Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 Gordon Scott's shares to be auctioned off for a seat on the board. One Member One Vote My Arse! http://www.heraldscotland.com/sport/football/restructured-fans-takeover-moves-st-mirren-director-to-donate-shareholding-to-supporters.17660527 Quote Link to comment Share on other sites More sharing options...
Drew Posted May 22, 2012 Report Share Posted May 22, 2012 FFS Quote Link to comment Share on other sites More sharing options...
div Posted May 22, 2012 Report Share Posted May 22, 2012 The non executive membership tier guarantees a seat on the new non-executive board, and those members may stand for election to the football club board, but they are not guaranteed it. Same as anyone else. Today is the day that fan ownership became a reality. We have defined targets, we have defined dates. If the fans want this to happen it will happen. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 The Beatles said it can't buy you love? But it sure as heck can buy a seat on the One member, One vote fans board? or is that the cic board? or the club board? or the non exec board? Good job it's all straight forward, and doesn't change every five minutes Quote Link to comment Share on other sites More sharing options...
Drew Posted May 22, 2012 Report Share Posted May 22, 2012 The Beatles said it can't buy you love? But it sure as heck can buy a seat on the One member, One vote fans board? or is that the cic board? or the club board? or the non exec board? Good job it's all straight forward, and doesn't change every five minutes Have you actually read the brochure? Serious question. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 (edited) Have you actually read the brochure? Serious question. Yeah just re-checking to see if I'm missing any other boards? Add: In short the combined masses of ordinary membership arent guaranteed ONE seat on the SMFC board. The thread title should perhaps read 'The Day "Fan-Boy" Ownership Was Born' Edited May 22, 2012 by somner9 Quote Link to comment Share on other sites More sharing options...
Reynard Posted May 22, 2012 Report Share Posted May 22, 2012 Is Somner against the whole idea of fan ownership then? Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 Is Somner against the whole idea of fan ownership then? Its what Somner dearly wants but now we are on version four of the cic it becomes an ever diluted influence in the proposed make up of 10000 hours latest go at this. Quote Link to comment Share on other sites More sharing options...
GLS Posted May 22, 2012 Report Share Posted May 22, 2012 The fans will own 52% of the shares and have the majority of members on the Football club board. If that is not fans control I am not sure what is? The non executive board idea was formed to make the whole thing more sustainable by attracting business investment similar to the German model. The Non exec board will work in tandem with the CIC board to ensure that the board of the football club runs the club in a fit and proper manner. By buying 1877 shares it does not guarantee you a place on the club board. Quote Link to comment Share on other sites More sharing options...
Reynard Posted May 22, 2012 Report Share Posted May 22, 2012 Its what Somner dearly wants but now we are on version four of the cic it becomes an ever diluted influence in the proposed make up of 10000 hours latest go at this. ^^^^ seething Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 22, 2012 Report Share Posted May 22, 2012 I actually agree with somner9 on this. If it is not OMOV then it isn't really fan ownership. The 1877 is a new development that was not presented at any time in the process. It appears to be a deal done to get the deal over the line. It is a deal that means we don't actually have fan ownership at all. The constitution would mean that the 1877 members would have complete control of the CIC and the club. 10000 Hours need to explain this new model in some detail otherwise they will see a massive withdrawel of direct debit pledges. Tagging it onto a press release is an unnacceptable act of scumbaggery. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 The fans will own 52% of the shares and have the majority of members on the Football club board. If that is not fans control I am not sure what is? The non executive board idea was formed to make the whole thing more sustainable by attracting business investment similar to the German model. The Non exec board will work in tandem with the CIC board to ensure that the board of the football club runs the club in a fit and proper manner. By buying 1877 shares it does not guarantee you a place on the club board. Your first line there GLS what does that look like in actual numbers if say the board comprises 5,7,9, or 11 individuals? Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 I actually agree with somner9 on this. If it is not OMOV then it isn't really fan ownership. The 1877 is a new development that was not presented at any time in the process. It appears to be a deal done to get the deal over the line. It is a deal that means we don't actually have fan ownership at all. The constitution would mean that the 1877 members would have complete control of the CIC and the club. 10000 Hours need to explain this new model in some detail otherwise they will see a massive withdrawel of direct debit pledges. Tagging it onto a press release is an unnacceptable act of scumbaggery. The private detective was right ...... Brother? Quote Link to comment Share on other sites More sharing options...
GLS Posted May 22, 2012 Report Share Posted May 22, 2012 By using this model we have halved the amount required each month to service the CIC debt and still maintained its control of the club. It means that instead of servicing a debt for 10 years we will now be in a position where some of the money pledged will go towards pushing the club forward rather than just paying down loans. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 22, 2012 Report Share Posted May 22, 2012 The fans will own 52% of the shares and have the majority of members on the Football club board. If that is not fans control I am not sure what is? The non executive board idea was formed to make the whole thing more sustainable by attracting business investment similar to the German model. The Non exec board will work in tandem with the CIC board to ensure that the board of the football club runs the club in a fit and proper manner. By buying 1877 shares it does not guarantee you a place on the club board. This is a major f"k up GLS. The 1877 club has not been part of the sales pitch. It should have been presented and the fans should have had a clear understanding that there would be a seperate voting structure for fans to get onto the Board. It is not about fan ownership, it is about fans having a clear say in the running of the club. That is no longer the case. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted May 22, 2012 Report Share Posted May 22, 2012 By using this model we have halved the amount required each month to service the CIC debt and still maintained its control of the club. It means that instead of servicing a debt for 10 years we will now be in a position where some of the money pledged will go towards pushing the club forward rather than just paying down loans. By using this model - which has not been presented to the people that have signed up to 10000 Hours making the entire process possible. We have now shifted from the big sales pitch, which was OMOV to a back door route for "business" investors. That for me is a very, very big breech of trust. 10000 Hours credability is now very much in the shitter. Quote Link to comment Share on other sites More sharing options...
GLS Posted May 22, 2012 Report Share Posted May 22, 2012 Your first line there GLS what does that look like in actual numbers if say the board comprises 5,7,9, or 11 individuals? # We have stated in our release quite clearly that the initial board will consist of 5 members up till the first AGM. At that point I would see us recommending a number that we think is workable. The CIC will always have the majority. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 By using this model - which has not been presented to the people that have signed up to 10000 Hours making the entire process possible. We have now shifted from the big sales pitch, which was OMOV to a back door route for "business" investors. That for me is a very, very big breech of trust. 10000 Hours credability is now very much in the shitter. In Ralston they refer to it as the 'Gary Glitter' Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 # We have stated in our release quite clearly that the initial board will consist of 5 members up till the first AGM. At that point I would see us recommending a number that we think is workable. The CIC will always have the majority. You might think about rewording your declaration then as it gives the distinct impression that 'Fans' i.e. ordinary £10 a month members will numerically dominate the club board, when in fact there may not even be one on the club board. Quote Link to comment Share on other sites More sharing options...
div Posted May 22, 2012 Report Share Posted May 22, 2012 By using this model - which has not been presented to the people that have signed up to 10000 Hours making the entire process possible. We have now shifted from the big sales pitch, which was OMOV to a back door route for "business" investors. That for me is a very, very big breech of trust. 10000 Hours credability is now very much in the shitter. Don't think you have read or a least understood this John. The non exec tier grants a seat on a non exec board, not the football club board. All individuals who have pledged support and submitted mandates will be sent a refreshed mandate to complete to confirm their support of the bid ahead of the bid being submitted on June 15th. If we don't get the numbers the bid will be rejected and the selling consortium will sell to someone else. Its up to each individual to decide if they want the club to be owned by the fans or if they would prefer to roll the dice with a private buyer. 24 days to decide. Quote Link to comment Share on other sites More sharing options...
pozbaird Posted May 22, 2012 Report Share Posted May 22, 2012 (edited) 10000 Hours need to explain this new model in some detail otherwise they will see a massive withdrawel of direct debit pledges. I assume this is your personal opinion, and you are merely stating it in the course of a normal forum debate. It in no way constitutes any more than that, and you are not attempting to stoke up a campaign that encourages people to withdraw their DD mandate that harms the takeover of the club? Just checking to see what the rules are... this week. Edited May 22, 2012 by pozbaird Quote Link to comment Share on other sites More sharing options...
GLS Posted May 22, 2012 Report Share Posted May 22, 2012 By using this model - which has not been presented to the people that have signed up to 10000 Hours making the entire process possible. We have now shifted from the big sales pitch, which was OMOV to a back door route for "business" investors. That for me is a very, very big breech of trust. 10000 Hours credability is now very much in the shitter. There is no change. The CIC owns 52% of the shares in SMFC. It will work on a one man vote system. The 1877 shares are shares in the football club not the CIC. The only change to the CIC is that it has halved its monthly payments in return for engaging the other shareholders if 75% of the members don't vote for a particular resolution. Quote Link to comment Share on other sites More sharing options...
Drew Posted May 22, 2012 Report Share Posted May 22, 2012 By using this model - which has not been presented to the people that have signed up to 10000 Hours making the entire process possible. We have now shifted from the big sales pitch, which was OMOV to a back door route for "business" investors. That for me is a very, very big breech of trust. 10000 Hours credability is now very much in the shitter. Where is the shift from OMOV? The 'business investors' are no more likely to secure or entitled to a place on the club board than anyone else. They don't have a block vote. They can put themselves forward, but if they don't receive suffiicient support, they won't secure a seat. Seems quite straightforward to me. Quote Link to comment Share on other sites More sharing options...
div Posted May 22, 2012 Report Share Posted May 22, 2012 Where is the shift from OMOV? The 'business investors' are no more likely to secure or entitled to a place on the club board than anyone else. They don't have a block vote. They can put themselves forward, but if they don't receive suffiicient support, they won't secure a seat. Seems quite straightforward to me. This. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 22, 2012 Report Share Posted May 22, 2012 How many £10 a month members on THE board of SMFC? lets ignore all the other boards for a moment Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.