TerracingTomas wrote:I read an article in the Wall Street Journal about how Rupert Murdoch and his family retain control of News International despite not owning the majority of shares. It’s because of the existence of dual class shares. Shares can be divided into 2 classes, ones with voting powers and ones with purely economic interest. The latter means you get a dividend if there is one and if the company is doing well and the price of your shares go up you can sell and make a profit. But your shares have no voting rights. You get no say at shareholders meetings, you cant appoint/fire directors, fire executives, make corporate decisions. Those privileges lie with those holding shares with voting rights and the Murdoch family owns the majority of those.
So what’s this got to do with Accies you might ask? Remember back in July last year there was a special meeting for all Accies shareholders at which it was agreed to increase the shareholding to attract investment. Essentially the existing shareholding of 573,757+ shares was increased by an additional 1,426,243 shares that could be sold to generate investment.
So if I bought the 1,426,243 shares I’d own Accies wouldn’t I ? Sorry not necessarily. The same meeting voted to create dual class shares and that happened. All existing shares became either A shares with voting rights or B shares with purely economic interest. And guess what? Mcgoofey turned 100,000 shares held by his company Edencrest into A shares with voting rights and the rest of his shares and everybody else’s for that matter became B shares with no voting rights. So he controls Accies through a minority of shares but the ones which count the ones with voting rights. So if Serif has truly bought the club he has had to acquire the A shares or a majority at least otherwise Mcgoofey still has control. Now Serif is a successful businessman whose company Active Access has a sound trading history so I’m sure he’s got the voting right shares!!!
So the full thing is essentially pointless then.
TerracingTomas wrote:So the full thing is essentially pointless then.
Not sure what u mean by the full thing POL. If Serif acquires the voting shares or the majority thereof he owns the football club otherwise he is merely a front man for Mcgoofey. But without the stadium the club loses an asset that was designed to provide the club with revenue not line Mcgoofeys pockets. Livingston manage to operate successfully with out owning Almondvale but then they don't have Mcgoofey for a landlord. Let's get the club out of his hands then we can focus on the stadium!
niallfraser8 wrote:Look gentleman l have studied the club accounts going back years and so has TT, he knows the wages that Mcgowan has paid players alone has been more than 12x the season ticket revenue year in year out never mind him paying staff, youth academy wages and club running costs. Accies support was decimated long before Mcgowan ever got here. You all know that is a fact why no one acknowledges this baffles me. l was told Colin suspects that TT has his own personal agenda whatever that is ...l was told that he thinks TT has poisoned most of you gentlemen over time. The truth is when I worked with Colin it was clear he gave his all for our club and his charities. Guiding the club into the best times Accies have ever known bringing in millions. Nobody cares to acknowledge all the new young supporters that came from Colin’s school talks, over 100k watched his 9 minute video with the SPL even reposting it. Does that not tell you anything boys...honestly this web site amuses me. In fact do you not see that if no one had bought a season book it wouldn’t have not have made a single difference to Colin l now think I understand what l was told by a few people, fellow supporters that said its a handful of toxic supporters that are the real problem at our club, their unbelievable expectations and sense of entitlement is jaw-dropping, this handful of delusional toxic supporters with loud social media voices give little support to our club - mostly cowards hiding behind keyboards, hiding their true identities normally very sad and unhappy individuals that only feel alive when attacking somebody or something, devoid of common decency. These same toxic voices were there when Accies were in the premiership and was told that they are relatively insignificant to the running of the business although they damage the Accies brand. Colin is certain the vast majority of supporters are really decent people that truly love their club although most realise Accies supporters are a very small part of the community as a whole. When the club is sold l am sure Colin will concentrate on his bigger picture of running his property company looking after his tenants of which we are one. We have always been a tenant, always will be a tenant because where is the 5 million pound to buy our own stadium going to come from? Thank god Colin was there or a developer could have bought it and built flats.
We all know about Colin’s charity work, that it’s his real passion and that annoys a few people on acciesworld, how dare he help people “we are a football club not a charity!!” Although the club, our football club receives revenue from these charities is quite significant revenue ask any new owners to disclose exactly how much revenue the charities give hamilton accies football club and you will be shocked, it may change some opinions although I am certain you won't ask because it won't fit the acciesworld narrative. Anyway with Colin selling the club l expect he will have more time on his hands which our community can only benefit from. My biggest worry is that his money raising ability was quite exceptional although l accept no one on this site would acknowledge that either and l wonder why not? It’s that word “narrative” again. Anyway hopefully we will get a top commercial man that will match or even better what Colin normally brought in, that will let us enjoy a season of winning some games in fact l may even stick a wager on this season to win this division.
I'll leave you all to continue to be the balanced voice of the accies with your glorious leader Terracing Thomas a man of the people, a man of integrity, a proud well respected man. Who ever TT is Accies are lucky to have him, its people like TT that will play a major role in rebuilding Accies once Mcgowan is away. Maybe TT will be the chairman one day? l am told he already had a bit of success with selling the program in the 70s. Goodbye fellow supporters hope you all buy your season books.
Please do not respond to this post because I am seeking help from acciesworld anonymous... you will only hear from me if l have relapsed.
Like most clubs our size we could never afford to purchase or maintain our own stadium.
TerracingTomas wrote:
The stadium was designed in the way it was with considerable office accommodation to provide the club with an additional income stream over and above football generated revenue. The deal with South Lanarkshire Council to occupy the North Stand for 20 years did just that providing a minimum of £6 million income more than enough to clear the mortgage and finance maintenance.
1874HAFC wrote:Regarding his business skills he is clearly controlling the whole show always has probably always will. I think we where safer when he owned the club we all know he paid every wage and every creditor over a 10 year period .....You point out Mr Macdonald bought the club only and you wished he had bought the stadium so you have acknowledged someone else must have bought the stadium who would you imagine that could be, maybe the man who signed for the loan to refinance the stadium and yes the personal guarantee back at the start yes it was one Mr Colin McGowan, you know most directors are all close personal friends of his I think they are a magnificent team of men great football people and as for McGowan a pretty good money raiser. I think you will agree although our season book money must have helped him ..with him now selling the club I am sure the almost 70 year old pensioner will keep himself busy with community events at his stadium. Our average supporter only needs the stadium for 25 x 90minits a year so it makes sense to do other stuff that gets our club more money or would you prefer it shut between games.
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