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buddiecat

Buy The Buds

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I've signed up for this and I hope it reaches its target but I personally think it's doomed for failure, usual Paisley apathy (not on behalf of smisa I may add). If there was a real will by the support to do this, there would be 1500 sign ups by now and not the miserly number we've currently got.

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10000hrs had more publicly it had 2 or 3 public meetings within a very short space of time. This bid has missed a great opportunity to engage the general support.

This is not just a 10 year thing you will still have to continue to pay after year 10. This is one question that looks to be unanswered this could end up as a life long commitment to continually fund or invest in the club

You will not be required to keep paying after ten years as the shares would be bought from Gordon by then, you can of course choose to remain a member of SMiSA and reduce your payment, and of course you can just withdraw your funding and be pleased with what you helped achieve for your club.

Edited by buddiecat

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Just my take on it, but there simply does not seem to be any buzz or urgency, or any great visibility from the bid leaders. There was an initial burst when the 'DivDesigned' website appeared like a rabbit out a hat, but since then? You'd hardly know St Mirren was even up for sale - never mind the fact there are supposedly other bidders just waiting for the SMiSA/GLS bid to flounder. I believe the term being used is 'the club WILL be sold....'

Maybe there is an explanation. Maybe the bid leaders are waiting for the public meeting. Maybe they will announce an updated total of sign ups at the meeting that is hugely encouraging. Maybe they are simply keeping their powder dry until that meeting. Time will tell.

Hope the meeting produces something positive, because in the words of Bjork.. It's oh so quiet.

Edited by pozbaird

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A deadline will eventually be imposed and that is when you will get the late rush.

It's a bit unfair to compare 10000Hours rate of sign ups to this bid as the original direct debits were collected over the course of a year. They had to be converted to online mandates because they had expired (and the online system didn't exist when the bid started).

There were hundreds of mandates converted, maybe 800 or so, and then there were 500 more signed up online as the deadline loomed and people realised that it might actually happen.

I wouldn't be too critical of a bid that has 550 folk signed up within 3 weeks, I reckon that's good going to be honest.

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But it was GLS who put the end of may to get 1000 or the deal would not go ahead I think they will struggle to reach it if im honest in the last 2 days there were 10 people signed up if it continues like that then they wont even get 700.

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You will not be required to keep paying after ten years as the shares would be bought from Gordon by then, you can of course choose to remain a member of SMiSA and reduce your payment, and of course you can just withdraw your funding and be pleased with what you helped achieve for your club.

Would it be the committee of SMiSA that sets the ongoing monthly fee or all the members?

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[quote name="Isle Of Bute Saint" post="1365101" timestamp="1462794035

Anyone out there not signed up care to say the reason.

I've been trying to, but the system isn't geared up to accept me, because I don't have a UK postcode. I've been on to SmISA who tell me the issue is being addressed.

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Would it be the committee of SMiSA that sets the ongoing monthly fee or all the members?

All the members - individually - could decide if they wish to continue supporting the core business of SMiSA - which is supporting the club and providing financial help to the Youth academy etc., there would of course be the needs of the clubs first team to consider as well. The members for example were advised at one point that due to a lack of available shares, the initial subscription amount was reduced, so any members of SMiSA could request a review of the subscription amount be taken and then we could all vote on it. Nobody is legally bound to pay their monthly subscription.

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All the members - individually - could decide if they wish to continue supporting the core business of SMiSA - which is supporting the club and providing financial help to the Youth academy etc., there would of course be the needs of the clubs first team to consider as well. The members for example were advised at one point that due to a lack of available shares, the initial subscription amount was reduced, so any members of SMiSA could request a review of the subscription amount be taken and then we could all vote on it. Nobody is legally bound to pay their monthly subscription.

Just checking BC. It's all the current members that set the monthly fee and not just the committee/board?

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You will not be required to keep paying after ten years as the shares would be bought from Gordon by then, you can of course choose to remain a member of SMiSA and reduce your payment, and of course you can just withdraw your funding and be pleased with what you helped achieve for your club.

But note that if you stop being a member you cease being able to vote regarding the shares that SMISA own and that you may have helped support for the 10 years previously.

It is membership that gives you your OMOV rights

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I've signed up for this and I hope it reaches its target but I personally think it's doomed for failure, usual Paisley apathy (not on behalf of smisa I may add). If there was a real will by the support to do this, there would be 1500 sign ups by now and not the miserly number we've currently got.

I will get round to signing up...

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Just checking BC. It's all the current members that set the monthly fee and not just the committee/board?

Yes, for normal SMiSA core business, the buyout bid is different though - it has been set by the buyout group because there is a target to achieve.

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But note that if you stop being a member you cease being able to vote regarding the shares that SMISA own and that you may have helped support for the 10 years previously.

It is membership that gives you your OMOV rights

Correct Richard but the membership subscription will be reset after the ten years.

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Add to the fact if you pay £2500 you own 10 shares for life yet if you pay £1400 and stop paying after 10 years you own nothing

From an outsiders view definitely not value for money then you add the fact this is all about buying shares and not investing in the club ie first team which at the end of the day is what we watch every season

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Correct Richard but the membership subscription will be reset after the ten years.

You may recall an earlier post where the question of the formality of the money split of the £12 was raised. This is still important for all sorts of reasons

Is it a £12 membership fee to join SMISA now with the board deciding how the money is spent e.g £10 to bid and £2 for internal funds

OR

Is it a £2 membership fee with a £10 "donation" to the current bid

Currently I understand it to be option 1.

But the consequences of that for the long term need to be considered.

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This is going to happen, because Saints fans want it to happen!

The stories coming through of people contacting Smisa to just donate money because they don't think they will see out a ten year subscription, and family members getting in touch to secure a membership in memory of their departed loved ones who quote: "would have signed up if they were here, so thats why we are doing what they would have wanted" fill your heart with pride to be a buddie.

Come on Buds... Lets be 'aving you!

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I wouldn't say it's been well advertised.I still talk to folk who know nothing about it.

I had one guy in my car asking if I knew what the protest was about at Dumbarton.

Loads of people don't use B&WA,loads of folk don't use Facebook or Twitter and while there's been a fair bit about it in the Express....it's not got a huge circulation in the Town anymore.

A couple of mentions on BBC Scotland Sports Show or a 30 second snippet at the end of STV Sports news is hardly going to reach the masses.

I know the guys are working hard but as I say.....there's still lots know nothing.

I guess you just described the perfect viral scenario..

You are talking about it, and people that dont even yet know the detail are talking about it.... I can promise you this, its only gonna get bigger bud!

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and family members getting in touch to secure a membership in memory of their departed loved ones who quote: "would have signed up if they were here, so thats why we are doing what they would have wanted"

I've been waiting since April 27th for someone from smisa to get in touch with me about this.Buddiecat explained that they'd rather get the bid up and running first which is fair enough.I then got a message from thewhiteman asking for my e mail and someone would be in touch.

I'm still waiting.

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I've been waiting since April 27th for someone from smisa to get in touch with me about this.Buddiecat explained that they'd rather get the bid up and running first which is fair enough.I then got a message from thewhiteman asking for my e mail and someone would be in touch.

I'm still waiting.

I am sure that someone will be in touch soon. KTF!

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HSS, apologies, for delay, i am checking this out right now

Communication has been a long time failing of SMFC.I urge SMISA to make it one of their priorities.

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You may recall an earlier post where the question of the formality of the money split of the £12 was raised. This is still important for all sorts of reasons

Is it a £12 membership fee to join SMISA now with the board deciding how the money is spent e.g £10 to bid and £2 for internal funds

OR

Is it a £2 membership fee with a £10 "donation" to the current bid

Currently I understand it to be option 1.

But the consequences of that for the long term need to be considered.

Questions like this need to be answered by the committee members in the buyout group Richard, i will give you my answer, but all questions of this ilk need to be directed to [email protected] to get the official line.

As far as i understand it £10 goes to buy shares and £2 is for SMiSA funds for the members of SMiSA to decide on where they are spent. Referred to recently as a "rainy day" fund, but in truth it's just what SMiSA do now.

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