Just to remind you of our public meeting on Saturday 21st February at around 17.00 after the Clyde match. It's being held in the same place as our previous meetings, in the Fife Renewables Innovation Centre just across from Bayview.

What's the Meeting About?
We're looking to get support for our intended offer for the majority shareholding. We want to be able to make a cash offer rather than negotiate payment over several years as we feel this may be more acceptable to the sellers.

How Much and Where Will the Cash Come From?
We're looking to raise approximately £200,000 to allow a bid for the shares and some working capital. We feel that will allow a reasonable offer price, especially bearing in mind the directors have just realised the major club asset by selling off most of the ground around Bayview.
We're looking to raise this through donations and moneys advanced via a Credit Union.

Donations
Many fans offered one-off donations when we first launched the campaign and we are hoping these offers are still in place. The money raised in this way will go into a separate fund and will be returned if the bid is unsuccessful.

Credit Union
For the fans' bid to succeed we need to have cash in the immediate future, rather than coming in over several years. We know, however, that while many many supporters said they could commit to paying us a monthly amount over many years, not all would be in a position to pay a lump sum up front.
This is where the credit union comes in. They will lend an individual fan an amount to be repaid over five years but the money would be made available to the EFSS immediately. As above it would be held in a secure account and would not be activated until the bid was successful.
For example, the supporter who previously said she/he would commit to £20.00 per month for an unlimited time would now be able to use roughly the same monthly payment over five years to donate a lump sum of roughly £1000.00 which would go straight to the share purchase fund.

I've Got Lots of Questions about How This Will Work
That's why we've arranged the meeting. There will be a presentation from the Credit Union and the opportunity to ask all the questions you want. We know we're asking a lot of our supporters so we need to be happy that everyone knows what they're committing to.

Will I have to Make a Decision on the Night?
You will be able to if you want to. There are TWO stages to the process.

Stage One- join the Credit Union. This can be done by filling out a form (which will be available on the night) or by completing one on-line. You will need your National Insurance number plus either adriving licence, passport,or similar documentation as part of the usual money-laundering procedures.

Stage Two - Once you have complete your application to join you would then complete a loan application. As with stage one you can do this on paper - perhaps taking the forms away - or later online.

Finally
As you can see this meeting is a key step in our attempts to make East Fife a fan owned club as so many other Scottish clubs are trying to do or have done - Hearts, Hibs, Dunfermline etc.
Please come along on Saturday 21st and help make our dream a reality.

Thanks and Best Wishes.

The EFFS Working Group
Allan Duthie; Laura Anderson; Stephen Mill; Eugene Clarke; Liam Anderson; Paul Munro; Colin McInnes; Kerriann Paterson

https://twitter.com/CallumCarson34/status/564882728974548992

Unexpected development or another smokescreen

Any news about the meeting with the Board of. Directors which was due to take place early. Feb ? Was any progress made in terms of the two groups joining forces to make a joint bid for the Club ?

I was thinking the same. I`m certainly wanting a much clearer idea of what is happening before I commit to any high APR Credit Union loan and a lot of people that I have spoken to are of the same opinion.

Had a meeting taken place then I'm sure the EFSS working group would have let everyone know asthey have been excellent in emailing and posting information on AFTN. I think what you can take from the lack of update is the Gang of Four have not responded to calls for a meeting, despite several dates being given.

Stuart, Have you ever thought why your wife was not accepted as a board member for the trust. I do not know why for certain by would assume that it is because she has you as a husband. While there has not been a bad post for a week or so now you have to come up with some reason to gripe. Why do you not ask the Trust or the Club if such a meeting has taken place instead of posting your usual bile. Having said that you could go to the club and ask them face to face, no I don't suppose you have the guts for that. You really are a loathsome prick. I suppose I will get a dozen replies telling us all what a nice guy you are and have the club at heart.

I should imagine that the Trust Management want as many interested parties and potential donors to attend this meeting to establish 1. exactly what the current state of affairs is with regard to the Trust bid. and 2 .what can the Credit Union do to attract potential investors.
Most fans I speak to would prefer a joint fan bid with the current directors.

The problem with S-Pat.s comment is that it could be construed that he has insider knowledge that there is in fact no common ground between the Board and EFSS. If this is the case , and supporters do not wish to attend to hear only what the Credit Union has to offer,the attendance will be badly affected.

Sammy, if people don't want to attend because the directors are not involved, they have to ask themselves how staying away will help matters. The directors presented their own bid, and no-one followed. It didn't work. Supporters did not back it, and there was suspicion over the way it was presented. It died, quietly.
An alternative has been proposed now, by other people, and the directors now have the choice of backing it or not. They might, they might not. If they do not back it, it is not the end of the world. They are only four people. If the supporters are going to buy out the majority shareholding, they need support from far and wide, in much greater numbers than four people. Those four people would be a big help, but so far they have only given the impression that they want to remain in charge rather than share control of the club. That impression might be false. It it is false, they need to correct it as soon as possible. Saturday would be an appropriate time to do that.
I am sure there will be an update at the meeting about discussions with the directors. Anyone who genuinely wants to help the club should want to hear what that update is, for better or worse. If the directors do not want to be involved, I would like to know why. If the reason is because they want to go it alone, or they don't want to work with Trust people, then that will be a shame but we then have to move on and remember that if we all felt that way, there will be no takeover.

Out of order Obvious or whatever your real name is. I don't appreciate being called a loathsome Prick on a public forum. Your post has a certain irony in me not having the guts to ask the club face to face, when you don't identify yourself. I have asked the club face to face at the EFFC AGM, EFST AGM and the fans meeting that was held last year to try and get fans on board for the Gang of Fours bid to buy the club.

Happy now Obvious? We're talking about you again rather that the club. Got what you need now - that little bit of attention, that feeling of being noticed. Good. There there. Well done you. It would be nice if you could contribute to the forum rather than use it to get the attention you seek - maybe one day eh.

Funny how you need to be noticed but won't name yourself. What's the term for that again....I'm sure it's been pointed out to you over the years.

As for discussing the whys and why not's regarding folks marriages - it's really pointless, pretty petty and not for a forum on East fife. I know you are struggling with your dysfunctional social skills but surely you must realise this type of personal comment is not warranted or relevant.

I hope you can find a way to engage and contribute to the east fife discussion but in the meantime could you try keep your social inadequcies to yourself rather than pollute the east fife forum?

You have just given him/her the attention you have suggested he craved!

Well here's one reply saying there's only one loathsome prick posting bile on this thread and it isn't Stuart. (Or me, before you make the inevitable lame comeback.)

Putting the above juvenile bickering aside can we PLEASE get as many individuals with the interest of East Fife Football Club at heart to attend tomorrow's post match meeting.
We need a show of strength from the supporters.

Any updates from this? Working all weekend.

The Go4's accountant has advised them that the land sale has no bearing on the valuation of the asset they are buying. The accountant was present and defended this statement with some vigor. If the money from the land sale was sitting in the bank account at the point of acquisition, or the money had been used to reduce the debt, then indeed the valuation would remain unchanged...: however, we understand the money is being used to see the club through to the end of the season - i.e. It's getting burnt through day by day. How much will be left at the point of acquisition remains to be seen. The accountant would not be drawn on the £0.8M valuation of the club.

The same accountant seemed to suggest that the lack of response to the due dillengence request was irrelevant since the club accounts are available. If she really believes that the summar yaccounts from May 2014 answer the questions being asked then she is very much mistaken. The question over the £150k from the Rangers money has not gone away and in time I suspect the question on what happened to the £110k land sale money will also be raised. The lack of financial transparency is concerning.

Dave Marshall suggested that stabilising the club for next season was a task that was somehow at odds with forming a joint bid with the EFSS. He also stated that the Go4 were too far down the line with their bid to withdraw or amend it (even though the landsale and SFA ruling have occurred since the heads of terms agreement). Marshall also stated that he understood the EFSS request for the Go4 to withdraw was so that the EFSS could go ahead with their bid. The EFSS rebuttle was immediate - the withdrawal request was so that a JOINT bid between EFSS and Go4 could go ahead.

It seems that the Go4 have not chanced their mind regarding working with the EFSS. And I'm begining to think they never will

There was some discussion on the artificial pitch. It looks like the EFSS are actively lobbying to get the pitch to bayview but there are obstacles to be overcome. Relations between the EFSS and the BoD seem stronger on this matter.

There was a presentation from a credit union guy. I don't recall his name but he looked like a Simon or possibly a Nigel. The coatings for anyone wanting to take this up look ok. Something like £25 a month for 5 years - if 100 fans sign up then that would raise cover funding of £100k.

It was mentioned that the Go4 were interested to hear how much was likely to be raised from the EFSS. I'm not sure why this matters. If the Go4 are only willing to work with the EFSS because of the funds they bring to the table then that is hardly the basis from which a good working relationship can be built.

I think those on the EFSS board have done a pretty decent job. They have a business plan in place with a decent looking operational budget scoped out. They have reached out to potential funding sources to try get the finances in place to buy the controlling stake and inject working capital into the club. They have developed a viable plan to bring and operate a plastic pitch at bayview. And they have done all they can do to try and bring the Go4 on board with a combined bid.

Sadly the Go4 seem determined to go their own way. A bid that is overvalued, and underfunded. A bid that seems to be only a rental agreement that serves the owner, serves those that seek director privilege but sadly does not serve the fans who desperately need to see the club free of Rankine to progress.

The Go4 rental bid is in the way of a better East fife. There will be no rival bid from the EFSS. If the Go4 go it alone they alone will have to bare the discontent of a support who will no longer tolerate a failing club

Your posts may have had some credence if only you refrained from your several jibes at the current board members. It is a totally one-sided view which hails the people on the EFSS working group, at least one of whom who is connected to another AFTN poster who regularly slates the directors, very similarly to the way you do.

This is no way to make a case G-Mal, it is only serving to divide the directors and the EFSS, as well as many neutral supporters who may just think, there is no way I am going to be a part of this. Hopefully, the majority of the working group do not hold similar views to yours with respect to the directors, otherwise the whole EFSS bid will grind to a halt because it is really going to be very difficult for them to continue without the support of the directors, with regard to having sufficient funding.

Before you can hail the EFSS, we will have to wait and see what funds are actually raised and it is no wonder that the directors think that way as well.

Finally, what are the EFSS intending to offer as a bid at the moment? Nobody actually knows that figure I believe? I am sure they must know themselves, so what is it? At least we would know what is ahead of us, as potential contributors to the cause.

Therefore, in my view, the only realistic way forward is to work with the directors which means stopping the constant criticism of everything they do. I believe that the vast majority of sensible fans would prefer a joint bid and one where TRUST between each group is assured. How can there be that trust, when you post what you just have?

I do believe that the majority of the EFSS working group are reasonable people, so I am hopeful something can be worked out with them and the directors. If any members of the group hold views that are hostile to the directors, then they should resign immediately, because they do not represent the views of the majority of the supporters and they could be the ruin of any fans involvement actually coming to fruition.

If you could quote my criticism of the directors I'd be keen to debate it with you.