F P S share proposal

[Returnofrros]

“ Having set a fundraising target of £250,000 the money raised by supporters exceeded this figure, as a result, the Club survived and the Society took control of a majority shareholding.”

That’s simply not true.

It's important you keep posting this h......very important.

History can become vague and lies become truths through the passage of time.

[islaydarkblue]

Neither does offering 8 grand for 140k worth of shares...

It was £8,000 for 14 Million Ordinary shares.

[hmac]

It's important you keep posting this h......very important.

History can become vague and lies become truths through the passage of time.

My reality in this was that dfcss paid 150k only for approx 54% of the shares sometime in February pending any CVA appeals process. In the days preceding this they only had 120k and an individual gave the last 30k to make it happen.

[Returnofrros]

My reality in this was that dfcss paid 150k only for approx 54% of the shares sometime in February pending any CVA appeals process. In the days preceding this they only had 120k and an individual gave the last 30k to make it happen.

120k!!!! Not even 50% of what's claimed and seeping into the history books as truth. Tut tut

[Returnofrros]

My reality in this was that dfcss paid 150k only for approx 54% of the shares sometime in February pending any CVA appeals process. In the days preceding this they only had 120k and an individual gave the last 30k to make it happen.

Just for clarification are you a dfcss'er hater?😃

[hmac]

Just for clarification are you a dfcss'er hater?😃

No I think dee4life as was, was great. They got carried away later, with one or two non dee4life guys running the show.

But I am adamant 150k was the number not 250k. They can of course just correct me if I’m wrong.

If my memory is correct they then put in around 70k after July but that was a donation resulting from their then running of dfctv, joint venture with DFC and prior to admin. I think their profit in that time from dfctv was approx 55k which was decent.

Maybe Islay can check k my numbers against some official dfcss documents?

[jdfc]

The club claim they are only worth what someone is willing to pay,the society say they are worth whatever price they are willing to sell at.

I would say that the club is not only devaluing the shares,but also the efforts of anyone who put money in a bucket,or raised money in any way to enable the society to buy those shares.

I like many put plenty into buckets etc, but it wasn’t for a few to hold the club to ransom, it was meant to go straight to the club

[Deeranged]

I like many put plenty into buckets etc, but it wasn’t for a few to hold the club to ransom, it was meant to go straight to the club

I, like you and others, put plenty into the club at the time and it was to secure the club a future not for its owners to squander away as previous incumbents had. DFCSS put some of that money into shares so that they could always have a foothold of some description. FPS want those shares now for a fraction of what was paid on our behalf for them to help FPS not to help Dundee FC or its fans.

Back then regardless of the actual sum raised by collections and donations we, as a group of fans, helped secure a future for the club and now the few are trying to hold onto what was procured or to realise the value of it. Scary thing is they've even offered to put that value straight back into the club but still got snubbed. Why?

[hmac]

I, like you and others, put plenty into the club at the time and it was to secure the club a future not for its owners to squander away as previous incumbents had. DFCSS put some of that money into shares so that they could always have a foothold of some description. FPS want those shares now for a fraction of what was paid on our behalf for them to help FPS not to help Dundee FC or its fans.

Back then regardless of the actual sum raised by collections and donations we, as a group of fans, helped secure a future for the club and now the few are trying to hold onto what was procured or to realise the value of it. Scary thing is they've even offered to put that value straight back into the club but still got snubbed. Why?

They had shares before admin 2. They had someone on the Club Board all the time after Admin 1.

You can’t just skip past the falseness of the history of it all with saying regardless, fact is the club wasn’t safer in the hands of the fans than it was with anyone else.

The biggest noose round the clubs neck today is the crazy stadium rent deal negotiated solely by DFCSS chairman Stuart Murphy.

Maybe FPS snub then today because they were fed up of how they were treated by DFCSS in the past....

[islaydarkblue]

No I think dee4life as was, was great. They got carried away later, with one or two non dee4life guys running the show.

But I am adamant 150k was the number not 250k. They can of course just correct me if I’m wrong.

If my memory is correct they then put in around 70k after July but that was a donation resulting from their then running of dfctv, joint venture with DFC and prior to admin. I think their profit in that time from dfctv was approx 55k which was decent.

Maybe Islay can check k my numbers against some official dfcss documents?

Hi hmac,
I noticed your original post earlier but as we have already been down this route I decided not to get involved. However as you have mentioned my name I will try to give you my ‘expert knowledge’. However the person who should be answering your questions is Bill Brewster who was the treasurer of DFCSS at the time we entered Admin 2 and you were Chief Executive of Dundee Football Club.
I do not know if Bill Brewster posts on this forum.
Unfortunately I do not have my ‘Memories’ book to hand but from what I can remember there was a piece about how Bill Brewster was delighted when the £150,000 was successfully transferred to the bank account of the Administrator’s firm.
I also remember reading that Stuart Murphy Chairman of DFCSS announced prior to the home game against Partick Thistle at the beginning of November 2010 that the amount raised had broken through the £100,000 barrier.
If this information is correct and I have no reason to doubt why have you posted that the society had raised only £120,000 up to a few days before the CVA meeting. There were various fund raising initiatives between the beginning of November 2010 and the end of January 2011 including the auction which from memory raised over £11,000 and donations from various Dundee Supporters Clubs.
As far as I am aware the money raised from the bucket collections went into the fundraising total which eventually reached its target of £250,000 to allow the club to exit Administration on 12th May 2011.
Are you now telling us that the society were forced to hand over some of the money raised by the fans to the club to pay for everyday expenses including wages and salaries.
I have previously read all the documents from October 2010 until 12th May 2011 regarding Admin 2 on the Companies House website and it makes very interesting reading (to me).
The Income and Expenditure Account shows that the club made a surplus during the period of Admin 2 of from memory just over £35,000 due to everything being ‘cut to the bone’.
However this is only thanks to there being £85,000 in the club’s bank account when we entered Admin 2 in October 2010. Without this £85,000 the club would have made a loss and we might never have exited administration.