steelmen Posted June 19 Share Posted June 19 23 minutes ago, StAndrew7 said: Yes. Then lets hope they have the fortitude to do it. 0 Quote Link to comment Share on other sites More sharing options...
Jim McLean's Ghost Posted June 19 Share Posted June 19 New statement is a disgrace. You can see they have tried every trick in the book to devalue the club placing its value below the book value of our fixed assets. In their analysis Fir Park and everything in it is worth close to nothing. Remember our FIXED ASSETS is on the books at over £6.5m It is funny how when someone wants to buy something on the cheap the assets become more like liabilities which makes you wonder if they truly believed that why are they investing in the first place. And just for reference the Well Society bought its initial 5% of shares for £250,000. Valuing the club at £5m over a decade ago. 4 Quote Link to comment Share on other sites More sharing options...
Vietnam91 Posted June 19 Share Posted June 19 1 minute ago, Jim McLean's Ghost said: And just for reference the Well Society bought its initial 5% of shares for £250,000. Valuing the club at £5m over a decade ago. Oh look: https://www.in2013dollars.com/uk/inflation/2012?amount=250000 0 Quote Link to comment Share on other sites More sharing options...
capt_oats Posted June 19 Share Posted June 19 And the hits just keep on coming... 0 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted June 19 Share Posted June 19 4 minutes ago, capt_oats said: And the hits just keep on coming... Eww. 0 Quote Link to comment Share on other sites More sharing options...
Jim McLean's Ghost Posted June 19 Share Posted June 19 Quote Consequently, all of the just over 300,000 shares currently in issue remain in issue – they do not cease to exist and none of them are transferred to Erik Barmack. In return for each of his annual investments Erik Barmack receives new shares issued by the club. If no other new shares were issued, then Erik Barmack would own all of the new shares and in time far more shares than the current shareholders. If that situation was allowed to occur, then he would become the majority shareholder and have all the many resulting rights of a majority shareholder. To avoid any new investor becoming the majority shareholder the only way this can be achieved is for the club to issue new shares (at the exact same price) to be purchased by the Well Society and the current 29% other shareholders if they so wish, who have the legal right to be involved in any new share issue. This is to preserve fan ownership. Notice they don't say how many new shares they are issuing.. From what they are saying here my analysis is correct and the total number of shares issued will go from 300,000 to around 1.8m. Meaning that of course the old shares continue to exist but their value is essentially wiped out. If there is to be a truly democratic vote then we need to see the FULL TEXT of the deal to make an informed decision. Statements and Head of Terms are not enough. 1 Quote Link to comment Share on other sites More sharing options...
crazylegsjoe_mfc Posted June 19 Share Posted June 19 8 minutes ago, capt_oats said: And the hits just keep on coming... If he wasn't returning from over a season out and we needed a central midfielder, I would still be massively underwhelmed by us signing him. Add in those two factors and he's just really not what we need. 6 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted June 19 Share Posted June 19 (edited) 5 minutes ago, Jim McLean's Ghost said: Notice they don't say how many new shares they are issuing.. From what they are saying here my analysis is correct and the total number of shares issued will go from 300,000 to around 1.8m. Meaning that of course the old shares continue to exist but their value is essentially wiped out. If there is to be a truly democratic vote then we need to see the FULL TEXT of the deal to make an informed decision. Statements and Head of Terms are not enough. Agreed; where's the business plan from Erik, too? If fans want the Well Society to publish a detailed proposal to counter this one; where is the detailed plan for it to be considered against? Surely the Board have to make decisions based on more than fluff/waffle that's been posted on here. Where are the KPIs, ROI calculations, plans for additional investment and attracting others to invest? If that's the information they've got, why can't those voting on it be provided with that? If they don't have that information, how on earth can they expect people voting to make an informed decision on things, other than them saying "Trust us, it'll be reet. Y'know, the ones that didn't tell you the manager had an extension triggered. And the ones who are patronising auld b*****ds. Yeah, us. We're absolutely trustworthy." Edited June 19 by StAndrew7 1 Quote Link to comment Share on other sites More sharing options...
Comrie Posted June 19 Share Posted June 19 3 minutes ago, crazylegsjoe_mfc said: If he wasn't returning from over a season out and we needed a central midfielder, I would still be massively underwhelmed by us signing him. Add in those two factors and he's just really not what we need. He can't play as a 6 an 8 or a 10. Living off that one season at Accies. 0 Quote Link to comment Share on other sites More sharing options...
MurrayWell Posted June 19 Share Posted June 19 Could that Callachan link mean Slattery has KB'd us? Really not keen on Callachan tbh. 1 Quote Link to comment Share on other sites More sharing options...
rowsdower Posted June 19 Share Posted June 19 Fair play to the person who replied on the socials that that was an excellent and informative statement for completely changing the definition of two words in one sentence. 2 Quote Link to comment Share on other sites More sharing options...
rowsdower Posted June 19 Share Posted June 19 Not enthused by us signing shite accies midfielders. I hope our push to have folk signed early isn't at the expense of signing actual quality. 0 Quote Link to comment Share on other sites More sharing options...
Jim McLean's Ghost Posted June 19 Share Posted June 19 Just now, rowsdower said: Fair play to the person who replied on the socials that that was an excellent and informative statement for completely changing the definition of two words in one sentence. Aye for everyone wanting actual detail of what is actually happening there is none. No detailed breakdown of how new shares are to be issued. No plan from Erik either. All we have is leaks whatsapps about his and possibly playingmexican players wearing tequila billboards and a game at Wembley. 1 Quote Link to comment Share on other sites More sharing options...
Jim McLean's Ghost Posted June 19 Share Posted June 19 4 minutes ago, MurrayWell said: Could that Callachan link mean Slattery has KB'd us? Really not keen on Callachan tbh. Slattery is not going to be fit for months and he wasn't exactly popular when he was fit. Kettlewell had him in and out the team all the time. He was only offered a new deal because he has a long term injury. 0 Quote Link to comment Share on other sites More sharing options...
Ron Aldo Posted June 19 Share Posted June 19 Always reassuring when you Google search a potential signing and this is the first image... 5 Quote Link to comment Share on other sites More sharing options...
crazylegsjoe_mfc Posted June 19 Share Posted June 19 1 minute ago, Comrie said: He can't play as a 6 an 8 or a 10. Living off that one season at Accies. I actually remember his name getting banded about this thread after that season at Accies. Having not seen that much of him myself, I thought at that point he might have been a decent signing based on scoring double figures in a relegated team. Safe to say there weren't many in agreement with me - but as you say, he's really not kicked on from that good season and if he wasn't worth signing then, he definitely isn't now. 1 minute ago, MurrayWell said: Could that Callachan link mean Slattery has KB'd us? Really not keen on Callachan tbh. I was thinking that myself. There were some stories floating about that a deal was agreed with Slattery a few weeks ago (albeit not with quotes). Hopefully we've learned our lesson on Chrissy Long / Dan Casey about allowing players to sign whenever they like during pre season, especially when they've not kicked a ball in six months. However, I remember someone on here saying they saw him at a game towards the end of the season where he was limping - he might still actually be doing rehab with the physio and there's no massive urgency on pen-to-paper in that regard (apart from him getting paid, of course). 0 Quote Link to comment Share on other sites More sharing options...
Swello Posted June 19 Share Posted June 19 4 minutes ago, rowsdower said: Fair play to the person who replied on the socials that that was an excellent and informative statement for completely changing the definition of two words in one sentence. Douglas Dickie burner account found. 1 Quote Link to comment Share on other sites More sharing options...
Jim McLean's Ghost Posted June 19 Share Posted June 19 Also the dodging of actual accountability Quote The view of the club Board is that given over 3,000 people are entitled to vote on the proposal, communicating through the publication of statements ensures all voters are privy to the same information. Public meetings, where many will be unable to attend, cannot achieve the same coverage. You can record meetings and produce summaries if you really wanted to have them. And trying once again to Jedi Mind Trick the Well Society board from not binning this by themselves. 2 Quote Link to comment Share on other sites More sharing options...
camer0n_mcd Posted June 19 Share Posted June 19 5 minutes ago, Swello said: Douglas Dickie burner account found. The four likes are Jim McMahon, Tam Feely, Maureen Downie and Erik Barmack. 2 Quote Link to comment Share on other sites More sharing options...
rowsdower Posted June 19 Share Posted June 19 "This vague plan to sell our club down the river is good enough for me, unless the Well Society counter with a very detailed plan that is accurate to the penny, is clearly better than the one I don't know the details of, and gets us a TV show like Mac and Deadpool did." I think this tenuous netflix link has caused some folk to lose the run of themselves. Take that out and I doubt any of the current supporters of it would fancy it. 2 Quote Link to comment Share on other sites More sharing options...
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