10000Hours Update
Some time ago we let you know that we had just the one final hurdle to overcome to achieve the full funding of the C.I.C in order to push ahead with the purchase of the shares from the selling Consortium.
Unfortunately after many, many more weeks than anticipated we have not been able to get over this final hurdle.
However we have been working in the background to put together an alternative funding proposal for the 52% share purchase.
It has been agreed with the selling consortium that we will continue to explore this alternative.
However, in fairness to them, they will also explore other options to see if they meet their desire to secure the long term success of St Mirren.
We still believe that the Club owned and controlled by the fans and integrated into the community provides the best way to grow the Club and secure its future for the coming generations.
We therefore propose to have an open meeting for anyone to ask questions regarding the previous proposal and to discuss the way forward.
As we have said all along a Community Interest Company needs the Community to be Interested....if the Community still is interested then we believe we can still make this happen
We intend to hold the meeting on 30th of November (7pm) at St.Mirren Park, confirmation to follow.
Finally we do apologise for being quiet for the last while, this has been necessary during the final attempts to complete the deal.
Regards
10000hours team
Unfortunately after many, many more weeks than anticipated we have not been able to get over this final hurdle.
However we have been working in the background to put together an alternative funding proposal for the 52% share purchase.It has been agreed with the selling consortium that we will continue to explore this alternative.
However, in fairness to them, they will also explore other options to see if they meet their desire to secure the long term success of St Mirren.
We still believe that the Club owned and controlled by the fans and integrated into the community provides the best way to grow the Club and secure its future for the coming generations.
Over 800 individuals plus Community and Corporate organisations indicated their support for a fan controlled Community Interest Company to take ownership of the majority shareholding and while it is immensely disappointing to have got so close to completing the purchase, the opportunity still exists.
We therefore propose to have an open meeting for anyone to ask questions regarding the previous proposal and to discuss the way forward.
As we have said all along a Community Interest Company needs the Community to be Interested....if the Community still is interested then we believe we can still make this happen
We intend to hold the meeting on 30th of November (7pm) at St.Mirren Park, confirmation to follow.
Finally we do apologise for being quiet for the last while, this has been necessary during the final attempts to complete the deal.
Regards
10000hours team
