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  1. Today
  2. Nope - I want a Board that has the ability to balance a budget and has the Business Acumen ( and contacts ) to do so I want a majority shareholder to act like it and take the required steps when this isn't happening Tranche 2 application demonstrates we require TJF to review its position as the very idea of it is a nonsense £1MN of cash in the space of 6 Months for a Company that turns over £2MN - what planet are you living on And this is a serious proposal FFS thats unbelievable
  3. Did you sack anyone for forcing you down a route you didnt want to Go - Nope Did you re-elect Directors involved in Tranche 1 - Yes So there is your answer A proper Shareholder would have fired people - thats part of your job If it was a Jlo Board you would have done it in a Heartbeat
  4. We refused to agree to the original investment proposal documents. We explained this in our Investment Process document of 18th October 2023. Several substantive changes were made to the contents of the Investment Agreement and the proposed changes to the Articles of Association in direct response to TJF pushing back. If you actually bothered to read that document you'd see the four core commitments that we secured: a strengthened protection of the majority shareholding compared to the original proposal an explicit commitment to future fan consultation (now enshrined in the CTA) an accelerated process to draft and implement a legally binding CTA (to give those commitments teeth, now to be signed later this week) stronger carve-outs than the original deal provided to allow TJF to communicate the terms of the deal to our members and the wider fanbase That process wasn't flawless, but you are just talking rubbish about TJF's role in it and I won't just sit here and let you misrepresent what happened. We weren't, and still aren't, the majority shareholder Jim. At the time of the investment we were one of only four trustees. TJF had, indeed still has, no power unilaterally to remove anyone as a director of the Football Club. The difference between you and us is that we are willing to work with people to improve things when the Club is mere weeks away from running out of cash. You want to throw your toys out the pram. We don't want to replace that Board, Jim. We want to work with them to provide a period of stability at the Football Club, and to unify the Club. We want to build things. You want a tantrum.
  5. Did you sack anyone after you were left with No Alternative but to agree to Tranche 1 - Nope Did you re- elect Board members involved in the Tranche 1 forcing your hand - Yip so there you are - a proper Shareholder would have sacked people - you didnt If you were working for a Real Company - went to the Shareholders said we are looking to sell off circa 10% of the Shares Shareholders say - what for ? well we have a few ideas “ but no detail but we defo want to sell off 10% and we will sort out how we will spend the cash nearer the time Your feet wouldn't touch the Ground as they removed you from the premises - instant dismissal Thats the difference between Real Companies -and playing at Running one with other peoples money at PTFC We would like £500K What for ? Well we have a few ideas GTF - a few ideas - but we want £500k what planet are you living on ? Why is this even being discussed ? its a non starter and why are the Board insisting on chasing this Tranche 2 of £500k ? The fact that TJF are even talking to the Board about this is scary and well based on TJF Track Record they will Roll over
  6. Yesterday
  7. Bollocks. You are not privy to almost any of the direct correspondence between the Club Board and TJF so you have absolutely no idea what has and hasn't been asked of us or whether and when we have pushed back. No it isn't. Stop talking bollocks. You're literally just making shit up now.
  8. At least it'll offer some light relief from the tranche warfare over on yon other thread.
  9. When have you rejected a Board request - you were bullied into accepting Tranche 1 Who did you sack for putting you in that position - No One - TJF got the flack - when you were put in a No Win Position but you just said OK A real major shareholder would have removed Board Members as a result but TJF did nada So you will Roll Over as normal and support Tranche 2 WTF are you scared of - do you somehow think that you cant replace the Board in a heartbeat ?
  10. TJF have complied with every single request from the Board without Question Tranche 2 is a done deal from TJF There is no “ additional revenues “ that require Tranche 2 ( given your forecasted to have £350K of Tranche 1 remaining at the end of the Season ) So what do the Board need £850K of Working Capital to spend on increasing Revenues on ? If its for Stadium Related Repairs then it means they were not in the AGM Budget and thats an major issue as its a requirement -and it has to be budgeted for as a future major Capital Spend So if all they have is “ideas” thats playing with someone else's money and indicates there is no actual plan So here is the problem and why TJF will support yet another (unnecessary ) Sell off of Shares TJF reject the proposals its a defacto vote of No Confidence in the Boards Strategy Plans ( the Strategy Plans that for some reason were not put to the AGM) TJF will coat it in warm words - but as per - they will not go against the Board Tranche 2 is not required If Tranche 2 is required for Major Capital Spend not flagged up at the AGM - Directors get sacked Beyond that there is no “investment” thats going to get you a return that is worth selling off another chunk of the Club for - what is being suggested is that previous Boards missed a major Revenue Opportunity that the Current Board have discovered ? and £500k will get a return so lets sell off more shares Are you being serious ? The mere fact Tranche 2 is even being discussed is frankly ridiculous The ROI is what we would expect to see as a Club ( not the USA Investor) by selling off £500K of shares and “ investing them” in actions that will show a return of both the initial Capital and the % profit You would expect the initial Capital Sum to be repaid over three years with 10% each year So thats circa £200K of ADDITIONAL Revenue to the Club each year for three years - are the Board going to sign up to that - do you have guarantees ? Ask them if it was there own cash would they be funding it ? Tranche 2 is NOT required if all you have is vague “ ideas” its a complete nonsense
  11. As explained at the AGM, any proposed tranche 2 would be spend on potential improvements, that’s not essential and budgeted maintenance. An ROI doesn’t mean an ROI to the investor if same deal as Tranche 1, it means club starts generating more in areas, or pays less out in others, both affecting balance sheet positively. Current deal on Tranche 1 means investor gets none of their cash back till the club has significantly more cash in the bank than it ever has had in its history, and as cash goes back to investors, shares are returned to the club. If a proposal comes through, then Trustees would want to ensure terms are right, and it’s being put to a use that should either generate revenue or lower spend. Several “ideas” for that potential spend were put to the shareholders on the night and WJ has also shared that slide on here. If a proposal came through that had favorable terms and was being spent in correct way then Trustees would communicate that to beneficiaries prior to a vote, again if terms were poor and it was proposed to be squandered on a beer and sandwich marquee or having us temporarily living out with our means using this ASA supplementary budget, again Trustees would communicate this to the beneficiaries prior to a vote. There is no secret, no hidden deals, Jim and you know enough of us on TJF board to know we would never be any boards puppet and our ultimate responsibility is to the members, they are the ones we stand next to at Firhill, before our tenures, during, and after and no way would we sacrifice that or the long term future of the club, we are fans who have been trusted with a vote for a short spell of time to represent the members and beneficiaries. That’s something I and the rest of this board don’t take lightly, and it’s not “Playing with other folks money” it’s trying to protect the club we love, the club that’s now supported by the 4th generation of my family and the same with others. It’s our history, my dads, my Granda’s and my daughter, nephews and every other Thistle fan in same position were doing this for, not for ties, comps or kudos.
  12. I can assure you that is most definitely not the case
  13. Looking forward to this and a chance to use my season ticket for the first time ever (3 seasons). There's something special about a night game and I'm sure the Jags will turn up and give us plenty to cheer. P.S. Decided it's not too early to start the thread, as the game's on a Friday
  14. As has been stated the information is out there - its largely gone un-noticed that the Board want to sell off more Shares a few weeks after the AGM So reminding Fans of that isn't a Big Issue Its not "Fake News" its a statement of fact - the Board wish to sell off another chunk of Shares I'm Questioning the why - not the fact they want to do it
  15. Sorry I am not being distracted. You started this thread, as you did the one after AGM on the premise that something was trying to get slipped past everybody. As I said Fake news.
  16. When I mentioned it is hardly the point The simple fact is that if Tranche 2 is meaning that the Club is looking for funding for items that should have been included in the AGM Budgets then that's a significant issue Because if Tranche 2 is refused - that means that there is no allowance in the Budgets for these items If it turns out that items like Stadium UpKeep are part of Tranche 2 Funding- then TJF have to decide how they act as Stadium Repairs and major Capital Spend are factored into normal Budgeting ( even if its staged over a couple of Years) So the only thing that Tranche 2 would be used for is for a significant investment that Guarantees a Major revenue return over circa 2-3 Years And for the avoidance of doubt you are looking at a Return of Capital Employed of at least 10% per Year for the £500K "investment" that means you also pay back the Capital Sum of £500K I wait with baited breath as to that Cunning Plan
  17. Was thinking the same. Kinda pricey. Also think it strange that ST holders continue to be effectively charged extra.
  18. Behave. The 1st time you mentioned it after the AGM was when there was news article about it. You seem to be the only one that thinks something underhand is going on.
  19. Is it just me or anyone else think the £50 season ticket price for the hospitality on Friday night, for a pint and a bit of curry is OTT??.. Bring a friend for a £10.. is good..
  20. If this goes on much longer I am going to start the match thread for the Dumfy game
  21. It's even put me off beer and sandwiches. Well, maybe not the beer.
  22. OK - thanks for that And let me be blunt If a Single Penny is proposed for the upkeep of the Stadium ie New Roof on the JHS etc etc I expect TJF to remove Directors from the Board We all know we have major issues in the Near Future that requires significant finances regards the Stadium You make allowances for these in Your Budgeting Building up Reserves over a couple of Years to get to the required level for the Capital Spend Now I don't have the detail of the Budgets that TJF have had But if that wasn't done then the Budgets presented to the AGM were not factoring in our ongoing financial requirements If the Plan is that these are funded by Tranche 2 ( as opposed to day to day income ) Then that's a serious issue because if Tranche 2 is rejected than how do you fund the Repairs Tranche 1 was presented in a manner that TJF had no option but to agree ( personally I would have fired people- but that's just me 🙂) But that cannot be repeated - we cannot be in a position where there is a Gun to our Head of Funding which involves Share Sell Off Where is the Plan over the next Three Years to fund the Major Stadium Repairs that is required- from our normal Business Turnover - if there isn't one - then TJF have to react to that - where is the Budget Allocation to fund this as its a Ticking Financial Bomb Im sure Donald McClymont is a decent man but his cash is not required at this Juncture
  23. Reference my Business Acumen There is a vast difference between playing at Running a Business with other Peoples Money & actually Running one where a mistake can lose everything you have When your actually Running a Business where its your cash - you learn how to Budget & You learn how to forecast - there isnt Free Money from America to bail you out But thanks for your assessment of my Business Skills I suppose Ive just been lucky over the past 27 Years
  24. Okay, let me be even more categorical. No informal proposal has been presented to TJF or the Trustees either! There was one meeting with Donald McClymont and other Club Board members shortly after the AGM at which aspects of the process were clarified and broad intentions as to the structure of any investment were clarified. But as of yet there has been no discussion on the substance of how the funds would be used. We've made clear we think it shouldn't be used to fund operating losses, and that we'd want to see detailed financial forecasting and budgeting in connection with any proposal, if progressed. That expectation has been set and we won't recommend to the fans any proposal that doesn't provide that information.
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