Today SMiSA has released a statement, and placed an advert in the Paisley Daily Express newspaper relating to the purchase of existing shares in St Mirren Football Club Ltd. Below are the details of both the advert, and the statement:
Advert:
S.M.I.S.A. – St. Mirren Supporters Trust – has funds available to acquire shares from existing shareholders in St. Mirren F.C. Ltd. Details of the Trust can be found on its website at www.smisa.net all enquires welcomed on line or email [email protected] or txt or call 0759 616 5194 and someone will contact you to discuss.
Alternatively if any shareholder wishes to retain their shares but would consider granting their proxy vote to the Supporters Trust please also use the above contact details.
Statement:
S.M.I.S.A. – St. Mirren Supporters Trust – is a non profit making concern incorporated on 26 June, 2003 as an industrial and provident Society registered under The Financial Services Authority.
The trust has fulfilled a number of roles in its 10 years of existence principally: -
- Communicating with the club on fan issues.
- Fund raising for the football club.
- organisation of events bringing fans and players together.
- Building a shareholding in St. Mirren F.C. Ltd. funded by members subscriptions.
The trust has contributed well in excess of £100K to the club by way of purchase of shares, loans and donations over 12 years. These funds have been raised in the main from members monthly subscriptions. The membership comprises Saints Supporters who have chosen to do a bit extra for the club over and above their expenditure on attending matches and purchasing club merchandise. The most recent contribution was the sum of £50K to enable the construction of the air dome to proceed.
In the past, the trust has acquired shares directly from the football club but this avenue is no longer available and the trust members have voted to use their funds to buy shares from other shareholders.
Trust members are disappointed that their funds will not go for the benefit of the club as originally intended but they consider it vital at this time to look to maximise their shareholding in the club.
The current attempt by 5 shareholders to establish and sell a majority shareholding thereby creating a new single owner of the club will eliminate any influence on the affairs of our community football club by the remaining minority shareholders who own some 48% of the shares in the club but are not represented on the board. It is the aim of the trust to ensure that St. Mirren remains truly a community football club and avoids the fate which has befallen so many other clubs with single owners.
The trust is aware that there are several hundred shareholders in the club many of whom may have acquired the shares through inheritance for example and have no allegiance or indeed interest in St. Mirren. The trust is giving them the opportunity to dispose of these shares safe in the knowledge that they are passing into the hands of a long established properly constituted trust which is required to hold the shares in perpetuity and is prevented from disposing of them by its trust deed.
The trust currently holds 3877 shares in St. Mirren Football Club Ltd.