div Posted April 17, 2012 Report Share Posted April 17, 2012 Just posted on the 10000Hours website; http://www.10000hours.org/news/132-sign-up-night-april-19th Chance for fans to come down, ask questions about the bid and hopefully sign up to join the 1027 who have currently pledged. I believe around 800 of those pledgers have now returned their direct debit forms. If you have already pledged and returned your DDs then it's also a chance to come down and get a brief update from Richard on the progress that has been made and some details on the '87 club offering that will be launching very soon. This won't be a death by powerpoint night, it's about answering questions, hopefully leading to sign-ups. The event is being publicised in the PDE, hopefully meaning the message gets through to some of the offline saints community. Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted April 17, 2012 Report Share Posted April 17, 2012 I don't see why 10000Hours sees it as a priority to publicise thing through the PDE... I would imagine that more Saints fans will buy other papers ahead of the PDE... I occasionally look online at the PDE website for St Mirren news, but if we are trying to attract those who don't do the BAWA, official site, facebook etc should we not be publicising this in the Herald, Record, Sun, Scotsman etc? Quote Link to comment Share on other sites More sharing options...
santaponsasaint Posted April 17, 2012 Report Share Posted April 17, 2012 I don't see why 10000Hours sees it as a priority to publicise thing through the PDE... I would imagine that more Saints fans will buy other papers ahead of the PDE... I occasionally look online at the PDE website for St Mirren news, but if we are trying to attract those who don't do the BAWA, official site, facebook etc should we not be publicising this in the Herald, Record, Sun, Scotsman etc? Might be that the PDE is a local newspaper, Just a guess mind you, Quote Link to comment Share on other sites More sharing options...
div Posted April 17, 2012 Author Report Share Posted April 17, 2012 I don't see why 10000Hours sees it as a priority to publicise thing through the PDE... I would imagine that more Saints fans will buy other papers ahead of the PDE... I occasionally look online at the PDE website for St Mirren news, but if we are trying to attract those who don't do the BAWA, official site, facebook etc should we not be publicising this in the Herald, Record, Sun, Scotsman etc? I agree that widest possible publicity is what is required here. Sure supermac will do a wee turn in the Herald if someone asks him to ! Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted April 17, 2012 Report Share Posted April 17, 2012 (edited) Might be that the PDE is a local newspaper, Just a guess mind you, So is the Gazette and the Gryffe Advertiser... are you saying more Saints fans will avidly read those local publications compared withe the national daily newspapers or BBC and STV and Sky? Maybe we should set our sights ultra local and aim for a 2 page splash in some of the parish church newsletters? Edited April 17, 2012 by Dibbles old paperboy Quote Link to comment Share on other sites More sharing options...
div Posted April 17, 2012 Author Report Share Posted April 17, 2012 I can't go, wife out at some Beatson dinner thingy so I am home with the kids Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted April 17, 2012 Report Share Posted April 17, 2012 I don't think I would have gone anyway - the launch of the 87 club, whilst interesting isn't something that is going to be of any use to me. As it happens I'm working anyway. However what I'd love to hear more of at this stage is what role Community Members are going to play in the new model since the £10000 and the £500 levels appear to have been scrapped. To me there always was an obvious mutual advantage to the Corporate Members have a natural link with Community Members and I'd like to think that 10000hours was going to be strongly involved in those areas. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 17, 2012 Report Share Posted April 17, 2012 I can't go, wife out at some Beatson dinner thingy so I am home with the kids I'll do the live online updates for you providing I get free license to paraphrase. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted April 18, 2012 Report Share Posted April 18, 2012 (edited) Inverness recently announced a new investor who put in £250,000 and got a seat on the Board. Would the CiC ever endorse a development whereby it's shareholding dropped below 52%? Won't the takeover by the CiC, realistically, prevent any further investment from outside parties? http://www.bbc.co.uk...otball/17555683 Edited April 18, 2012 by Bud the Baker Quote Link to comment Share on other sites More sharing options...
div Posted April 18, 2012 Author Report Share Posted April 18, 2012 Inverness recently announced a new investor who put in £250,000 and got a seat on the Board. Would the CiC ever endorse a development whereby it's shareholding dropped below 52%? Won't the takeover by the CiC, realistically, prevent any further investment from outside parties? http://www.bbc.co.uk...otball/17555683 Would be nothing stopping someone investing £250k in 10000Hours and then standing for election to the board same as anyone else ? No chance of letting the shareholding drop below 52% in my opinion. If anything I'd expect the shareholding to increase if they can work out a plan to swap equity in 10000Hours for the shares of the 48%. That would get a whole lot more people onside IMHO. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted April 18, 2012 Report Share Posted April 18, 2012 Would be nothing stopping someone investing £250k in 10000Hours and then standing for election to the board same as anyone else ? Absolutely! No chance of letting the shareholding drop below 52% in my opinion. If anything I'd expect the shareholding to increase if they can work out a plan to swap equity in 10000Hours for the shares of the 48%. That would get a whole lot more people onside IMHO. Not me - I support Saint Mirren Football Club not 10000hours. The two are different and in my mind always will be. Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 18, 2012 Report Share Posted April 18, 2012 Inverness recently announced a new investor who put in £250,000 and got a seat on the Board. Would the CiC ever endorse a development whereby it's shareholding dropped below 52%? Won't the takeover by the CiC, realistically, prevent any further investment from outside parties? http://www.bbc.co.uk...otball/17555683 i have posted at http://www.10000hours.org/forum/question-and-answers/160-cic-debt about this Quote Link to comment Share on other sites More sharing options...
div Posted April 18, 2012 Author Report Share Posted April 18, 2012 Not me - I support Saint Mirren Football Club not 10000hours. The two are different and in my mind always will be. Fair enough. I do however think a lot of the existing 48% of shareholders would be glad of a scheme where they could exchange their St.Mirren shares for equity in 10000Hours. They could then stand for election to the board if they wished, something nmost of them would never get the chance to do in the current setup, and they get the opportunity further down the line to actually recover some of their investment in the (admittedly unlikely) event that 10000Hours paid a dividend to shareholders. Some of the 48% will prefer to hold on to their St.Mirren FC Ltd share certificate and that is their right ! Quote Link to comment Share on other sites More sharing options...
bluto Posted April 18, 2012 Report Share Posted April 18, 2012 Inverness recently announced a new investor who put in £250,000 and got a seat on the Board. Would the CiC ever endorse a development whereby it's shareholding dropped below 52%? Won't the takeover by the CiC, realistically, prevent any further investment from outside parties? http://www.bbc.co.uk...otball/17555683 It's 4 overseas Invernessians, AFAIK, who comprise Muirfield (?) Consortium. The guy mentioned willl prob be their rep.I thought this thread was going to be a Sisyphean effort for div to keep it rolling but he's got the babysitting angle in early, to explain why he's no gaunie answer EVERY question all the time.... Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted April 18, 2012 Report Share Posted April 18, 2012 (edited) I thought this thread was going to be a Sisyphean effort for div to keep it rolling but he's got the babysitting angle in early, to explain why he's no gaunie answer EVERY question all the time.... It all seems pretty clear to me - the consortium's new selling price is £1.75M. Social funding will provide £1M and the deal will go ahead if the CIC can deliver the other £750k within 2 years from a combination of donations (SMiSA), the 87 club, monthly subscriptions and money generated by the void. There obviously exists a protocol for dividing up the monies generated by the void between the community partners, the club and the CIC but I'm sure the details will have to remain cofidential. I've always been a sceptic and will not be joining the CIC but I would like to express my thanks to div & 10000hours for taking the time to explain it all to me - you're a pair of gentlemen and I hope my reservations turn out to be unfounded and that the CIC is a success! Edited April 18, 2012 by Bud the Baker Quote Link to comment Share on other sites More sharing options...
Scott Lyle Posted April 18, 2012 Report Share Posted April 18, 2012 It all seems pretty clear to me - the consortium's new selling price is £1.75M. Social funding will provide £1M and the deal will go ahead if the CIC can deliver the other £750k within 2 years from a combination of donations (SMiSA), the 87 club, monthly subscriptions and money generated by the void. There obviously exists a protocol for dividing up the monies generated by the void between the community partners, the club and the CIC but I'm sure the details will have to remain cofidential. I've always been a sceptic and will not be joining the CIC but I would like to express my thanks to div & 10000hours for taking the time to explain it all to me - you're a pair of gentlemen and I hope my reservations turn out to be unfounded and that the CIC is a success! Hear hear BTB. Good post. Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted April 19, 2012 Report Share Posted April 19, 2012 Richard was on BBC Sportsound before tonight's meeting and the podcast is now available. Chick Young now has Jim Spence calling it the Click bid too but Richard managed to recruit Chick to the 87 club! Quote Link to comment Share on other sites More sharing options...
Kombi Buddie Posted April 19, 2012 Report Share Posted April 19, 2012 (edited) if Would be nothing stopping someone investing £250k in 10000Hours and then standing for election to the board same as anyone else ? No chance of letting the shareholding drop below 52% in my opinion. If anything I'd expect the shareholding to increase if they can work out a plan to swap equity in 10000Hours for the shares of the 48%. That would get a whole lot more people onside IMHO. When St Mirren done a share issue, I bought the shares so that I could achieve becoming a shareholder in the football club I love & support. Hell will freeze over before I voluntarily sell those shares & I will walk on the moon after hell has frozen over before I swap my shares for equity in a company/CiC {10000} hours that is not St Mirren. If we swap our shares in St Mirren for equity in 10000 hours & 10000 hours goes tits up, we are told the deal gets renegotiated or if the 52% shareholding owned by 10000 hours was sold instead, I will then have forsaken my {however minute} shareholding in St Mirren to 10000 hours and i'd no longer be a St Mirren FC shareholder. No thanks. Edited April 19, 2012 by Kombi Buddie Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted April 19, 2012 Report Share Posted April 19, 2012 if When St Mirren done a share issue, I bought the shares so that I could achieve becoming a shareholder in the football club I love & support. Hell will freeze over before I voluntarily sell those shares & I will walk on the moon after hell has frozen over before I swap my shares for equity in a company/CiC {10000} hours that is not St Mirren. If we swap our shares in St Mirren for equity in 10000 hours & 10000 hours goes tits up, we are told the deal gets renegotiated or if the 52% shareholding owned by 10000 hours was sold instead, I will then have forsaken my {however minute} shareholding in St Mirren to 10000 hours and i'd no longer be a St Mirren FC shareholder. No thanks. If the CIC gets control of 90% of the shares they can force a sale of the remaining shares and de-list the company. You'd get next to nothing, if not nothing for your shareholding. Not that I'm saying you should give up your shares if you don't want to, it's just something to be aware of if the likes of Ken McGeoch and Gordon Scott do swap shares for equity. Quote Link to comment Share on other sites More sharing options...
Kombi Buddie Posted April 19, 2012 Report Share Posted April 19, 2012 If the CIC gets control of 90% of the shares they can force a sale of the remaining shares and de-list the company. You'd get next to nothing, if not nothing for your shareholding. Not that I'm saying you should give up your shares if you don't want to, it's just something to be aware of if the likes of Ken McGeoch and Gordon Scott do swap shares for equity. I wasn't sure what % such a scenario this situation could happen at. The day I sent the cheque, I accepted it was money down the swannee. I don't think it would be in anyones interests for 10000 hours to obtan the remaining 48%. So hopefully, such a situation never arises. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 19, 2012 Report Share Posted April 19, 2012 I wasn't sure what % such a scenario this situation could happen at. The day I sent the cheque, I accepted it was money down the swannee. I don't think it would be in anyones interests for 10000 hours to obtan the remaining 48%. So hopefully, such a situation never arises. I don't think many people will take that offer up either. Not so much for the reason you cite, which I think is actually a very good point and respect for that position. I think they will add to their existing support of the club with either the monthly membership and a few will opt for the 87 club membership. Most will view it as a new share issue with additional benefits. When we needed cash back when we were in trouble and we had the initial Q&A sessions set up by the eventual SMiSA guys one of the first questions asked when SG explianed the seriousness of the financial situation was "Can we buy shares?". The financial situation is different; however securing the long term future of the club is the prize for this investment. Fan ownership, community benefits, supporters bar, etc are all very welcome bonuses. Pretty sure for most fans the investment will be about safeguarding the future of the club. When Tony Fitzpatrick said similar tonight it was a room full of nodding heads. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted April 19, 2012 Report Share Posted April 19, 2012 I wasn't sure what % such a scenario this situation could happen at. The day I sent the cheque, I accepted it was money down the swannee. I don't think it would be in anyones interests for 10000 hours to obtan the remaining 48%. So hopefully, such a situation never arises. It might never happen, who knows. There are benefits to being a major shareholder outside of the CIC. The 48% will be entitled to seats on the Football Club board, and along with that will no doubt come the usual free lunches at matches, access to the Directors Lounges, free seats in the directors box, free travel with the team etc, etc. I'm not so sure what I can see that would be in it for someone who has a much smaller shareholding but it's your money and your share certificate to do with as you like. Quote Link to comment Share on other sites More sharing options...
Reynard Posted April 20, 2012 Report Share Posted April 20, 2012 Was Somner there asking loads of vital questions? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 20, 2012 Report Share Posted April 20, 2012 Was Somner there asking loads of vital questions? And the season 2011/12 award for sarcasm goes to.... Quote Link to comment Share on other sites More sharing options...
alanmurray24 Posted April 20, 2012 Report Share Posted April 20, 2012 Was Somner there asking loads of vital questions? No, he dont like big crowds Quote Link to comment Share on other sites More sharing options...
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