25 June 2013 09:31
terms of acceptance etc

DFCSS and the DFC Board of Directors are delighted to announce and inform its fan base/sponsors and commercial partners that Heads of Terms relating to acceptance of the investment proposal by Football Partnership Scotland (FPS) has been sent for assessment to all relevant parties.The thrust of the Heads of Terms covers all significant aspects, many which have been agreed already or suggested by FPS partners/investors. It is now very much the wish, hope and objective that these Heads of Terms evolve into a formal agreement. DFCSS and the DFC Board will of course allow the now hoped for very probable investors the timescale to discuss these Heads of Terms and will update further once we’ve effective and formal feedback is received from the overall Consortium.A direct result of this investment approach has seen DFCSS re-assess its objectives and structure. If the previously scheduled SGM had been held today, only 1 new member would have been elected. Further in the past two-week 2 Directors have resigned and the DFCSS would have been unable to function. Therefore also at today’s meeting the following was also agreed for immediate action and implementation: Election of new directors; Calling an SGM, co-opting rules agreed, quorum establishment agreed.In addition to this DFCSS has been hugely grateful and pleased that an informal but highly effective Development Committee has evolved and is now working on a full proposal to modernise all aspects of DFCSS, it is also seeking integration with all supporters groups and significant progress is being made.The SGM to be called will elect new members and it is very likely that the Development Committee members have the relevant skills set, which DFCSS needs now to modernise both effectively and quickly.New investment is now very likely and effective change is in process, the DFCSS looks to evolve once more into a proactive fan led, fan driven organisation; shaping, influencing and implementing activities and projects on behalf of the club.And we must reflect that given the hugely challenging financial landscape Scottish Football is currently undergoing DFC must ensure that this much wanted investment comes on terms that does not affect the long term viability of Dundee FC.

Source: Dundee Mad