Tonight's Gazette

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Mick_Sharp
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Tonight's Gazette

Post by Mick_Sharp » Mon Dec 10, 2012 5:44 pm

Share issue story here

More from Sky T&W here

matty the mariner
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Re: Tonight's Gazette

Post by matty the mariner » Mon Dec 10, 2012 7:04 pm

It's been said a few times that the share issue was the 'second choice',so I assume the first choice has now collapsed.Unfortunately the same fate will happen to the current scheme.The timing is all wrong-the team is bottom of the league and facing almost certain relegation,crowds are dwindling -how can you convince the casual supporter to stump up cash ? This should have been done months ago.Also ,according to the Gazette, only members of the Supporters Association can buy shares,thus alienating many (or is this the usual Gazette innaccuracy)

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Re: Tonight's Gazette

Post by passtheball » Mon Dec 10, 2012 10:28 pm

The share issue is an option now in play with effect from today's Shields 'Gazette' press release promoted by the SSFC Supporters Association as its contribution to the projected purchase of Filtrona Park, with now the invited support from the general public and the local business community. It will also be featured this week in ten other local and regional newspapers, plus television and radio. It is a requirement in law that all members of the scheme are also members of the SSFC Supporters Association, as advised by the law firm of Ward Hadaway, who designed the share issue document, which is based on the government funded Supporters Direct organisation. So far from alienating members of the public the fact is that membership of the association is necessary in order to comply with this lawful prior requirement, the cost of which is £5 per annum, and which is maintained to protect the share validity, as is normal practise. The government's Financial Services Authority in London issued a registration number for the share issue last month, and thus now licensed the scheme could be made public, and not before. From initial discussions to final version and approval of the document, eight month's work in total has been required. The timing of its release has no bearing on the football clubs present standing in the Ebac Northern League first division table, and has been subject to numerous other factors, beyond the control of the supporters association. The long term future of the football club is hoped to be secured with the already pledged significant financial support of numerous major members of the local business community, through the very good offices of the Rt. Hon. David Miliband, MP club president. Also with pledged support from the membership of the supporters association, and with whatever now is most hopefully forthcoming from the general public and other members of the business community with a positive displayed public spirited interest by take up of shares to aid the survival of the town's senior football club and particularly with the sentiments of actually wishing to help the football club at a time of its most urgent need.

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Re: Tonight's Gazette

Post by sonfan » Mon Dec 10, 2012 11:40 pm

matty the mariner wrote:It's been said a few times that the share issue was the 'second choice',so I assume the first choice has now collapsed.Unfortunately the same fate will happen to the current scheme.The timing is all wrong-the team is bottom of the league and facing almost certain relegation,crowds are dwindling -how can you convince the casual supporter to stump up cash ? This should have been done months ago.Also ,according to the Gazette, only members of the Supporters Association can buy shares,thus alienating many (or is this the usual Gazette innaccuracy)
The first option would be for a single person or group of people to buy the ground outright, the group would include the SSSA share issue, but in an ideal world you do not want the club with a shortfall and needing to top that up with a mortgage in these uncertain financial times. As mentioned earlier, it has taken months to set this share issue up. Also anyone can apply for shares but it is a legal requirement to join the SSSA and become a member at the same time, after all, you will need to attend meetings and vote on any issues relating to the club.

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Re: Tonight's Gazette

Post by marinersteve » Tue Dec 11, 2012 7:53 am

I am also very confused indeed..only some two weeks ago or thereabouts all communications and postings hereon suggested the share issue was on hold pro tempore due to what appeared to be suggested was a plan not in the control of the SSSA, from the reports gven at the time, no news since then to the interested parties considering participation in the scheme that it may in fact be proceeding and lots of mixed messages to be fair, clarity and certainty essential in these matters to maximise confidence in potential members, luckily most members of public not privy to the forum will not be aware of the stop-go, I was going to ask if the prospectus to be made available online with link from here but gazette article seems to suggest that there is none?
I still want to do my bit as I can, those of the general public with no links or prior interest in or knowledge of club will need info and persuasion such as community benefit and so on, usual sort of thing..
Very much hope that Bob's history article will help to inform the masses, the target is certainly attainable but ground purchase only the first step in getting SSFC back to where it should be.
Onwards and Upwards

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Re: Tonight's Gazette

Post by passtheball » Tue Dec 11, 2012 12:05 pm

The Supporters Association received confirmation of the FSA's share issue registration only last month, and prior launch of the share issue - acting on the solicitors advice without this was not advised. The post of November 26th concerning the share issue indicated that the scheme was then on hold pending a decision by the club which involved other considerations and their possible outcome. The association has recently since that post been asked by the club to launch the share issue into the public domain. The provisions of the share issue are outlined in the Shields 'Gazette' and as stated all subscribers to the scheme will be as lawfully required receive a full copy of the 23 page A4 document.

The share issue was never envisaged as a sole means of attracting capital sufficient to achieve the purchase of Filtrona Park, but as an option to assist the club as a contribution by the supporters association. The club has prior considered and investigated other possibilities. The current economic climate has proven to be disadvantageous to such efforts to date. Share issue subscribers as stated in the Gazette release will be entitled to a vote being also members of the supporters association, which is a legal requirement on both counts, in a democratic grouping that will represent the club committee, the business community and the supporters association and its general public affiliates all involved in a body to administer the club. I hope this explanation is satisfactory.

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Re: Tonight's Gazette

Post by optiontrader » Tue Dec 11, 2012 12:38 pm

Its good that we are finally here, just a shame where we are in the league. Im looking forward to reading the 23 page document ( prospectus ). Lets not pre-judge things before we have the full facts i.e after reading the document. The pledged support of the business community is common sense, have a succesful football team + that helps the workforce...win on a Saturday = more performance Monday morning @work.

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