200127 January 2012
The Sheffield Wednesday Supporters' Society functioning under the name of 'The Owls Trust' is set up. At the time, Sheffield Wednesday club directors Dave Allen, Keith Addy and Geoff Hulley bought an amount of shares in the club equal to 36.7% of the total share capital of Sheffield Wednesday PLC, from investment company Charterhouse. The purchase of more than 29.9% of any company triggers a mandatory bid for the remaining shares in company law, however to avoid making such a bid, a portion of those shares equal to 9.46% of Sheffield Wednesday PLC were donated to the fledgling fans' trust.
200427 January 2012
The organisation angered then chairman of Sheffield Wednesday, Dave Allen, as well as many Wednesday fans, by being perceived to support a takeover bid by Ken Bates. However, the organisation - in particular its chief executive John Hemmingham and chairman Jim Harrison - maintained that it was not supporting a takeover, but was supporting the principle of allowing potential investors, including Ken Bates, access to relevant documents in order to formulate an educated bid for the company. This feud resulted in the trust being evicted from their offices in Hillsborough.
200327 January 2012
The Owls Trust increase their shareholding in the club to 10.07% through purchasing shares from the wider SWFC community. This takes them over the ten per cent threshold by which they would have to be consulted on any full takeover, and would have the ability to call an EGM if they wished.
200527 January 2012
In September, the former Sheffield Wednesday Chairman, Dave Allen, offered to buy Wednesdayite's share of the club for around £330,000 (which would be put back into the playing squad budget). However Allen refused to address a Wednesdayite members' meeting to discuss this purchase and additionally it was not made clear how any ensuing Capital Gains Tax would be paid to the Inland Revenue, which would possibly leave the Supporters' Trust in tens of thousands of pounds' debt. Wednesdayite members democratically voted in favour of rejecting the offer.
200527 January 2012
In light of previous perceptions of the organisation, The Owls Trust received a number of candidates for its board elections in May and once elected, the new board rebranded the organisation to a much more fan-friendly name of 'Wednesdayite' in August 2005. Jim Harrison was replaced at this same time as Chairman by Darryl Keys, a former merchant banker with responsibility for Sports Finance.
Despite regular attempts to communicate with the club's directors (as dictated by the members who voted massively in favour of working with the incumbent board) many in that board were still hostile to Wednesdayite.
Whilst Wednesdayite's 10.07% shareholding was regarded as a valuable asset for a supporters' trust by the Government initiative, Supporters Direct and their member trusts, the Society courted a lot of controversy with the Sheffield Wednesday board and sections of fans.
200727 January 2012
In July Wednesdayite were accused by Dave Allen of being responsible for the collapse of a takeover by former Everton director Paul Gregg due to their shareholding, a claim which Wednesdayite denied. In the months and years that followed, Wednesdayite balloted both members and non-members to gauge opinion on their shareholding across the entire fanbase; and held a vote to decide if members would be willing to listen to offers from any new investor.
Members voted in favour of listening to offers and Wednesdayite, on 2 October also pledged their shares to a scheme backed by the Sheffield Wednesday Shareholders Association to listen to any offers from new investors willing to achieve a 51% shareholding in the business.