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Removal Of Current Board


waldorf34

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Never mind handing over vast sums of money to the consortium.

The way forward is to get those shareholders who have handed their shareholding proxy to the board's to withdraw that agreement, because the consortium do not OWN the 75 per cent they only own 53 percent

Then all we need is for Allan Marshall to pull out of the consortium and sell his shares to SMiSA and we can remove this board.

Then any money raised will stay in the club,not lining directors pockets

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Never mind handing over vast sums of money to the consortium.

The way forward is to get those shareholders who have handed their shareholding proxy to the board's to withdraw that agreement, because the consortium do not OWN the 75 per cent they only own 53 percent

Then all we need is for Allan Marshall to pull out of the consortium and sell his shares to SMiSA and we can remove this board.

Then any money raised will stay in the club,not lining directors pockets

That's an interesting line of thought.

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Never mind handing over vast sums of money to the consortium.

The way forward is to get those shareholders who have handed their shareholding proxy to the board's to withdraw that agreement, because the consortium do not OWN the 75 per cent they only own 53 percent

Then all we need is for Allan Marshall to pull out of the consortium and sell his shares to SMiSA and we can remove this board.

Then any money raised will stay in the club,not lining directors pockets

First flaw in the plan! They would still own the largest majority of shares and the rights that go with them.

Second flaw.... Any Tom, Dick or Reg could buy available shares.

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First flaw in the plan! They would still own the largest majority of shares and the rights that go with them.

Second flaw.... Any Tom, Dick or Reg could buy available shares.

First flaw is probably Alan Marshall having a contract with the rest of the consortium who are selling their shares through Douglas Street Limited.

No idea the ins and outs of this but I imagine it wouldn't be easy to withdraw your shares.

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First flaw is probably Alan Marshall having a contract with the rest of the consortium who are selling their shares through Douglas Street Limited.

No idea the ins and outs of this but I imagine it wouldn't be easy to withdraw your shares.

I've often wondered about that. Is it a gentleman's agreement or an unbreakable contract? If one director with a big holding thinks things have fundamentally changed with regard to a safe financial future for St.Mirren over the last few years ( or any future for that matter) would it not be incumbent on him or indeed on all of them to do the best thing for the club. What are a director's legal obligations?

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I've often wondered about that. Is it a gentleman's agreement or an unbreakable contract? If one director with a big holding thinks things have fundamentally changed with regard to a safe financial future for St.Mirren over the last few years ( or any future for that matter) would it not be incumbent on him or indeed on all of them to do the best thing for the club. What are a director's legal obligations?

They formed a company so i would suggest all the board of that company would have to agree any selling of shares.

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They formed a company so i would suggest all the board of that company would have to agree any selling of shares.

I'd agree with this.

I'd imagine the shares are locked with Douglas Street Limited.

I suppose anyone of those directors could sell their shares of Douglas Street privately but that would just replace the director and not take their SMFC shares out of Douglas Street?

Just guess work.

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They formed a company so i would suggest all the board of that company would have to agree any selling of shares.

Not arguing about that. What I am suggesting is that if one director with a conscience decided that their agreement is not in the best interests of St.Mirren FC, then is he not legally obliged to say so and if necessary have the agreement dissolved? Are we all happy that the present board's actions over the last few years have had the club's best interests at the top of the agenda?

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Not arguing about that. What I am suggesting is that if one director with a conscience decided that their agreement is not in the best interests of St.Mirren FC, then is he not legally obliged to say so and if necessary have the agreement dissolved? Are we all happy that the present board's actions over the last few years have had the club's best interests at the top of the agenda?

Doubt it, the company isn't SMFC its a vehicle to sell shares removed from the club, its company and rules. You can understand them wanting a watertight consortium or they could end up being shafted like the 48% of other shareholders they left behind.

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The only way to remove the current board, and let's remember they WANT to be removed, is to buy the majority shareholding from them.

Out of interest they own more than 52% of the shares between them now.

They want to cash out at a ridiculous price, not be removed.

The new legislation being discussed regarding fan ownership may also provide a window in the future to get them out the door.

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The only way to remove the current board, and let's remember they WANT to be removed, is to buy the majority shareholding from them.

Out of interest they own more than 52% of the shares between them now.

Looks like that's the only option then if fan ownership is to be explored.

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They want to cash out at a ridiculous price, not be removed.

The new legislation being discussed regarding fan ownership may also provide a window in the future to get them out the door.

That legislation is pie in the sky fella. It would allow fans to have first option on buying shares if they came on the market, but it can't mandate what price is put on those shares. If it did it would be the end of private investment in football.

Like it or not St.Mirren FC is a a private Limited company and as such its run to the same rules as every other company of that type. The sellers will demand a price for their shares, and its either up to someone to pay that, or its up to the buyers to lower their price.

Otherwise the status quo will remain.

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The only way to remove the current board, and let's remember they WANT to be removed, is to buy the majority shareholding from them.

Out of interest they own more than 52% of the shares between them now.

I know they had 'access' to more than the 52% but are you saying they have bought others out?

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I know they had 'access' to more than the 52% but are you saying they have bought others out?

They enteered into agreements with Ken McGeoch and Gordon Scott I believe, but I don't think they actually bought those shares.

They did however buy some shares of some other largish share holders to get them over the 75% line along with the agreements above.

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The only way to remove the current board, and let's remember they WANT to be removed, is to buy the majority shareholding from them.

Out of interest they own more than 52% of the shares between them now.

That's true, and just watch the value of that share plummet as soon as relegation is mathematically certain. Let's see how interested they are to sell at whatever price to cut their losses and run.

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That's true, and just watch the value of that share plummet as soon as relegation is mathematically certain. Let's see how interested they are to sell at whatever price to cut their losses and run.

If, as reported yesterday, the BoD has a scheduled meeting today one would hope that it would involve agreeing an aggressive 2-3 year plan to get us back in the Premiership and all that entails ie a complete overhaul of the playing and coaching staff, revenue generation and engagement with the fan base. Frankly, I don't see it. They just look flat out of ideas. If the BoD doesn't wake up we could easily drop another division.

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That's true, and just watch the value of that share plummet as soon as relegation is mathematically certain. Let's see how interested they are to sell at whatever price to cut their losses and run.

As its a privately limited company the shares are like selling a house and are worth what someone wishes to sell them for and what someone is willing to pay for them. Being relegated may not necessarily drop the asking price of the consortium. It may however drop what someone is willing to pay for them.

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As its a privately limited company the shares are like selling a house and are worth what someone wishes to sell them for and what someone is willing to pay for them. Being relegated may not necessarily drop the asking price of the consortium. It may however drop what someone is willing to pay for them.

I know that.

Is there a footballing equivalent of Kirsty Allsopp or Phil Spencer who can come in and tell them how to present the club for sale and manage their expectations over what it's actually worth????? because they sure as hell aren't making a good job of it on their own.

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That's true, and just watch the value of that share plummet as soon as relegation is mathematically certain. Let's see how interested they are to sell at whatever price to cut their losses and run.

Conversely, would the value of SMFC share rocket if we were a championship club who had just secured promotion? Serious question because they didn't increase in value before. it's not as if we saw a profit from any of the last 9 years and relegation will mean losses are curbed or avoided by some serious axe-swinging.

Only factors affecting price are the ability to afford and the willingness to pay and share values will rise and fall based upon those two factors- nothing else

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