F P S share proposal

[jdfc]

Would you make me the reasonable offer of your house as a thank you for my support of, and investment into, the club over the past 56 years?

Didn't think so.

The shares have a value and to sell them at the £8,000 offered devalues them for all share holders not just the society.

Come on to f**k, how can you compare the two,

Do you not agree the yanks have saved our club, have gave the some decent cash injections, and with the old model we’d be shopping with the wife on a Saturday the way McDonald, Forbes and co were taken us.

DFCSS can sit with their A shares if they think they protect our club, they don’t need to be sitting with the other shares and thousands £’s in the bank, these people in my opinion are caught up on their own importance

[Deeranged]

Come on to f**k, how can you compare the two,

Do you not agree the yanks have saved our club, have gave the some decent cash injections, and with the old model we’d be shopping with the wife on a Saturday the way McDonald, Forbes and co were taken us.

DFCSS can sit with their A shares if they think they protect our club, they don’t need to be sitting with the other shares and thousands £’s in the bank, these people in my opinion are caught up on their own importance

Point is that if you have something of value you don't simply give it away as a favour.

We don't know what would have happened if FPS hadn't come in so to say they saved the club is a bit OTT given that we weren't actually in admin or threatened directly with closure at the time. I do agree however that they have improved the club and have put cash in through share purchase. Remember they bought those shares at £0.01 each so surely that's what they should be offering DFCSS?

I agree DFCSS don't need to be sitting on the 14,000,000 ordinary shares as they do nothing for them and selling them would still leave them as the second biggest shareholder. That is why as a DFCSS member I have told the society board that although I believe the £8,000 offer to be an insult if a more sensible offer came in I think they should consider it. I personally believe FPS should offer between 35% to 50% of the nominal value of the shares to save the time and expense of a share issue.

[islaydarkblue]

Come on to f**k, how can you compare the two,

Do you not agree the yanks have saved our club, have gave the some decent cash injections, and with the old model we’d be shopping with the wife on a Saturday the way McDonald, Forbes and co were taken us.

DFCSS can sit with their A shares if they think they protect our club, they don’t need to be sitting with the other shares and thousands £’s in the bank, these people in my opinion are caught up on their own importance

Whilst FPS have put some decent cash injections into the club they have also carried out a ‘debt for equity’ for every annual loss resulting in the devaluation in the value of every other shareholder in Dundee Football Club Limited shareholding.
FPS are currently charging 1% interest on all the loans which they have given whilst at the Dundee United Football Company Limited AGM attended by their shareholders which was held last month the new owner has pledged to give United interest free unsecured loans. (Source Arab Trust website)
If you are/were a Dundee Football Club Limited shareholder with a hypothetical shareholding of 40,000 shares would you be happy to receive a cheque for £22.84 for your hypothetical shareholding instead of its nominal value of £400.

[islaydarkblue]

Hi Islay. Harry made a mistake I think, it happens even to intelligent guys like Harry. I did similar the other day on this thread when I said the shares' nominal value was £1. I don't make many mistakes but I did with that one.

Out of interest would you agree with me that if a proper offer of say 35% to 50% was made this would possibly be more palatable to us DFCSS members? For me it would represent not only a bargain for FPS but a reasonable and much less insulting offer to the society members, non member fans and all other shareholders. In my opinion at least it is more likely to be accepted than £8,000.

Hi Deeranged.
I believe that a mutually agreeable price based on a share price of 1.35p per Ordinary share should be negotiated but as a DFCSS member I would never accept a price which was 5.71% of the nominal 1p per Ordinary share.

[jdfc]

Whilst FPS have put some decent cash injections into the club they have also carried out a ‘debt for equity’ for every annual loss resulting in the devaluation in the value of every other shareholder in Dundee Football Club Limited shareholding.
FPS are currently charging 1% interest on all the loans which they have given whilst at the Dundee United Football Company Limited AGM attended by their shareholders which was held last month the new owner has pledged to give United interest free unsecured loans. (Source Arab Trust website)
If you are/were a Dundee Football Club Limited shareholder with a hypothetical shareholding of 40,000 shares would you be happy to receive a cheque for £22.84 for your hypothetical shareholding instead of its nominal value of £400.

I think you have to remember DFCSSisnt an individual, it isn’t their shares it money, it belongs to the fans who put the money in, wether they are still members or not, that’s my opinion

[islaydarkblue]

I think you have to remember DFCSSisnt an individual, it isn’t their shares it money, it belongs to the fans who put the money in, wether they are still members or not, that’s my opinion

Please just answer the question. If you hypothetically owned 40,000 Dundee Football Club Limited shares would you sell them to FPS for £22.84 instead of their 1p per share price equating to £400.

[islaydarkblue]

I think you have to remember DFCSSisnt an individual, it isn’t their shares it money, it belongs to the fans who put the money in, wether they are still members or not, that’s my opinion

Are you aware of the laid down rules of DFCSS. What happens to the assets. Are they divided amongst the members.
I look forward to your answer.

[Returnofrros]

Are you aware of the laid down rules of DFCSS. What happens to the assets. Are they divided amongst the members.
I look forward to your answer.

I'd guess, just a guess mind given dfcss history that it wud be dispersed among ump**** different charities that probably have chief executives earning 6 figure salaries.

[islaydarkblue]

I'd guess, just a guess mind given dfcss history that it wud be dispersed among ump**** different charities that probably have chief executives earning 6 figure salaries.

There are laid down rules which you can read for yourself on the DFCSS website. On thing is certain it is not split equally amongst the members.

[Deeranged]

No individual member of DFCSS is entitled to a share in DFC. Membership of the society entitles you to one share in the society and it is the society, headed by its elected officials, which holds the shares rather than its members. Even the elected officials can't claim ownership of the shares although some would have you believe that getting those shares into their personal ownership is all they're in it for.

In the event that DFCSS should dissolve there are rules governing how the shares can be transferred which I can't be bothered looking up the details of but essentially it's a legal requirement (Grrrr that darned FCA again Tannadice Grrrr) that they must be transferred to a similar organisation with similar aims.

Reality is that once you voluntarily put money into somebody or something then that money becomes the individual's or organisation's and they can use it in any way they see fit. You can't go back five years down the line and claim that the property or the assets purchased using your donated cash is in fact still yours.

So unfortunately JDFC your opinion that the money used to buy the shares, and by default therefore shares themselves, belongs to the fans that put the money in has absolutely no foundation in either law or fact.