I’m a member of SMiSA and have contributed to them for a long time.
That said, I am not speaking for them in any capacity and post below is solely my own opinion and view point.
SMiSA stands for St Mirren independent supporters association, it’s actually a supporters trust holding shares in the club and was intended as a vehicle for fan ownership, at least in part.
Like many things, it never really got as much of the broad based support of the majority of St Mirren supporters and has been mocked in the past for buying towel or t shirts on the fan forums.
Much of SMiSA’s funding efforts have went to supporting youth development initiatives in recent years.
The numbers of shares held are an original 1877 with a subsequent 2000 shares, these were bought in tranches when new share capital was available.
For a while,before Love Street sold and St Mirren park developed, there were vague murmurs of SMiSA being allowed to buy more shares but only after SMP deals were complete.
Today’s statement isn’t surprising http://www.smisa.net/news-archive/154-smisa-statement-on-existing-share-purchase-paisley-daily-express-advert
I welcome the move, I think SMiSA has built a fund with the help of it’s members and the next step is to go further with the core issue of fan ownership and even if it represents a mopping up of some minor shareholding to up the relative percentage held. I think that’s good.
I think the board has held off SMiSA from further direct investment and whilst the club was moving grounds that position was fair enough, but we’re much further down the line, there isn’t a crisis situation and whilst the board are exploring their options to sell the controlling interest, the relationship with the support had seemed to slightly drift or change from the days of raising money to help with stands.
In my opinion, SMiSA have been really patient, haven’t pushed too hard or too strongly and have contributed positively to initiatives where they have been able to.
I think it’s right to focus on upping the trusts share ownership and pursue ways to do that from those in private hands.
I’m guessing that there will be shares held by parties that may not want them or be interested and that there could be shares held in the club that are effectively dormant after the original holder passes away.
A few years back I guessed/figured at relative chunks of ownership and what element SMiSA had . I had a series of numbers figuring who had what and although it will now be out of date, it won’t be too far from the current situation.
My best guess was SMiSA’s shared equated to about 4% (I’m happy to be corrected )
I doubt the advert will get SMiSA up to a level of anywhere near having a double digit holding of triggering a seat on the board. but it might be possible that the trust can nudge on their ownership percentage gradually and incrementally.
A greater bloc of shares could be a better way forward to try and exert some say for ordinary fans.
My last word would be that if you are a St Mirren fan consider joining SMiSA and strengthening the numbers involved. It’s our club in so many ways, but we’ll always be subject to who had what holding in the holding or owning company.
We owe a hell of a lot to individuals that have saved the club in it’s hours of need and I’m in no way ungrateful to them, their personal sacrifice should be noted and should be out there for people to know, but the lessons from the 10,000 hours exercise are there to be looked at, as are friends of hearts and the Dunfermline buy-outs.
We know the present board want out, we hear or see the rumours of this or that, but in the long term, wouldn’t it be great if St Mirren could be fan owned one day?