virtuocity Posted July 18, 2016 Report Share Posted July 18, 2016 1 minute ago, Squirrelhumper said: Take a guess. Guessing is all we've done for years. 0 Quote Link to comment Share on other sites More sharing options...
KFC_Macca Posted July 18, 2016 Report Share Posted July 18, 2016 On 17/07/2016 at 10:48 AM, virtuocity said: Absolutely no indication of what directors want MJ out. If the rumour that someone wants to invest £700k on the basis that MJ leaves is true - then the question should not be who wants MJ out. The directors would have to ask themselves, is MJ staying worth than more than £700k to the business. That would be the only valid business reason for wanting MJ to stay. Given his record, I therefore think it is more valid to ask, which directors still want MJ to stay. I expect none of them (again on the basis of the rumour upon investment being true). 0 Quote Link to comment Share on other sites More sharing options...
Beaker71 Posted July 18, 2016 Report Share Posted July 18, 2016 (edited) Problem is we know he has a thick skin and is utterly immune to the abuse he rightly gets. Therefore the only realistic way to force him out is a combination of all other directors supporting the vote of no confidence and requiring him to leave the board - majority of shareholders would be required at least. Plus the other situation that by staying he is not acting in the interests of the club and therefore he is breaching his fiduciary duties as a director. Problem with the second point is he will hide behind the supposed agreement with the bank that he MUST stay, I do not believe that for one minute if there was a deal the wording is anything other than he cannot leave and make a profit on his shares. Therefore he is welcome to keep his shares but he can GTF off the board. Edited July 18, 2016 by Beaker71 0 Quote Link to comment Share on other sites More sharing options...
Dunc. Posted July 19, 2016 Report Share Posted July 19, 2016 This is the point which has always dumfounded me - I can't believe there is an agreement in place where MJ cannot leave the club. Surely if he is deemed to be barrier to progress then bank won't make him stay, it is all about public face with banks nowadays, that's why they agreed the deal in the 1st place. If directors are serious surely they can approach the bank to understand term of agreements and renegotiate if MJ's place on the board is driving the club back into debt. Where is the fiduciary duty that's always talked about amongst directors if they let a deal like that ruin the club. 0 Quote Link to comment Share on other sites More sharing options...
Jimmy Superscot Posted July 19, 2016 Report Share Posted July 19, 2016 Let's face it none of us know what the bank did or didn't insist on regarding MJ's future involvement as part of the deal. However, looking at it logically, they would most likely want him to retain his shareholding for a minimum period to prevent him from cashing in on the debt free status of the club. On the other hand, what would they stand to gain by insisting that he retains his place on the Board when they no longer have an interest in the club's financial performance (leaving aside the view that his involvement actually impairs financial performance)? I think this is the usual smoke and mirrors from MJ and this will be shown up at the EGM, if it is required, or by his removal if that happens first. The other Directors will, I am sure, be fully aware of the terms of the deal with the bank, although they may well have had to sign a confidentiality agreement drafted by you know who.... 0 Quote Link to comment Share on other sites More sharing options...
Beaker71 Posted July 19, 2016 Report Share Posted July 19, 2016 the likely deal is an agreement between MJ personally and the Bank, whereby there would be recourse through the courts or likely a direct penalty on any profits made personally within a specified time period. This would have been I believe insisted upon to protect the banks position and avoid an embarrassing situation where MJ profited at the banks shareholders expense. Other than that I would not believe for one second that they have insisted he remains on the board, that will have been 100% down to MJ spinning a yarn. 0 Quote Link to comment Share on other sites More sharing options...
Monty4 Posted July 19, 2016 Report Share Posted July 19, 2016 8 minutes ago, Beaker71 said: the likely deal is an agreement between MJ personally and the Bank, whereby there would be recourse through the courts or likely a direct penalty on any profits made personally within a specified time period. This would have been I believe insisted upon to protect the banks position and avoid an embarrassing situation where MJ profited at the banks shareholders expense. Other than that I would not believe for one second that they have insisted he remains on the board, that will have been 100% down to MJ spinning a yarn. Spot on. Remaining on the board is his way of protecting any potential profit until he can exit without penalty. 0 Quote Link to comment Share on other sites More sharing options...
Van Tornhout's Header Posted July 19, 2016 Report Share Posted July 19, 2016 10 minutes ago, Beaker71 said: the likely deal is an agreement between MJ personally and the Bank, whereby there would be recourse through the courts or likely a direct penalty on any profits made personally within a specified time period. This would have been I believe insisted upon to protect the banks position and avoid an embarrassing situation where MJ profited at the banks shareholders expense. Other than that I would not believe for one second that they have insisted he remains on the board, that will have been 100% down to MJ spinning a yarn. This is more than likely the truth, I don't believe for 1 second that the bank insist he remains a board member they will only be concerned that he does not sell the shares for anything that could have been used for debt repayment in a specific time period (2019). The only person that wants MJ to remain on the board is MJ, not for the good of the club or cos he enjoys the job, but for the spoils of hospitality at away grounds, chumming up to folk from SFA other clubs etc. If he gets punted off the board he goes back to being a 2 bit lawyer from Ayr whose reputation in the wider Kilmarnock/Ayrshire business community is dirt, with a truckload of shares in a football club he doesn't give 2 f**ks about that are technically worthless to him for another 3 years. 0 Quote Link to comment Share on other sites More sharing options...
Mcilroy56 Posted July 19, 2016 Report Share Posted July 19, 2016 3 hours ago, Van Tornhout's Header said: This is more than likely the truth, I don't believe for 1 second that the bank insist he remains a board member they will only be concerned that he does not sell the shares for anything that could have been used for debt repayment in a specific time period (2019). The only person that wants MJ to remain on the board is MJ, not for the good of the club or cos he enjoys the job, but for the spoils of hospitality at away grounds, chumming up to folk from SFA other clubs etc. If he gets punted off the board he goes back to being a 2 bit lawyer from Ayr whose reputation in the wider Kilmarnock/Ayrshire business community is dirt, with a truckload of shares in a football club he doesn't give 2 f**ks about that are technically worthless to him for another 3 years. Likely, likely. There are of course Killie fans who work/worked with Lloyds who will possibly know the terms of the deal. 0 Quote Link to comment Share on other sites More sharing options...
Scooter Posted July 19, 2016 Report Share Posted July 19, 2016 I like this thread... folk are cottoning on to what he's all about and the more folk that have the wool pulled from their eyes the better!! 0 Quote Link to comment Share on other sites More sharing options...
CBFC Posted July 19, 2016 Report Share Posted July 19, 2016 Yes, there are fans who work or worked for the Bank, but they are bound by the Bond of Secrecy that all signed when joining the bank. It is not worth your pension or job speaking out. In time the truth will come out either officially or by a family member of a Bank worker who cannot be taken to court or lose hIs/her pension. 0 Quote Link to comment Share on other sites More sharing options...
Mcilroy56 Posted July 19, 2016 Report Share Posted July 19, 2016 11 hours ago, CBFC said: Yes, there are fans who work or worked for the Bank, but they are bound by the Bond of Secrecy that all signed when joining the bank. It is not worth your pension or job speaking out. In time the truth will come out either officially or by a family member of a Bank worker who cannot be taken to court or lose hIs/her pension. No s**t Sherlock 0 Quote Link to comment Share on other sites More sharing options...
Dennykillie Posted July 19, 2016 Report Share Posted July 19, 2016 (edited) Maybe a motion should be put to the EGM that the Board should request that the Bank provides details of its deal with MJ to the Club's shareholders! Or at least confirm whether or not MJ is being accurate in his telling of the situation. After all, everyone should be acting in the best interests of the company, shouldn't they? Edited July 19, 2016 by Dennykillie 0 Quote Link to comment Share on other sites More sharing options...
CBFC Posted July 19, 2016 Report Share Posted July 19, 2016 Aye very good. Seems you just love having a dig! if you have an issue with me B. Just come out and say it! Then I know where I stand next time I meet you! 0 Quote Link to comment Share on other sites More sharing options...
Mcilroy56 Posted July 19, 2016 Report Share Posted July 19, 2016 16 minutes ago, Dennykillie said: Maybe a motion should be put to the EGM that the Board should request that the Bank provides details of its deal with MJ to the Club's shareholders! Or at least confirm whether or not MJ is being accurate in his telling of the situation. After all, everyone should be acting in the best interests of the company, shouldn't they? An open account of the deal should really have been explained to all shareholders, unless of course there is something to hide. Hiding behind various clauses/agreements etc is however the way mystic Mikey likes to play things. Is KFC not a Private Limited Company? That will be the next excuse for not telling folks. 0 Quote Link to comment Share on other sites More sharing options...
Mcilroy56 Posted July 19, 2016 Report Share Posted July 19, 2016 17 minutes ago, CBFC said: Aye very good. Seems you just love having a dig! if you have an issue with me B. Just come out and say it! Then I know where I stand next time I meet you! Lol 0 Quote Link to comment Share on other sites More sharing options...
Scouser2 Posted July 22, 2016 Report Share Posted July 22, 2016 I have not noticed any other "papers" or even online articles following on from this "exclusive" in the Daily Mail know that Stephen McGowan has been monitioring the board room position at KFC for some time now but would have thought this might been followed up by some other journalists by now 0 Quote Link to comment Share on other sites More sharing options...
Jimmy Superscot Posted July 22, 2016 Report Share Posted July 22, 2016 3 hours ago, Scouser2 said: I have not noticed any other "papers" or even online articles following on from this "exclusive" in the Daily Mail know that Stephen McGowan has been monitioring the board room position at KFC for some time now but would have thought this might been followed up by some other journalists by now Remember we are talking Scottish football journalists here plus there is no obvious OF angle. 0 Quote Link to comment Share on other sites More sharing options...
Beaker71 Posted July 22, 2016 Report Share Posted July 22, 2016 (edited) 11 minutes ago, Jimmy Superscot said: Remember we are talking Scottish football journalists here plus there is no obvious OF angle. You mean the headline " Ungrateful hard to please Killie fans try and oust Rangers Fan Director Michael Johnstone out of board in EGM threat" won't be used? Edited July 22, 2016 by Beaker71 0 Quote Link to comment Share on other sites More sharing options...
Bullitt Posted July 22, 2016 Report Share Posted July 22, 2016 "Pro unionist, and orange walk pipe commander Michael Johnstone's grip of Sevco feeder club loosens" 0 Quote Link to comment Share on other sites More sharing options...
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