Long Suffering Bairn Posted July 12, 2019 Share Posted July 12, 2019 Toshney & Leitch signed 2 Quote Link to comment Share on other sites More sharing options...
Long Suffering Bairn Posted July 12, 2019 Share Posted July 12, 2019 4 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted July 12, 2019 Share Posted July 12, 2019 There's no way anyone on the board should survive after the statement just put out by the Back the Bairns guys. Just read it. I maybe wouldnt have given them a week to try and wriggle out of it, but evidently Kenny Jamieson has decided to turn up the heat and he has my full support as a fan and a customer. 8 Quote Link to comment Share on other sites More sharing options...
GeordieBairn Posted July 12, 2019 Share Posted July 12, 2019 Six Months for Toshney and Leitch, sensible decisions imo. 0 Quote Link to comment Share on other sites More sharing options...
ka202 Posted July 12, 2019 Share Posted July 12, 2019 Fine 0 Quote Link to comment Share on other sites More sharing options...
AL-FFC Posted July 12, 2019 Share Posted July 12, 2019 1 minute ago, Bairnardo said: Just read it. I maybe wouldnt have given them a week to try and wriggle out of it, but evidently Kenny Jamieson has decided to turn up the heat and he has my full support as a fan and a customer. There a link to the statement ? 0 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted July 12, 2019 Share Posted July 12, 2019 There a link to the statement ? Emailed. Will post it standby 0 Quote Link to comment Share on other sites More sharing options...
ilostmyself Posted July 12, 2019 Share Posted July 12, 2019 Do we now have a full bench? Reckon we're done for the day? 0 Quote Link to comment Share on other sites More sharing options...
AL-FFC Posted July 12, 2019 Share Posted July 12, 2019 Just now, Bairnardo said: 2 minutes ago, AL-FFC said: There a link to the statement ? Emailed. Will post it standby Just got the email through just now 1 Quote Link to comment Share on other sites More sharing options...
Senor Bairn Posted July 12, 2019 Share Posted July 12, 2019 In November 2018 we were asked by the Board to partner with them to attract new investment by widening fan ownership. This request was made on the basis that both the Board and MSG were committed to fan ownership as the best way to safeguard the future of our club. We worked in good faith to develop the Back the Bairns (BTB) scheme, receiving huge support from shareholders at the AGM in December and significant pledged investment from fans in January 2019.Our joint mandate was to deliver against the timelines outlined at the AGM, specifically to develop a detailed proposal from January to March, bringing it back for final shareholder approval at an EGM in April, with the goal of launching the scheme in May. Our joint objective was to have funds available to supplement the football budget, in time for the transfer window opening in June 2019.From December to March we consulted extensively with MSG and Board members, redrafting four versions of the proposal to accommodate their feedback and challenges. We submitted the paper to the Board on 22nd March and met with them on the 28th. The paper included a final proposal on future governance and the transition plan to it, plus outline proposals on asset protection, the share issue and setting up a vehicle for the supporters’ shareholding. The transition plan involved half of the current Board standing down, to create a new Board equally balanced between old and new members. We expressed concern that there was a clear conflict of interest in asking the Board to approve this, but the MSG requested that the decision to progress the proposal should be deferred to the Board. We informed the Board that to meet the above timelines, we needed an immediate decision to enable us to move forward to the final stage of development, before bringing a full, detailed proposal back to shareholders at an EGM in late April or early May. Despite emails and voicemails we received no response until 16th April, when we were advised that there were “varying views on the most appropriate way forward” and that the Board “would hope to be able to conclude on this within the next 2-3 weeks”, clearly negating any possibility of achieving the above timelines. We were then surprised on 18th April by the Board announcement, published on the club website, that they were talking to “other potential investors”.On 19th April we expressed dismay at this news, reminding the Board that they had asked for our help on the basis that both they and the MSG were committed to widening fan ownership. Having received overwhelming shareholder endorsement at the AGM, we considered that the BTB proposal automatically had ‘preferred bidder’ status and was therefore entitled to a period of exclusivity. We considered it in bad faith for conversations to be taking place with other parties, and that it was unethical to encourage those other parties to potentially ‘gazump’ shareholders and supporters.We were told that both of the other parties were unsolicited, and that the Board were acting in the best interests of the club in pursuing them. We subsequently learned that Board and/or MSG members had met both parties within 10 days of receiving our paper on 22nd March. These actions raise some questions for shareholders to consider at the EGM:· What does it mean to act “in the best interests of the club”? To answer this, we should consider what a “club” is. A club is defined as “an association dedicated to a particular interest or activity”, while an association is defined as “a group of people organized for a joint purpose”. In the case of Falkirk Football Club, this group of people should legitimately be defined as ‘supporters’, a subset of whom are also shareholders. In short, shareholders and supporters are the “club”, organized for the joint purpose of running a football team. This is a fair and reasonable conclusion, indeed one confirmed by the club in its most recent marketing campaign. On this basis and by this definition, having received shareholders’ instruction at AGM to progress BTB to the agreed timelines, and having received supporters’ pledges to invest in the scheme:· Were the Board acting in the best interests of the club by deliberately missing the agreed timelines, thereby missing the goal of having funds available for the June transfer window?· Were the Board acting in the best interests of the club by denying BTB a period of exclusivity during which the scheme could be fully developed, then brought back to shareholders for approval (or rejection) at EGM?· Given that supporters are the club’s ‘customers’, were the Board acting in the best interests of the club by engaging with other potential investors who could potentially ‘gazump’, and therefore alienate, more than 1000 supporters who had pledged to invest in BTB?· Given that the success of BTB relies on the goodwill of shareholders and supporters, were the Board acting in the best interests of the club by publicly announcing their decision to prioritize other potential investors over pledged investment and, in doing so, did they risk undermining or losing £800,000 of new investment, as well as damaging goodwill?· In deciding to prioritize the pursuit of other potential investors to the detriment of progressing BTB on schedule, and therefore in clear contravention of most shareholders’ wishes, were the Board acting in the best interests of all shareholders in doing so?· Even if the Board felt it was appropriate to engage with other potential investors, why wasn’t BTB progressed to the agreed timelines in parallel with these conversations, and why weren’t they kept private & confidential to avoid undermining BTB and damaging goodwill?· Given how infrequently unsolicited approaches about ownership are received by the club, how credible is it that not one but two such approaches were received within days of the Board receiving the BTB proposal on 22nd March?· Given the clear conflict of interest contained in the BTB proposal, were any Board members who blocked the progress of BTB and/or proactively approached other potential investors, acting in the best interests of the club or their own self-interest by doing so?Since November 2018 we have freely given our time and energy to support the Board in seeking new investment for our club. Having gained ‘in principle’ agreement from shareholders at the AGM in December, plus significant pledged investment from supporters in January, there is no good reason why a fully developed BTB proposal wasn’t delivered to shareholders, as per the agreed timelines. In our view the Board should have considered BTB to have ‘preferred bidder’ status and afforded it a period of exclusivity, during which it could be fully developed and brought back to shareholders as per their instructions. At this point it would either have been accepted or rejected by shareholders. With either outcome there would be no impediment to the Board exercising their fiduciary duty by engaging with other potential investors, at all times acting in the best interests of the club.It is now over six months since the AGM and sixteen weeks since the Board received the BTB proposal. We remain committed to progressing the scheme and this week submitted a fifth version of the BTB proposal, updated to incorporate further information requested by the MSG. We anticipate receiving a decision by 26th July. 12th July 2019 3 Quote Link to comment Share on other sites More sharing options...
Chinatoon Bairn Posted July 12, 2019 Share Posted July 12, 2019 Noo there a statement 1 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted July 12, 2019 Share Posted July 12, 2019 The TL;DR version is as follows.Dear Arseholes,Stop telling lies, get out of our club. Regards Everyone 12 Quote Link to comment Share on other sites More sharing options...
Senor Bairn Posted July 12, 2019 Share Posted July 12, 2019 Charity boxing match Lex Miller vs Mike Tyson let’s get it sorted boys x 4 Quote Link to comment Share on other sites More sharing options...
falkirkzombie Posted July 12, 2019 Share Posted July 12, 2019 Lex will struggle to read all of that 0 Quote Link to comment Share on other sites More sharing options...
falkirkzombie Posted July 12, 2019 Share Posted July 12, 2019 Rumour is a fee is currently being negotiatedLex will be looking for a cut, sure the boy Mcbride is Dunnes agent. (Lex ,Mcbride and Dunnes father all all friends) 1 Quote Link to comment Share on other sites More sharing options...
Grangemouth Bairn Posted July 12, 2019 Share Posted July 12, 2019 35 minutes ago, Monkey Tennis said: Jeepers lads. I think dear old Marshmallo has maybe lost it again, a bit like he did towards the end of the season. He's just red dotted about twenty of my posts across four or five threads - most of them perfectly innocuous in nature. I hope the lad's ok. I worry about him a little at times. Keep an eye on him. You have twenty posts ? Across 5 thread ? In one night ? You are a really sad c**t mate. 0 Quote Link to comment Share on other sites More sharing options...
AL-FFC Posted July 12, 2019 Share Posted July 12, 2019 On the face of it the MSG have quite clearly been c**ts about it, they arent acting in the best interests of the club they are acting in the best interests of themselves financially which is in sense a fair one but going by the other releases by the board i.e. the investment by BtB wanting the money but not willing to relinquish any control or shares to anyone else so same faces in charge but get to piss someone elses money up against the wall instead of their own. to hazard a guess no comments over ownership of the club in over 2 weeks now not even any rumours would suggest any interested parties have pulled out as they are either wanting too much money for their shares or they have pissed the interested parties about as much as BtB and they have walked away. I dont even believe the comment about the 4 months timeline for a change in ownership with the 3 new directors being appointed and to "oversee" transition. 0 Quote Link to comment Share on other sites More sharing options...
Monkey Tennis Posted July 12, 2019 Share Posted July 12, 2019 1 minute ago, Grangemouth Bairn said: You have twenty posts ? Across 5 thread ? In one night ? You are a really sad c**t mate. Eh? Who mentioned one night? Why are you swearing at me? 0 Quote Link to comment Share on other sites More sharing options...
Harry Kinnear Posted July 12, 2019 Share Posted July 12, 2019 Lex will struggle to read all of thatHe might read it but he won't have a fucking clue what it means. 2 Quote Link to comment Share on other sites More sharing options...
Long Suffering Bairn Posted July 12, 2019 Share Posted July 12, 2019 The Kinneil band can put their boots away now, looks like we got the bench sorted after all. 0 Quote Link to comment Share on other sites More sharing options...
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