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very possible weeyin, and essence of my comment, one off sale of the family silverware (20% shares).

 

sell them and they have gone, use the return it to pay a loan off early when its not required, no reserves for any future problems

 

some may argue we'll not sell the full £500k , but I feel , responsible business management would just not offer that amount , leaving teh society with no leverage in the event of any of the situations it was set up to protect the club against

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A few people have mentioned that if you buy the shares you automatically become a member of the WS, that not the way I read it.

 

It seems to be more of a case of "as well as being part of the Well Society you can hold individual shares as well".

 

There already must be share holders who are not members of the WS.

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A few people have mentioned that if you buy the shares you automatically become a member of the WS, that not the way I read it.

 

It seems to be more of a case of "as well as being part of the Well Society you can hold individual shares as well".

 

There already must be share holders who are not members of the WS.

I don't think buying shares makes you a member of the ws, you would have to join that separately.

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I'm maybe being a bit naive here but the way I see this share sale is akin to the folk that sell plots of land on the moon, you pay your money get a nice wee presentation certificate and on your way. Your never going to see any dividend, return or otherwise, it's just another means of raising cash for the society.

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I don't think buying shares makes you a member of the ws, you would have to join that separately.

Maybe you should read the offer before commenting

 

http://www.thewellsociety.co.uk/share-sale-faq/

 

Non-members purchasing shares will be given a pre-steel membership of the society

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It says you join the WS at the pre Steel level but i'm not sure what that actually means.

When the pre-steel membership was introduced , it was to accommodate those that could not make the full upfront £300? Payment to be a member

 

They were given membership including voting rights for signing up as members on a recurring payment scheme, expectation that they would continue contributing and become paid up members.

 

Now for a minimal share purchase of £50 non members will be given a presteel society membership , with no contribution to society membership funds or enrolment in recurring payment scheme

 

Only argument seems to be 'they will not get rewards'

 

Counter to that, voting rights are not a reward , every member at every level has them , it was debated at length in society meetings that there is no requirement for annual subs to retain that voting right as it was earned by paying for membership

 

Now you can get it for free

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That does sound a bit dodgy and opens the door for corruption via proxy voting given the low turnout in most votes.

 

It would be interesting to hear why the society wants to give share buyers full voting rights.

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The point is that we could sell shares at zero risk. So why introduce any, however small?

 

I have no idea what the club's finances will be like in 30 years, but I'd want the Society to still be the majority owner.

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Seems clear it's a mechanism to put money through the Well Society and trigger the double your money offer from Les. If we just sell shares it's money to the club, and not into the society and not eligible for the double your money. I'd imagine part of that discussion and agreement with Les was if someone does buy shares from the Well Society they become a well society member (if their not already, which I am guessing most will be anyway).

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I understand the motivation behind the idea.

 

Like I mentioned in an earlier post, though, there is no need for us to rush and pay Les back. We have a very favourable interest rate (0%), and a creditor that isn't exactly pressuring us for our installments. It's literally free money that we can leverage for the good of the club.

 

 

I'd still choose low risk over no risk though. In a previous work-life, I saw the results of numerous once-in-a-lifetime events kill some business stone dead. The overall number that went to the wall was small, but they were all completely wiped out.

 

Years ago, I attended some finance training, and the speaker was talking about how smart people often make stupid decisions when they have money. His classic example was mortgages.

 

This was in the US where mortgage rates are fixed for the duration of the loan, and the interest you pay on them is 100% tax deductible.

 

People that would come into money (typically from an inheritance) would often rush to pay off their mortgage of 3 or 4% interest. Not only were they losing that tax break every year, but if they invested the money in a safe fund, they would be getting a return of 5 or 6%.

 

But because it felt good to pay off their home loan, they were costing themselves tens of thousands of dollars (or more) in the long run.

 

We just need to make sure that what we do in the short term here, however good it feels, isn't costing us in the long run.

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As a non member of the ws what benefits do you actually get for say your £10 a month contribution, are there discounts on season books, merchandise etc. I know members get to vote etc but as I understand it any non member buying say £50 if shares will also get to vote so what's to stop ws members cancelling their contributions leaving the ws and instead buy 5 shares, they will have the same rights and have saved cash as well, that seems a bit of a disincentive to join the ws.

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As a non member of the ws what benefits do you actually get for say your £10 a month contribution, are there discounts on season books, merchandise etc. I know members get to vote etc but as I understand it any non member buying say £50 if shares will also get to vote so what's to stop ws members cancelling their contributions leaving the ws and instead buy 5 shares, they will have the same rights and have saved cash as well, that seems a bit of a disincentive to join the ws.

 

This 100%.

 

While I'm not against the idea of a share issue and get motivation for it, don't think it's been thought out properly.

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Ive emailed, but Im not expecting a reply before tues, does anyone know if society members without membership cards will still be able to purchase tickets as society members? I joined back before the semi.

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Ive emailed, but Im not expecting a reply before tues, does anyone know if society members without membership cards will still be able to purchase tickets as society members? I joined back before the semi.

Bloody hope so cause Im in the same boat

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They emailed me today, you dont need your membership card, your details will be on file.

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Just on some of the points raised about the Share Sale, I've been sent the following points to post up:

 

- just like any share ownership, shares bought in MFC are owned by the individual to transfer as the owner pleases.

- any such investment if you can call it that is solely with the heart. Dont expect any dividends or financial rewards. If the Club ever make profits they will be completely re-invested in the Club - after the loans are repaid - and not paid out to shareholders.

- the price of £10 per share is not meant to reflect real open market value. If anyone owns a few shares against total issued shares numbering around 300,000 , I think it is reasonable to think in terms of an open market value of a few shares being a maximum value of zero. Ownership of these shares is simply a matter of the heart.

- the shares being sold will be a maximum of 50,000.

- even if all of these are sold, the Society share of the total issued share capital will only fall from our present 75% to around 58%.

- there is no doubt that the Society will retain a controlling interest

 

As always, if folk want to discuss issues among other posters on Steelmen Online then this is the thread for it, but if you have genuine questions that you want answers to the best way to get them is always going to be e-mailing the Society directly (Douglas Dickie and Tom Feely are responsible for answering questions on the Share Sale, so you need to e-mail for those answers) - [email protected]

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What is happening? I sent my application in before the deadline, heard nothing, then phoned and phoned ... and eventually managed to speak to someone and was told they hoped to phone the following week to get payment details. Since then ... nothing.

 

If the plan is to be able to take advantage of the "Double your money" offer then they will need to get a move on.

 

Also, can't talk for others but, I was buying the shares to give to someone for their Christmas but as time passes it seems to be getting less and less likely that the Certificates will be issued in time.

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http://www.thewellsociety.co.uk/2017/11/23/share-sale-quick-update/

 

 

 

As we are sure you can appreciate, the last couple of weeks have been hugely hectic at Fir Park, with phones ringing off the hook and as many “hands on deck” needed as possible as we approach Sunday’s massive cup final. It has taken a mammoth effort by all at the club to ensure that everything is in place to make Sunday as successful a day for ‘Well fans as it possibly can be (and the work will continue right up until kick-off).

 

However, as a result, we do know that some supporters keen to purchase sales as part of the Well Society’s Share Sale have been left frustrated by short delays.

 

We understand that these delays can be an inconvenience but we would ask for your patience at this time – essentially, the slightly longer time it has taken to complete applications is a direct result of maximum attention being given to gearing up for Sunday’s Hampden showpiece!

 

We would like to assure everyone who has submitted an application that we will be contacting you as soon as possible to process the payment and ensure that you receive confirmation of your shares and your certificate prior to Christmas.

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http://www.thewellsociety.co.uk/2017/11/24/double-your-money-extends-through-2018/

 

The Well Society is today delighted to announce that Les Hutchison has extended his extremely generous “Double Your Money” offer for another year.

Mr Hutchison had offered to match the total amount of funds raised by the Society in this calendar year with a reduction of his loan to the Club by the same amount, to a maximum of £500,000. In effect meaning that every £1 counts as £2.

After a fairly modest start to the year with several changes taking place on and off the field, we have seen a significant increase in pledges, donations and funds raised in the last few months of the year as we have stepped up our attempts to take advantage of the initiative. In order to continue this momentum, Mr Hutchison has kindly agreed to extend this offer through the 2018 calendar year.

On behalf of everyone at the Club and the Well Society we would like to thank Mr Hutchison for his incredible support.

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Ive said before that I dont believe that he wants his £1m loan back but - quiet rightly in my view - he isnt just going to give us the money hes asking us to prove that we are also willing to do our bit to make the club viable.

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Ive said before that I dont believe that he wants his £1m loan back but - quiet rightly in my view - he isnt just going to give us the money hes asking us to prove that we are also willing to do our bit to make the club viable.

 

I think you're right. The conditions he has put around his loan and the repayments have all been very much to the benefit of the club. From the restructuring of the operations, the business model and the community works, to encouraging more members and donations to the Well Society.

 

The success we're having this season is due to a few factors. The biggest one, in my opinion, is the foundation Les has built when he injected his cash.

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