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Smisa & Gordon Scott Submit Bid

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Tempted to sign back up and be a part of the revolution?

i think i now get the chance to ask those pesky questions...maybe even create an alias to do so (maybe Steve McQueen or James Coburn would be suitable...keep old Yul company...who is still very much around BTW)

hopeful all being well i would be delighted to join up..if welcome

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i think i now get the chance to ask those pesky questions...maybe even create an alias to do so (maybe Steve McQueen or James Coburn would be suitable...keep old Yul company...who is still very much around BTW)

hopeful all being well i would be delighted to join up..if welcome

They let me join, so I don't think they are that fussy thumbup2.gif

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Pretty sure I'll sign up too, but not saying 100%, until I know a lot more than I currently do.

For example, we need to know about the supporter getting a seat at the boardroom table... Will the seat be reserved, will it be non-specific, and how easy will it be for them to bring a mate to sit beside them?

See? I've got my finger on the pulse of the week's bigger issues.

Will it be padded and not a cell I talking about. whistling.gif

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I heard it was you and it was interest free.....

Stranger things have happened....not much stranger though.

Will be interesting to see what rate of interest the "ethical lenders" charge and what interest swaps they will negotiate.

Remember that in 10000hours if we delivered certain community benefits then the interest was not payable.

Still a good chance an individual may Bank roll instead.

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You would most CERTAINLY be welcomed were that the case.

No-one tell Yul/Somner/Lookatme, though....

To be fair to Tony....he was/is not Yul...and I don't think he was one of the 7 pals..at least not one of the 5 names I have... Edited by rea

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Half the original asking price.

Not only half the asking price, but an additional 26% extra shares from Douglas Street (bought up last year to help to get to 75% with legal agreement from other large shareholders - KMcG & GLS).

In this deal as I have indicated before GLS has stated he does not want his current shareholding paid back by the St Mirren fans. In 10000Hours the agreement was for this to be returned at a later date IIRC.

The man has massive passion for taking the club forward. He says he is achieving an ambition of becoming chairman. He is sacrificing his previous financial investment (8%) and taking on the challenge of driving this club forward with additional financial risk.

Let's support this takeover. Try and get everyone you know to get on board to reach this goal as quickly as possible. Assuming everyone keeps the DD of £12 going after the loans have been paid off, then think what can be achieved for the club and the community moving forward.

Perhaps GLS & Fitzys dreams of European football, safe standing, filled in corners are closer to reality than we would have thought a few weeks ago.

Edited by Slash

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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.

Not only half the asking price, but an additional 26% extra shares from Douglas Street (bought up last year to help to get to 75% with legal agreement from other large shareholders - KMcG & GLS).

In this deal as I have indicated before GLS has stated he does not want his current shareholding paid back by the St Mirren fans. In 10000Hours the agreement was for this to be returned at a later date IIRC.

The man has massive passion for taking the club forward. He says he is achieving an ambition of becoming chairman. He is sacrificing his previous financial investment (8%) and taking on the challenge of driving this club forward with additional financial risk.

Let's support this takeover. Try and get everyone you know to get on board to reach this goal as quickly as possible. Assuming everyone keeps the DD of £12 going after the loans have been paid off, then think what can be achieved for the club and the community moving forward.

Perhaps GLS & Fitzys dreams of European football, safe standing, filled in corners are closer to reality than we would have thought a few weeks ago.

To be fair there is no legal advantage to owning more than 50% plus 1 share unless you get to 75%plus one share so with SMISA starting on 29% they only need to actually buy 21% of GS meaning much more would be available direct to Club quicker (tax rules permitting) and the overall process would cost the fans less

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To be fair there is no legal advantage to owning more than 50% plus 1 share unless you get to 75%plus one share so with SMISA starting on 29% they only need to actually buy 21% of GS meaning much more would be available direct to Club quicker (tax rules permitting) and the overall process would cost the fans less

I don't dispute that. However this deal is costing the fans a lot less than what was negotiated previously. The added bonus is that there are more shares on offer. It is also a simple to understand model of financing the repayments.

What's not to like about that?

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To be fair there is no legal advantage to owning more than 50% plus 1 share unless you get to 75%plus one share so with SMISA starting on 29% they only need to actually buy 21% of GS meaning much more would be available direct to Club quicker (tax rules permitting) and the overall process would cost the fans less

But the aim is to pass the 75% mark which will have massive advantages when it comes to fan ownership.

Start as you mean to go on with clearly expressed aims and targets.

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I don't dispute that. However this deal is costing the fans a lot less than what was negotiated previously. The added bonus is that there are more shares on offer. It is also a simple to understand model of financing the repayments.

What's not to like about that?

Nothing it's a great deal. Just commenting that unless the aim is to get to 75 plus 1 then there is not a lot of point of getting past 50 plus 1.

Personally 75 plus 1 should be the target and the agreement should definitely include the drag along clause to buy Gordon's shares when the cash is in hand

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But the aim is to pass the 75% mark which will have massive advantages when it comes to fan ownership.

Start as you mean to go on with clearly expressed aims and targets.

See post just made.

75 plus 1 is definitely what should be legally enabled over time

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i think i now get the chance to ask those pesky questions...maybe even create an alias to do so (maybe Steve McQueen or James Coburn would be suitable...keep old Yul company...who is still very much around BTW)

hopeful all being well i would be delighted to join up..if welcome

They let me join, and I'm just a HoF obsessed moaning-faced, ginger whinger keyboard warrior with soaked knickers due to the constant stream of urine in the gusset.

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Nothing it's a great deal. Just commenting that unless the aim is to get to 75 plus 1 then there is not a lot of point of getting past 50 plus 1.

Personally 75 plus 1 should be the target and the agreement should definitely include the drag along clause to buy Gordon's shares when the cash is in hand

Buying 68% and adding tgat to GLS 8% and SMiSA's 3.4 % takes us over the 75%

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Stranger things have happened....not much stranger though.

Will be interesting to see what rate of interest the "ethical lenders" charge and what interest swaps they will negotiate.

Remember that in 10000hours if we delivered certain community benefits then the interest was not payable.

Still a good chance an individual may Bank roll instead.

So, the lender, in your view, has a good chance of being a St Mirren minded individual of an Ann Budge nature, and not an institutuonal lender?

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Buying 68% and adding tgat to GLS 8% and SMiSA's 3.4 % takes us over the 75%

Indeed 75 % is the key and aim should be for SMISA to control through ownership it all in time so that any special resolutions can be controlled directly by the fans

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So, the lender, in your view, has a good chance of being a St Mirren minded individual of an Ann Budge nature, and not an institutuonal lender?

Not in my read8ng of the proposal.

"Ethical lender" phrase is used which is an institutional term.

However it is not a lot of money to start with and there are ways of joining a few individuals together to create a type of lender which could be an approach so that rather than 1 Ann budge with 2m quid you need 8 saints with 50k each

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Not in my read8ng of the proposal.

"Ethical lender" phrase is used which is an institutional term.

However it is not a lot of money to start with and there are ways of joining a few individuals together to create a type of lender which could be an approach so that rather than 1 Ann budge with 2m quid you need 8 saints with 50k each

Are you in Richard????

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Not in my read8ng of the proposal.

"Ethical lender" phrase is used which is an institutional term.

However it is not a lot of money to start with and there are ways of joining a few individuals together to create a type of lender which could be an approach so that rather than 1 Ann budge with 2m quid you need 8 saints with 50k each

I didn't read it in the proposal either Richard, I was referring to the last line of your post, which lead me to believe you felt an Ann Budge-esque individual could be the lender....

"Still a good chance an individual may bankroll instead".

My follow up question naturally would have been, if such an individual existed and was willing to bankroll such a large figure, where have they been for the last six plus years.

Edited by pozbaird

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I didn't read it in the proposal either Richard, I was referring to the last line of your post, which lead me to believe you felt an Ann Budge-esque individual could be the lender....

"Still a good chance an individual may bankroll instead".

My follow up question naturally would have been, if such an individual existed and was willing to bankroll such a large figure, where have they been for the last six plus years.

Indeed. But in a similar way Ann was only prepared to get involved when a suitable exit strategy provided by FoH was available...FoH came before Ann was willing or even approached to fund

So a bit chicken an egg if SMISA create the right structure who knows who may then appear.

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