Companies House Update

[div]

Companies House shows that on 19th July the 1877 Society Ltd (that is SMiSA) ceased to be a person with significant control of the club.

Im gonna be honest and say I don’t quite know what that means or why it’s happened or if it even matters but it seems a bit strange that the majority shareholder wouldn’t be deemed to have significant control, no?

Anyone know what this means and why it’s happened now?

 

[slapsalmon]

I always thought it was to do with percentage owned. No idea why they wouldn't be, pretty sure they own more than 25%?

https://www.gov.uk/guidance/people-with-significant-control-pscs

 

[div]

3 minutes ago, slapsalmon said:

I always thought it was to do with percentage owned. No idea why they wouldn't be, pretty sure they own more than 25%?

https://www.gov.uk/guidance/people-with-significant-control-pscs

 

Yeah shareholding hasn’t changed but Kibble are now showing as the only “person” with significant control.

 

[HSS]

999 St Mirren fans catching up on sleep while Div is searching Companies House at 9:30am 😂

[Leith Buddie]

Interested in knowing what this is - especially with the S*n saying that Jim G could be moving to the blue erse cheek...

[pod]

25 minutes ago, Leith Buddie said:

Interested in knowing what this is - especially with the S*n saying that Jim G could be moving to the blue erse cheek...

https://www.thescottishsun.co.uk/sport/13363377/rangers-new-chief-executive-jim-gillespie-st-mirren-bisgrove/?utm_campaign=native_share&utm_source=sharebar_native&utm_medium=sharebar_native

[pod]

Surely he can't have an invested interest in both clubs. 

[pod]

Are SMiSA no longer in control or were they ever ?

[StanleySaint]

Would seem to me time for a Chairman's update.

[pod]

8 minutes ago, StanleySaint said:

Would seem to me time for a Chairman's update.

Once he recovers from his hangover. 

[HSS]

37 minutes ago, pod said:

Once he recovers from his hangover. 

Met him early hours of Fri morning as we were both heading back to hotels Good to see he enjoyed it just as much as the fans (I know he is a fan but you know what I mean)

Edited August 17, 2024 by HSS

[div]

20 hours ago, HSS said:

999 St Mirren fans catching up on sleep while Div is searching Companies House at 9:30am 😂

😂

Not quite. Someone mentioned it to me in Norway, they had clocked it and asked if I knew what it was about.

Also got DMd about it on Twitter.

Sure it’s nothing concerning but it does seem a bit strange that Kibble are now listed as the only party with significant control.

[slapsalmon]

II noticed when I searched this yesterday there had been a partial change to the rules. Wonder if that's related to the board space about to open up.

 

https://mutuals.fca.org.uk/Search/Society/9202

 

Edited August 18, 2024 by slapsalmon

[beyond our ken]

I think all these things could be connected

Gillespie moving on didn't happen in a fortnight and the timing of both the rule change and the SMISA shareholding no longer representing a controlling interest (so-called "fan ownership" we have never been fan-owned) could be some housekeeping being done before he goes.

Calls in to question the decision to accept the watered-down ownership model because SMISA were sold the unfeasible dream of achieving majority ownership a couple of years earlier for less outlay.  Anybody coming in with money was bound to want their pound of flesh, eventually.

[beyond our ken]

20 hours ago, div said:

😂

Not quite. Someone mentioned it to me in Norway, they had clocked it and asked if I knew what it was about.

Also got DMd about it on Twitter.

Sure it’s nothing concerning but it does seem a bit strange that Kibble are now listed as the only party with significant control.

Well, Kibble would never submit official papers on behalf of the club without clearing it all with SMISA first, would they?

[alanb]

 

 

[faraway saint]

1 minute ago, alanb said:

 

 

Aww Naw, what's the mischief makers going to post now? 🤣

[alanb]

13 minutes ago, faraway saint said:

Aww Naw, what's the mischief makers going to post now? 🤣

Smisa tweet with Fork Tongue ??

 

[faraway saint]

27 minutes ago, alanb said:

Smisa tweet with Fork Tongue ??

 

😂😂😂

[beyond our ken]

On 8/19/2024 at 9:24 AM, alanb said:

 

 

Seems kinda redundant for SMISA to say the board are aware and are dealing with it as the form is signed by Jack McSkeane, who I think was one of the co-opted committee members from a couple of years ago.  And while the info may have come from companies house, the admin tidy up didn't come from them.  Maybe they notified the interested parties of an anomaly that needed to be corrected (i dont know if that is part of their role) but the tidy up could only come from the club.

[portmahomack saint]

On 8/19/2024 at 5:58 AM, beyond our ken said:

Well, Kibble would never submit official papers on behalf of the club without clearing it all with SMISA first, would they?

🤣

[HSS]

Companies House Explanation From SMiSA……….

Companies House - Person With Significant Control

You may have recently seen on social media etc. that SMiSA have been removed as a Person with Significant Control (PSC) with Companies House. Following an email campaign by HMRC to ensure companies were complying with PSC requirements, it was brought to the Club's attention that since SMiSA do not file tax returns we are not eligible to be named as a PSC. To ensure compliance, Chris Stewart (Club Secretary) removed SMiSA and will be replaced by SMiSA Secretary Jack McSkeane, who will be the PSC representing the SMiSA Board. Each time the Secretary changes, the PSC will also be updated at Companies House. 

Please be assured that this is no more than a tidy-up exercise by Companies House, and will not affect SMiSA's control of the Football Club. Should you have any further queries on this matter, please get in touch and we will be more than happy to discuss.

[beyond our ken]

Well explained, even if it took a wee while