Jump to content

buddiecat

Buy The Buds

Recommended Posts

I've noticed a couple of people say that they aren't backing the bid as they don't want to join SMISA.

If that's the case for anyone on here, can I ask why? I'm not really clear and just trying to understand! For me, I just see Smisa as the vehicle to takeover the club. Once it's fully in control of the fans then Smisa would become irrelevant...

Share this post


Link to post
Share on other sites

I've noticed a couple of people say that they aren't backing the bid as they don't want to join SMISA.

If that's the case for anyone on here, can I ask why? I'm not really clear and just trying to understand! For me, I just see Smisa as the vehicle to takeover the club. Once it's fully in control of the fans then Smisa would become irrelevant...

Hardly! If the process goes to plan then SMiSA will eventually hold 75% of the shares in the club. That's hardly irrelevant. Fans of the club would have to be members of SMiSA to have any say in the running of the club.

Share this post


Link to post
Share on other sites

I won't be able to attend the meeting tomorrow for a number of reasons, but can someone please put forward a question for me asking about the business model the buying group intend to follow after concluding the purchase of the club? I have signed up but this is quite an important issue for me. Will the club become Social Enterprise, a non profit organisation, or is the intention to run the club as it currently is being run with the potential for shareholders dividends etc?

Share this post


Link to post
Share on other sites

Agree it's very vague, so IS there a cut off date?

PS The reason I'm trying to clarify this is is that I see it as a major issue as a definite date would, IMO, focus peoples attention on the matter.

If there's not cut off date it gives the impression this could drag on, and people won't decide.

Perhaps they are waiting to see if this thing flies without pressure being applied first.

Maybe we'll see a change of focus and intensity if the target hasn't been met by the end of the month and perhaps then we'll see a firm deadline being applied.

Share this post


Link to post
Share on other sites

Perhaps they are waiting to see if this thing flies without pressure being applied first.

Maybe we'll see a change of focus and intensity if the target hasn't been met by the end of the month and perhaps then we'll see a firm deadline being applied.

Indeed, "perhaps" and "maybe", not particularly clear for a business deal at this stage of the game.

Share this post


Link to post
Share on other sites

Hardly! If the process goes to plan then SMiSA will eventually hold 75% of the shares in the club. That's hardly irrelevant. Fans of the club would have to be members of SMiSA to have any say in the running of the club.

But it wouldn't be SMiSA as we know it now surely? It would have to be structured differently would it not?

Surely you are just a member of the club once the takeover is complete and all shares are transferred in time?

Share this post


Link to post
Share on other sites

But it wouldn't be SMiSA as we know it now surely? It would have to be structured differently would it not?

Surely you are just a member of the club once the takeover is complete and all shares are transferred in time?

You are a member of Smisa if you sign up, and as such Smisa will hold nearly 30% of the shares in SMFC from the outset. So you need to be in it, to win it.

The club will carry on being the club, just with different majority shareholders Smisa & GLS. Get along tomorrow night and i am sure any questions you have will be answered.

Share this post


Link to post
Share on other sites

But it wouldn't be SMiSA as we know it now surely? It would have to be structured differently would it not?

Surely you are just a member of the club once the takeover is complete and all shares are transferred in time?

I would say it would be , SIMSA and its members are buying the shares and eventually buying enough shares to have control .At the end of the process SIMSA as it is now will be the main shareholder in the club , and members of SIMSA will only be members of SIMSA ,they will not be owners.

Share this post


Link to post
Share on other sites

I would say it would be , SIMSA and its members are buying the shares and eventually buying enough shares to have control .At the end of the process SIMSA as it is now will be the main shareholder in the club , and members of SIMSA will only be members of SIMSA ,they will not be owners.

If you are a member of SMISA you own a single share and have IIRC £1 liability in the CBS

SMISA is owned by its members. It is this Member Owned company that owns the shares, and through its articles of associationthe members control the election of the board of SMISA who as Directors control the voting rights of the shares that SMISA own at the CLUB AGM.

SMISA must stay as the owning organisation and members should make sure they understand how it all legally hangs together, hopefully the Bid team will make this clear tonight

Share this post


Link to post
Share on other sites

If you are a member of SMISA you own a single share and have IIRC £1 liability in the CBS

SMISA is owned by its members. It is this Member Owned company that owns the shares, and through its articles of associationthe members control the election of the board of SMISA who as Directors control the voting rights of the shares that SMISA own at the CLUB AGM.

SMISA must stay as the owning organisation and members should make sure they understand how it all legally hangs together, hopefully the Bid team will make this clear tonight

Is the meeting not tomorrow night?

Share this post


Link to post
Share on other sites

If you are a member of SMISA you own a single share and have IIRC £1 liability in the CBS

SMISA is owned by its members. It is this Member Owned company that owns the shares, and through its articles of associationthe members control the election of the board of SMISA who as Directors control the voting rights of the shares that SMISA own at the CLUB AGM.

SMISA must stay as the owning organisation and members should make sure they understand how it all legally hangs together, hopefully the Bid team will make this clear tonight

Doesn't that play straight into the hands of those who believe the communication surrounding the meeting has not been well publicised ? :P

Share this post


Link to post
Share on other sites

good meeting tonight thanks to all who attended

whistling.gif

Oh , Please , Don`t !!! There will be the usual suspects on here complaining about mis-information, moaning that they didnt know it had been brought forward ! bangin.gif

& before they do....... THE MEETING IS TONIGHT 7.00 PM AT ST.MIRREN PARK. thumbup2.gif

Share this post


Link to post
Share on other sites

I know there is a meeting tonight but there is no chance in hell they are going to get 1000 people to sign up for this by the end of the month there is 563 just now so they need about 36 a day for next 12 days to reach there target .I think its round about 5 a day at the minute its going to be a big big ask to get there they might hit the target eventually but its gong to be nowhere near by the end of month that GLS was looking for .This could drag on for a good while yet.

Share this post


Link to post
Share on other sites

I know there is a meeting tonight but there is no chance in hell they are going to get 1000 people to sign up for this by the end of the month there is 563 just now so they need about 36 a day for next 12 days to reach there target .I think its round about 5 a day at the minute its going to be a big big ask to get there they might hit the target eventually but its gong to be nowhere near by the end of month that GLS was looking for .This could drag on for a good while yet.

Aye, you've said.

Repeatedly casting a shadow over things won't help.

Share this post


Link to post
Share on other sites

Aye, you've said.

Repeatedly casting a shadow over things won't help.

It won't do any harm either, will it? blink.png

Would you prefer the wildly exaggerated forecasts posted by some?

Posts here are as good as meaningless in the wider picture so no need to try to mute points that don't fit with yours.

Share this post


Link to post
Share on other sites

As I posted a coupla weeks ago

The 10000hours bid was opened to online subscriptions on June 1 2012 with a June 15 deadline.

http://www.blackandwhitearmy.com/forums/index.php/topic/34125-10000hours-online-direct-debits-live/

By June 14 with less than 48 hours till the deadline they were still well short

http://www.blackandwhitearmy.com/forums/index.php/topic/34203-two-days-left-time-to-decide-or-to-roll-the-dice/

Here's a quote from div in the run-up to that final weekend.

As of 2 mins ago;

£5880 per month now in place on Individual subscriptions, 78% of target.

That has come from 484 individual subscribers. Growth in the last 24 hours was 8%, going to be touch and go whether we get there or not.

Gordon is working hard on the other membership tiers, personally contacting individuals who have expressed an interest.

The rush to join the 10000hours bid didn't come till the final weekend when a decision had to made. In comparison the present bid currently standing at 489 subscribers is quite healthy IMO.

Obviously the target for 10000hours was lower but again IMO a lot of people will be holding off on the current bid until they see how close it is to the target. I suspect that once again there'll be a tipping point which if reached will result in a rush to join. Maybe once again it'll come down to a nailbiting final 48 hours.

Like I said then it'll go down to the wire with many folk waiting to see if the bid is going to be successful before committing - here's hoping SMiSA reach that tipping point they need but I see no reason to be despondent at present.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...