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The Brechin City Thread


Hedgecutter

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15 minutes ago, City Slicker1906 said:

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.

I stand corrected. 

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

Also I would hope most of the investors have Brechin City at heart and not the assets. 

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1 minute ago, theoriginalhedge said:

I stand corrected. 

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

Also I would hope most of the investors have Brechin City at heart and not the assets. 

And this is the problem I have with the whole thing.  There can be no guarantees that is the case.

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Posted (edited)
17 minutes ago, Brechin City FC said:

And this is the problem I have with the whole thing.  There can be no guarantees that is the case.

image.png.cac77c3d784cfb1c914b9d06389e5c16.png

Let's be honest, history has shown that anybody investing heavily in any Scottish football club has either left their business brain behind or is a complete crook.

Edited by Hedgecutter
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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.

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9 minutes ago, Brechin City FC said:

And this is the problem I have with the whole thing.  There can be no guarantees that is the case.

Going on the response the club had in the past few years with donations to help out from genuine supporters , I don't think we have much to worry about in that department. 

 

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6 minutes ago, City Slicker1906 said:

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.

Given the donations from the supporters club both past and future , I would think that a very sensible suggestion. 

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6 minutes ago, City Slicker1906 said:

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.

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?

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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?

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Doing a little research I found the new company here https://suite.endole.co.uk/insight/company/SC698662-brechin-city-football-club-limited?page=overview

Listed directors are Kevin Mackie along with high Campbell Adamson with Thornton's as secretary.

If anyone wishes to see anything else you'd have to pay 13quid for a copy of a report.

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Company has issued two x £1 shares, held equally by Kevin Mackie and Hugh Adamson.

Company using Thorntons Dundee as their service address.

Companies House extracts here, freely accessible.

Given age of company (two weeks old), there's not much else to be found at Companies House yet, as would be expected.

https://find-and-update.company-information.service.gov.uk/company/SC698662

Also, here's some pictures of Brora today. Enjoy your trips.

IMG_20210530_104534.jpegIMG_20210530_102929_1.jpegIMG_20210530_100027.jpeg

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In terms of incorporation, I have asked questions and gotten resposnes.

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. I too invested previously when the call came out but will not do it again unless change happens on Monday

Yes initially the deal was that it would not happen if we were relegated but I know of several folk who got in touch with Hugh and said it did need to happen if for no other reason than the whole structure needed to change, sure investment will be impacted on but most crucially the management of the club will change. It has clearly become a busted flush.

We are looking to be operating of a similar model to Arbroath who implemented something similar, doesn't seem to have done them any harm. Everyone who has been involved to date have the interests of Brechin at heart, there is a team of box standard supporters who have explored and discussed the incorporation model. You either trust their deliberations and presentation on Monday or don't. Ask questions.

Brechin is hardly a metropolis with land at a premium so I dont think anyone will want to even buy the site and I think their will always be enough City supporters with shares that this will not happen. 

I for one will back the change. 

 

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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).

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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).

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.
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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'

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37 minutes ago, City Slicker1906 said:

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).

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

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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. 

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I don’t blame Brechin trying to get in the LL - in end all clubs act in self interest even the Holier than thou clubs in the Ll and HL, that is Scottish football in a nutshell .

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I don’t blame Brechin trying to get in the LL - in end all clubs act in self interest even the Holier than thou clubs in the Ll and HL, that is Scottish football in a nutshell .
exactly it's why scottish football is never going anywhere and why the juniors should be a separate entity.
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