Greacen2000

I’m no expert either but in my (limited) understanding of the situation, I think article 29 might offer some limited protection insofar as they would need to offer any newly issued shares to MCT before transferring them to anyone else. Still not ideal, and it would seem that if MCT weren’t in a position to buy said shares within 14 days then they could potentially be sold to another party but again - I’m no expert so could be totally wrong here. This is exactly one of the questions I have put to MCT on the deal

This is exactly why I’ve suggested that the current poll should be closed & discarded until such time as they have answered people’s questions & shared more details of the deal. It’s totally unreasonable and undemocratic to ask people to vote on such an important matter when they have been so selective in what details are disclosed. Call me a cynic but it also feels like they are hoping that enough Yes votes will already have been cast by Jun 2nd that they will be able to tell the EGM that they are proceeding regardless of what questions or concerns people have. It absolutely stinks

That is absolutely shocking Gordon. It’s my understanding that the EGM was initiated with the purpose of holding certain board members to account, yet we now find ourselves in a position where the agenda has been hijacked by these self-appointed individuals and will be used solely in an attempt to get these proposals past the unsuspecting MCT membership. Is there any mechanism for members to force these important issues onto the agenda, and if not, do you think there would be any chance of putting forward a vote of no confidence on the night if enough in attendance supported it?

I’ve set up this petition. Honestly, I’m not even sure if this is the right thing to do at this stage, but with facts thin on the ground, shambolic communications coming from MCT & more questions than answers, I though this might at least serve as a way of putting a bit of power back in the hands of MCT members without having to wait another 2 weeks. I won’t be trying to convince anyone to sign it, and feel free to red dot me if you think this isn’t appropriate. I’m just putting it out there to see if it sinks or swims https://chng.it/bzcHLsQmm2 Edit - if anyone else thinks they have a better idea and wants to put together their own petition, I will take this down as the last thing we need is different ones competing against each other. Likewise if i get feedback on here suggesting that most people think the petition is a bad move then i will take it down.

Just recieved from MCT. Reading between the lines it would seem that we won’t be getting any answers to our questions until the meeting takes place, which if correct is totally unacceptable in my opinion Members, We hope you're all well. As mentioned, following our email to you with the information surrounding the potential Dalrada deal, we are giving you a reminder of the meeting we mentioned in that email. We would also like to thank the members that have reached out to us with questions so far surrounding the potential deal. We are collating all of these and we will circulate this round to our members via email ahead of the meeting. If you missed the previous email sharing the details on the potential Dalrada deal, you can click here to view it again. Meeting Information Monday 2nd June 2025 Cappielow Park supported by Dalrada Technology UK and Online via Zoom 7pm An MCT meeting with members will take place on the above date and time at the above venues. We require all members who are looking to attend to register their intention to do so. Please click the link below to register, with options to attend either on Zoom or in person. Your Zoom link will be sent out on ahead of the meeting if you choose to attend online. Agenda 1 - Welcome and Apologies 2 - Summary of Potential Dalrada Deal 3 - Questions from Members 4 - Update on the Vote 5 - Process for New MCT Board and Timeline Should anyone have any questions on any of the above, or indeed anything else, please feel free to get in touch. Thanks, Interim MCT Board

Gordon has put his name to his posts - will you do the same when making allegations about him? Regardless of how true or otherwise your allegations are, they do not address either the situation we currently face, or any of the points he raised so forgive me for thinking it is coming across as whataboutery & a cheap attempt to discredit one of the only people who appear at this stage to be sharing information with the fans in good faith.

yup - these little details are important as it could easily lead to some people not getting their questions answered, or even missing out on the chance to vote. I also sent my questions to both email addresses - which is in itself another problem of their own making since their limited resources will now be stretched further by having to trawl through a bunch of duplicate messages. You would have thought now that the highly professional & capable Dalrada & Laird-approved interim MCT board are in place and all those pesky fan representatives have been sidelined, things would be running much more smoothly

Hi Gordon - first let me thank you for the time & effort you put into helping the club, and wish you well on your continued recovery. It feels now like with all dissenting voices silenced & GMFC & MFC boards operating in lockstep, there is a real vacuum of impartial information to help people make the right decision on the way forward so you speaking out here really is invaluable. The mail which MCT sent out was very light on details around the deal and came across much like a pitch as to why it should be accepted. Given the lack of transparency on this situation & MCTs refusal to allow a counter-argument to be put forward on the proposals, do you think there might be any prospect of yourself and/or other like-minded individuals (possibly including some ex-MCT directors) getting together to put out some sort of a statement or open letter to the fans just to raise awareness of the situation?

While I won’t be holding my breath for any response to my email, I do expect that they will eventuallyrespond in kind to the questions being raised. With the limited manpower which GMFC & MCT have at their disposal I expect they will probably give it til at least the end of this week, collating the main themes of questions received, then attempt to address them all collectively in another generic catch-all spin statement similar to the initial one they sent out on Saturday.

These are more or less the exact questions I have went back to them with. I would suggest you do the same - the more people ask these important questions the better chance we have of getting an answer out of them. Dont blame yourself for being out of your depth - there’s been a lot of smoke & mirrors here with the various parties trying to control the narrative via leaking some details and then withholding important information, then trying to spin things when they finally do get round to releasing limited info on the offer. The way this has been handled doesn’t really give me a great feeling that either board or Dalrada are entirely trustworthy but we are in this situation now and need to try and navigate it as best we can

The email with link to vote on proposals has just gone out. Personally I won’t be deciding on how to vote until I have a response to the list of questions I’ve sent.

As I understand he is not on the board of directors which would mean he doesn’t have a vote at all? Maybe I’m wrong but that’s my understanding of the situation at present

Having some time to sleep on the offer, I am tentatively leaning towards accepting it on the following conditions (and I’m sorry for the large font - I typed this up in my phones notepad and pasted it in here) If Laird is to continue as chairman, he should be on the board as 1 of the 3 nominees mutually agreed upon by the MCT & Dalrada representatives. This isn’t because I particularly like or trust him - it’s because being a director of the company will make him more accountable for his actions from a legal standpoint In the event of Dalrada defaulting on any monies owed to the club, their 2 representatives should be immediately removed/suspended from the board (or at least have any voting & decision making powers suspended) until payments are brought up to date Guard rails need to be in place to prevent GMFC board from issuing new shares in the club (which could lead to a situation whereby MCT shareholding is diluted without the input of of the owners) Good to see this line - “ It is also worth us confirming that this is a choice of the MCT Board and not a condition of this deal. “ Regardless of what “the interim MCT board are happy with” there needs to be a clear commitment that there will be no further demands from Dalrada beyond the ones already made. Eg MCT membership are free to empty the current interim board and elect another one, and remove Barr & Robinson from GMFC board without any recourse or threats from Dalrada - if Bonar wants these guys in the board then he can use up his own 2 appointments. The deal has incentives for MCT to increase their contributions with Dalrada matching incremental contributions up to a point. Are there any caveats in the deal relating to what happens if MCT contributions decrease? Clearly increased MCT membership and funding is in everyone’s interests but IMO it would be foolish/risky to sign up for a deal which is conditional upon MCT maintaining a certain level of membership & funding, so I would like reassurances that this is not the case What is the process around appointing and removing board members? Clearly the MCT/Dalrada appointees can either step down or be removed & replaced by the organisations they represent, but in terms of the other 3 there needs to be clarity in the process around removing them & nominating replacements should the need arise. Maybe this is as simple as it being raised and voted on at a board meeting, but (assuming the person whose removal is being proposed cannot vote, or the vote is to appoint a replacement for someone who has already stepped down), what happens in the event of a 3-3 stalemate - who has the casting vote? IMO as owners of the club, the MCT reps should always have the casting vote in this and any other stalemate situations.

There’s a lot of information in there to digest, but my initial reaction is It is better than expected insofar as it doesn’t involve any change in the shares of the club or the property, but also a bit ridiculous to demand 2 seats on the board while marginalising MCT so that they get less than 30% representation in exchange for their 90% ownership. If this deal is to be accepted then I would certainly like there to be something added to the articles which prevents the board from deciding to issue new shares without MCT membership approval. Otherwise, once dalrada have effective control of the boardroom (i.e. 2 of their nominees plus at least another 2 who are clearly aligned to their agenda), would there be anything to stop the new look GMFC board from having a future share issue which would effectively dilute the current 90% MCT control without the need for any of the current shares to change hands? Eg if current shares in circulation are 100 and we own 90 of them, dalrada wouldn’t need to have any of the 90 transferred to them if the board can decide to issue another 100 new shares and sell them to Dalrada (thus giving them majority shareholding without MCT having any say in the matter) I am far from an expert on this subject so would be delighted if someone better informed tells me this isn’t possible etc but if it is then we need to put some guardrails in place before giving up control of the boardroom

At this stage I would bite your hand off for that outcome, but I suspect there might be a bit more to it than that - why else would they need it to be sanctioned by MCT members?

Delaying it strengthens their position (assuming that club officials have made no attempt to find alternative sponsors and this offer is indeed the only show in town)

Articles state - “ 4.4 Shares in Greenock Morton Football Club Ltd, owned or controlled by the Company, may be sold or disposed of at the discretion of the directors of the Company subject to the following restrictions: a) the approval of a General Meeting is required if the sale would result in the total shareholding in GMFC falling below 75% of the total share capital of GMFC b) the approval of a General Meeting is required if the sale would result in the total shareholding in GMFC falling below 50% of the total share capital of GMFC. The proceeds of any sale of shares must be deposited into the funds of the Company. c) In the event of MCT proposing the selling of shares of GMFC to another party, in line with the restrictions noted at 4.4, the extent of the total share equity to be held by posed purchaser must be disclosed in full to MCT membership before seeking approval from a General Meeting of any share sale. ” Approval from a general meeting means a majority of votes cast by the attendees & proxies. The articles however don’t define what a quorum is for such meetings, so it’s possible it could get passed with a relatively low number of votes if the meeting isn’t well attended by MCT members.

This is precisely my fear. The more they delay this being put to MCT membership, the easier it will be for them to present it as a fait accompli - I.e. “this offer is the only show in town, turn it down and we don’t have enough time to line up alternative sponsorship/funding and will need to go part time”. If that’s what presented to us then not only do we need to reject it, everyone involved in getting us to this point needs emptied for being complicit in the situation. Another elephant in the room here (assuming Dalrada do want shares in the club) is what happens to the stadium. My understanding is that Cappielow is owned by a seperate company (GMFC property) which is in turn owned by MCT. If this offer turns out to include demands on stadium ownership too, that’s a major red flag for me. Having a say on the running of a club you invest in is one thing, but if it turns out that this also includes moves to control the property business then it will raise another set of questions around dalradas intentions

I would rather see us go part-time while seeking sponsorship elsewhere than be strong armed by some spiv attempting a hostile takeover by stealth

So putting in a similar amount to the current deal, keeping stadium & shirt sponsorship AND getting majority of shares? Doesn’t sound like a great deal to me.

We need 100% clarity on exactly what Dalrada are offering & what they expect in return. If as has been speculated they are wanting shareholding in return for investment, we need it to be broken down by £a in return for b% shares and £x in return for shirt/stadium sponsorship no way can we accept them bundling the 2 together when in reality they are 2 separate things. Given the lack of clarity on their financials & their previous record of missing payments, any deal also needs to have clear clauses in it whereby any defaults have consequences in terms of reverting shareholding back to MCT if commitments aren’t met.

Agree with the above points re succession in the boardroom. With a lack of competent people who are willing to spend their valuable time for little/nothing in return, we are vulnerable to attracting the wrong types of people. For sure, measures such as those that VT suggested can definitely put some governance in place to mitigate against the sorts of monumental fk up which we are witnessing unfold at the moment. Graham McLennan & Gordon Ritchie are the types of people who we need to be getting involved, but unfortunately these sorts of people aren’t exactly queueing up to donate their time & expertise. At the same time, we have persons involved in the MCT board who have never had a good thing to say about the organisation since day 1 and who voted in favour of the previous proposals to sell a stake in the club to an undisclosed party. I hope I am wrong here but it does hint at a little more than incompetency/negligence going on.

Absolutely shocking stuff here. Of all the information that’s come out so far, I trust Gordon above the other sources so this is deeply concerning to say the least. I note with interest that Gordon’s statement mentions that he has spoken to the tele and shared evidence that the timelines claimed by the club are inaccurate. This is a big opportunity for the tele to show that they are worth their salt by doing some proper journalism as opposed to being a mouthpiece for unnamed “sources”. If (as seems to be the case) this is some sort of hostile power grab to seize control of the club, then personally I would prefer to tell Dalrada, Laird, Dale & their cohorts to do one. Even if it means part-time football.

The exact meaning of this passage is important - The board of MCT has subsequently been notified officially that the continued backing of GMFC sponsors Dalrada is dependent on those representatives, and the current club chair, remaining on the board at Cappielow. Officially notified by whom - the GMFC board or Dalrada? If it’s the former then (assuming the MCT version of events is true), it needs to at least be taken with a pinch of salt. If on the other hand it is definitely coming from Dalrada (as opposed to an empty threat being raised in an attempt to maintain power) then there needs to be an effort to make sure they understand the reasons behind the proposed removal of Barr & Robinson, and discussions to try and align all 3 parties in a way that allows the sponsorship to continue without compromising fully accountable MCT representation on the board.

Nothing new on the tele article other than it being cited to “well placed sources” who I suspect are the same ones that this thread originated from. now that it’s in the press rather than speculation on a forum, the club and MCT absolutely need to make a statement