div

As a stakeholder with 27% and two directors on the board who will help to create that business plan and budget I don't really see much to worry about, no.

Not during the transition phase when there will be no clear majority shareholder.

If Kibble wasn't giving Gordon £300K then SMiSA would be. The only real tangible benefits I see Gordon getting out of this is; 1) He is getting his money earlier than he thought 2) He's shifting the 8% of shares he'd have been left with in the original proposal The shares he is selling to the Kibble are not an asset of the company, they are an asset of Gordon Scott. The assets that Kibble are getting access to WILL benefit them, but they WILL also benefit St.Mirren Football Club.

The veto clause is as much to protect SMiSA, and the club, as it is to protect the interests of Kibble. It only affects the following explicit decisions; appointments or removals of a director of the club the sale of the stadium, changes to the club’s name, colour or badge, changing the club’s grass pitch to astroturf, and the appointment of major sponsors; any major borrowings, major contracts outwith the normal course of business, and approval of the club’s business plan; any major structural changes to St Mirren as a company, such as any reorganisation of its share capital, or changes to the club’s articles of association. I think that's all pretty fair. The major sponsors one is the only one I'd have any concerns about but again I'd assume the clause is in there to protect SMiSA and the club as much as it is to protect Kibble. Be very easy to email SMiSA and ask for clarification.

I don't think £300K is a huge investment for a company with a £30m annual turnover. They spent £3m building a go-kart track for example. Kibble get to utilise the infrastructure and brand of the football club and it's reach into the community to benefit the young people it is looking after. I'm sure that must be saving them some money along the way as well as improving the experiences they can provide those kids with.

That is correct, it will be for the SMiSA members to decide on subscription levels post completion of the takeover, being guided by the SMiSA committee. The membership subscriptions after BTB would be to fund the operating infrastructure of SMiSA, and I guess to continue with the very successful discretionary spend pot, plus perhaps something for a "rainy day fund". I don't expect that to run to £20K a month. The subscription fee will reduce, because we won't be saving up to buy a football club. It's really that simple.

"Gordon’s intention was always to hand the ownership of St Mirren over to the fans by 2026 – but he believes Kibble can bring major benefits to the club and he is willing to give up the powers he has as owner earlier than planned to let that happen. As per the legal agreement, Gordon will continue as chairman during the transition. He is a hands-on owner with a key role in club operations, so his knowledge will remain crucial. As discussed above, we may ask the board in place at takeover to continue, meaning Gordon – assuming he wanted to – would continue as chair. If so, his role would have a different dynamic than at present – he wouldn’t be the owner and would no longer be party to the shareholders agreement. Gordon is aware the power to decide who is on the board beyond 2021 lies with SMISA and Kibble." Taken from the SMiSA website Kibble Q&A (2.5).

Gordon owns 50.1% of the shares in the club today. SMiSA owns 28.3% of the shares in the club today. Under original proposal SMiSA was buying 42% from Gordon, taking them up to 71% and leaving Gordon with the original 8% he had before he bought the additional shares from SG & Co. Under new proposal SMiSA will instead buy 22.7% from Gordon leaving them with 51% in total. Gordon would sell the rest (27%) to Kibble leaving himself with a fraction of a percent. To be clear the stake Kibble are proposed to buy is 27% of the club. It's over half of Gordon's current shareholding.

That's true. Perhaps something to discuss with SMiSA?

It's pretty simple arithmetic here Stuart. SMiSA are paying £300K less than they were originally going to. They are now buying 51% instead of 71%. Surely you agree with that? SMiSA membership fees will continue, that is true, but I can guarantee you that they won't be at the same level as they are now. There will be no need for SMiSA to take in £20K a month after the shareholding purchase is complete. It's really not rocket science. Membership fees will reduce, thus each SMiSA member will personally make a saving.

So will SMiSA.

The BTB purchase price will reduce by £300K if the Kibble proposal passes. That is shares that SMiSA no longer need to purchase. 1200 members will thus save themselves £250 a head. SMiSA will always have a membership subscription even after BTB concludes. It always has since the day it was founded. It won’t be at the same level as it is now, because we won’t be saving up to buy a majority shareholding.

Respect your opinion mate. As a fellow SMiSA member you’ve taken the time to weigh up the proposal and have decided it’s not for you. I dont really mind either way if it goes through or not. We will be fan owned with or without Kibble. If it takes a few more years then so be it. I won’t be losing any sleep over it either way!

Yeah, sorry, I’m not sure where I got the idea that you didn’t like Gordon Scott from. I’ll take that back 😂 As far as I can see the SMiSA committee are asking the members to decide on the proposal. If the members don’t back it, then it doesn’t happen. I think this is called democracy. The committee believe this proposal enhances BTB. It’s up to the members to decide if they agree or not. That’s how this is supposed to work.

Let’s not forget that Kibble are also saving SMiSA members £300K, an average of £250 a head. We probably also shouldn’t overlook the fact that as 51% shareholders, SMiSA will have the majority shareholding of the football club, and thus the football club will be, by definition, “fan owned”. By the end of next year. And its maybe worthwhile remembering that we get the benefit of the expertise and infrastructure of a 140 year old organisation who have a turnover 10 times the size of the club, working with us. And we get all of this, with a partner who is not driven by profit, but rather one that exists to help young people develop and prosper. Blind? Blinded by a personal grudge with the chairman I’d say.

Correct!

I cast my vote this morning, made up my mind over the weekend after reviewing all the information to hand. Comfortable with my own decision but if the majority vote the other way I won't lose too much sleep over it.

"Get first Dibs" - as in the members would need to vote to sell them to Kibble? Yeah, a massive concern. A concern right up there with a big meteor hitting St.Mirren Park.

So selling £300,000 of budgeted assets is fine and won't harm the team... but someone asking for a refund of a few hundred will? The shares Kibble are buying belong to Gordon Scott. In what way is that a "budgeted asset" 😂 That's kind of the way it works, yeah. Same as you don't get any say on who owns ASDA just because you do your shopping there every week 😂 Fuck me, some of this stuff is absolutely hilarious!

If only you hadn't thrown your toys out the pram and walked away you'd have been able to ask that yourself. Oh well.

Div wants everyone to review the facts of the proposal and to make their own minds up about what way to vote. Div doesn't mind if the proposal is defeated or accepted. Either way Div will be a SMiSA member for ever more. Div doesn't do walking away. Don't speak for Div thank you very much, Div can do it for himself. ps; Let's not forget that Div is giving you the public platform to absolutely slate the Kibble, SMiSA, the club, the board and the chairman. I'm all for free speech.

Sounds like the presentation went very well last night going be reaction I’ve read. Look forward to the video being published for everyone to see. I’d love to think that the proposal, if it goes through, actually convinces more fans to join SMiSA. I’d also hope that whatever way the vote goes, that the existing 1200 members stay committed and part of a project that has already done so much good for the club and in the local community. The £2 spend on its own has been an absolutely brilliant initiative.

Owning 51% of the shares is fan ownership. If it’s good enough for every club in Germany, it’s good enough for us IMO. Bringing fan ownership in 5 years ahead of schedule, saving the fans £300K in the process, and getting to benefit from the infrastructure and expertise of a £30m turnover partner and all the while giving a hand to young people in need sounds like a big win to me.

Up to you mate, and I respect your opinion. Fan ownership was why I signed up to BTB, and fan ownership is very much being delivered with or without Kibble.