Venue was Wynd Centre auditorium.
40 or so in all
John White, George Adam and Gordon Scott spoke on the proposal.
Andrew Jenkins Supporters Direct there too.
Format was presentation, Q and A and members vote.
There’s an agreement in principle with the Gilmour Consortium. Idea is GS and SMiSA buy together with a ten year agreement to then buy out the majority share holding.
There’s an exclusivity agreement that will help GS and SMiSA.
Ideally want to be running club for 16/17 season.
Offer conditional on SMiSA fundraising.
Background, last 7 years consortium have wanted to sell.
George Adam has been negotiating with GS and also with Stewart Gilmour.
The price is around £1 Million for club.
A supporters direct ‘expert’ formerly involved with West Ham has been in at club seen books and way club trades. Described St Mirren as a well run club and a perfect model for fan ownership.
GS was introduced, he’s made a choice to get involved and he has a vision for the club. – he felt top table, top six of premier is where club belonged. He wants a new challenge, wants to empower fans and it’s a chance to preserve club.
GA continued with the proposal.
Offer is for 68%, SMiSA and GS have existing shares to have a 75% interest.
GA believes it’s best deal for fans, supporters direct have confirmed price is fair.
There’s a deposit for exclusivity that GS and SMiSA will initially put up.
Idea is a long term transition from Gordon holding majority % to that being owned by the fans. GS will be chairman but SMiSA will have ability to veto key points, longer term more SMiSA members will be directors.
Can only happen if fans get involved consortium need cash up front so SMiSA will need to raise money and get in subscriptions at £12 per month. Target is at least 1000 involved.
SMiSA AGM is 16th April.
Important to stress that this is best deal. GA has been talking and talking to get consortium price down.
All in all, I wholly back this proposal, speakers were impressive.