[The Brechin City Thread]

3 minutes ago, theoriginalhedge said:

That is not what was suggested earlier. The supporters club though is a different matter altogether. 

I didn't say it had been suggested earlier.  Its simply an option that is available - but I haven't seen it mentioned anywhere. 

[The Brechin City Thread]

1 minute ago, beaver1 said:

In other words, give away a quarter share of the club for free?

They are trying to raise capital. The distribution of a small amount of shares to season ticket holders is not an unreasonable goodwill gesture.

Yes, 'give away' to current supporters or the supporters club for 'free'. Currently 100% of the club is owned by the supporters. In essence make 75% of the club available to 'investors'

[The Brechin City Thread]

8 minutes ago, Cold Feet said:

My understanding is that all current season ticket holders will get 15 shares - lets say that is 150 folk it equates to a fair chunk of shares. Shares will then be sold - no idea of their worth, I will be purchasing. 

15x150 = £2,250. Lets say they hope to raise £100,000 with the incorporation (a realistic number?). That is less than 3%. 

Do you think it make sense for the current season ticket holders be given a larger number of opening shares to bring this closer to the 25% required to avoid giving complete control to 2/3 individuals? (however good there intentions at the moment).

[The Brechin City Thread]

3 minutes ago, Hedgecutter said:

What about 26% to ensure the supporters had to be on board with any asset sale (ie. no handful of investors could reach 75%)... or would that just scare investors off?

25% would be enough for the supporters to then have a say on the asset sale.

If it did 'scare investors off' I would have to question what those investors motives were in the first place?

[The Brechin City Thread]

7 minutes ago, theoriginalhedge said:

This is where the supporters club have to step up to the mark to ensure they remain a prominent investor. 

Agreed.

I wonder if thought has been given to 'gifting' an initial shareholding to the supporters club at the start? If say, 25% of the initial shares ended up in the supporters club hands at the start I would be much more likely to vote for the incorporation.

[The Brechin City Thread]

29 minutes ago, theoriginalhedge said:

I might be wrong , but having 25% shareholding does not equate to a guaranteed 25% voting right . 

You are wrong. Read section 51.2 of the proposed Articles of Association. 

It is worrying that such a basic concept of the incorporation is missed. The vast majority of supporters who will be voting will not understand the implications of what they are actually voting for as you have shown.

[The Brechin City Thread]

Excellent. Well done on the rethink.

[The Brechin City Thread]

First time in 20ish years I’ll not be getting one then.