DFCSS Email - Purchase of Shares

[CW 90+3 02/05/16]

Some chilling suggestions in this thread as to what this means.

I and IMO, the majority of Dundee fans would be for a groundshare at Campy at the very most if it was the only viable option to get a new stadium which if you look at it logically, it obviously is.

Any sort of merger proposal and we riot (seriously).

[barkblue]

2 hours ago, Boba Fett said:

There’s absolutely no way the society should be selling those shares. 

Relax wording to facilitate a move to a new stadium - yes.

Everything else - no.

The offer of fannying about with the community trust if the shares are sold is laughable. “Giz yer shares and we’ll start speaking to ye”. Awful stuff from the club tbh.

Much more info required on why the shares are so desirable to FPS and even if that’s provided I doubt it would be compelling enough to change my view on it. 

Personally, I’m growing more and more disillusioned with our clubs leadership as each week passes. Handing over the authority to merge us with United is the last thing we should be doing.

I'm an intentionally lapsed Society member. However, I'm concerned by the motivation here.

In essence FPS/BOD have done everything within their power to compromise and marginalise DFCSS. They have basically made the Society's boardroom position a nonsense, killed their revenue stream and refused funding unless it's the way they want it and they can do whatever they choose with the money. That in itself is anything but a working relationship. 

Suddenly they are looking to build bridges and collaborate. DFCSS would be encouraged to play a major part in the club through fund raising. Funnily enough all things DFCSS wanted to do but were basically told not to bother. 

You'd imagine that both FPS and DFCSS want the best for the club and nearly everyone believes that would come from us playing at a new facility which has already been announced by the BOD. What DFCSS have is a veto, not an automatic blocking facility, so surely the board only need to ask DFCSS, 'would you be willing to waive that veto for the good of the club so we can build and play at the new facility?' DFCSS say yes and we move forward as is.

So what do we need to completely remove the veto for?

If it's to ground share at the new stadium with us as landlords and our lovely neighbours as tenets then, why don't they ask DFCSS to put that proposal to a vote? I'd reckon that if for nothing other than shits and giggles and bragging rights of "enjoy playing at the New Dens Park", and of course, income stream, you'd reckon that would pass a vote too if it allowed us to build and play at the new facility.

So, if that's the case, why is everything else up for grabs here too? 

Maybe i'm being ultra cautious here, but I'm not sure why this step needs to be taken. It nullifies the very reason the DFCSS was set up in the first place and if it doesn't pass it creates an obvious issue between FPS and the other major shareholder (the fans). That in itself surely cannot be a good thing?

I appreciate that this is DFCSS communicating with their membership, but as usual, the silence coming out of Dens is deafening and you'd hope that if both parties felt this was genuinely the best thing for the club, then they would have made a joint statement to make that more obvious to the members and support in general.

I am willing to be completely proved wrong, but I'd say that I'm concerned by this and the manner in which it has been communicated. 

[Prince Buster]

35 minutes ago, Dblair said:

This is what bothers me. So FPS will PAY for the shares and then allow the society back in the circle of trust, to what? Donate the aforementioned money back?! Is it that simple? 

Probably

[Cobra]

Some Dees, albeit a small minority, are in favour of a merger so it wouldn't be a huge surprise if Tim Keyes, a guy without a major emotional attachment to DFC, felt a merger was the way forward for the city.

And if you were going to merge the clubs the time to do it would be at the same time as the new stadium opening so I can't help wondering if FPS want to have that option available to them now as they press forward with the stadium plans and United continue to haemorrhage cash in the Championship.

Maybe I'm being paranoid but we simply must cling on to that veto at all costs.

[Double Blue]

I trust Nelms and Keyes as much as I trust Trump. I wonder if Steve Martin trusts them?

[Prince Buster]

1 minute ago, Double Blue said:

 I wonder if Steve Martin trusts them?

[DarkBlueKnight]

55 minutes ago, Boba Fett said:

We’re merging with United... but I’ve managed to negotiate the removal of the hoses behind the Derry.

Where? Do you mean the stairway to heaven as Robert Islay plant would say?

[chomp my root]

5 minutes ago, Double Blue said:

I trust Nelms and Keyes as much as I trust Trump. I wonder if Steve Martin trusts them?

He's got form for distancing himself. Not that I blame him.

[Dayster]

Its an interesting proposal and could work - but impossible to tell until you have sight of the future legal agreement - imperative to know what it contains and how enforceable it is.

Also worth noting that there is no mention of article 80-82 in the email, those are the clauses that guarantee the supporters society 2 seats on the board - they only apply to the A share so would need to see something written into the articles to guarantee the continuation of that

Obviously we would need to know what the ££ offer is for the shares - assuming they will be at nominal value 1p that would be £150k - not bad reserve for the society should future requirements dictate

I guess this possible shows what the issue was with Steve Martin and FPS - If FPS plan to transfer there shares to DBPH as outlined - Stev isnt a director of that company - perhaps his contributions to FPS shares isnt big enough for him to stop it, so he loses out - just speculation but feel for him if that is the case

A for the club now promising to work with the Society - thats affy nice of them  considering the last 5 years and there complete reluctance to engage - they know this is obviously very tempting for the society directors as the fans/members see the society as pointless while they have no influence at Dens so to build the society again it opens the doors.... but at what price!

Will be armed and ready come Saturday with some questions, can see benefits either way

 

 

 

[BCram]

47 minutes ago, Dayster said:

Its an interesting proposal and could work - but impossible to tell until you have sight of the future legal agreement - imperative to know what it contains and how enforceable it is.

Also worth noting that there is no mention of article 80-82 in the email, those are the clauses that guarantee the supporters society 2 seats on the board - they only apply to the A share so would need to see something written into the articles to guarantee the continuation of that

Obviously we would need to know what the ££ offer is for the shares - assuming they will be at nominal value 1p that would be £150k - not bad reserve for the society should future requirements dictate

I guess this possible shows what the issue was with Steve Martin and FPS - If FPS plan to transfer there shares to DBPH as outlined - Stev isnt a director of that company - perhaps his contributions to FPS shares isnt big enough for him to stop it, so he loses out - just speculation but feel for him if that is the case

A for the club now promising to work with the Society - thats affy nice of them  considering the last 5 years and there complete reluctance to engage - they know this is obviously very tempting for the society directors as the fans/members see the society as pointless while they have no influence at Dens so to build the society again it opens the doors.... but at what price!

Will be armed and ready come Saturday with some questions, can see benefits either way

 

 

 

Had not picked up on the 2 directors Dayster. Excellent that you will be there. Main point should be to ask questions, but maybe not expect to get answers there on the day. I think those who will be involved should treat this as the first step by the DFCSS board in trying to ensure that they act in the best interests of DFCSS. The safeguards were put in there for good reasons which still seem to me to be valid. In America their football clubs can be moved from city to city as the franchises are sold, so you could understand why some of the safeguards are there.

As long as we ask the right questions, I think we will be able to help the board of DFCSS to take the right decisions. 

[Bobby123]

How do I know if I am a member of DFCSS?

[Prince Buster]

6 hours ago, Bobby123 said:

How do I know if I am a member of DFCSS?

It's a £5 annual subscription - have you paid it?