Big Announcement

[Garscube Road End 2]

29 minutes ago, javeajag said:

Not me …. You literally have nothing positive to offer …. Nada 

And you have nothing to offer on fans ownership except what you are being spoon-fed. The stuff now coming out shows that J Low wants to keep an iron grip on the club, and as the sole director of 3BC she can. This fan ownership is a Sham. But you just bury your head in the sand. , offering NOTHING!

[javeajag]

3 minutes ago, Garscube Road End 2 said:

And you have nothing to offer on fans ownership except what you are being spoon-fed. The stuff now coming out shows that J Low wants to keep an iron grip on the club, and as the sole director of 3BC she can. This fan ownership is a Sham. But you just bury your head in the sand. , offering NOTHING!

Listen mr depressing …. Try and read …. I have less involvement in fan ownership than for example Norge …. If you check you will see u have always been very lukewarm on fan ownership …. But if that’s the only option then we have to make it work because your option well there isn’t one is there ?

btw I was told that after the share transfer jlow intends to retire so another of your conspiracy theories bites the dust 

[Garscube Road End 2]

Just now, javeajag said:

Listen mr depressing …. Try and read …. I have less involvement in fan ownership than for example Norge …. If you check you will see u have always been very lukewarm on fan ownership …. But if that’s the only option then we have to make it work because your option well there isn’t one is there ?

btw I was told that after the share transfer jlow intends to retire so another of your conspiracy theories bites the dust 

If that is so about J Low, will she take the 500k black hole with her? 

[javeajag]

3 minutes ago, Garscube Road End 2 said:

If that is so about J Low, will she take the 500k black hole with her? 

Stop …. Any one would know she can’t ….getting a bit mysognistic

[Garscube Road End 2]

10 minutes ago, javeajag said:

Stop …. Any one would know she can’t ….getting a bit mysognistic

Wherever do you get the mysogonism from? She is club chairman and sole director of 3BC! Surely she is responsible for clearing this financial problem or are TJF being left with debt, that was promised there wouldn't be?

[javeajag]

30 minutes ago, Garscube Road End 2 said:

Wherever do you get the mysogonism from? She is club chairman and sole director of 3BC! Surely she is responsible for clearing this financial problem or are TJF being left with debt, that was promised there wouldn't be?

1. Your assuming there is a financial problem as yet that is unproven

2, At the moment there is no debt 

3. your always negative 

[Garscube Road End 2]

11 minutes ago, javeajag said:

1. Your assuming there is a financial problem as yet that is unproven

2, At the moment there is no debt 

3. your always negative 

It is you're by the way. Like yourself I have been sceptical about fan ownership, mainly because I don't believe we have a big enough fan base to make it a long term success. Our fan base is shrinking. 

[sandy]

2 hours ago, javeajag said:

1. Your assuming there is a financial problem as yet that is unproven

2, At the moment there is no debt 

3. your always negative 

1. Is bollocks (and you know it). 2. We’ll be in debt this current financial year without TBC subsidies.

 

3. it’s you’re 

[Lenziejag]

1 hour ago, sandy said:

1. Is bollocks (and you know it). 2. We’ll be in debt this current financial year without TBC subsidies.

 

3. it’s you’re 

2. Based on what - a truncated season in league 1 with no physical attendance ? 

[sandy]

10 minutes ago, Lenziejag said:

2. Based on what - a truncated season in league 1 with no physical attendance ? 

Based on our current spending 

[javeajag]

1 hour ago, sandy said:

1. Is bollocks (and you know it). 2. We’ll be in debt this current financial year without TBC subsidies.

 

3. it’s you’re 

No it’s unproven

if I pay your debt then your not in debt ffs

the issue is whether we are overspending vs our income , as yet we don’t know 

[sandy]

5 minutes ago, javeajag said:

No it’s unproven

if I pay your debt then your not in debt ffs

the issue is whether we are overspending vs our income , as yet we don’t know 

We do know, we have been.

And it’s still ‘you’re’ 

[javeajag]

Just now, sandy said:

We do know, we have been.

And it’s still ‘you’re’ 

HR people nit pick but can’t add up 

[sandy]

6 minutes ago, javeajag said:

HR people nit pick but can’t add up 

Away and listen to the game.
 

RBOS made a mess of financials and they were in denial too. 

Edited March 26, 2022 by sandy

[Lenziejag]

29 minutes ago, sandy said:

Based on our current spending 

You know what our current spending is ? Do you work for Thistle ?

[scotty]

13 minutes ago, sandy said:

And it’s still ‘you’re’ 

Not this time!

[Norgethistle]

3 hours ago, Lenziejag said:

2. Based on what - a truncated season in league 1 with no physical attendance ? 

Season ticket money was there as was streaming money (not there previously). 

[Lenziejag]

12 hours ago, Norgethistle said:

Season ticket money was there as was streaming money (not there previously). 

Do you think the streaming money at £12 makes up for non st attendance at £20, hospitality etc ? We have had no visibility of streaming numbers on a regular basis.

[joekea]

1. Imagine in an alternative universe - someone rocks up and offers £5 million for the club - who gets the money in the current business model?

2. In the same universe - same £5 million - who gets the money in the Fan Ownership model (assuming everyone agrees to sell)?

[Dick Dastardly]

34 minutes ago, joekea said:

1. Imagine in an alternative universe - someone rocks up and offers £5 million for the club - who gets the money in the current business model?

2. In the same universe - same £5 million - who gets the money in the Fan Ownership model (assuming everyone agrees to sell)?

I could be wrong, but scenario 1 the bid would be rejected. 3BC hold the shares, but are under obligation to transfer the shares to Fan Ownership, until there is a point when fans don’t want it (no idea what happens then)

Second would be split between all of the members of the fans trust.

[javeajag]

TJF posted this on Twitter….
 

Thanks for all the feedback and responses to Friday’s update. For those offering help we will make direct contact with you, thanks for everyone’s continuing support. There were also some common queries that we would like to clarify below.

Will the Jags Foundation be carrying out an independent Due Diligence process?

We asked for and were denied a formal process of Due Diligence. The view expressed was that this is not appropriate as the shares are being gifted, and that the information sharing process described in the joint statement should suffice. We know that this is not a view that we all agree with but, equally, we do not wish to walk away from this process. We are happy to acknowledge that this is a challenging situation for us.

Did the Foundation specify a Question & Answer rather than Independent Professional Due Diligence or did that come from the Club/3BC?

We did pose some financial questions at the meeting held last week.  These were based on information already in the public domain.  Responses were given, and the Q&A approach was suggested by the TJF representatives as a means of covering more ground than we were able to do in the time available.

Is June still the anticipated timeline for the transfer of shares?

Given where we are at this point in time, we think a June transfer will be unlikely.  

Will the AGM happen in April?

We decided to defer the Annual General Meeting until we have been able to publish the results of the Q&A.  We believe it will give any fans considering putting themselves forward as candidates a better picture of the future.

There is no mention of the resignations that have happened this week.

Stuart Callison resigned this week as he felt that there were too many barriers to his aspirations for fan ownership.  Between late 2021 and more recently, Sandy Fyfe and Tom Hosie have also stepped back from the board.  We have also welcomed new faces who have expressed an interest in being actively involved and will continue to do so.

[sandy]

So no Due Diligence, 3 resignations, delay in share transfer.  TJF seems to have got stuck in the muddy quagmire of Firhill. 
 

Doesn’t inspire confidence. 

[jaggymct]

I feel there are positives to take from this. 
While the lack of due diligence is negative it’s not because TJF do not think it was necessary.

Any transfer of shares will be after this financial year, and if June was the proposed   date then they always were going to be.  This means there will be a full year accounts post Covid , hopefully these will be less worrying to some than the last 2.

[Norgethistle]

54 minutes ago, javeajag said:

TJF posted this on Twitter….
 

Thanks for all the feedback and responses to Friday’s update. For those offering help we will make direct contact with you, thanks for everyone’s continuing support. There were also some common queries that we would like to clarify below.

Will the Jags Foundation be carrying out an independent Due Diligence process?

We asked for and were denied a formal process of Due Diligence. The view expressed was that this is not appropriate as the shares are being gifted, and that the information sharing process described in the joint statement should suffice. We know that this is not a view that we all agree with but, equally, we do not wish to walk away from this process. We are happy to acknowledge that this is a challenging situation for us.

Did the Foundation specify a Question & Answer rather than Independent Professional Due Diligence or did that come from the Club/3BC?

We did pose some financial questions at the meeting held last week.  These were based on information already in the public domain.  Responses were given, and the Q&A approach was suggested by the TJF representatives as a means of covering more ground than we were able to do in the time available.

Is June still the anticipated timeline for the transfer of shares?

Given where we are at this point in time, we think a June transfer will be unlikely.  

Will the AGM happen in April?

We decided to defer the Annual General Meeting until we have been able to publish the results of the Q&A.  We believe it will give any fans considering putting themselves forward as candidates a better picture of the future.

There is no mention of the resignations that have happened this week.

Stuart Callison resigned this week as he felt that there were too many barriers to his aspirations for fan ownership.  Between late 2021 and more recently, Sandy Fyfe and Tom Hosie have also stepped back from the board.  We have also welcomed new faces who have expressed an interest in being actively involved and will continue to do so.

So 3BC have denied (refused) due diligence. So what exactly are they trying to hide

[Woodstock Jag]

This is your periodical reminder that, whereas the Club owned half of Firhill Developments Limited (the company that owned the Main Stand and Bing) those two pieces of land are now, and still, entirely owned by Three Black Cats, despite a promise having been made that they would be in the full ownership of the Club by late November 2019.

Edited March 27, 2022 by Woodstock Jag