Callum Gilhooley Posted March 30, 2016 Report Share Posted March 30, 2016 Just send me your bank account details ;-) But i`ve already given mine to that nice chap from Nigeria. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted March 30, 2016 Report Share Posted March 30, 2016 £1.2m for a 68% shareholding would value the club at a total of £1.764m if I've understood things right. I'm not sure how good a deal that is for a business that hasn't returned any significant operating profit in any of the last 16 years, or a business where the current owners have a stated belief that the business model is only viable with Celtic and "Rangers" playing in the Scottish Leagues. Regardless - I'm in, and I just hope that Gordon Scott and SMiSA can deliver the kind of socially responsible, community focused football club that everyone in Renfrewshire can be proud of. Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted March 30, 2016 Report Share Posted March 30, 2016 Apologies if this is a daft question, but would I have to pay the £12 on top of my current £10 p/m SMiSA sub? ETA: http://www.smisa.net/news-archive/188-sgm-mar16 As suspected, it doesn't look like it. As others said, the £12 is split... £10 towards the purchase of the shares, and the £2 to SMiSA for investment as decided by the membship. If already paying £10 then I guess the options would be up it to £12... ... or £20 if feeling generous and wanting to continue investing at a higher level in SMiSA whilst buying the shares. Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted March 30, 2016 Report Share Posted March 30, 2016 £1.2m for a 68% shareholding would value the club at a total of £1.764m if I've understood things right. I'm not sure how good a deal that is for a business that hasn't returned any significant operating profit in any of the last 16 years, or a business where the current owners have a stated belief that the business model is only viable with Celtic and "Rangers" playing in the Scottish Leagues. Regardless - I'm in, and I just hope that Gordon Scott and SMiSA can deliver the kind of socially responsible, community focused football club that everyone in Renfrewshire can be proud of. It is under a million Stuart. Not sure who quoted 1.2 millions. Quote Link to comment Share on other sites More sharing options...
FS Posted March 30, 2016 Report Share Posted March 30, 2016 I'm in ! Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 It is under a million Stuart. Not sure who quoted 1.2 millions. was it noted who the money was being borrowed from? Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted March 30, 2016 Report Share Posted March 30, 2016 It is under a million Stuart. Not sure who quoted 1.2 millions. £10 per month, 12 months per year, 1000 members, 10 years = £1.2m. I know my sums can be ropey but I don't think I've got that one wrong. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted March 30, 2016 Report Share Posted March 30, 2016 was it noted who the money was being borrowed from? The e-mail tonight said the next step was to secure a loan Richard. I'm not sure they've got one yet. Quote Link to comment Share on other sites More sharing options...
buddiecat Posted March 30, 2016 Report Share Posted March 30, 2016 £1.2m for a 68% shareholding would value the club at a total of £1.764m if I've understood things right. I'm not sure how good a deal that is for a business that hasn't returned any significant operating profit in any of the last 16 years, or a business where the current owners have a stated belief that the business model is only viable with Celtic and "Rangers" playing in the Scottish Leagues. Regardless - I'm in, and I just hope that Gordon Scott and SMiSA can deliver the kind of socially responsible, community focused football club that everyone in Renfrewshire can be proud of. It's not £1.2m and any money raised will go to make the club better in a football and community sense, it is about making money not profit, as the money will be spent to achieve the ambitions, firstly though i would expect the club to become more successful than of late and build on that year on year, it really is up to the fans to subscribe to it, if you are a member then you can raise your subscription to £12 or if already paying more then that's great, also there is no upper limit to how much new members can subscribe. Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 The e-mail tonight said the next step was to secure a loan Richard. I'm not sure they've got one yet. sorry badly worded...did they say who they were approaching? Quote Link to comment Share on other sites More sharing options...
buddiecat Posted March 30, 2016 Report Share Posted March 30, 2016 was it noted who the money was being borrowed from? Not yet, just that it will be from ethical lenders, we needed the approval from members tonight to take it to the lawyers and the lender. Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 (edited) Not yet, just that it will be from ethical lenders, we needed the approval from members tonight to take it to the lawyers and the lender. but do they know who they are approaching, and have had tentative talks already, or has no body been spoken to in the lending sector yet at all? to put it another way are there names in the frame for this lending already or not? Edited March 30, 2016 by rea Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted March 30, 2016 Report Share Posted March 30, 2016 £10 per month, 12 months per year, 1000 members, 10 years = £1.2m. I know my sums can be ropey but I don't think I've got that one wrong. That might be how much is raised and if so all the better for the club as there will be excess to invest, but I can assure you the sale price is under a million... Half the original asking price. Excellent negotiations by SMiSA and GLS. Quote Link to comment Share on other sites More sharing options...
gazmc83 Posted March 30, 2016 Report Share Posted March 30, 2016 I'm in Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 That might be how much is raised and if so all the better for the club as there will be excess to invest, but I can assure you the sale price is under a million... Half the original asking price. Excellent negotiations by SMiSA and GLS. was the price named? Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted March 30, 2016 Report Share Posted March 30, 2016 but do they know who they are approaching, and have had tentative talks already, or has no body been spoken to in the lending sector yet at all? to put it another way are there names in the frame for this lending already or not? None that were shared but I would be surprised and disappointed if preparatory work wasn't at an advanced stage. "Ethical lenders" were all we were told and at this stage, that is good enough for me. Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted March 30, 2016 Report Share Posted March 30, 2016 was the price named? Why weren't you there? Quote Link to comment Share on other sites More sharing options...
div Posted March 30, 2016 Author Report Share Posted March 30, 2016 £10 per month, 12 months per year, 1000 members, 10 years = £1.2m. I know my sums can be ropey but I don't think I've got that one wrong. £10 of the £12 is going towards the buying of the shares, £2 is going towards continuing to fund SMiSA initiatives. So over the course of the 10 years total raised by the fans would be £1m which I believe is £960K for the shares plus £40K to cover the £20K of legal costs plus the £20K of SMiSA funds that are being put down as a deposit. Or something like that anyway. Cost is just under £1 million and that has been verified by Supporters Direct as being a fair and reasonable price to pay. That's what I am taking from the SMiSA website statement anyway. Quote Link to comment Share on other sites More sharing options...
buddiecat Posted March 30, 2016 Report Share Posted March 30, 2016 but do they know who they are approaching, and have had tentative talks already, or has no body been spoken to in the lending sector yet at all? to put it another way are there names in the frame for this lending already or not? Not party to this info, it is still with the SMiSA group who have done all the negotiations, they have spoken to many financial groups is all i know. Quote Link to comment Share on other sites More sharing options...
buddiecat Posted March 30, 2016 Report Share Posted March 30, 2016 £10 of the £12 is going towards the buying of the shares, £2 is going towards continuing to fund SMiSA initiatives. So over the course of the 10 years total raised by the fans would be £1m which I believe is £960K for the shares plus £40K to cover the £20K of legal costs plus the £20K of SMiSA funds that are being put down as a deposit. Or something like that anyway. Cost is just under £1 million and that has been verified by Supporters Direct as being a fair and reasonable price to pay. That's what I am taking from the SMiSA website statement anyway. Almost right, but the legal costs are not subject to being repaid AFAIK and the deposit is just that - a deposit which will be returned to SMiSA funds that £40k total is not part of the cost to be paid and is not being recouped from new members or old ones like me. Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 Not party to this info, it is still with the SMiSA group who have done all the negotiations, they have spoken to many financial groups is all i know. good. hopefully just i's and t's to be crossed then Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 (edited) Why weren't you there? is that asking me WHY was I not there...or why? were you not there! does that make sense? Edited March 30, 2016 by rea Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted March 30, 2016 Report Share Posted March 30, 2016 is that asking me WHY was I not there...or why? were you not there! does that make sense? lol It does indeed. The former... Just being nosey! Your question has been answered. Quote Link to comment Share on other sites More sharing options...
rea Posted March 30, 2016 Report Share Posted March 30, 2016 lol It does indeed. The former... Just being nosey! Your question has been answered. I am no longer a SMISA member and as i understood it was members only tonight Quote Link to comment Share on other sites More sharing options...
div Posted March 30, 2016 Author Report Share Posted March 30, 2016 It's a lot of money to borrow still. A lender dishing out £400K to a bunch of football fans is going to need some sort of security or guarantee over that loan. Obviously still to be confirmed who it is and how the loan is structured but that's the detail I think we all need to understand. Quote Link to comment Share on other sites More sharing options...
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