10000hours

We are going to sleep on putting a full statement out tonight but will say this for just now. We made the very best offer we thought was both Sustainable and deliverable of £1.25m. We based the value and the structure of the bid based on the Commitments and Finance that we had. It is obviously extremely disappointing to have had our bid rejected especially having gone through the whole process of raising the fabulous level of support from the Fans for a second time having missed out by such a narrow margin the first time around. Thanks again to all those (both those for it and against it) that engaged in the process and the debate.

We will make a statement this afternoon after we have had a chance to consider the rejection of this offer. Obviously there are a lot of disappointed folk who backed us and we need to take stock.

The legal set up pre any ownership of the 52% of the shares is as you describe above. However as you may have read within the Draft Articles upon their adoption and the takeover of the shares each member is issued with a "member" share. This creates the correct number of shares within 10000hours from the current 100 to say 1100, and locks in the Coop one member one vote nature of the organisation. It is a long established process that is used for all these sorts of organisations that are initially created with 100 shares but that end up with many more members. This happens in tandem with any takeover so that if the Shares are bought by the CIC they will be owned via the CIC by the members

Yes we are. If you are using the old look up system on the regulators website there was an issue becuase it was alphabetical Tabs A-Z and as our name is a Number we did not appear on their directory.

It is not a CIC meeting. It is a meeting organised by the Club Board for Shareholders/Season Ticket Holders and Supporters. If anyone is in any of those categories then come along

It will be a meeting for all points to be made I am sure so make sure you make it

The small car park will be. I will ask the question about the large Car Park

I would bring a coat if you are coming on Tuesday it is possible that the meeting may need to be held in the Stands if it is a busy as I think it could be.

Completely refute. By all means ask the others who are named in the statement who were at the meeting. I suggest you come to one the Club meetings on Monday or Tuesday as appropriate to make your points and hear what will be said

We would encourage as many people as are able to take up the offer of attending a Club meeting with the Board on Monday and Tuesday next week as appropriate. http://www.saintmirren.net/pages/?p=13401 Shareholders meeting http://www.saintmirren.net/pages/?p=13407 Season Ticket and supporters meeting It is short notice but as the note says "only today" is the Board "in reciept of enough information to make valued decisions"

Over the last 24hours there have been articles in the press and media which have caused people to question the integrity of 10000 hours. The following statement clarifies our position. STATEMENT The 10000hours team can confirm that no one on the team had seen the document or proposal reported by STV regarding the SFL document. We also confirm that the team undertook the polling of all members in good faith. At the meeting that Tony, Dave Gordon and Richard attended with the selling consortium last Thursday we were informed that no decision had yet been reached by the Board collectively as to how the SMFC vote at the SPL would be cast. We agreed with the selling consortium to take a poll of 10000hours members to give the board of SMFC a guide as to how the fans felt about the situation. We have carried out that request and have presented the board with the results. As you can see from the following official statement they have listened to the results of that poll and have confirmed that as yet there has still been no decision made. http://www.saintmirr.../pages/?p=13398 We welcome the boards decision to openly discuss the situation with both the season ticket holders and shareholders next week (see the links below) and thank all our members for their input to the poll which has undoubtedly had a bearing on this decision.

I can honestly say the only edits made were where people had signed off the comments section with their names and only one edit was made for a language reason.

If you are a signed up member of the CIC you should shortly recieve an emailed copy of the results and comments that were left. It makes a really good read Thanks to all who took part.

Folks thanks already for the vast number of emails even recieved this morning regarding this mornings statement, in particular with ref to NewCo issues. We will revert as soon as possible with regards to how we will consult with the 10000hours members and feed that information back to the board of SMFC. However be categorically assured that no part of any part of our proposal relies on Either a YES or a NO vote what has been agreed is that it is most prudent, as the whole situation is going to be clarified very soon, to wait for the actual facts to become avaliable to everyone, the Fans the Club the Selling Consortium and the CIC

oooppps

Thank you to everyone who has backed our bid to purchase the majority shareholding of St.Mirren Football Club. With close to 1,000 members now signed up and having achieved 150% of our original fundraising target for individual subscriptions we have a clear demonstration that the St.Mirren supporters back our bid to bring fan ownership to the football club. We have a meeting planned with the selling consortium this afternoon. As you can imagine this remains a competitive bidding situation. We are at a delicate stage of the process and negotiations can take time to complete. We will provide a further update in due course as soon as we have something to report. Thank you for your patience and again for your continuing support

Could not have said it better.

No money has been taken from anyone at this point all Direct Debits are dated 31st July and if deal does not happen they will be cancelled and no money taken.

We will offer what the numbers tell us we can afford. We believe 1.5m is possible and that is the deal "agreed in principal" and what we are working to but monday will be key day.

the 87club and 1877 is developing all the time. For example we just had another 87 club in the last hour so we are now 3k better off than Friday. It obviously takes a bit of a chat and discussion for folk to sign up to 87 and 1877 but on Monday we will assess the situation and crack on and keep everyone fully informed. Bottom line just now is the more pledges we get in all categories the better for bringing this deal to a conclusion next week.

YES

Div deserves a great deal of credit from all of the 10000hours team for his help in getting where we are now. It is not over yet there is still a good bit of the journey left so keep pledging and keep at those you know that have not yet engaged in this process and encourage them to at least consider what is trying to be done. There are still many people who have not yet made a decision...we have the weekend to get the numbers we need. Have a great weekend and 10000 Thanks!

Yes we have emailed those registered. You can also download a papercopy from the site and we can do it electronically for you

please keep questions coming this morning, we will try and answer as quickly as possible