jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 3 hours ago, Kemp said: 3 hours ago, ALBIONSAINT said: So far. The principal goal was to ensure stability even in the result of a change of manager. In this respect it has been a complete failure. I'm not sure what some people are failing to grasp here. We are out the League Cup already (a very important tournament for us financially), have been humiliated by non league opposition and we are holding training sessions 1 week before the start of the season with half the team missing. There is no "so far", it has failed. Even if Popescu, Isma, McAllister and Stevie May were all to sign this week it doesn't change the fact that having a DoF has not helped at all in preparation for this season. Let me just say, looking at the non stop stream of nonsense coming from our Chairman and directors, I do not blame Gus MacPherson at all for the situation. Just get a fresh Pampers and cross your legs. 😃 Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 3 hours ago, faraway saint said: 3 hours ago, ALBIONSAINT said: So far. You say that as if it doesn't matter? You do know we're out of the league cup, so far? DFTSTBO. JUST IN CASE NO ONE KNOWS Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 2 hours ago, buddiecat said: 2 hours ago, East Lothian Saint said: I think that's a good question. I can't speak for other SMISA members but I imagine most saw SMISA as a last chance saloon and were happy to commit some funds to stop the club disappearing into oblivion. The burden of running the club wasn't something they signed up for. As illustrated many aren't interested in or able to turn up for meetings. Many of them will have no real interest in "The community" vision of SMISA and were only interested in saving the Club. Your average SMISA member has no idea what the plan is when the buy out is complete. At present your average SMISA member will have nothing to show for their donations, not investments and SMISA will have no more SMISA funds as soon as the buy out is complete as Members have not yet been asked to contribute beyond that date. With no subscriptions to pay, are they still members? Who will elect the board? Who will be in office? Let's take a wild guess here and predict GLS will still be at the wheel. GLS will have no shares left at all, so would have to be elected as chairman by SMiSA members, so possibly him, but i know at least one of the other current club board members has an ambition to be chairman. NOT LPM Pleaseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee ?😎 😎 😎 😛 😛 😛 Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 1 hour ago, beyond our ken said: SMFC will only prosper when a group of well motivated and capable business people who have the club at heart can pool their own resources and work with a SMISA that is more like the original conept of that group. That................. is the most sensible sentence posted on here in a good while.. Apart from Shull of course ZZZZZZZZZZZZZZZZZZZZZ Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 27, 2019 Report Share Posted July 27, 2019 FFS, bevvied. 🙈 Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 47 minutes ago, East Lothian Saint said: 2 hours ago, buddiecat said: GLS will have no shares left at all, so would have to be elected as chairman by SMiSA members, so possibly him, but i know at least one of the other current club board members has an ambition to be chairman. 1 hour ago, waldorf34 said: When they buy out GLS they can appoint a fully qualified and experienced CEO to run the club,move Tony to Director of Football and bin Gus. They will have over 80%of shares so can sell some to raise some capital. Smisa should continue with a smaller monthly payment with members given a choice from the CEO where their priorities lay for their contributions. As a SMISA member I have been given no indication that there is any further requirement for my cash after the buy out. On that basis I don't think they envisage any role for the ordinary SMISA benefactor after this date. They will just be 'Joe Soap' St Mirren fans like everyone else. Who will SMISA be, after the buy out??? I don't think there is any suggestion that any of the ordinary SMISA contributors will get any say in anything. A Board will still run the Club. Not sure who will elect them if no one is contributing to the funds or will we all just be honorary life members of SMISA. I don't think so. Then again I couldn't see Club being run by committee, I Don't think that would work. I suspect the final result will definitely involve smoke and mirrors. I really do love the ethos behind BtB and admire those who worked hard to put it all together, my one worry is that which is highlighted, good to know others have concerns too. COYS 😎 Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 Just now, faraway saint said: FFS, bevvied. 🙈 Listen little man, some people have a life to live and don't sit at the computer all day like those who come up with comments like the above and NOT TO FORGET your trademark ffs. I sit down when I can and type what I think, if you don't like then don't read it, this is of course assuming you can and someone is not doing it for you? 😃 Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 27, 2019 Report Share Posted July 27, 2019 12 minutes ago, jaybee said: Listen little man, some people have a life to live and don't sit at the computer all day like those who come up with comments like the above and NOT TO FORGET your trademark ffs. I sit down when I can and type what I think, if you don't like then don't read it, this is of course assuming you can and someone is not doing it for you? 😃 Oh dear, there's a new invention, like a telephone but can be used to go online when, wait for it, outdoors. Are you related to PRicky wee man? Oh..........Not. 🤡 Quote Link to comment Share on other sites More sharing options...
Kombibuddie Posted July 27, 2019 Report Share Posted July 27, 2019 I believe I read that SMISA are not buying his entire shareholding. [emoji106]From what I recall, the "legally binding contract to purchase the majority shareholding within 10 years from GLS"Would be to buy at least 51% of what shares GLS owns.It'll be some rip off if SMISA ends up paying £600k or whatever it is & ends up getting an additional 21% or so on top of the 30% they currently own.Hmmmmmmmm Quote Link to comment Share on other sites More sharing options...
Wendy Saintss Posted July 27, 2019 Report Share Posted July 27, 2019 Is that you? It’s faraway’s wife Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 27, 2019 Report Share Posted July 27, 2019 (edited) 7 minutes ago, Wendy Saintss said: It’s faraway’s wife How's that big old bed doing when you're all alone? PS Keep on chuggin. Edited July 27, 2019 by faraway saint Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted July 27, 2019 Report Share Posted July 27, 2019 35 minutes ago, cockles1987 said: I believe I read that SMISA are not buying his entire shareholding. Yes they are Quote Link to comment Share on other sites More sharing options...
slapsalmon Posted July 27, 2019 Report Share Posted July 27, 2019 23 minutes ago, Kombibuddie said: From what I recall, the "legally binding contract to purchase the majority shareholding within 10 years from GLS" Would be to buy at least 51% of what shares GLS owns. It'll be some rip off if SMISA ends up paying £600k or whatever it is & ends up getting an additional 21% or so on top of the 30% they currently own. Hmmmmmmmm I believe he is keeping his original 8%. I commented at the time I thought it was poor. I think it keeps SMiSA below 75% which is needed to make any major changes. Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted July 27, 2019 Report Share Posted July 27, 2019 24 minutes ago, Kombibuddie said: From what I recall, the "legally binding contract to purchase the majority shareholding within 10 years from GLS" Would be to buy at least 51% of what shares GLS owns. It'll be some rip off if SMISA ends up paying £600k or whatever it is & ends up getting an additional 21% or so on top of the 30% they currently own. Hmmmmmmmm The agreement says they will purchase his shares as and when they have the funds,no 10 year mentioned in agreement ,just came up when Smisa thought how long it would take. GLS suggested the partnership agreement to save the shares that Smisa do not need. If he did not get this and Smisa had the money upfront to get to 51% ,his shares would have been worthless. Just protecting his interests, he is not puting a penny into the business. Quote Link to comment Share on other sites More sharing options...
St.Ricky Posted July 27, 2019 Report Share Posted July 27, 2019 3 minutes ago, slapsalmon said: I believe he is keeping his original 8%. I commented at the time I thought it was poor. I think it keeps SMiSA below 75% which is needed to make any major changes. Buying without getting the 75% is to me a waste of time and money. Having your cake and eating it comes to mind. It's almost like having a golden share. Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted July 27, 2019 Report Share Posted July 27, 2019 13 minutes ago, slapsalmon said: I believe he is keeping his original 8%. I commented at the time I thought it was poor. I think it keeps SMiSA below 75% which is needed to make any major changes. Incorrect Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted July 27, 2019 Report Share Posted July 27, 2019 16 minutes ago, waldorf34 said: Yes they are It's a bit ambiguous - I refer you to this page on the SMiSA site. https://www.smisa.net/buythebuds/faq Quote And in a sense, this is costing him - he sold property that was making him a significant return to invest in something he will make no profit from. It is also worth pointing out our agreement to buy Gordon’s shares does not include the 8% he owned before summer 2016 – we are only bound to buy the 42% he bought as part of this deal. Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 1 hour ago, faraway saint said: Oh dear, there's a new invention, like a telephone but can be used to go online when, wait for it, outdoors. Are you related to PRicky wee man? Oh..........Not. 🤡 Apologies my little man I forgot you probably have one fitted in your pram, just be sure you don't dribble over it or it might not work.................. a little like your sense of decorum. Have a really nice day 😎 Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 21 minutes ago, slapsalmon said: 46 minutes ago, Kombibuddie said: From what I recall, the "legally binding contract to purchase the majority shareholding within 10 years from GLS" Would be to buy at least 51% of what shares GLS owns. It'll be some rip off if SMISA ends up paying £600k or whatever it is & ends up getting an additional 21% or so on top of the 30% they currently own. Hmmmmmmmm I believe he is keeping his original 8%. I commented at the time I thought it was poor. I think it keeps SMiSA below 75% which is needed to make any major changes. would you not think that's protecting the club. ........................................ surely? Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted July 27, 2019 Report Share Posted July 27, 2019 Fan ownership.... Spoiler ….and the fan is Gordon Scott! Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 7 minutes ago, Bud the Baker said: 25 minutes ago, waldorf34 said: Yes they are It's a bit ambiguous - I refer you to this page on the SMiSA site. https://www.smisa.net/buythebuds/faq Quote And in a sense, this is costing him - he sold property that was making him a significant return to invest in something he will make no profit from. It is also worth pointing out our agreement to buy Gordon’s shares does not include the 8% he owned before summer 2016 – we are only bound to buy the 42% he bought as part of this deal. Nice to see some honesty and attribution regarding what GLS has lost in order to support the club, well done you sir. Quote Link to comment Share on other sites More sharing options...
jaybee Posted July 27, 2019 Report Share Posted July 27, 2019 1 hour ago, faraway saint said: FFS, bevvied. 🙈 Shut it wee man and go suck on yer dummy 😎 Quote Link to comment Share on other sites More sharing options...
gstretchuk Posted July 27, 2019 Report Share Posted July 27, 2019 1 minute ago, jaybee said: Shut it wee man and go suck on yer dummy 😎 Yer wifes dummy? Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted July 27, 2019 Report Share Posted July 27, 2019 1 minute ago, jaybee said: Nice to see some honesty and attribution regarding what GLS has lost in order to support the club, well done you sir. To run the club - like I said "Fan Ownership" and for 10 years he gets to be the Fan. Sure it comes at a price but he made the choice. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted July 27, 2019 Report Share Posted July 27, 2019 PS - Are SMiSA buying GLSs shares? Quote Link to comment Share on other sites More sharing options...
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