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Smisa & Gordon Scott Submit Bid


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Given that the available info states this is just a 'proposed' bid by Smisa, and as yet there had been no reaction from the selling cartel, may be a few people might be getting a bit ahead of themselves!

The selling cartel have as has been mentioned on this board, so far not given Smisa a figure they would accept, with that in mind its highly likely they may not agree with the proposal. Perhaps hoping the 'Mythical' Anglo Scottish bid tops what the fans are offering....

But at least the milliion quid figure is out there now. If they are looking for more tell them the fans bid will be back after the parachute payments run out.

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For what it's worth the attached documents give details of every shareholder when the accounts were filed in 2014 (the ones for last year aren't yet available on the Companies House website). You can't see the individual make-up of the selling consortium's shares as they are in Douglas Street.

It's been lodged at Companies House so I don't think any confidences are being broken!

application-pdf.pdf

Edited by Stu
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If this goes through, I'll be excited and shitting myself in equal measure.

That's what football should be all about....

Bring it on!!!!

I don't think I've ever known anyone that measures their shit. Or their excitement. Why would you do that ? What measurement scale do you use ?

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I don't think I've ever known anyone that measures their shit. Or their excitement. Why would you do that ? What measurement scale do you use ?

Just wait until you are my age and the NHS send you the Yearly Bowel Cancer Test kit........

Got this years one yesterday.Flush.gif

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Just wait until you are my age and the NHS send you the Yearly Bowel Cancer Test kit........

Got this years one yesterday.Flush.gif

You must be at risk Gerry, every 2 years i get mine, i never want to show my face in Dundee in case someone from the test place hears my name and puts a number 2 and 2 together

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Ann Sold for around £30m Gordon was reported to have sold for enough to make him a millionaire, having been at both there Gaffs, neither are short for cash, though GLS football shirt collection is significantly bigger

I really hope the news of this bid attracts the attention of a consortium with more cash to invest than the smisa/scott partnership.

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What costs?

There will be thousands of pounds of legal and accounting costs.

There was at Hearts in just writing the contract between Bidco and Fanco.

Does each party pay there own costs or do they all go into a big repayment pot.

There will also be stamp duty and lots of sundry stuff.

A takeover even of thus scale will cost thousands if not tens of thousands.

SMISA have already spent thousands on the finance report via SD

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There will be thousands of pounds of legal and accounting costs.

There was at Hearts in just writing the contract between Bidco and Fanco.

Does each party pay there own costs or do they all go into a big repayment pot.

There will also be stamp duty and lots of sundry stuff.

A takeover even of thus scale will cost thousands if not tens of thousands.

SMISA have already spent thousands on the finance report via SD

Thanks. Helpful to know the specifics.

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Communication from SMiSA;

Dear SMiSA member

You may have spotted stories in the media today which reported the trust has made an offer for shares held in St Mirren. With this in mind, we wanted to bring members up to date on progress with our bid.

As you know, we have been working with former St Mirren director Gordon Scott with the aim of buying into the club. The basic structure of the proposed deal would see Gordon put up a substantial sum and SMiSA fundraising the rest from the supporters, with Gordon becoming chairman and main shareholder, and SMiSA getting a place on the board.

However there would be a legal agreement allowing us to buy Gordon out over the long term and thus achieve majority fan ownership of the club at some point in the future.

We have submitted a conditional proposal to the consortium, and would stress that one of the conditions is that nothing will be formalised without the approval of SMiSA members.

So if a deal was to be agreed in principle with the consortium, we would put the terms of that before our members and ask them to vote on whether we proceed. If the membership agreed, we would start fundraising, and the wider support would then have it in their power to make it happen.

As things stand, no agreement has been made with the consortium. However we remain in contact with them and look forward to maintaining a positive dialogue. We have been working on this process behind the scenes now for months and while it has gone on longer than we would have liked, that is because we are determined to do it right.

We believe that nobody will take better care of our club than you, the supporters, and that working with Gordon offers a sustainable route through which the fans can safeguard St Mirren’s future.

Ultimately we are negotiating on behalf of you, the supporters, and we take that responsibility seriously. We are only going to put a deal in front of the fans if we are confident it is robust and viable – at which point it would be your call what happens next.

We hope you appreciate that due to the sensitive nature of the discussions, we are unable to say any more than we have at present, however we will keep members updated where it is appropriate to do so.

The SMiSA committee

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