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10000Hours Bid Is Rejected


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With as uncertain a future as any club in these times I just hope they chose the bid that doesn't saddle the club (any club) with a debt it will surely struggle to service

That said i fully expect the announcement to be "We the 52% majority selling consortium at SMFC wish to announce... we'd like to rip through the whole turgid process at least one more time before making our minds up"

Edited by somner9
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After numerous proposals the Consortium of majority shareholders in St Mirren Football Club Limited (SMFC) has decided that in the best interests of SMFC they are unable to accept the final offer from the 10000 Hours group.

The longer this went on and with the numerous changes that were made to the proposals it appeared that most of the 10000 Hours’ major backers seemed to be having doubts about the concept. It became clear that it appeared to be becoming more difficult for the 10000 Hours Board to come up with an appropriate offer which would have given confidence to the selling Consortium that their proposals were sustainable.

The Consortium have always stressed and continue to stress that they will do their utmost to make sure that it is the right people who buy their shares in SMFC.

There has been press speculation with regard to other parties’ interest in the shares and at this point the Consortium would like to clarify that they have spoken to many different parties, but up until now none has come up with an appropriate offer which satisfies the Consortium’s criteria.

The Consortium’s shares will continue to be available to the right person but until that happens they will continue to work with the rest of the Board in the best interests of SMFC.

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I saw a posse of strangers ride into town this morning. They were riding their horses so fast I couldn't count how many of them there was.

Oh isn't ReA a director of 'Horse Scotland'?

(Also known as the Serbian national football team)

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After numerous proposals the Consortium of majority shareholders in St Mirren Football Club Limited (SMFC) has decided that in the best interests of SMFC they are unable to accept the final offer from the 10000 Hours group.

The longer this went on and with the numerous changes that were made to the proposals it appeared that most of the 10000 Hours’ major backers seemed to be having doubts about the concept. It became clear that it appeared to be becoming more difficult for the 10000 Hours Board to come up with an appropriate offer which would have given confidence to the selling Consortium that their proposals were sustainable.

The Consortium have always stressed and continue to stress that they will do their utmost to make sure that it is the right people who buy their shares in SMFC.

There has been press speculation with regard to other parties’ interest in the shares and at this point the Consortium would like to clarify that they have spoken to many different parties, but up until now none has come up with an appropriate offer which satisfies the Consortium’s criteria.

The Consortium’s shares will continue to be available to the right person but until that happens they will continue to work with the rest of the Board in the best interests of SMFC.

Reeee-Sult!

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And the search continues..... realistically is anyone going to, in the current climate of spl/scottish football pay out over a million quid to buy something that occasionally might break even, more normally needs cash injections to keep it going?

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The Consortium have always stressed and continue to stress that they will do their utmost to make sure that it is the right people who buy their shares in SMFC.

That's a bit of a slap in the face to the 1,000 St.Mirren fans who did back the bid in my opinion.

Rejecting it because of financial concerns is fine, but the selling consortium should have least have acknowledged that 1000 fans backed it with their own money.

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