Are You Going To Sign Up To Join #buythebuds At Smisa.net?

[Lord Pityme]

It can't be over emphasised, we need 1000 buds signed up for £12 a month!

That is the deal the sellers gave Smisa after a lot of hard bargaining to be able to buy the club with Gordon at what most see as a realistic price.

A big push needed now pay day is almost here, talk to your mates, your neighbours, your Granny... Get them signed up, go round with your tablet, phone or laptop and help them sign up.

lets get over the line in time!

#BuyTheBuds

[gazmc83]

Is the timetable for the sale and agreement to be done before July? That's when DD's are due to begin , personally if I sign up to the bid it will only be with regards to the bid I have no other interest in joining SMISA or giving them money

yes Gordon indicated he hoped to gain control at end of May , so direct debits in July will only be taken if the deal is actually going ahead

[linwood buddie]

yes Gordon indicated he hoped to gain control at end of May , so direct debits in July will only be taken if the deal is actually going ahead

Thanks mate ,still trying to push myself over the line with regards to joining and just wee niggles that pop up.

[Sonny]

It can't be over emphasised, we need 1000 buds signed up for £12 a month!

That is the deal the sellers gave Smisa after a lot of hard bargaining to be able to buy the club with Gordon at what most see as a realistic price.

A big push needed now pay day is almost here, talk to your mates, your neighbours, your Granny... Get them signed up, go round with your tablet, phone or laptop and help them sign up.

lets get over the line in time!

#BuyTheBuds

Not disagreeing but with a hard core support of 2,500 and 1500 season ticket holders these are the people more likely to sign up than my neighbour and should be the target for the sales pitch.

Personally I would have expected more at this stage. 430 signed up after the initial launch and only 4 weeks to get another 570. A lot of hard work is still required.

Edited April 27, 2016 by Sonny

[rea]

Question for REA. What benefit does 75% bring and how important is it.

Devils advocate here but Gordon Scott has withdrawn his 8% that he was wanting to punt with the rest of them which takes it to 68%. If the 75% is important he effectively has smisa over a barrel with regards to getting the 75% easily. Why would his 8% not be in the pot as well?

owning 75% plus one share means that you can pass a special resolution under your own steam at a General Meeting.

Special resolutions are important when it comes to such issue of asset transfer or sale and the issue of new share capital to fund a company.

on the flip side that is why 25% plus one is important as is stops anyone without consultation passing a special resolution

[rea]

Is the timetable for the sale and agreement to be done before July? That's when DD's are due to begin , personally if I sign up to the bid it will only be with regards to the bid I have no other interest in joining SIMSA or giving them money

Remember your DD are with Gocardless not SMISA. Gocardless contract for 1% to pay the money they collect from you to SMISA.

The DD Guarantee is with GC

[linwood buddie]

I will be waiting to the very last minute to sign up if I decide I want to, you get close to joining and another wee curve ball is thrown a.This time its GS reportedly withdrawing his 8% from the bid which will leave it below the 75% we were told we would be buying ,very confusing.

[linwood buddie]

Remember your DD are with Gocardless not SMISA. Gocardless contract for 1% to pay the money they collect from you to SMISA.

The DD Guarantee is with GC

Ultimately the money goes to SIMSA mate , it makes no difference to me is its GC or Western Union the money is still going to SIMSA.

[gazmc83]

I will be waiting to the very last minute to sign up if I decide I want to, you get close to joining and another wee curve ball is thrown a.This time its GS reportedly withdrawing his 8% from the bid which will leave it below the 75% we were told we would be buying ,very confusing.

The 68% was in the public domain from the beginning mate ... Although its not in writing myself and others are sure that Gordon stated at the meeting that he would give his 8% when fans are ready to buy him out . Unfortunately this isn't a fact as it isn't it writing but thats what he said at the meeting Edited April 27, 2016 by gazmc83

[linwood buddie]

The 68% was in the public domain from the beginning mate ... Although its not in writing myself and others are sure that Gordon stated at the meeting that he would give his 8% when fans are ready to buy him out . Unfortunately this isn't a fact as it isn't it writing but thats what he said at the meeting ImageUploadedByBlack & White Army1461754664.226591.jpg

Thanks again mate.

[gazmc83]

Email sent to SMISA just to confirm this

Edited April 27, 2016 by gazmc83

[gazmc83]

Answer from SMISA regarding Gordon's 8%

"

He's not donating it's just we don't have to buy his 8% at year ten. "

[HSS]

Buddiecat or anyone in the SMISA know......

I was talking to a Lady last night who was asking if she could make a donation in memory of her late Husband.She is not interested in being on-board for 10 years but would like to honour her Husbands love of the Club with a one off payment.

What's the thoughts on that?

[gazmc83]

Buddiecat or anyone in the SMISA know......

I was talking to a Lady last night who was asking if she could make a donation in memory of her late Husband.She is not interested in being on-board for 10 years but would like to honour her Husbands love of the Club with a one off payment.

What's the thoughts on that?

In sure that shouldn't be an issue , try emailing SMISA I just emailed and Barry replied within minutes ..

[email protected]

[Murray7]

Have the opportunity to ask Gordon questions over the next couple of days. Happy to ask anything from anyone on here although I'm still getting the basics myself.

What exactly does the £12 a month eventually amount to? The £10 for shares and £2 p/m into 'the pot'?

How does the 'one member one vote' work and what kinds of things will they be voting on if Gordon has the majority shareholding?

What happens if people cancel their direct debits over the 10 year period? Will the deal take place as soon as the target to commit is reached?

Will we be self sufficient in 10 years time if we achieve the target to buy the club?

Does Gordon stay on the board when it goes through and he's repaid?

[Callum Gilhooley]

To those who are asking "what happens if people cancel direct debits" yes , it is very possible that peoples circumstances may change which means they no longer want / cannot afford/ Die !! etc

But lets not forget , there will be many more people over the next 10 years & beyond whos circumstances change for the better & will join up

Youngsters getting into work

People who are no longer "bank of mum & dad " & have some spare cash.

New supporters ..... yes , it does happen !

Lets get behind this, talk with your relatives , friends & colleagues who havent signed up yet for whatever reason .

Encourage them to ask questions www.smisa.net/contact the information is there for all to see & hear.

[Lord Pityme]

Not disagreeing but with a hard core support of 2,500 and 1500 season ticket holders these are the people more likely to sign up than my neighbour and should be the target for the sales pitch.

Personally I would have expected more at this stage. 430 signed up after the initial launch and only 4 weeks to get another 570. A lot of hard work is still required.

Home comes your granny isnae/wisnae a saints fan?

I Always remember my wee Grannies last words "for f**ks sake pass me Scarf, tie and ma bonnet with f**k the morton on it"

We need to target anyone that will sign up, their will be a bigger community iniatitive as part of this bid, rightly so. So It stands to reason you want the community completely involved. If your neighbour aint a saints fan, make him move.

Edited April 27, 2016 by Lord Pityme

[Murray7]

Is this how it works?

£10 a month for 1000 people = £10000

£10000 over 10 years = £1m (which will be paid back to Gordon Scott for the majority shareholding)

Then we have the £2 a month kitty for the future amounting to £240k in 10 years time.

With SMISA taking out the loan to cover the cost of the 28% shareholding, £380000, how will that be repaid? Is this also taken out of the direct debits?

[gazmc83]

Is this how it works?

£10 a month for 1000 people = £10000

£10000 over 10 years = £1m (which will be paid back to Gordon Scott for the majority shareholding)

Then we have the £2 a month kitty for the future amounting to £240k in 10 years time.

With SMISA taking out the loan to cover the cost of the 28% shareholding, £380000, how will that be repaid? Is this also taken out of the direct debits?

The 380k loan will be the first thing to be paid off (that's the £10 p/m) after that's paid off we can start looking at buying Gordon out , more people we get to sign up the quicker that can get paid off

[buddiecat]

Buddiecat or anyone in the SMISA know......

I was talking to a Lady last night who was asking if she could make a donation in memory of her late Husband.She is not interested in being on-board for 10 years but would like to honour her Husbands love of the Club with a one off payment.

What's the thoughts on that?

After we take control for this and any other donations, we need to show the 1000 member sign ups to get the bid accepted, the generous lady can send a cheque to SMiSA anytime (we will not refuse any kind donation) but to have it as paying towards the fans taking over it's best kept until then, wouldn't want her thinking we took the money and didn't buy the club with it.

[Drew]

On course for 500 by Friday?

Two weeks in, that was where I suspected we'd be sitting. Obviously, there was the hope that it might be higher, but all things considered, it would be a decent return.

Come on folks, nearly there, let's do this!

[glenburn ed]

Who is putting up the £ 300, 000 odd thousand

[div]

Is this how it works?

£10 a month for 1000 people = £10000

£10000 over 10 years = £1m (which will be paid back to Gordon Scott for the majority shareholding)

Then we have the £2 a month kitty for the future amounting to £240k in 10 years time.

With SMISA taking out the loan to cover the cost of the 28% shareholding, £380000, how will that be repaid? Is this also taken out of the direct debits?

£12 a month from 1000 fans is £12K per month, £144K per annum.

£10 a month of that goes to debt repayment, £120K per annum

£2 a month goes to the SMiSA contingency pot, £24K per annum

The £120K per annum goes towards paying off the £360K that is being borrowed. Give or take some interest charges that will be paid off in approximately 3 years.

After that, the money is then being saved up to pay off the £600K that Gordon will need for his 50.1% shareholding in year 10.

At £120K per annum that would take a further 5 years.

Obviously not quite as cut and dried as that but that's the basic equation.

If we have 1000 fans that are willing to invest £12 month in SMiSA even after all the debt has been cleared then imagine what could be acheived after the club has been bought. We would have £12K income every month to invest back into the football club as we saw fit.

[notabuddie]

Nearly 500 sounds good but when you consider SMISA started off with 200 members that is only 300 outside the organisation that has signed up so far.

If I sign up does that mean I get treated like a shareholder? Ie do I get invited to the AGM and get a copy of the clubs accounts?

If you are automatically treated as a shareholder then that's an immediate benefit for any current non share holders

A member of SMISA on the board how much of a confidentiality clause will be put in place?

How do you stop other fans from other teams signing up to gain access to St Mirren information? I was told that this had already been attempted through the fans council but was stopped.

Interested to hear the thoughts on the above.

Just to add this is the most interesting thread I've found on this forum

[linwood buddie]

Nearly 500 sounds good but when you consider SMISA started off with 200 members that is only 300 outside the organisation that has signed up so far.

If I sign up does that mean I get treated like a shareholder? Ie do I get invited to the AGM and get a copy of the clubs accounts?

If you are automatically treated as a shareholder then that's an immediate benefit for any current non share holders

A member of SMISA on the board how much of a confidentiality clause will be put in place?

How do you stop other fans from other teams signing up to gain access to St Mirren information? I was told that this had already been attempted through the fans council but was stopped.

Interested to hear the thoughts on the above.

Just to add this is the most interesting thread I've found on this forum

The Weather Report thread is quite good ,its always changing.