TRVMP Posted April 29, 2019 Share Posted April 29, 2019 It's not a share issue as some have said but it's GC giving MCT 533,120 shares currently owned by GC in return for the £400k. £400k for 15% of the club works out at 75 pence a share. The nominal value of the shares is 25 pence and the most that's ever been paid for the shares, to my knowledge is 65 pence a share. That £400k will not, if I'm reading this correctly, go to GC or the Rae's but be put towards the running of the club in some form or other. Another way of looking at this is that Crawford is giving away 15% of the GC shares to save him subsidising the club to the tune of around £250k to £400k. Know I said I was done but can't let this pass without asking: If it's not a share issue why are MCT calling it a share issue over and over again? There are at least nine mentions of its being a share issue on the Q&A page alone (10 mentions of a share issue in general, but one is about a hypothetical future one.) Probably more elsewhere. Can you lot maybe get one single thing straight? edit: link to Q&A page - https://mortonclubtogether.com/QuestionAndAnswer.html Link to comment Share on other sites More sharing options...
DreamOakTree Posted April 29, 2019 Share Posted April 29, 2019 Sorry TRVMP, I was about to invest in this scheme till I saw your post. Should I wait for clarification of where my money would be going? Link to comment Share on other sites More sharing options...
TRVMP Posted April 29, 2019 Share Posted April 29, 2019 Sorry TRVMP, I was about to invest in this scheme till I saw your post. Should I wait for clarification of where my money would be going? I don't want to tell anyone else what to do. I've outlined my reasons for not supporting the movement in its current form. The people running it say they're going to continue to work on the details over the next six weeks. Speaking only for myself, they'll need to fix a huge amount for me to support it. But regardless of what you want to do, bear in mind they're not actually asking for money yet, just a pledge. So if you do want to support it by filling in the form on the site, it's non-binding and no money changes hands. Link to comment Share on other sites More sharing options...
HamCam Posted April 30, 2019 Share Posted April 30, 2019 First DDFR then Crawford suggested the debt would be wiped out and now it is only a possibility, if the fans contribute £400k to the bottomless pit that is Morton. While the intention to give the fans a say in the club, unless the proposal stands up to the most basic level of scrutiny it is doomed. Link to comment Share on other sites More sharing options...
RealTonKid Posted April 30, 2019 Share Posted April 30, 2019 Who are you? I admire your indefatigability. Link to comment Share on other sites More sharing options...
RealTonKid Posted April 30, 2019 Share Posted April 30, 2019 What's to say we invest £400k, and the CEO decides he wants another set of shan turnstiles in the away end? Link to comment Share on other sites More sharing options...
TRVMP Posted April 30, 2019 Share Posted April 30, 2019 What do you propose he does then? Im sure he'll head the advice. Just noticed this - I suggest he drafts an abbreviated or redacted version of the minutes, as the club requires, and let them have the final say over its contents. Then he should release that document to the supporters on the understanding that the document comes from Morton. That way he does what he actually said he was going to do, the club gets to put whatever spin it wants on it, and they fulfill the role of allowing him to liaise with the fans. If the club refuses to co-operate in this fashion, then I don't see why he needs to waste his time on them any further, as it's clear that they have no interest in helping him fulfill the role they wanted him for. Link to comment Share on other sites More sharing options...
TRVMP Posted April 30, 2019 Share Posted April 30, 2019 What's to say we invest £400k, and the CEO decides he wants another set of shan turnstiles in the away end? According to the Q&A the money would be earmarked for football matters and not capital improvements/maintenacne. Link to comment Share on other sites More sharing options...
RealTonKid Posted April 30, 2019 Share Posted April 30, 2019 According to the Q&A the money would be earmarked for football matters and not capital improvements/maintenacne. The Q&A on a ropey-looking website. This needs confirmation by Crawford and the club itself to ease investors' concerns. Link to comment Share on other sites More sharing options...
TRVMP Posted April 30, 2019 Share Posted April 30, 2019 The Q&A on a ropey-looking website. This needs confirmation by Crawford and the club itself to ease investors' concerns. I agree. I'm willing to take the site's claims at face value because I believe they are well-meaning, and to be fair to them they've said that they'll nail everything down over the coming weeks (and if the cash is forthcoming.) But that's their starting point. Link to comment Share on other sites More sharing options...
RealTonKid Posted April 30, 2019 Share Posted April 30, 2019 I agree. I'm willing to take the site's claims at face value because I believe they are well-meaning, and to be fair to them they've said that they'll nail everything down over the coming weeks (and if the cash is forthcoming.) But that's their starting point. I'd like to think so, but if you give an investor a chance not to invest, they won't. The website should have been nailed down from day dot. I think if Mr McLennan and Mr Rae were to work together to alleviate investors' concerns by a functional website and a club statement, then they may achieve their £400k target far quicker. Link to comment Share on other sites More sharing options...
TRVMP Posted April 30, 2019 Share Posted April 30, 2019 I'd like to think so, but if you give an investor a chance not to invest, they won't. The website should have been nailed down from day dot. I think if Mr McLennan and Mr Rae were to work together to alleviate investors' concerns by a functional website and a club statement, then they may achieve their £400k target far quicker. I've written screeds about how the website and proposal, as they stand, are both complete fucking jokes, so needless to say I agree. This could really have done with another few weeks of preparation. But the clock is still running and there's still time to turn it around. Link to comment Share on other sites More sharing options...
Malt Posted April 30, 2019 Share Posted April 30, 2019 We invest 400k but we lose 300-350k a season at present. Link to comment Share on other sites More sharing options...
Malt Posted April 30, 2019 Share Posted April 30, 2019 I think it may be Andy Morrison who has pulled it together but reading the articles there are a few contradictions and a lot of clarity required We need a plan B though as Crawford wants his Boarding Pass to depart and if this fails...what do we do? Link to comment Share on other sites More sharing options...
irnbru Posted April 30, 2019 Share Posted April 30, 2019 I think it may be Andy Morrison who has pulled it together but reading the articles there are a few contradictions and a lot of clarity required We need a plan B though as Crawford wants his Boarding Pass to depart and if this fails...what do we do? Why don't you put your neck on the line and do something like the guy organising MCT has done? Link to comment Share on other sites More sharing options...
port-ton Posted April 30, 2019 Share Posted April 30, 2019 I'm confused, why wouldn't the club want minutes for a meeting they organised in order to be more transparent with the fans to see the light of day? If I'd know it was a cloak and daggers meeting of secrecy I'd have made more effort to attend. Good people will do good things, bad people will do bad things, but only with religion do good people do bad things! Link to comment Share on other sites More sharing options...
port-ton Posted April 30, 2019 Share Posted April 30, 2019 Why don't you put your neck on the line and do something like the guy organising MCT has done? Bad times when the " you do something" defence is broken out already. People are being asked to part with their money. The people asking for the money need to be held accountable in order for people to part with their money. It's them that want our money so morton fans don't need to do anything ourselves to prove we can do it better. Good people will do good things, bad people will do bad things, but only with religion do good people do bad things! Link to comment Share on other sites More sharing options...
TONofmemories Posted April 30, 2019 Share Posted April 30, 2019 Just noticed this - I suggest he drafts an abbreviated or redacted version of the minutes, as the club requires, and let them have the final say over its contents. Then he should release that document to the supporters on the understanding that the document comes from Morton. That way he does what he actually said he was going to do, the club gets to put whatever spin it wants on it, and they fulfill the role of allowing him to liaise with the fans. If the club refuses to co-operate in this fashion, then I don't see why he needs to waste his time on them any further, as it's clear that they have no interest in helping him fulfill the role they wanted him for. The minutes have been drafted as he said he'd do. He was told not to release as Crawford said he was happy enough people where at the meeting and heard what was said. Your last paragraph is for the SLO himself to decide. I certainly agree. TIME FOR CHANGE! Link to comment Share on other sites More sharing options...
TONofmemories Posted April 30, 2019 Share Posted April 30, 2019 Yet more evidence that we're continuously treated with disdain. TIME FOR CHANGE! Link to comment Share on other sites More sharing options...
port-ton Posted April 30, 2019 Share Posted April 30, 2019 The minutes have been drafted as he said he'd do. He was told not to release as Crawford said he was happy enough people where at the meeting and heard what was said. Your last paragraph is for the SLO himself to decide. I certainly agree. That is one of the most pathetic things I've ever heard. The SLO promised minutes of the meeting beforehand which is a reasonable thing to say you'll do without needing to get the clubs approval, but by denying him the chance to release them you're making him look a mug and a liar while providing shoddy customer service yet again. Surely if you're the board you'd want the details of the meeting you've set up to try clear the air to reach as many fans as possible. Some of the decisions this board makes is so bizarre. It's like they actively dislike making money by treating their main source of income like pieces of dirt on their shoes. Good people will do good things, bad people will do bad things, but only with religion do good people do bad things! Link to comment Share on other sites More sharing options...
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