Kibble/SMiSA Partnership Proposal (Merged)

[portmahomack saint]

1 minute ago, lovestlegend said:

 

They are buying Gordon’s remaining 28% or so. Which in your scenario would only take them to 30%.

 

No were buying Gordon's 50%

[lovestlegend]

No were buying Gordon's 50%

Ok I see. But SMISA would lose any influence in that time if they only held 2%. No directors on the board. No 3-way sharing of power in the interim phase.

[portmahomack saint]

Just now, lovestlegend said:

 

Ok I see. But SMISA would lose any influence in that time if they only held 2%. No directors on the board. No 3-way sharing of power in the interim phase.

 

Would be all part of the deal buddie,  Trust is the name of the game here,   SMISA influence would stay the same why would it need to change its is our club or at least it will be

[waldorf34]

48 minutes ago, TPAFKATS said:

 

 

We've been given 1 example that amounts to 500 quid a week.

 

And are the Kibble kids going to be paid the living wage?

[FTOF]

Thanks to the posters who have been posting incessantly about the matter.

You've helped me to make my decision.

[alanb]

If this deal is the bees knees and all 3 parties involved are hugging and kissing,  why doesn't SMISA sell the 27% to the KIbble from their stake holding they have now ? and carry on as normal,  we would have the cash according to SMISA to buy Gordon's shares in 2023 they said,  3 years earlier than planned,

Come 2023 we would have 300k+ in the piggy bank staying with the club,  That's a nice little wedge that's walking out the door, 

Is it not the case that however you shape the deal, all money paid for GLS shareholding goes to GLS and not the club.

GLS currently selling 42% to SMISA no later than 2026 but could be done  by 2023 but no cash reserve

New deal GLS selling now 50% (keeping 0.05% for old times sake) split between Kibble and SMISA where SMSIA also has money left over in bank (Start of rainy day fund).

 

 

Nothing to stop Kibble buying GLS extra 8% now though with current deal unchanged

Allowing GLS to shed all his shares as now seems to be his desire

[whydowebother]

Voting link now open!

Who will be independently verifying the result which lands on their very own desk ?

[portmahomack saint]

1 hour ago, alanb said:

Is it not the case that however you shape the deal, all money paid for GLS shareholding goes to GLS and not the club.

GLS currently selling 42% to SMISA no later than 2026 but could be done  by 2023 but no cash reserve

New deal GLS selling now 50% (keeping 0.05% for old times sake) split between Kibble and SMISA where SMSIA also has money left over in bank (Start of rainy day fund).

 

 

Nothing to stop Kibble buying GLS extra 8% now though with current deal unchanged

Allowing GLS to shed all his shares as now seems to be his desire

No its not SMISA are buying Gordon's shares in 2021 in this deal with no cash in reserve,  There is also the possibility membership could fall after the deal is concluded,  better the bird in the hand than 2 in the bush,,  Plus what about the Asteroid hitting GHR in 2022 don't forget that scenario 

[smcc]

10 minutes ago, portmahomack saint said:

No its not SMISA are buying Gordon's shares in 2021 in this deal with no cash in reserve,  There is also the possibility membership could fall after the deal is concluded,  better the bird in the hand than 2 in the bush,,  Plus what about the Asteroid hitting GHR in 2022 don't forget that scenario 

"SMISA would only need £331,000 to buy Gordon’s remaining shares and get to 51%. We expect to have that, and a cash reserve, by the second half of next year, which is why we can be majority owners of SMFC by the end of 2021. These figures have been calculated on the basis of us maintaining membership numbers, so we need your continued support."

This extract from the Kibble Q&A on the SMISA website seems to suggest that ther will be a cash reserve.

[alanb]

31 minutes ago, portmahomack saint said:

No its not SMISA are buying Gordon's shares in 2021 in this deal with no cash in reserve,  There is also the possibility membership could fall after the deal is concluded,  better the bird in the hand than 2 in the bush,,  Plus what about the Asteroid hitting GHR in 2022 don't forget that scenario 

You suggested SMISA sell the Kibble 27% then carry on as normal and buy shares from GLS 

Currently SMISA have 28.3% so would be left with 1.3%, so later adding 50% totals 51.3% (0.3% gain on proposal)

If you prefer eventually the status quo of gaining 71% as some do and no Kibble involvement 

cant see the point of your proposed version of deal makes a difference but retaining original timeline for less shares.

So Plan A or Plan B 

[portmahomack saint]

3 hours ago, alanb said:

You suggested SMISA sell the Kibble 27% then carry on as normal and buy shares from GLS 

Currently SMISA have 28.3% so would be left with 1.3%, so later adding 50% totals 51.3% (0.3% gain on proposal)

If you prefer eventually the status quo of gaining 71% as some do and no Kibble involvement 

cant see the point of your proposed version of deal makes a difference but retaining original timeline for less shares.

So Plan A or Plan B 

You don't see any point or difference ?  300k into the SMISA bank account next month... really 

[alanb]

1 minute ago, portmahomack saint said:

You don't see any point or difference ?  300k into the SMISA bank account next month... really 

Wont have it for very long though when buying shares from GLS

[Lord Pityme]

Why aren't smisa didn't smisa come to the membership early doors and ask if the membership wanted to buy this 27.5% now, instead of the club being broken up with an outside body set to run the show?

[Lord Pityme]

I was told by a source close to the committee that it was done to annoy you. Don’t shoot the messenger.

If so they've overshot their target. Its annoyed more than 50% of those voting on it!
Did you pick up on the PANIC addition of Goody being dragged into on Thursday night?
They know their on a hiding to nothing.
Maybe that annoys you? Lol

[Tommy]

3 minutes ago, Lord Pityme said:

If so they've overshot their target. Its annoyed more than 50% of those voting on it!
Did you pick up on the PANIC addition of Goody being dragged into on Thursday night?
They know their on a hiding to nothing.
Maybe that annoys you? Lol

I think bringing Tony along to waffle about the corners being filled in with 12000 seats being full of saints supporters was more funny.

Guessing he must have been in Harrys bar prior to the meeting   

[Lord Pityme]

I think bringing Tony along to waffle about the corners being filled in with 12000 seats being full of saints supporters was more funny.
Guessing he must have been in Harrys bar prior to the meeting   

That reminds me of when there was talk of rebuilding the stadium at Seedhill, and some worrying that a 20,000 capacity stadium would be too wee.

[hamlet]

2 hours ago, Lord Pityme said:

If so they've overshot their target. Its annoyed more than 50% of those voting on it!
Did you pick up on the PANIC addition of Goody being dragged into on Thursday night?
They know their on a hiding to nothing.
Maybe that annoys you? Lol

I also would be questioning the reason for Goody to be at the top table. If he contributes to SMISA he 

should only have been in the body of the hall.

At the AGM the same mistake is made with the current Manager at the top table from the beginning of the meeting.

He should only, as was done in the past, be invited when the business end has been completed.

He is only an employee of the Company just like e.g. The Groundsman.

If sure he had more things to worry about on Thursday night after the dreadful team selection the night before.

[proudtobeabuddy]

I'm all for Kibble's involvement and i think it will be voted through. I watched the video on you tube and was encouraged by what i heard.

[BuddieinEK]

I think bringing Tony along to waffle about the corners being filled in with 12000 seats being full of saints supporters was more funny.
Guessing he must have been in Harrys bar prior to the meeting   

The same lovable laddy that envisioned our stadium full of home fans before endorsing giving a huge chunk of it to the OF without actually TRYING to make the vision a reality?

Fergie would have been furious at him for that!

[portmahomack saint]

1 hour ago, proudtobeabuddy said:

I'm all for Kibble's involvement and i think it will be voted through. I watched the video on you tube and was encouraged by what i heard.

So am I

But I don't see why we need to be selling off 27% of the the club to have it,  Why can't the board arrange this partnership with the Kibble without selling this shareholding,

Kibble said at the meeting a partnership can easily be broken, That's true when the interest of both parties clash, And that is the problem in this deal is, 

For instance what if a Business like say BET365 with a turnover of 2.86 billion wanted to have their names on our shirts, and advertising all over the stadium, Representing their company a fan owed football club in Scotland etc etc ( and why wouldn't they I give them plenty every year) the kibble could scupper the deal if it went against their morals and beliefs, Some charities won't even accept lottery funding because they see it as gambling and immoral,  This is just one example where we could have a disagreement,  Our hands will tied in this deal, We could lose out on some serious sponsorship,   

I don't think the Kibble should have a major say in the direction the football club should or shouldn't take, No one knows what's around the corner, Major decisions should be left to the people that matter most,  And ST MIRREN FC  should always come first 

 

[Lord Pityme]

That's the biggie. With kibble saying thet MIGHT gift the shares later on.... why buy them

[whydowebother]

Knowing as much as we do now, this is still a terrible idea.

In principle, sounds ‘pretty’ but the future for St Mirren with outside involvement would be really uncertain in many ways.

Could even feel like it’s no longer our infrastructure, we are mere tenants

Our 3 votes are NO

Hell of a lot of pre-planning went into this without so much as a murmur if we’d like them to explore the idea.

Not good.

[Buddymarvellous]

Confucius says ....

You only find out there’s a cuckoo in your nest when the chickens come home to roost

[ford prefect]

Confucius says ....
You only find out there’s a cuckoo in your nest when the chickens come home to roost

Are those conspirators that you spy through your window or is it a mirror reflecting the chattering parasites in your mind?

[Buddymarvellous]

1 minute ago, ford prefect said:

7 minutes ago, Buddymarvellous said:

Confucius says ....
You only find out there’s a cuckoo in your nest when the chickens come home to roost

Are those conspirators that you spy through your window or is it a mirror reflecting the chattering parasites in your mind?

Just a bit of fun .. no need to get worked up.....