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Apparently the first meeting was met with 100% agreement as was the second. No surprises there. Press conference later this afternoon which will no doubt put more detail into this, but it is looking like we will be free of all restrictions placed on us and free to operate as a normal business immediately. Crucially that means the club can sign players and look to build the squad ahead of the 2025/26 season. BDO looking to get everything wrapped up in the next 28 days or so.

I know the number, it's in the document that was presented to shareholders but not sure if that is confidential until the dust has settled or not so not going to post it just now. Great article in the P&J from Paul Chalk noting that Alan Savage credited Tommy Cumming with part of his inspiration to save the club!!! https://www.pressandjournal.co.uk/fp/sport/football/inverness-caledonian-thistle/6771305/caley-thistle-to-exit-administration/?fbclid=IwY2xjawKum5pleHRuA2FlbQIxMQABHj_dIZoT-d6P6y3Ig5X7mr64Ukiscz4O0N6CA98YUifYdYVIF1mzfnNVZ6SO_aem_zkwAAdABFSQQv4ycZ1NnDA A few key quotes from that article: “It is a big job and a big responsibility and I’m really looking forward to it. To bring the club control, governance, order and to let the playing side of things, under (interim chief executive) Charlie Christie, (former vice chairman) Graeme Bennett and Scott Kellacher succeed – and try to get us into the Championship through next season, using the academy players, local Highland League players, some other Scottish players and maybe a couple of marquee players. “The club will be a football club, no distraction, completely focused.” “I think there was a moment of epiphany when I came in and first got involved with some of the detail of what was going on. I spoke to Dale Stephen, the groundsman, and he remind me that Tommy Cumming, the past groundsman whose ashes are on the pitch, had told Dale that ‘Alan Savage would never let the club go (under)’. That was a big responsibility. Tommy was a great character and it struck me the club means a lot to a lot of people. I felt duty-bound to make sure the club continued. So everyone can thank Tommy Cumming.” “I’m looking forward to running the football club for the benefit of all the people who work here, the players, and the local community and stakeholders.”

Going by the document dated 19th May, circulated to (ex-)shareholders, and to be approved today, RM does indeed lay claim to £0.00 in relation to both the floating charge and the 'pledge over shares held by borrower'. Thats a pretty hefty concession and while he has been vilified over the last year, I stick by my original opinion which is that he was a supporter first and chairman second. He was one of few who had money, and is guilty of putting his trust, and extreme loyalty in, someone who was unable to deliver on the promises made rather than anything else. He definitely deserves criticism for that, but it also cost him £1.65m Lots of stuff in the document, much of it positive, and much of it also showing how much Alan Savage has done (and ploughed into the club) since October. It also shows how apart from Ross Morrison, other directors have also written off debts and loans that in the end totalled somewhere in the region of £3.5m. These write-offs allow a higher proposed dividend for unsecured creditors which is better than they perhaps anticipated. Not going to post the full document given that various meetings take place today, and the press conference takes place later this afternoon. All-in-all, from a personal point of view, I thank Ross for what he did and what he has done in relation to the loans and really thank Alan Savage for what he has done until now and appears to be willing to do for the foreseeable. It is clear from the document that without AS and his money since October (and RM not insisting on payments) this is a liquidation event not administration. Just re-read the document and the timeline for today is clearer. 11:30 AM - Creditors Meeting 2:00 PM - Shareholders / Members meeting 3:30 PM - Press conference has been brought forward 1 hour from 4:30 PM/. edited to add: got my link to join the 2pm meeting so will report back afterwards

Great to hear how things have gone with the process and to hear Alan speak about moving the club forward is so different to a year ago. A year ago I refused to buy my season ticket along with many others until a certain person left the club but I am looking forward to renewing this year!

Here’s it in the flesh so to speak….

Little snippet from today's press conference with Alan Savage talking about coming out of administration ... testimonial to be organised for Aaron against Ross County.

That quote from Alan Savage also reminded me of another part of the CVA document. There is an entry in there to say that someone who recently passed left the club £50,000 in their will. Not sure who it is, but the club got £10K so far with a further £40K to come from the estate so thank you to whoever that was.

Will the press conference be streamed live, or made available to watch shortly after?

Oh well today is the day that we hopefully get approval to come out of Administration. Let’s hope that’s there’s not any last minute hitches.

It's a) - I raised this question when it became known that Ross Morrison had put securities in place as the previous resolution allowing it had expired. This is the administrator doing further tidying up of the records/filings. What it does mean is that those securities were/are likely 'legit', as shareholders had given permission for them to happen at the AGM. That also means he won't be included in the CVA, so any fear anyone had that he could sink that process are removed... although from what we've been told, it seems he's already agreed to forego his rights to repayment, regardless.

Posting this in the main forum as it affects everyone and not everyone reads all the various other forums! Take a read and feel free to ask any questions you may have in the thread below. I will be upgrading the site to a new major version of the forum software during the summer. The look and feel of the site will not change too much, but some features may be added or deleted based on the capability of the new software. I will also take the opportunity to merge or migrate certain portions of the site based on feedback from a few people. Here is one major change that will definitely affect everyone .... You will no longer be able to login with your display name (username); you must use your email address. This is a security feature and in preparation for this change we would encourage all users to make sure your email address in your account is up to date and valid. You can check/change this within your profile here: https://caleythistleonline.com/settings/. Not sure when we make that switch, but you can already login using your email so you may want to get into that habit and if necessary change it to a current one and/or reset passwords etc. Other changes in the software that I don't think affect too many people or may not be that major to most users include: Status updates have been removed in v5. Open tagging has been replaced with a new system in v5. Facebook & Twitter social promotion has been removed in v5. (mainly used by our admins) Forums: Q&A mode has been removed in v5. From a design perspective, we hope to retain most things but may prune older posts and content as the database is pretty huge and can cause things to slow down here and there. The older posts would still be visible, and searchable, but images or links may no longer work once archived. This preparatory work will start before we migrate to the new version as we don't want to migrate a whole bunch of stuff we will no longer use. We have confirmed with both the Supporters Trust and the Travel Club that they will have their own mini-sites (labelled as Clubs in the new version of the software). This will allow those groups to manage and maintain their own area, have a separate forum area, gallery, blog, event calendar etc but all be accessible and searchable by users from the main forum listings and 'unread content' search. We are open to any other niche forums being converted to clubs and/or adding new areas - for example, might we benefit from having a separate area for supporting the women's team? Open to ideas and or development/growth in that area. Send me a note if you think of something that might be worthwhile considering. Our stats program (https://stats.caleythistleonline.com) is getting old and while it will continue to be maintained and available on the site for the foreseeable future, we really need to get it updated to PHP8 compatibility. This will either cost us a fair bit of cash to get the original developer to do it (£750 - £1000) or we are always on the lookout for someone in our user list who has the skills to do it. I can dabble and tweak, and know just about enough to get into trouble with things, but I don't have the ability to do a full conversion. If you know anyone who would like to sponsor this upgrade (and would receive advertisements/accreditation on the stats site and pages) or someone who has the skills to donate their time to update this resource let me know. Once updated, we are happy to maintain it on a weekly basis and would even be happy to once again share it with the club as we did before (This was one of the ties that was severed by Rae/Crook a few years ago). Other than those tweaks, I don't think there will be a huge amount of change.

Ethan Cairns has joined Inverurie.

Great news. Will be raising a celebratory glass (or two) tonight.

Bill was close to £600K of which they appear to be seeking £325K in total. It's a high number but based on reading the document it does sound like our fractured structure was very complicated to unravel so presumably this is all warranted. 300K seems to be the fees for administration itself and the 25K seems to be for the period from now until everything is wrapped up. Thats a capped fee so will not exceed £25K. Reading the CVA document it said that the funding provided by AS would not only pay the preferential and secondary preferential creditors as well as unsecured creditors, but it noted: "The funding will also enable the costs and expenses of the Joint Administrators (so far as they are unpaid), unpaid legal fees, and those of the Joint Supervisors to be settled". Basically, AS is footing the bill for administration and the wrap-up period as part of his current and additional funding put into the club. There may be nuances in there, or maybe I misunderstand some things (?) but bottom line is that if AS is happy with the numbers then I think we can be also since he is the one opening the wallet ! I just look forward to seeing this footer on the club website being removed

The 2pm meeting was a bit strange tbh - the letter I received implied it was to review and hold a vote (I didn't send back the proxy form that was with the letter), but there was actually nothing to really review or discuss. Given I'm no longer technically a shareholder, I guess I didn't actually have a vote anymore anyway! But as Scotty says, we seem to free to proceed - look forward to hearing more about it. And then someone can maybe ask what the plan is to pay off the whopping administrator's bill when we're already short on money?

Definitely a) and likely b) and c). Not d)!

Press conference is soley to announce return of Lionel Nessi. Nothing else will be discussed.

I hope not. Not if they are 5 mutual friends of Scotty!