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New Chairman announced...


jagfox
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Does anyone know anything about MBM Board Nominees, the other listed director of 3BC apart from Low.  Companies House list 3BC as the sole director of MBM Board Nominees.  All a bit circular.

Low has no directorships other than 3BC according to Companies House.

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22 minutes ago, eljaggo said:

Does anyone know anything about MBM Board Nominees, the other listed director of 3BC apart from Low.  Companies House list 3BC as the sole director of MBM Board Nominees.  All a bit circular.

Low has no directorships other than 3BC according to Companies House.

Yes she has. But using full name and/or different  director numbers

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45 minutes ago, Dick Dastardly said:

I'm not sure what you expect (not want) it to say. If one is issued it will be either "We have our £XXX thankyou" (but ommit that we gave it to McCall who spunked it on players more shit than the shit he released) or it will say "We ****ed up and are working to put it right". The actual statement would be more bland and more wordy.

What I do think is that the club, and all parties, would have had legal and financial advice and these people will have had access to more info than you or I ever will and will assure that it is all above board, if only for the sake of their professional careers. I also believe that there is a will by all parties to complete the transfer of propco assets and to put the club into fan ownership. I do not believe that there is some sort of Machiavellian plot to destroy Partick Thistle FC. 

But then again, perhaps some posters would like a bland statement so that they can nit pick over every word to find the worst possible interpretation of anything anyone says. I'm not ready to give up on it yet, but this forum has become a very unpleasant place to be with an almost total lack of humour and no goodwill or ability to take words at face value. There is a clear vendetta against those who have or have held positions of power within the club (not just Low) and a coercion to belittle any poster who doesn't believe in their conspiracy theories (I have no doubt that I will now be the brunt of that)

As for McCall being undermined by those tweets, if he is then he is way too insecure to be a decent football manager (which he isn't)

Wether McCall is decent or not is open to debate, but your chairman publicly undermining you is not a good look. She has shown how crass she is.

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6 hours ago, Jaggernaut said:

Thanks for the clarification.

Another naive question: If somebody dies, unless there's a will that specifies otherwise, do shares held in PTFC automatically go to the deceased's relatives, as happens with other items of the estate?

It isn’t “automatic” no. They are held by the executors of the deceased for the benefit of the estate. In the absence of specific instructions as to whom they should be bequeathed they form part of the intestate estate and the *value* is distributed, as with any other asset. That doesn’t mean specific people are entitled “to the shares” but if a family member does receive the shares that counts towards their legal entitlement under the succession laws.

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1 hour ago, Dick Dastardly said:

I'm not sure what you expect (not want) it to say. If one is issued it will be either "We have our £XXX thankyou" (but ommit that we gave it to McCall who spunked it on players more shit than the shit he released) or it will say "We ****ed up and are working to put it right". The actual statement would be more bland and more wordy.

What I do think is that the club, and all parties, would have had legal and financial advice and these people will have had access to more info than you or I ever will and will assure that it is all above board, if only for the sake of their professional careers. I also believe that there is a will by all parties to complete the transfer of propco assets and to put the club into fan ownership. I do not believe that there is some sort of Machiavellian plot to destroy Partick Thistle FC. 

But then again, perhaps some posters would like a bland statement so that they can nit pick over every word to find the worst possible interpretation of anything anyone says. I'm not ready to give up on it yet, but this forum has become a very unpleasant place to be with an almost total lack of humour and no goodwill or ability to take words at face value. There is a clear vendetta against those who have or have held positions of power within the club (not just Low) and a coercion to belittle any poster who doesn't believe in their conspiracy theories (I have no doubt that I will now be the brunt of that)

As for McCall being undermined by those tweets, if he is then he is way too insecure to be a decent football manager (which he isn't)

One of two statements would do:

”The Club understands that Firhill Developments Limited is likely to make a distribution of its cash assets very soon and as a shareholder in FDL the Club anticipates that it will be a recipient of a dividend in line with the Company’s Articles of Association.”

Or

”Because of how the deal to acquire the land was structured, it has been agreed that the Club will not retain (all/some of) any distribution made by Firhill Developments Limited. It will instead receive the Bing and Main Stand in full and in lieu of that distribution once Three Black Cats and the Club have resolved certain tax issues associated with the deal.”

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6 hours ago, Jaggernaut said:

Thanks for the clarification.

Another naive question: If somebody dies, unless there's a will that specifies otherwise, do shares held in PTFC automatically go to the deceased's relatives, as happens with other items of the estate?

Shares are held by 3BC - 3BC were  100% owned by CW - so form part of Estate - they are included within it for purposes of the Will Settlement  - long way of saying - Yes   

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1 hour ago, Dick Dastardly said:

I'm not sure what you expect (not want) it to say. If one is issued it will be either "We have our £XXX thankyou" (but ommit that we gave it to McCall who spunked it on players more shit than the shit he released) or it will say "We ****ed up and are working to put it right". The actual statement would be more bland and more wordy.

What I do think is that the club, and all parties, would have had legal and financial advice and these people will have had access to more info than you or I ever will and will assure that it is all above board, if only for the sake of their professional careers. I also believe that there is a will by all parties to complete the transfer of propco assets and to put the club into fan ownership. I do not believe that there is some sort of Machiavellian plot to destroy Partick Thistle FC. 

But then again, perhaps some posters would like a bland statement so that they can nit pick over every word to find the worst possible interpretation of anything anyone says. I'm not ready to give up on it yet, but this forum has become a very unpleasant place to be with an almost total lack of humour and no goodwill or ability to take words at face value. There is a clear vendetta against those who have or have held positions of power within the club (not just Low) and a coercion to belittle any poster who doesn't believe in their conspiracy theories (I have no doubt that I will now be the brunt of that)

As for McCall being undermined by those tweets, if he is then he is way too insecure to be a decent football manager (which he isn't)

What they spend any income on is up to the Board - but we have a right to know the position of the Propco Investment 

and again - the Land  Transfer is unrelated to Propco - please stop attempting to link them together - Land Transfer is 3BC - may or may not happen - we have no control over it 

Propco is PTFC - we have 100% Control over it-  as to the position of the investment 

 

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1 hour ago, Jordanhill Jag said:

What they spend any income on is up to the Board - but we have a right to know the position of the Propco Investment 

and again - the Land  Transfer is unrelated to Propco - please stop attempting to link them together - Land Transfer is 3BC - may or may not happen - we have no control over it 

Propco is PTFC - we have 100% Control over it-  as to the position of the investment 

 

This isn't quite right Jim.

The Club is a (substantial) but (just) minority shareholder in PropCo. It cannot issue an instruction to wind-up PropCo or to insist a dividend is paid out.  If, for example, Beattie and the others wanted Firhill Developments Limited to reinvest the cash it now has, there is nothing in the Articles of Association to prevent them from doing so.

Come to think of it, it may well be the case that it is more tax efficient for them that the proceeds are distributed by way of dividends gradually, rather than in a single lump sum. But I'm not an accountant and I could be wrong about that.

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17 minutes ago, Woodstock Jag said:

This isn't quite right Jim.

The Club is a (substantial) but (just) minority shareholder in PropCo. It cannot issue an instruction to wind-up PropCo or to insist a dividend is paid out.  If, for example, Beattie and the others wanted Firhill Developments Limited to reinvest the cash it now has, there is nothing in the Articles of Association to prevent them from doing so.

Come to think of it, it may well be the case that it is more tax efficient for them that the proceeds are distributed by way of dividends gradually, rather than in a single lump sum. But I'm not an accountant and I could be wrong about that.

Are you a lawyer or just very good at understanding all this shit?

Not being faceitous  - genuine question.

 

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2 hours ago, Jordanhill Jag said:

What they spend any income on is up to the Board - but we have a right to know the position of the Propco Investment 

and again - the Land  Transfer is unrelated to Propco - please stop attempting to link them together - Land Transfer is 3BC - may or may not happen - we have no control over it 

Propco is PTFC - we have 100% Control over it-  as to the position of the investment 

 

I’m not sure we have a ‘right’ to know but it would be helpful and sensible  all round for more information on the outlines of the transaction 

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Don't tell Low for heavens sake, or we'll never see a fan owned club.

Rangers, before their little spot of bother, were buying or about to buy Carlisle United, as a trojan horse to give them an entry into the English leagues.  That was more about giving priority to their would be English operation and using the Scottish leagues for a reserve team.

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6 hours ago, eljaggo said:

Don't tell Low for heavens sake, or we'll never see a fan owned club.

Rangers, before their little spot of bother, were buying or about to buy Carlisle United, as a trojan horse to give them an entry into the English leagues.  That was more about giving priority to their would be English operation and using the Scottish leagues for a reserve team.

I’d sponsor their departure 

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