Investment Offer for Club

28 May

We have received an investment offer for the Club from the consortium headed by John Neill and Colin Rowley.  The Board met yesterday to discuss the offer and identified a number of queries that we would like the consortium to address before we distribute the offer to members for consideration.

We plan to do this by the end of this week.  Once we receive clarification on the points raised, we hope to be able to issue a draft timetable for the subsequent assessment of the investment offer including a consultation period for members, a period of legal due diligence and a means of ensuring that as many members as possible are able to have a say on what may be a critical point in the history of our club.

We are committed to ensuring that we communicate with our members in a way that ensures that as much information as possible is presented in an accessible format to ensure that we can all feel comfortable in reaching a decision that is best for our club.

We sent out an email to all members yesterday.  If you are a member and didn’t receive the email then please check your junk email/spam folders.  If you still can’t find any email from us then please get in touch using the contact form on our website at https://safctrust.com/contact-us/ or email us at info@safctrust.com 

10 Replies to “Investment Offer for Club

  1. Hi Stuart,

    The consortium is made up of:
    John Neill & Colin Rowley

    These are the two people heading up the Consortium.
    They are working closely with June Walker, Susie Fraser & Derek Hamill. Together they make up the current team working to combine expertise to drive the club forward.

    However, to confirm the two people heading up this bid are solely John Neill & Colin Rowley.

    • Thanks John,

      Could you also confirm the expertise and roles of June Walker, Susie Fraser and Derek Hamill , in the current consortium.

      Thanks,

      Stuart

      • Evening Stuart,

        June Walker is a hugely experienced lady, coming from a background in finance, and sitting as CEO of Glasgow Credit Union (one of the largest Industrial & provident societies in Europe) for over 5 months. The current Trust, is exactly the same type of society, which links her expertise well in this role.

        Susie Fraser is a marketing and communications expert. She has worked in this field, with many successful business’ & newspapers, for a number of years, with huge success.
        Recently Susie was a top advisor for Scottish Woman’s football. In this role she raised the profile for woman’s football, and raised a huge amount of sponsorship & funding for the game

        Derek Hamill is one of the country’s top solicitors, with Gilson Gray, based in Glasgow.
        He was the man behind the St Mirren, fans ownership deal, and is using his wealth of knowledge in this field, to form an agreement that works for the club, trust and ourselves, in this situation.

        The ongoing roles in the consortium, are yet to be determined, as we will need to take stock of the current situation once all the finer details are revealed. This will be after a decision is made by the Trust, and if successful, we will evaluate exactly what is required at the club, and fill the club board with the expertise & roles, accordingly.

        Regards
        John

  2. I presume both the Trust and Club Boards will be appointing solicitors and accountants to examine any bid made for the club. This should ensure that any bid is in the best interest of Trust and Club Boards and shareholders.

    • Absolutely.
      The vote will be to determine if the members want this offer to be accepted, but on the premise of due diligence being carried out by the Trust & club solicitors, and an examination to ensure the summary and formal agreement is as explained and presented to the vote.

      It is up to the Trust members to vote whichever way they feel is in the best interest of the club, as owners, it is their responsibility to make that decision, based on our presentation.

      It will then be the solicitors job, to take that vote, presentation, offer & summary, and ensure it does what we say it does. This will ensure that it is legally correct, matches the presented offer & summary, and there are no “hidden traps” or questionable sections within the formal agreement.

      • Would someone from the Trust please give a reply to my question?

        “We sent out an email to all members yesterday. If you are a member and didn’t receive the email then please check your junk email/spam folders. If you still can’t find any email from us then please get in touch using the contact form on our website.”
        Still not received this email.

  3. To SAFC Trust Board:

    John Neill has kindly detailed the very professional and experienced team involved in the preparation, submission and negotiation of the offer on behalf of the consortium to SAFTC trust and club.

    It would also be of interest to be advised directly by the Board of full details of the SAFC trust team which are currently evaluating and negotiating the latest offer received.

    Given the major effect that the result may have on both the Trust and the Club and in the interest of transparency and cooperation between the two, may we be informed directly by the club, as to the detailed support and advice being offered to the trust.

    Stuart Heaney

    • Hi Stuart – thanks for getting in touch. We’ll be sending out an update to members over the weekend (at least that is the current plan) covering all of the things you’ve mentioned so please just bear with us till we get things sorted out.

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