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AGM (merged)


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3 minutes ago, killiehippo said:

AGM was much more lively than normal as stated above. It looks like there will be a separate EGM to look at the vote of no confidence in Johnston, several people making the point that he is the barrier to fans returning and businesses investing. Interesting times ahead.......

Take it only shareholders may attend the EGM or can you attend if you are a trust member as they in turn are shareholders?

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10 minutes ago, killiehippo said:

AGM was much more lively than normal as stated above. It looks like there will be a separate EGM to look at the vote of no confidence in Johnston, several people making the point that he is the barrier to fans returning and businesses investing. Interesting times ahead.......

Thank God. I am an expat in Florida and watching from a distance while my beloved club was gutted and humiliated was hard to take. My last full season was 97 and I watched us win the cup, since then it has been a couple of games a year and I have watched us going from getting around 10k to hardly 3k. Its been obvious for years that despite MJ maybe doing some decent things in the past, they have for a long time been vastly outweighed by all the bad a negativity surrounding him. I honestly though we would have to wait for administration before we got shot of him.

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Got a pile of notes i can get through in time. The accounts are nothing we don't already know and by the finance guys admission historic. He was the one to admit Bowie is basically bankrolling the club.

Thought Clark spoke well. It was brief and he went to training. An old boy was questioning him about fight in the team. He disagreed it was an issue but did reiterate if it becomes one he will deal with it. Still confident of staying up but admits we may need the playoff now.

After the finance guy MJ took to the mic to answer some questions the new guy couldn't. It was his usual spin. Says the bank put the value on the hotel not he or BB. His shares in the hotel are a direct swap for the shares he gave up in the club. Was asked how the hotel went from a loss of over £200k under the club but now making a profit of £17k. I didn't pick up a clear answer on that. The club owe the hotel around £300k.

It then got interesting. Questions were raised about the hospitality. Jim Mann stated the club take over 50% of the money from this. He stated profits from sports bar are spilt 50/50. The club do not incur any losses from the sports bar.

No one at the club has a straight contract. There are various clauses and triggers MJ claimed are in the clubs favour hence so many early releases. A settlement agreement was met with Locke who handled things honourably.

A supporter I forget his name then took the floor. He commented on various investments and brought up a couple of items from the naughty list. He asked MJ to do the right thing and walk away. Sell his shareholding for whatever he payed for it. He claimed to know willing buyers for club and hotel. 

MJ said he had obligations until 2019 and stated nothing would happen until at least then before reiterating he was going nowhere. He wouldn't divulge what these obligations are.

It descended into a bit of chaos from there. There can be no mistaking the feelings of the shareholders. One proposed a vote of no confidence in MJ. It was seconded but the company secretary informed us that can't happen at an AGM. Needs to be submitted in writing with second era and an EGM called. 

At one point MJ got into it a little with some on the floor. John Gall in particular seemed to get him very flustered with comments and accusations. Jim Mann stepped in to restore some order and bring things to a conclusion.

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Re the Vote of Confidence on MJ. Normally this would come up under Any Other Business and be treated as new business which is urgent. Of course, our agenda did not make provision for AOB (again, this year). So there was no mechanism to take motion forward. Let's not lose track and keep up the pressure.

Inaddition the accounts were not signed off. 

We will need to check that the minutes reflect all of this.

 

 

 

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I thought MJ was flustered today. He usually has that smugness about him. That was knocked out of him on a couple of occasions. There were some proper digs thrown at him by people who seemed to know a bit. There were no happy clappers either almost all of the floor was unanimous is agreement he should go. He was resorting to more and more cheap shots. And plenty of I've done this I've done that which usually ended with someone else actually doing something but he asked them. Did you know he's supported John Galls business for 11years. Well he made it sound like a one way street.

When Jim Mann stepped in as things were in danger of really getting out of control MJ returned to his seat and IMO was a mix of shaken by what had just happened and seething with anger. Aside from the outgoing chairman bringing things to order Bowie, Kiltie, Smith and SJO just let things happen with no intervention. I'm not sure they'd have voted in his favour had the no confidence vote happened. 

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I seconded the request for a vote of no confidence and am willing to put that in writing if required.

Well done folks, the board are in no doubt as to the feelings of the shareholders/fans. BB said he will look into the Johnstone situation but whether that produces change is doubtful. MJ said he couldn't leave before 2019 because he had given an assurance to Jamie Moffat. Bull, he wants to be here in 2019 to be the big cheese at the 150 anniversary celebrations.

Thought Lee Clark spoke well and was very clear that the first half performance on Sunday was down to a lack of skill not desire. His half-time talk focused on cutting down back-passes to MacDonald and defending the second ball better at set pieces. Guess they didn't listen.

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4 minutes ago, piffer said:

I thought MJ was flustered today. He usually has that smugness about him. That was knocked out of him on a couple of occasions. There were some proper digs thrown at him by people who seemed to know a bit. There were no happy clappers either almost all of the floor was unanimous is agreement he should go. He was resorting to more and more cheap shots. And plenty of I've done this I've done that which usually ended with someone else actually doing something but he asked them. Did you know he's supported John Galls business for 11years. Well he made it sound like a one way street.

When Jim Mann stepped in as things were in danger of really getting out of control MJ returned to his seat and IMO was a mix of shaken by what had just happened and seething with anger. Aside from the outgoing chairman bringing things to order Bowie, Kiltie, Smith and SJO just let things happen with no intervention. I'm not sure they'd have voted in his favour had the no confidence vote happened. 

He could be close to the edge.lets kick the bast@rd right over at an EGM.

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Only thing that could happen with an EGM is that if he is kicked out he would still have shares in the hotel.  As was pointed out at the AGM he could out of spite then just ask for the £300k that he and the hotel are owed!  Therefore possibly liquidating us!  The smarmy bastard has it all worked out I think! We really need BB to come out and be against him aswell!  

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5 minutes ago, SCOOT KFC said:

Only thing that could happen with an EGM is that if he is kicked out he would still have shares in the hotel.  As was pointed out at the AGM he could out of spite then just ask for the £300k that he and the hotel are owed!  Therefore possibly liquidating us!  The smarmy bastard has it all worked out I think! We really need BB to come out and be against him aswell!  

He could, however, if it only cost £300,000 to be rid of the man, I'm quite sure many a fan or investor would pay that in a heartbeat. £300,000 is £299,999 more than he's entitled to... and probably about £700,000 less than some would pay to get rid of the guy!

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5 minutes ago, Killie71 said:

If BB is indeed bank rolling the club then why the feck is he tolerating one man who is dragging his investment further into the abyss? Sort it out please Mr Bowie, for your own sake if nothing else.

Bill Bowie could come out of this like a hero if he plays his cards right. MJ leaves, he remains involved but with proper investment and the club stay in the top division. He has the power to go down as "the hotel thief" or "the man who galvanised killie"... it's all about legacy now and protecting his obvious investments.

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If he's obligated to be here until 2019 but there is a vote of no confidence would there be a legal process to go down to rid him of these obligations whatever they may be. The hotel putting the club into the liquidation process is complicated. The club after all have a two percent stake and Bowie is the majority shareholder. Any decision by him as the Park Hotel ltd has the potential to do away with money owed to him personally or Billy Bowie Special Projects.

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He revels in protest chants. Pressure directly from the shareholders is new and with the additional investment in the club in recent years he is now in a position that there are shareholders with a bit of clout in comparison to previous years. Best opportunity is to get several of these larger shareholders to bring forth the EGM. Likes of Woodstock, Mann, Macklin (or the trust in her proxy?) etc.

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