[agrugger]

I just finishing reading the prospectus (the first time I have ever read an entire one) and here are my big take aways:
Disclaimer:I am not a finance guy, I'm an engineer so please read it yourself and consult someone with way more knowledge than me.

1. This company does not currently own the Force. The idea is to raise money (via selling shares) to negotiate with the ARU to buy the Force (operating rights, IP, assets, etc.). There is a risk that the ARU might not sell the Force to the company (for whatever reason). If that happens, the board of directors will decide the next coarse of action. This means that they may try to raise more funds to make a higher offer, try to buy another team, try to start a new team, or many other options. If they are unsuccessful in acquiring the Force and decide to fold the company, then the money will be returned to the shareholders (minus expenses incurred which as of now is only the $200k for the IP).
2. There is no limit to how many shares an individual can buy, but a max of 15,000 will be sold. If the minimum of 5,000 is not met, the IP will not happen, the company will fold, and you get your money back. Also, the board has the authority to deny shares to anyone for any reason. So just because you put in your application, doesn't mean you will get a share. And if you apply for more than one share, they can award you all, none, or a partial number of your request. So there is the risk to us that some rich guys will get together and buy a good chunk of shares to acquire the seat at the table (next point).
3. If the company is successful in buying the Force, they will setup an Owner's council in which 2 shareholders will be elected from the lot. In order to be elected, you must be nominated by 20 different shareholders (which means we need a TWF movement) and then a vote of all shareholders. Each shareholder gets one vote for each share they own. So the rich guys or syndicates will have some power here to get a rep on the council.
4. What a seat on the council gets you: "it is intended that the body will meet with the CEO and Board on 2-4 occasions annually providing feedback on a range of issues such as:
• Match day experience
• Team performance
• Adherence to the Western Force philosophy
• Consultation when key staff appointed"
5. Benefits to share holders:
12.6.1 10% discount on annual season tickets per
A Class Share, with an additional 2% discount for
each additional A Class Share up to a maximum
25% discount. Shareholders of 20 or more A Class
Shares are also entitled to two free season tickets
for five years;
12.6.2 10% discount on annual community rugby
club registration fees;
12.6.3 10% discount on all the new Western Force
official merchandise;
12.6.4 priority access to all the new Western Force
tickets and Wallaby test matches; and
12.6.5 the new Western Force ‘Owners Pack’,
including limited edition merchandise.
6. RugbyWA has received a founder's share already. This gets them 3 seats on the Board of Directors
7. Right now the Board of Directors is made up of all RugbyWA guys.
8. The Board recognizes several risks, most of which are generic (health of Perth economy, health of rugby globally, etc). The main risk being performance on the field is the most significant contributor to the success of the company. And the success on the field is directly linked to recruiting and coaching.

All in all, I commend the group for putting forth a solid effort in the endeavor. While my 1 share may not make a big impact, hopefully we hit the maximum shares and can buy our team back from the ARU.

[agrugger]

Will these shares pay dividends?

Actually the prospectus state that there is a potential for the shares to pay dividends. But I wouldn't bank on it. Hopefully the board would reinvest that money into the team instead of distribute it.

[maelkann]

Anyone picked up any errors yet? Table accompanying 5.7, I think, should have the last line as 10,001, but this isn't a massive problem...

[blueandblack]

Actually the prospectus state that there is a potential for the shares to pay dividends. But I wouldn't bank on it. Hopefully the board would reinvest that money into the team instead of distribute it.

The only dividend I want is the continuation of The and for the team to be very successful.

[Alison]

Anyone picked up any errors yet? Table accompanying 5.7, I think, should have the last line as 10,001, but this isn't a massive problem...

Quite a few typos in the Chairman's letter! The letter also referred to the "Road Safety Council" when I think it should have referred to the Road Safety Commission.

[DazloT]

Anyone picked up any errors yet? Table accompanying 5.7, I think, should have the last line as 10,001, but this isn't a massive problem...

I believe that its the total number of shares in the company. Made up off the 10,000 issued to the public plus the one share the is held by RugbyWA (to form the company), hence 10,001.

[FingerTips]

The western force owners Pty ltd will be a completely separate entity to the ARU or Rugbywa (although rugbywa is a shareholder of 1 share).

The funds from the shares are going to be used to buy the IP from the ARU. The ARU will have no access to any fuds except for what we have paid to them.

If the force are cut from super rugby all monies are returned to the shareholders.

The main risk is if SANZAAR decide to cut the Force after we have bought the IP from the ARU(I.e. In 2020) then only what is left would be returned to shareholders. Although I imagine that the ARU would compensate the company in some form and that would be returned to the shareholders.

Hope that makes sense.

From the Prospectus:

"8.11 The Company’s business relies on the grant of the Western Force licence, to participate in the Super Rugby competition. The operating licence has not been granted and the terms of the licence are yet to be negotiated with the Australian Rugby Union."

"8.12 The Company has approached the Australian Rugby Union to commence discussions in this regard. The Company has not received any commitments by the Australian Rugby Union that it will grant the operating licence or transfer any other assets relating to the Western Force to the Company."

"8.13 Applicants should be aware that if the Company is not able to secure an operating licence in respect of the Super Rugby licence and other associated assets and contracts to operate the Western Force on terms to the Company’s satisfaction, the Company intends to reassess its objectives and business plans and consider where appropriate, winding up of the Company and returning capital to the shareholders. There is no guarantee that the shareholder will receive any of the monies the shareholder has paid by way of subscription of the A Class Shares on a winding up of the Company."

My underlining in the above.

I cannot find in the Prospectus any statement about what will happen if the Western Force is dropped from the Super Rugby competition.

[Tonkar]

I am a bit like Finger tips about what happens if SANZAAR decide to reduce teams after this media deal???
Will we be treated equally as like the other 4 teams in the comp. RE: player payments and remuneration as the other clubs in Australian SR conference ..
Also I don't trust the ARU at present.. I am keen to invest if we get a ARU or SANZAAR confirmation that West Australian rugby will be respected...

[maelkann]

I believe that its the total number of shares in the company. Made up off the 10,000 issued to the public plus the one share the is held by RugbyWA (to form the company), hence 10,001.

The line is printed as 'without oversubscription' as 15001, where it was made clear earlier that the last 5000 is the oversubscription.

Plenty of coaching staff names wrong too, making me think they were said over a phone or heard rather than written down.

Anyone know what level of season pass you get for having 20+ shares?

[Leo86]

Where is the application form?

It says it is attached to the prospectus but with my limited knowledge, i cant find it.

[blueandblack]

Where is the application form?

It says it is attached to the prospectus but with my limited knowledge, i cant find it.

Its not there or on the website. I assume they will upload a proper document eventually - and open the online payment system too. I've tried multiple times today to do an online signup, but nothing is there for this. Maybe it'll be a midday media event.

[kipper_mckinnon]

I'm similar to Gigs.
Very happy to buy, but wont be able to find $1,000 in a lump.
Is there definitely a "pay monthly" plan?

[Leo86]

prospectus exposure period has been extended by approximately 1 week