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Yflab

St Mirren FC Ltd AGM 2020

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15 hours ago, Slash said:

19. Question on Flu Clinic revenue - good sum of money, but won’t disclose. Club offered stadium for COVID-19 vaccine, but decision to be made by Health Board

 

Mass covid vaccination centres revealed as thousands set to receive appointments - https://bit.ly/365pyof

 

Edited by pod

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On 12/23/2020 at 9:59 AM, Yflab said:

I wrote to one of the SMiSA reps on the BoD. He gave me a prompt and detailed response to the questions I posed.

Expect to hear some information soon about the annual accounts and AGM through official channels.

Thanks for responding to my PM flabby man! :)

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23 hours ago, Slash said:

 

 

Some rough notes I composed between songs tonight.

111 participants. Meeting recorded for other shareholders.

GLS opened the meeting.

Discussed questions relating to the accounts.

1. Police Scotland - St Mirren approached the Police to seek advice on an internal matter. PS spoke to previous BoD for history. Matter deemed closed. No further details due to confidentiality.

2. Investment in accounts re £250,000 - money was doing nothing in bank at the time due to low interest rate. . Was invested through Alan Wardrop. Lost money during market crash. Currently sits at £254,000 

3. SMTV attendance - ST range from 1,800 to 3,000 ;  PPV from 300 to 8000 match dependent 

4. Financial Health - Tough times. Club looking to keep loss this season to a minimum. Runs in Cups key. 

5. Fill in Corners - Not at this point in time

6. HMRC - processes and systems improved. No feedback to press issued as statement said what was required. Case closed

7. GLS Club Updates - GLS reduced input in running club as a result of help from Kibble. The club have been issuing short and regular updates instead.

8. Club Shop ref. concern about Kibble taking over - all avenues being looked at for future revenue.

9. Question about Kibble involvement - Fitzy was keen to close this issue down. We are seen as one organisation now. Kibble have brought the following benefits to the club:

- Graphic Design and Signage - I believe a new sign announcing SMISA Stadium has gone up

- Marketing improvements - One Town - One Team; Be in that number around town

-  IT Support

- Training Centre and Stadium Maintenance and Refurbishment 

- All catering for staff and players

- Matchday Hospitality 

- HR

- Multiple Sponsorships in addition to shareholding

- No threat to existing staff

 10. Question on Off Field revenue - Jim Gillespie spoke about the club’s ambition to be the top 6 commercial football club in Scotland. We aim to have the best Youth Academy. At present the priority is working through a COVID-19 strategy to ensure that we still have a club. Plan is to augment staffing moving forward and sweat the stadium assets especially on non-match days.

 11. Question ref Goalkeeper & COVID - St Mirren were given 24hours to resolve the situation and they had to get a player that had been tested.

 12. Kyle Magennis - offered a contract to become highest player in squad. Once Jack Ross took over at Hibs, KM requested a move. KM felt it was a life changing move. Club felt they could not stand in his way.

 13. Government Loans - Not required this season - cash flow strong. However it would be foolish not to investigate the process as we don’t know what the future holds.

14. Question on Kibble benefits - great resources and professionalism including a dedicated General Manager. Jim Gillespie’s friendship with Billy Bowie helped with the Brophy deal.

15. Scouting system - Jim Goodwin uses contacts, scouts and tools that SPFL provide plus the investment St Mirren have made. As a result of Brexit it has become a very challenging market. Points basis introduced for European market based on a large number of factors. Richer clubs won’t have same issues as they operate in a different market. No issue regarding RoI according to JG.

16. International Subscribers vs UK Season Ticket holders - as it stands international subscribers get to see all games - home and away for £150. Pricing needs to be looked at.

17. SMTV Matchday Sponsor - Club will look at ways to improve SMTV revenue

18. Question on Stadium Use as Car Boot venue on non Matchday weekends - will be looked at.

19. Question on Flu Clinic revenue - good sum of money, but won’t disclose. Club offered stadium for COVID-19 vaccine, but decision to be made by Health Board

========= MINUTES AND FINANCIAL PART APPROVED  ======

Questions on Playing Side

1. Dressing Rooms & COVID - we have two of the largest in Scottish football so no issue regarding protocols.

2. Academy Update - some players have left as club felt they would not make first team. Club always looks to provide a pathway for those who leave. Academy games restricted due to COVID, but unlike some clubs (Hibs) St Mirren have kept the Academy going throughout the pandemic. Club have put some players out on load to gain experience, but there is limited football being played. High hopes for a number of players including Lewis Jamieson (Striker), Kieran Offord (Striker) and Dylan Reid. It is hoped that Dylan when he turns 16 this season will make his 1st team debut if all goes well.

3. Kevin Nisbett - Club made an offer to Dunfermline but were priced out by HIbs on fee and wages

4. Usual questions on Set Pieces - lots of work on training ground. Jim Goodwin said that the stats show that we produce enough chances in a game, however we lacked a 15-20 goalscorer - hence the reason we brought in Brophy.

5. Injury Update provided. No details to save the press and opposition from knowing.

 6. Transfer Activity - we are always looking at improving the squad. Cards close to chest for obvious reasons.

 Jim Goodwin finished up by saying this situation has been difficult for everyone at the club as a result of the protocols. He and the players are missing the fans - especially at the cup games against Aberdeen and The Rangers - as they would have liked to have enjoyed the success with the fans. JG sees progress on and off the pitch however. He believes the quality of the squad he has now to what he inherited is like night and day. Jim congratulates the Board on not cutting the wages of the players and staff unlike many other clubs. This has kept morale high and should not be underestimated. Jim says we have only lost 3 of the last 17 and we are 4 points better off than last season, but wants to make improvements. He has received excellent support from General Manager and new directors from Kibble.

 End of meeting.

  •  
  •  

Do I read that correctly that the club has £250k invested in financial markets? 

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10 minutes ago, Maboza said:

Do I read that correctly that the club has £250k invested in financial markets? 

Yeah, some of which might be needed as Slash points out

Quote

4. Financial Health - Tough times. Club looking to keep loss this season to a minimum. Runs in Cups key. 

This year is the proverbial rainy day.

 

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35 minutes ago, Bud the Baker said:

Yeah, some of which might be needed as Slash points out

This year is the proverbial rainy day.

 

Cheers. 

Not sure I’m overly comfortable with a football club investing in such a way. 

Edited by Maboza

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If a reasonable sum of money was sitting there, inert, doing nothing... then the sensible thing would be to invest it so that it’s working, earning its keep, not being eroded.

you might argue that it could be invested in new funds and non-UK countries but any FD worth his salt would not take that risk.  Small safe investments close to home...

Sadly...  home is currently a land run by a Buffoon who has led the country out of the safe port of Europe, into stormy Covid seas without a compass, map or any idea where a safe landing might be found.

most investments of that kind are up shit creek.

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7 hours ago, antrin said:

If a reasonable sum of money was sitting there, inert, doing nothing... then the sensible thing would be to invest it so that it’s working, earning its keep, not being eroded.

you might argue that it could be invested in new funds and non-UK countries but any FD worth his salt would not take that risk.  Small safe investments close to home...

Sadly...  home is currently a land run by a Buffoon who has led the country out of the safe port of Europe, into stormy Covid seas without a compass, map or any idea where a safe landing might be found.

most investments of that kind are up shit creek.

^^^^^^ Clueless. 

I would suggest things in the investment world have done ok after the slump last March.

I'm sure the people that run the club have a wee bit more sense than you. 

image.png.4f843d816a2f09214ae8e7668ae56e7c.png

 

 

 

Edited by faraway saint

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4 hours ago, faraway saint said:

^^^^^^ Clueless. 

I would suggest things in the investment world have done ok after the slump last March.

I'm sure the people that run the club have a wee bit more sense than you. 

image.png.4f843d816a2f09214ae8e7668ae56e7c.png

 

 

 

I can only speak from the perspective of my personal pensions pots and limited views of isa’s - but as you say there was a huge slump last year which has now rebounded for a lot of the market. 
 

Given your graph shows the FTSE dropping by approx. 40%  ... can that really be a good way for our club to invest money? What if we needed access to our rainy day fund during such a drop?

 

I get that we’re trying to counter erosion of the cash through inflation but I’m just not comfortable with this approach. 
 

Appreciate that they may have it sitting in something at the safer end of the spectrum (like bonds) but the fact that the AGM statement hints that we’ve recovered to a current position of £4k profit on the £250k doesn’t tell a great story to me. 
 

Added to that... considering we are moving to fan ownership, etc. - who made the decision to invest in markets? was it voted on? what alternatives options were there to invest in club/staff/infrastructure to try and bring about a longer term ROI?  

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39 minutes ago, Maboza said:

I can only speak from the perspective of my personal pensions pots and limited views of isa’s - but as you say there was a huge slump last year which has now rebounded for a lot of the market. 
 

Given your graph shows the FTSE dropping by approx. 40%  ... can that really be a good way for our club to invest money? What if we needed access to our rainy day fund during such a drop?

 

I get that we’re trying to counter erosion of the cash through inflation but I’m just not comfortable with this approach. 
 

Appreciate that they may have it sitting in something at the safer end of the spectrum (like bonds) but the fact that the AGM statement hints that we’ve recovered to a current position of £4k profit on the £250k doesn’t tell a great story to me. 
 

Added to that... considering we are moving to fan ownership, etc. - who made the decision to invest in markets? was it voted on? what alternatives options were there to invest in club/staff/infrastructure to try and bring about a longer term ROI?  

I agree.

You understand what was trying to be achieved, whereas the clodhopper that you quoted didn’t understand my post at all.

I could have uselessly quoted the overseas investment markets that, from personal experience I KNOW have made amazing gains, such as Nasdaq and the S+P 500 ...  that might have earned the club a lot of money.

I didn’t quote those markets, just used the word home, which meant the uk market eg (for the thick east-coaster) FTSE, which has not earned at all.

Clodhopper quoted the FTSE and simply proved my point! :lol:

We both understood that Nasdaq, S+P, FTSE might have been too risky for a fitba club, which might need swift access to its funds, but he tried to correct me and failed as always, to appear smarter than I am.  He’s a dunce.

He thrives by posting things that he hopes I won’t see and so won’t correct him on.

He’s the sort of financial guru who does his best investments with a bookie... which I would also not recommend for St Mirren’s FD.  :)

Edited by antrin

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11 minutes ago, antrin said:

I agree.

You understand what was trying to be achieved, whereas the clodhopper that you quoted didn’t understand my post at all.

I could have have uselessly quoted the overseas investment markets that, from personal experience I KNOW have made amazing gains, such as Nasdaq and the S+P 500 ...  that might have earned the club a lot of money.

I didn’t quote those markets, just used the word home, which meant the uk market eg (for the thick east-coaster) FTSE, which has not earned at all.

We both understood that Nasdaq, S+P, FTSE might have been too risky for a fitba club, which might need swift access to its funds, but he tried to correct me and failed as always, to appear smarter than I am.  He’s a dunce.

He thrives by posting things that he hopes I won’t see and so won’t correct him on.

He’s the sort of financial guru who does his best investments with a bookie... which I would also not recommend for St Mirren’s FD.  :)

In fairness we don’t know exactly what they invested in.

There are plenty of managed fund type investments which usually offer steady if unspectacular yields and more importantly in the context of what we’re talking about, offer pretty much instant access to the funds. 
No one could’ve predicted COVID. 
Assuming they have invested in a fairly vanilla investment product, I’d have backed their decision to do so at the time. 

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11 minutes ago, TPAFKA Jersey 2 said:

In fairness we don’t know exactly what they invested in.

There are plenty of managed fund type investments which usually offer steady if unspectacular yields and more importantly in the context of what we’re talking about, offer pretty much instant access to the funds. 
No one could’ve predicted COVID. 
Assuming they have invested in a fairly vanilla investment product, I’d have backed their decision to do so at the time. 

I agree.  :)

investing it somewhere would be a wise move... might not pay off... but simply leaving dosh to sit in a pillowcase in a cupboard is not so wise.

 

ETA:

should have bought Tesla stock last year...

Could have hired Jamie Vardy this year...

 

Edited by antrin

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1 hour ago, antrin said:

I agree.

You understand what was trying to be achieved, whereas the clodhopper that you quoted didn’t understand my post at all.

I could have uselessly quoted the overseas investment markets that, from personal experience I KNOW have made amazing gains, such as Nasdaq and the S+P 500 ...  that might have earned the club a lot of money.

I didn’t quote those markets, just used the word home, which meant the uk market eg (for the thick east-coaster) FTSE, which has not earned at all.

Clodhopper quoted the FTSE and simply proved my point! :lol:

We both understood that Nasdaq, S+P, FTSE might have been too risky for a fitba club, which might need swift access to its funds, but he tried to correct me and failed as always, to appear smarter than I am.  He’s a dunce.

He thrives by posting things that he hopes I won’t see and so won’t correct him on.

He’s the sort of financial guru who does his best investments with a bookie... which I would also not recommend for St Mirren’s FD.  :)

Beep beep beep, or in your case, slither slither slither. :lol:

 

1 hour ago, Maboza said:

I can only speak from the perspective of my personal pensions pots and limited views of isa’s - but as you say there was a huge slump last year which has now rebounded for a lot of the market. 
 

Given your graph shows the FTSE dropping by approx. 40%  ... can that really be a good way for our club to invest money? What if we needed access to our rainy day fund during such a drop?

 

I get that we’re trying to counter erosion of the cash through inflation but I’m just not comfortable with this approach. 
 

Appreciate that they may have it sitting in something at the safer end of the spectrum (like bonds) but the fact that the AGM statement hints that we’ve recovered to a current position of £4k profit on the £250k doesn’t tell a great story to me. 
 

Added to that... considering we are moving to fan ownership, etc. - who made the decision to invest in markets? was it voted on? what alternatives options were there to invest in club/staff/infrastructure to try and bring about a longer term ROI?  

Well yes, down 40% from pre lockdown, but recovered pretty damn well.

As @TPAFKA Jersey 2 said, WE, including the senile Londoner, don't know what markets the funds were invested in.

Nobody, surely, thought we were keeping our money in a pillowcase? :lol:

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1 hour ago, faraway saint said:

Beep beep beep, or in your case, slither slither slither. :lol:
 

projecting your arse-wipery onto others is proof you’ve failed again.

 

Well yes, down 40% from pre lockdown, but recovered pretty damn well.

As @TPAFKA Jersey 2 said, WE, including the senile Londoner, don't know what markets the funds were invested in.

Nobody, surely, thought we were keeping our money in a pillowcase? :lol:

Of course no one did, you dunce!  And you just didn’t think at all before diving in with...

More arse-wipery!

 

You should pause before you dive into subjects you know hee-haw about, before letting your fingers do such shiting  through the keyboard.

Edited by antrin

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14 minutes ago, antrin said:

You should pause before you dive into subjects you know hee-haw about, before letting your fingers do such shiting  through the keyboard.

^^^^^^^ Classy as usual.

Your normal when your shown to be an old diddy. :lol:

Edited by faraway saint

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15 minutes ago, faraway saint said:

^^^^^^^ Classy as usual.

Your normal when your shown to be an old diddy. :lol:

To be fair he has a point.

You do have a habit of presenting yourself as an expert in everything and sneering at others opinions.

At least when I do that, I have some experience to call upon.

You though...?

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7 minutes ago, oaksoft said:

To be fair he has a point.

You do have a habit of presenting yourself as an expert in everything and sneering at others opinions.

At least when I do that, I have some experience to call upon.

You though...?

You are setting new records for irony. :wacko:

Tell me when you attended a St Mirren game, and you can prove it. :byebye

 

Edited by faraway saint

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The Dunce hasn’t even realised I’d done him a favour by not referring to the sole reason he butted into this discussion to display his ignorance.

That sole and very silly reason was that he butted in to support his hero, Boris,  The Buffoon and his coterie of inept Yes Ministers. I pointed out how home markets had tanked under his/their guidance and the Dunce fought back with, an aye but, aye but....  the FTSE has ALMOST got back to where it was before the crash.  Almost!  :lol:

 

The market still hasn’t recovered, brexit is still causing chaos, heartache and unemployment whereas other markets are booming; UK still has the biggest death count per 100,000 of nation states and yet The Dunce still supports his ruling cretin masters, mindlessly.  If he was a yank he’d be top tosser in Qanon and proudly awaiting arrest for posting pix of himself in the Capitol.  He’d be the one with a hat that had horns on the inside, pointing inwards...

 And I have noticed that he persists in using ageist language because he find no real fault in my logic and cannot defend his own stupidity. Last refuge of a dunce, that is!

For those unaware, I (as a mature adult) offered to race him any time he wanted as he was such a shambles...er... sorry semblance of a perfect human, but he made excuses and offered up other childish challenges. 
 

He’s sadly weak in mind and body. 

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14 minutes ago, antrin said:

The Dunce hasn’t even realised I’d done him a favour by not referring to the sole reason he butted into this discussion to display his ignorance.

That sole and very silly reason was that he butted in to support his hero, Boris,  The Buffoon and his coterie of inept Yes Ministers. I pointed out how home markets had tanked under his/their guidance and the Dunce fought back with, an aye but, aye but....  the FTSE has ALMOST got back to where it was before the crash.  Almost!  :lol:

 

The market still hasn’t recovered, brexit is still causing chaos, heartache and unemployment whereas other markets are booming; UK still has the biggest death count per 100,000 of nation states and yet The Dunce still supports his ruling cretin masters, mindlessly.  If he was a yank he’d be top tosser in Qanon and proudly awaiting arrest for posting pix of himself in the Capitol.  He’d be the one with a hat that had horns on the inside, pointing inwards...

 And I have noticed that he persists in using ageist language because he find no real fault in my logic and cannot defend his own stupidity. Last refuge of a dunce, that is!

For those unaware, I (as a mature adult) offered to race him any time he wanted as he was such a shambles...er... sorry semblance of a perfect human, but he made excuses and offered up other childish challenges. 
 

He’s sadly weak in mind and body. 

And I politely suggested we have a charity boxing match..then smell of shite was palatable even away up here.:byebye

Coward. 

PS If you want to settle this, PM me, we don't need to mess up the forum with your bitterness. 

Edited by faraway saint

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And I politely suggested we have a charity boxing match..then smell of shite was palatable even away up here.:byebye
Coward. 
PS If you want to settle this, PM me, we don't need to mess up the forum with your bitterness. 
And I offered to take you both on in both events and had no takers.

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44 minutes ago, faraway saint said:

And I politely suggested we have a charity boxing match..then smell of shite was palatable even away up here.:byebye

Coward. 

PS If you want to settle this, PM me, we don't need to mess up the forum with your bitterness. 

Oooh, lies.

I don't box but never backed out of a fight, yet.  I was surprised that you'd even think of being violent towards someone on the forum.  Didn't the moderator already warn you about that?

I am not bitter - you are just a dunce.  :)

 

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