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Smisa - Statement On Existing Smfc Ltd Share Purchase & Pde Advert

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From SMiSA.net:

Today SMiSA has released a statement, and placed an advert in the Paisley Daily Express newspaper relating to the purchase of existing shares in St Mirren Football Club Ltd. Below are the details of both the advert, and the statement:
Advert:
S.M.I.S.A. – St. Mirren Supporters Trust – has funds available to acquire shares from existing shareholders in St. Mirren F.C. Ltd. Details of the Trust can be found on its website at www.smisa.net all enquires welcomed on line or email [email protected] or txt or call 0759 616 5194 and someone will contact you to discuss.
Alternatively if any shareholder wishes to retain their shares but would consider granting their proxy vote to the Supporters Trust please also use the above contact details.
Statement:
S.M.I.S.A. – St. Mirren Supporters Trust – is a non profit making concern incorporated on 26 June, 2003 as an industrial and provident Society registered under The Financial Services Authority.
The trust has fulfilled a number of roles in its 10 years of existence principally: -
  • Communicating with the club on fan issues.
  • Fund raising for the football club.
  • organisation of events bringing fans and players together.
  • Building a shareholding in St. Mirren F.C. Ltd. funded by members subscriptions.
The trust has contributed well in excess of £100K to the club by way of purchase of shares, loans and donations over 12 years. These funds have been raised in the main from members monthly subscriptions. The membership comprises Saints Supporters who have chosen to do a bit extra for the club over and above their expenditure on attending matches and purchasing club merchandise. The most recent contribution was the sum of £50K to enable the construction of the air dome to proceed.
In the past, the trust has acquired shares directly from the football club but this avenue is no longer available and the trust members have voted to use their funds to buy shares from other shareholders.
Trust members are disappointed that their funds will not go for the benefit of the club as originally intended but they consider it vital at this time to look to maximise their shareholding in the club.
The current attempt by 5 shareholders to establish and sell a majority shareholding thereby creating a new single owner of the club will eliminate any influence on the affairs of our community football club by the remaining minority shareholders who own some 48% of the shares in the club but are not represented on the board. It is the aim of the trust to ensure that St. Mirren remains truly a community football club and avoids the fate which has befallen so many other clubs with single owners.
The trust is aware that there are several hundred shareholders in the club many of whom may have acquired the shares through inheritance for example and have no allegiance or indeed interest in St. Mirren. The trust is giving them the opportunity to dispose of these shares safe in the knowledge that they are passing into the hands of a long established properly constituted trust which is required to hold the shares in perpetuity and is prevented from disposing of them by its trust deed.
The trust currently holds 3877 shares in St. Mirren Football Club Ltd.

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From SMiSA.net:

do you not realise that apart from the good work you do - the current board make decisions and you are virtually insignificant in their minds, stop the crap tennants and ban yourself - as you seem to be on a mission to ban everything that breathes - you wiil not last long on here as a moderator

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do you not realise that apart from the good work you do - the current board make decisions and you are virtually insignificant in their minds, stop the crap tennants and ban yourself - as you seem to be on a mission to ban everything that breathes - you wiil not last long on here as a moderator

eh ? ?

are you commenting on the offer of share purchase or having a grump about an individual ?

if it's the share purchase I will gladly explain

Edited by thewhiteman

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This is a good move for smisa IMO. Obviously Smisa will not gain control of the club this way, but longer term if we have a fans group with 25%+ share holding it could be significant.

SMiSA held off doing this for so many years for very good reasons. With hindsight it may have been worth doing far sooner to stop a single body getting 75% which sadly seems like happening.

AFAIK the consortium have totally ignored all SMiSA requests to buy shares since Love St was sold.

The German 50+1 fan ownership model has been in place since '60s. If only the footballing authorities in this country could have followed this model we would not have seen all the recent failures with clubs like Dundee, Livingston, Airdrie, Motherwell, Hearts, Gretna and Rangers.

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eh ? ?

are you commenting on the offer of share purchase or having a grump about an individual ?

if it's the share purchase I will gladly explain

mainly grumping about the actions of an individual appologies for that as it's the wrong thread, but also pointing out that although the aim to purchase shares can only be applauded, the board have shown they will not sell theirs unless it's at a ridiculously high price, that makes me suspect that others with sizeable amounts will be hoping to achieve a equally high price for their holding - especially anyone with no affinity to the club who has inherited their shares and those who have at one time been fans but are no longer concerned about the wellbeing of the club, do you plan to match any price put on the shares

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You know if someone wants to buy 75 percent of the shares and isn't,t interested in fan involvement we could do a sevco and divert all ST sales into a trust until the new owner signs over the deeds to the stadium and training facility to the fans....

Now there,s a debt free way to secure the club,s future..!

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pointing out that although the aim to purchase shares can only be applauded, the board have shown they will not sell theirs unless it's at a ridiculously high price, that makes me suspect that others with sizeable amounts will be hoping to achieve a equally high price for their holding - especially anyone with no affinity to the club who has inherited their shares and those who have at one time been fans but are no longer concerned about the wellbeing of the club, do you plan to match any price put on the shares

the intention is to purchase or proxy as many shares as possible, so unfortunately the buying price will not match what the consortium are looking for, £12 I think it works out at, but as has been mentioned by others the 48 % at the moment seem to be worth very little in that the hundreds of people who own them have no say in the running of the club as even if they all voted the same way just 5 individuals with the 52% can over rule them.

we also want to purchase as many as we can for the £50k we hold, as well as obtaining the proxy votes for those we can't afford or where individuals do not wish to sell, all that is left of the 48% would be those who want to keep their shares and their vote which is understandable but our feeling is that collectively each of these individuals should also have an input to any decisions, the point being individually or collectively some of those within the 48% have more shares than some of those calling the shots within the consortium !

we feel that the accumulation of shares for the supporters trust is a somewhat different concept than any individual buying the 52% in that the supporters trust is a democratic body and any the more people in the trust means that more people are having a say on the outcome of any vote or in the running of the club as opposed to the one individual (as planned by the consortium) that can pretty much do what they want

in short we feel all of the fans and shareholders should have an input and be part of the club and only by pulling their resources into one group can they hope to influence the board if they choose to do so, not just to be owners of some worthless shares

ps as well as the accumulation of the shares and / proxy it is also important that the supporters trust has as many members as possible to be truly representative of the fans and add weight to any potential influence of the board, so please checkout the website for more info.

Edited by thewhiteman

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the intention is to purchase or proxy as many shares as possible, so unfortunately the buying price will not match what the consortium are looking for, £12 I think it works out at, but as has been mentioned by others the 48 % at the moment seem to be worth very little in that the hundreds of people who own them have no say in the running of the club as even if they all voted the same way just 5 individuals with the 52% can over rule them.

we also want to purchase as many as we can for the £50k we hold, as well as obtaining the proxy votes for those we can't afford or where individuals do not wish to sell, all that is left of the 48% would be those who want to keep their shares and their vote which is understandable but our feeling is that collectively each of these individuals should also have an input to any decisions, the point being individually or collectively some of those within the 48% have more shares than some of those calling the shots within the consortium !

we feel that the accumulation of shares for the supporters trust is a somewhat different concept than any individual buying the 52% in that the supporters trust is a democratic body and any the more people in the trust means that more people are having a say on the outcome of any vote or in the running of the club as opposed to the one individual (as planned by the consortium) that can pretty much do what they want

in short we feel all of the fans and shareholders should have an input and be part of the club and only by pulling their resources into one group can they hope to influence the board if they choose to do so, not just to be owners of some worthless shares

ps as well as the accumulation of the shares and / proxy it is also important that the supporters trust has as many members as possible to be truly representative of the fans and add weight to any potential influence of the board, so please checkout the website for more info.

£12 a share???? F*cks sake, I'll have to look mine out!

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Are you sure SMISA are an I & P Society - they don't apear on the public register. However, The 1877 Society Limited are an I & P Society and presumably SMISA are the operating name.

The FSA no longer exists and is now two separate regulatory authorities.

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Are you sure SMISA are an I & P Society - they don't apear on the public register. However, The 1877 Society Limited are an I & P Society and presumably SMISA are the operating name.

The FSA no longer exists and is now two separate regulatory authorities.

You are correct that 1877 Society Ltd is the formal shareholding name.

The first batch of shares purchased was 1877.

Reckon there is a theme there!

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Are you sure SMISA are an I & P Society - they don't apear on the public register. However, The 1877 Society Limited are an I & P Society and presumably SMISA are the operating name.

The FSA no longer exists and is now two separate regulatory authorities.

Smart Buggar ? You should have aligned with 10,000 Whores whistling.gif

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the intention is to purchase or proxy as many shares as possible, so unfortunately the buying price will not match what the consortium are looking for, £12 I think it works out at, but as has been mentioned by others the 48 % at the moment seem to be worth very little in that the hundreds of people who own them have no say in the running of the club as even if they all voted the same way just 5 individuals with the 52% can over rule them.

we also want to purchase as many as we can for the £50k we hold, as well as obtaining the proxy votes for those we can't afford or where individuals do not wish to sell, all that is left of the 48% would be those who want to keep their shares and their vote which is understandable but our feeling is that collectively each of these individuals should also have an input to any decisions, the point being individually or collectively some of those within the 48% have more shares than some of those calling the shots within the consortium !

we feel that the accumulation of shares for the supporters trust is a somewhat different concept than any individual buying the 52% in that the supporters trust is a democratic body and any the more people in the trust means that more people are having a say on the outcome of any vote or in the running of the club as opposed to the one individual (as planned by the consortium) that can pretty much do what they want

in short we feel all of the fans and shareholders should have an input and be part of the club and only by pulling their resources into one group can they hope to influence the board if they choose to do so, not just to be owners of some worthless shares

ps as well as the accumulation of the shares and / proxy it is also important that the supporters trust has as many members as possible to be truly representative of the fans and add weight to any potential influence of the board, so please checkout the website for more info.

i do not own any shares , but if i did it would seem to me that the best thing to do would be to sell them to smisa or give smisa proxy and if you want your opinions heard but no longer have a vote (due to selling to or giving proxy to smisa) then join smisa and you can have a stronger say in matters than you would have with being a small shareholder - go on give smisa the power, you know it makes sense

Edited by buddiecat

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i do not own any shares , but if i did it would seem to me that the best thing to do would be to sell them to smisa or give smisa proxy and if you want your opinions heard but no longer have a vote (due to selling to or giving proxy to smisa) then join smisa and you can have a stronger say in matters than you would have with being a small shareholder - go on give smisa the power, you know it makes sense

Thanks for reminder. I've just handed my shares to SMiSA for a collective proxy.

I only wish that our governing bodies would bring in legislation similar to the Bundesliga which means that clubs must have 50+1 fan ownership.

Sadly our governing bodies are incapable of doing what is right for the good of the game.

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i do not own any shares , but if i did it would seem to me that the best thing to do would be to sell them to smisa or give smisa proxy and if you want your opinions heard but no longer have a vote (due to selling to or giving proxy to smisa) then join smisa and you can have a stronger say in matters than you would have with being a small shareholder - go on give smisa the power, you know it makes sense

likewise just signing up as a member also gives a position of strength, which you can do for £2 a month, you know that makes sense as well

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likewise just signing up as a member also gives a position of strength, which you can do for £2 a month, you know that makes sense as well

i have spoken to mr bell about this, didn't know it was only £2 a month, where do i sign

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i have spoken to mr bell about this, didn't know it was only £2 a month, where do i sign

being a bit of a technophobe I am unable to provide the link but if you go back up to the top of this page there's a link to www.smisa.net then the menu at the left hand side of the page . . Join the trust

the website is going through a bit of an overhaul at the moment including being able to sign up on line, but at the moment you have to download the form and print it before sending, a bit of a hassle I know but hopefully this won't be necessary in the near future.

thanks

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