10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Yes, a very good response - bet you know who'll be Chairman though. I though you were not standing?!? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 8, 2012 Report Share Posted June 8, 2012 I though you were not standing?!? I'm waiting to be announced as the honourary President. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 8, 2012 Report Share Posted June 8, 2012 Anyone can put the share in if the CIC and the Shareholder agree the terms. A legally binding agreement ratified by a board elected by its members cannot be breeched without whatever consequenecies contained in the agreement coming into play Other than GLS how many shareholders have come to such an agreement and how many shares does this constitute? How would a small shareholder go about selling (or whatever other term you care to use) their shares to the CIC? Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 8, 2012 Report Share Posted June 8, 2012 I'm waiting to be announced as the honourary President. Knew it! closet (or not so closet) SRTB Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 I'm waiting to be announced as the honourary President. of what? Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Other than GLS how many shareholders have come to such an agreement and how many shares does this constitute? How would a small shareholder go about selling (or whatever other term you care to use) their shares to the CIC? There are no Formal Agreements in place, a small shareholder would just e-mail [email protected] to start the conversation a number already have and some small shareholders have also contacted us willing to donate their shares if it helps the deal happen Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 8, 2012 Report Share Posted June 8, 2012 of what? Sam Parkin fan club. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 8, 2012 Report Share Posted June 8, 2012 There are no Formal Agreements in place, a small shareholder would just e-mail [email protected] to start the conversation a number already have and some small shareholders have also contacted us willing to donate their shares if it helps the deal happen Potentially 18633 shares by my reckoning that's 3409 more than GLS has. Can you guaranteee 20 shares to each 87 club member and 1877 shares to Non-Exec members? Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Potentially 18633 shares by my reckoning that's 3409 more than GLS has. Can you guaranteee 20 shares to each 87 club member and 1877 shares to Non-Exec members? Yes Quote Link to comment Share on other sites More sharing options...
saintargyll Posted June 8, 2012 Report Share Posted June 8, 2012 i just hope there is not one "sniff" of a blue nose around all this its taking too long Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 8, 2012 Report Share Posted June 8, 2012 Yes Without any formal agreements? Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted June 8, 2012 Report Share Posted June 8, 2012 Richard one thing is puzzling me. The loan from BII, it was stated last night according to the Tweets that it was £500,000 on an interest rate of 8% and that you need £7,500 to make it viable but over an 8 year period I work that out at 9%. Am I just over simplifying something or are the figures wrong? Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Richard one thing is puzzling me. The loan from BII, it was stated last night according to the Tweets that it was £500,000 on an interest rate of 8% and that you need £7,500 to make it viable but over an 8 year period I work that out at 9%. Am I just over simplifying something or are the figures wrong? Sorry my mistake in using a straight number for twitter there are some set up fees, legal which by the time you roll it up and it is a few months over 8 years so overall if you just divide it through it comes out more. The actual hard cash number is £7587 per month that is the target that we need the individual members to cover and we are now over half way there. I have emailed you re your query on DD set up from a community organisation point of view Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 8, 2012 Report Share Posted June 8, 2012 (edited) Other shareholders have come forward and indicated that if we we to move there shares onto other owners at the same price then they would be happy to get involved There are no Formal Agreements in place, a small shareholder would just e-mail [email protected] to start the conversation a number already have So you're doing deals in confidence, with certain shareholders, maybe they're to be commended on their initiative, but I have to say I don't feel like I'm being enfranchised (re or otherwise by this takeover) like you've mentioned elsewhere and I feel that if you get control of it then Saint Mirren will no longer be my club - maybe I'll do just that and trade my shares in, is there any time limit to when I have to get in contact? Edited June 8, 2012 by Bud the Baker Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted June 8, 2012 Report Share Posted June 8, 2012 Sorry my mistake in using a straight number for twitter there are some set up fees, legal which by the time you roll it up and it is a few months over 8 years so overall if you just divide it through it comes out more. The actual hard cash number is £7587 per month that is the target that we need the individual members to cover and we are now over half way there. I have emailed you re your query on DD set up from a community organisation point of view Yeah got it - thanks Richard. I'll reply in a few minutes. Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 (edited) So you're doing deals in confidence, with certain shareholders, maybe they're to be commended on their initiative, but I have to say I don't feel like I'm being enfranchised (re or otherwise by this takeover) like you've mentioned elsewhere and I feel that if you get control of it then Saint Mirren will no longer be my club - maybe I'll do just that and trade my shares in, is there any time limit to when I have to get in contact? We are doing no secret deals but if individuals want to speak in Confidence then that is upto them. I cannot understand how when what we are doing means that your holding of SMFC shares can actually make a difference to the carrying of a vote when at the moment the 52% vote in a block that you cannot see that your shares have more power in their votes and in the money that you have put into the club than ever before. I also cannot understand why you say "you will get control of ..St Mirren" it will be One Member One Vote in the CIC and by share ownership in the 48% I will have no more voting rights than any other member of the CIC and the number of shares which I own......I will certainly not have "Control of Anything" the Fans and the Shareholders will. There is no time limit to selling shares just like there is not now. If any shareholder wants to sell shares they just need to find someone that wants to buy them. I guess we will have to agree to disagree Edited June 8, 2012 by 10000hours Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 8, 2012 Report Share Posted June 8, 2012 We are doing no secret deals but if individuals want to speak in Confidence then that is up to them. Semantics. Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Semantics. very good. I cannot force someone who does not want to deal with public gaze in selling shares to do so. Sorry Quote Link to comment Share on other sites More sharing options...
GLS Posted June 8, 2012 Report Share Posted June 8, 2012 To be fair to Richard he has had no contact with the other shareholders. I have spoken to two of the largest shareholders outside the consortium and both have expressed an interest in doing what I am doing if it helps make the deal more sustainable. There are no deals in place but it would have been irresponsible for us not to gauge an interest from these people before going down this route. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 8, 2012 Report Share Posted June 8, 2012 Have these questions been answered yet - specifically the last two? Outstanding debt would have been a lot easier serviced had the CiC or indeed SMFC remained in control of additional revenue generating opportunities. The men who sold the prawn sandwiches???? Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Outstanding debt would have been a lot easier serviced had the CiC or indeed SMFC remained in control of additional revenue generating opportunities. The men who sold the prawn sandwiches???? Please give One just One single example of where the CiC or SMFC will not remain in control of additional revenue generating opportunites.......really looking forward to your answer Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 8, 2012 Report Share Posted June 8, 2012 Please give One just One single example of where the CiC or SMFC will not remain in control of additional revenue generating opportunites.......really looking forward to your answer Re your previous statements that an organisation that wishes to fit out the void, in exchange for a peppercorn rent, but has no caveat imposed by the cic or club to return part of the profit it makes on events it stages in the void. I'd imagine they'd plan to have at least one or more events everyday? Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 8, 2012 Report Share Posted June 8, 2012 Can you ignore Somner and answer the questions raised by Div this morning that I cannot see a response to. Apologies if this has been covered already, but there is a lot of chaff to wade through. Poor form! Quote Link to comment Share on other sites More sharing options...
10000hours Posted June 8, 2012 Report Share Posted June 8, 2012 Can you ignore Somner and answer the questions raised by Div this morning that I cannot see a response to. Apologies if this has been covered already, but there is a lot of chaff to wade through. sorry did not see the question till you reposted it. give me a minute, Somner9 I will give you another minute to think of an example because the one you just gave is not correct, in your own time Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 8, 2012 Report Share Posted June 8, 2012 The purpose of this topic is for 10000Hours to answer questions - so in my opinion it was poor form on your part to answer the question I raised. My post was to 10000 hours who were kind enough to reply, I quoted your post as it also alluded to cic debt. Quote Link to comment Share on other sites More sharing options...
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