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Question For 10000Hrs


ck1
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For 10000hrs only please then we debate the answers I feel that a lot is lost in the so many replies.

10000hrs can you please clarify and clear this issue up for me as there has been so much posted on this takeover I think a lot get lost in the posts.

10000hrs are buying the 52% shares from the selling consortium; this would give them full control of the club?

A separate board would run the football club & a separate board would run CIC?

The football club would not be responsible for the debt on the loans that the CIC sought

To buy said shares?

I think I read that the CIC could buy up more shares from the other 48% why would it feel the need to purchase any more shares when it already has full control, would this not be a waste of money?

If the CIC was to fail how would this affect the club when the 2 are separate business models?

Once again if it did fail could the CIC gift the shares () rather than sell ,then the club would be in real Fan control could this be an option for a safety net.( articles of association)

Why not just offer the selling consortium £1million that you have on a take it leave it basis as after all you are the preferred bidder.

If the selling consortium were to take the £1million, the CIC could get to their Aims in a shorter timescale and this would allow for money to plough into the Football club .I think this is where the majority want to see this money go if the truth know.

No one in any of the two boards will be paid?

What is the dividend on the stake in the CIC if you pay £10pm or £3000pa?

Can 10000hrs go out and buy a stake in any other business as an investment and a possible money making venture .But this money doesn’t have to go back to SMFC ,the CIC can chose were that money goes i.e. Glasgow ladies or Glennifer Thistle or any other community project.

All the voting is done on one share one vote basis

.

How much will it cost to set up all the start up costs of the CIC?

Has this been costed in the loans that the CIC are taken or will this money come from elsewhere as an added cost?

If coming from another source who’s funding it and who is the source?

Will there be an interim board after the takeover is complete and who will this be?

Thank you in advance for taking the time to answer these questions I know some may have been answered before.

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Listen Dick I can post what I want and put it on the Forum of my choice.Who died and made you boss!

I think more people read this Forum

Good questions ck1. There's still a lot of supporters new to 10,000hrs plus we've had a lot of changes throughout the process. I could answer the questions asked, but it would just wind up the usual suspects. I think once answered this should be pinned.

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Good questions ck1. There's still a lot of supporters new to 10,000hrs plus we've had a lot of changes throughout the process. I could answer the questions asked, but it would just wind up the usual suspects. I think once answered this should be pinned.

Once completed, It should be used as a flyer with instructions on how to set-up a Direct Debit, and mailed across the relevant databases/ demographics.

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Once completed, It should be used as a flyer with instructions on how to set-up a Direct Debit, and mailed across the relevant databases/ demographics.

About time you got involved in writing some of the copy for the leaflets / flyers, etc. You have a gift for hitting the heart strings of Saints supporters as proven with the excellent Aber book.

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For 10000hrs only please then we debate the answers I feel that a lot is lost in the so many replies.

10000hrs can you please clarify and clear this issue up for me as there has been so much posted on this takeover I think a lot get lost in the posts.

10000hrs are buying the 52% shares from the selling consortium; this would give them full control of the club?

It will give the CIC the majority vote at the AGM the same as the current Consortium

A separate board would run the football club & a separate board would run CIC?

Two separate companies...two separate boards

The football club would not be responsible for the debt on the loans that the CIC sought

To buy said shares?

Indeed loans are to the CIC not the club

I think I read that the CIC could buy up more shares from the other 48% why would it feel the need to purchase any more shares when it already has full control, would this not be a waste of money?

Stress the word Could, the answer you quote was probably in response to being asked if it was possible which it is. Would be upto the members to decide

If the CIC was to fail how would this affect the club when the 2 are separate business models?

If the CIC was to fail then its assests e.g the shares in the club would be sold by the Administrators to another party. we would be back to where we are now, 52% of the shares for sale

Once again if it did fail could the CIC gift the shares () rather than sell ,then the club would be in real Fan control could this be an option for a safety net.( articles of association)

If the CIC fails it has no control over what the Administrators would do to statisfy any creditors to the CIC

Why not just offer the selling consortium £1million that you have on a take it leave it basis as after all you are the preferred bidder.

Because they would leave it.

If the selling consortium were to take the £1million, the CIC could get to their Aims in a shorter timescale and this would allow for money to plough into the Football club .I think this is where the majority want to see this money go if the truth know.

Indeed but it is hypothetical as £1m is not the selling price.

No one in any of the two boards will be paid?

That is the way I think it should be the members need to vote on the Mems and Arts to confirm it

What is the dividend on the stake in the CIC if you pay £10pm or £3000pa?

I think you mean share ownership rather than dividend (please correct me back if needed) you will get you fair proportionment of equity based on the total you contribute over the debt replayment period

Can 10000hrs go out and buy a stake in any other business as an investment and a possible money making venture .But this money doesn’t have to go back to SMFC ,the CIC can chose were that money goes i.e. Glasgow ladies or Glennifer Thistle or any other community project.

In theory yes.A CIC is just like a Ltd compnay in the way it can raise and invest money but it is am member controlled organisation so would the SMFC members vote to do that?

All the voting is done on one share one vote basis

No One member ONE VOTE no matter how many shares you own

.

How much will it cost to set up all the start up costs of the CIC?

it has already been done and paid for out of the pockets of those who came up with the idea

Has this been costed in the loans that the CIC are taken or will this money come from elsewhere as an added cost?

See above answer

If coming from another source who’s funding it and who is the source?

Will there be an interim board after the takeover is complete and who will this be?

If you see my notes on the Constitution this is dealt with and suggestions welcomed

Thank you in advance for taking the time to answer these questions I know some may have been answered before.

your welcome

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