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DFCSS AGM


thegen65

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8 hours ago, Islaydarkblue said:

I am saying no more. 

You should have joined DFCSS prior to the meeting and you could have heard everything that was discussed for yourself.

This kind of attitude is why fans owned will never work for us, ever. Too many people, with a 'blazer/childish' attitude, 'your not part of the group so I'm not telling you'. When will people realise, we are ALL Dundee fans, whether you live in Dundee, London, New York, Sydney, Wick, wherever! We are all Dundee fans, no one is more important or less important. If you are part of DSA or DFCSS, it doesn't matter one little bit.  We have all equally saved our club twice, we have all put money into the club through various means, writing cheques to keep us going, going to home matches (ST or PATG), being a member or non member of one group, attending club events etc... 

I'm glad we never voted to keep us fans owned,  it was never working, we were a laughing stock of a club. Now we are far more professional, yes results are crap this season, but at least we are in the premiership and able to back our manager with funds each season, far better youth development too. Of course mistakes have been made, but there has been far more positives under FPS.

And due to this kind of attitude, I will not renew my membership of DFCSS and I can see why numbers are so low. (I know Islay, isn't speaking on behalf of DFCSS, but why the secrecy of the meeting). 

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8 hours ago, Islaydarkblue said:

I am saying no more. 

You should have joined DFCSS prior to the meeting and you could have heard everything that was discussed for yourself.

Thank goodness you are still living on Islay.  You have previously posted if you were living in Dundee then you would stand for election to the DFCSS board.

With that type of attitude i sincerely hope you are never voted on to the board if you return to Dundee,   and you wonder why members are dwindling????

 

 

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Am assuming the Islay hotel menu, the Islay transport system, bin collections and ferry times were all discussed and passed with a unanimous verdict and that’s why it was an excellent meeting. On that basis lads we will all sleep easy tonight now 😎

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2 minutes ago, Dayster said:

There was no secrecy to the meeting at all, if Islam doesn’t want to share details then that his call 🤷‍♂️

 

AGM itself was just usual sort of business 

The Q&A was completely focused on share issue - there will be a clarification email out in the coming days

 

my takeaways-

consultation was a incorrect as it states FPS desire is for 75%+ , it’s not its to amend the entrenched rights ( as they have no desire to purchase dfcss ordinary shares

- the entrenched rights have already been broken ie level of borrowing, but the only recourse society has is legal which is a road they would be reticent to go down

-A share holders agreement may give stronger rights but its a shareholder agreement, if the shares are shifted then it’s no longer valid - worry over long term protection 

-suggestion was that the veto need relaxed for funding of camperdown development - I don’t buy it, the club aren’t part of development that’s dark blue holdings so our rights have no bearing. Club just need to ask Society consent for stadium move that would be granted

General feel was that we are being asked to decide something without any detail or a firm proposal. FPS need to layout there long term plans and what the seek to do with change of rights (to all fans)

concensus was that there was no value in selling the A shares

Cheers R,   Can i ask what is the level or borrowing now or was that disclosed?   It used to be £50,000 is that correct?

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2 minutes ago, Thegen65 said:

Cheers R,   Can i ask what is the level or borrowing now or was that disclosed?   It used to be £50,000 is that correct?

Not something I’ve checked myself but was mentioned yesterday that there was 1m borrowing (from Tim Keyes ) in the last accounts - since been converted to shares 

 

technically he he could have bought the shares first as cash injection to avoid hitting the entrenched rights. I believe the can borrow over 50k if it’s classed as short term ie under a year

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9 minutes ago, Dayster said:

There was no secrecy to the meeting at all, if Islam doesn’t want to share details then that his call 🤷‍♂️

 

AGM itself was just usual sort of business 

The Q&A was completely focused on share issue - there will be a clarification email out in the coming days

 

my takeaways -

consultation was a incorrect as it states FPS desire is for 75%+ , it’s not its to amend the entrenched rights ( as they have no desire to purchase dfcss ordinary shares

- the entrenched rights have already been broken ie level of borrowing, but the only recourse society has is legal which is a road they would be unlikely to go down

-A share holders agreement may give stronger rights but its a shareholder agreement, if the shares are shifted then it’s no longer valid - worry over long term protection 

-suggestion was that the veto need relaxed for funding of camperdown development - I don’t buy it, the club aren’t part of development that’s dark blue holdings so our rights have no bearing. Club just need to ask Society consent for stadium move that would be granted

General feel was that we are being asked to decide something without any detail or a firm proposal. FPS need to layout there long term plans and what the seek to do with change of rights (to all fans)

concensus was that there was no value in selling the A shares

Islay (or Islam 😉 ) Will be raging with you.

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1 minute ago, Dayster said:

Not something I’ve checked myself but was mentioned yesterday that there was 1m borrowing (from Tim Keyes ) in the last accounts - since been converted to shares 

 

technically he he could have bought the shares first as cash injection to avoid hitting the entrenched rights. I believe the can borrow over 50k if it’s classed as short term ie under a year

Cheers for the info fella.

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