F P S share proposal

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Originally Posted by Derry

Not quite true tho... protections can be used, but it would likely require legal process to do so

Share holders agreement would provide more protection, still require a legal process but a bit more robust IMO, however it then becomes and agreement between D4L & FPS rather than the current D4L & DFC

So when/if FPS move on, the protections go with them, not sure it is worth that trade

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Even more concerning

my reading of the club statement re the shares was that FPS said that they wernt interested in the A shares now, hence them trying to get the ordinary shares for £8000 instead of the £140,000 or so that it would cost anyone else,i think the term was a very generous offer cause dfcss had said in their accounts that original value was £1 for the shares(i dont know about that tbh)
jeez thats like saying you bought your house 30 years ago for 80,000 done xyand z to it extension etc so we will offer you £82000 for it now

re Nelms i really think the man should bury the apparent grudges he holds against some people and start running the club professionally,think he needs to wipe the slate clean in quite a few areas and start on a fresh footing for the full benefit of the club

a Q+A for all fans at a venue with a large capacity like the Gardyne would be a great start

Quote:

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Originally Posted by Derry

Not quite true tho... protections can be used, but it would likely require legal process to do so

Share holders agreement would provide more protection, still require a legal process but a bit more robust IMO, however it then becomes and agreement between D4L & FPS rather than the current D4L & DFC

So when/if FPS move on, the protections go with them, not sure it is worth that trade

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Protections contained within DFC Ltd articles would be worthless in the event of a merger as DFC Ltd would be wound up in favour of a new company or using DUFC ltd since it would be a move to Tannadice or a new stadium. I'm sure a shareholders agreement could attach to the shares rather than the people holding them, as long as everyone is on the same side. Obviously that's not the case with DFCSS being as uncooperative with FPS now as they were in 2013. Not surprising given it's the same individuals on both sides.

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Originally Posted by shaded

my reading of the club statement re the shares was that FPS said that they wernt interested in the A shares now, hence them trying to get the ordinary shares for £8000 instead of the £140,000 or so that it would cost anyone else,i think the term was a very generous offer cause dfcss had said in their accounts that original value was £1 for the shares(i dont know about that tbh)
jeez thats like saying you bought your house 30 years ago for 80,000 done xyand z to it extension etc so we will offer you £82000 for it now

re Nelms i really think the man should bury the apparent grudges he holds against some people and start running the club professionally,think he needs to wipe the slate clean in quite a few areas and start on a fresh footing for the full benefit of the club

a Q+A for all fans at a venue with a large capacity like the Gardyne would be a great start

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Losing Bill Colvin from FPS was the worst thing to happen IMO, he was always happy to speak with Society and was the reason their was a positive relationship when FPS came in, was a fresh team on the Society too (except DF) they revamped DFCTV, help fund ground improvements (Womans bog in Derry) etc Combination of Bill leaving & Spoofers poison ended that unfortunately.

I don't see any desire from FPS to hold Q&As and i dont see the need for a large room as most people are happy to watch the match and go home and remain ignorant to the governance (Count me in to that group) unless things are going tits up.

I think we need fresh leadership in the club but i can't see Nelms leaving anytime soon or changing his approach

*BTW its Dayster - couldn't get back into original account

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Originally Posted by Taintedice

Protections contained within DFC Ltd articles would be worthless in the event of a merger as DFC Ltd would be wound up in favour of a new company or using DUFC ltd since it would be a move to Tannadice or a new stadium. I'm sure a shareholders agreement could attach to the shares rather than the people holding them, as long as everyone is on the same side. Obviously that's not the case with DFCSS being as uncooperative with FPS now as they were in 2013. Not surprising given it's the same individuals on both sides.

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That maybe true, was a key concern raised the D4L AGM when discussed - i hope the question was asked of the D4L solicitors. My understanding was that its only enforceable between the parties entered in the agreement - which is obviously concerning.

The rights are attached to the shares at the moment at least.

In both scenarios - protection on shares or shareholding agreement - there is no protection from the club being wound up

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Originally Posted by Derry

I actually think neither are lying - its been a bit of a mix up in words

From how i understand it FPS approached the Society to purchase the A-shares - the Society then went back and proposed that the conditions attached to the shares be transferred to a share holders agreement

So both are true in a way

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FPS said they discussed procuring the A Ordinary shares with DFCSS at a minuted meetingheld in 2017 I think it was; they have, to my knowledge, never offered this approved minute for review and the nugget DCT reporter wasn't clever enough to ask for it.

FPS lied.

Ooooh defamation

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Originally Posted by shaded

my reading of the club statement re the shares was that FPS said that they wernt interested in the A shares now, hence them trying to get the ordinary shares for £8000 instead of the £140,000 or so that it would cost anyone else,i think the term was a very generous offer cause dfcss had said in their accounts that original value was £1 for the shares(i dont know about that tbh)
jeez thats like saying you bought your house 30 years ago for 80,000 done xyand z to it extension etc so we will offer you £82000 for it now

re Nelms i really think the man should bury the apparent grudges he holds against some people and start running the club professionally,think he needs to wipe the slate clean in quite a few areas and start on a fresh footing for the full benefit of the club

a Q+A for all fans at a venue with a large capacity like the Gardyne would be a great start

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As far as the numbers go, £8000 for 14m shares implies that you would pay £114285.71 for the whole 200m shares if you applied the same price per share. Like the idea of a Q+A and would hope that the club would organise it. I don't think it would help if either DSA or DFCSS tried to organise it. As you say there needs to be a fresh start. My limited contact with John Nelms has always been that he creates a very favourable impression and I think there must be Dees who are advising him in his dealings with the fans and DFCSS and DSA. I can't understand why there is a perception that he holds grudges against some people. I agree that this is the image that he has and I am really puzzled by it. Think the club needs to work harder at their PR and if this isn't a job that JN feels comfortable dealing with then perhaps an official spokesman might help.

double post Doooh!

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Originally Posted by Derry

That maybe true, was a key concern raised the D4L AGM when discussed - i hope the question was asked of the D4L solicitors. My understanding was that its only enforceable between the parties entered in the agreement - which is obviously concerning.

The rights are attached to the shares at the moment at least.

In both scenarios - protection on shares or shareholding agreement - there is no protection from the club being wound up

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Last paragraph is what I expressed concern with a few days ago.

Merge or fold? Hopefully it's never put to Dfcss but there is a scenario where it cud be.