While a majority shareholding is up for grabs, Mr Scott's shares are not part of it. Instead, he tried to acquire these shares on two occasions - without success.
In a statement today, Mr Scott said:
"I have tendered my resignation as a director of St Mirren Football Club, effective from Monday, May 10 2010. However, I still retain my 15,224 shares in the club. The decision to resign has not been taken lightly and I have taken some time to reach the decision.
"I no longer feel I am in a position to contribute as much as I would want to the running of the club following the decision by a consortium of other board members to sell a majority stake in the club.
"On two occasions over the last 4 years I have offered to buy shares from other directors which would have given me a majority shareholding in the club. Both these offers have been rejected as they reckoned that the shares were worth more.
"The more recent offer was made in February of this year when I offered to buy the consortium’s shares at a price which I believe would have matched the average price paid per share by the members of the consortium and would have allowed me to invest some money in the team.
"With the consortium of directors still trying to find a buyer I have found it increasingly difficult to be able to contribute to taking the club forward in a meaningful way since I am now in a minority and have little influence in the future of St Mirren.
"I have enjoyed my seven years as a director of St Mirren and feel I have, along with the other directors, made a major contribution to the positive position the club is now in, being debt free, in a brand new stadium and with a new dedicated training facility.
"There are a lot of good people at the club and I wish them and St Mirren every success in the future and I look forward to continuing my support from the West bank."
The interesting part concerns his attempts to buy shares. it seems he made an offer long before the consortium put their collection up for grabs, then made another offer earlier this year.
You can see both sides of his point about offering the directors what they paid for their shares. On the one hand, they'll get their money back after claiming they'll not be difficult. On the other, they've been here for 12 years and probably feel they deserve a profit. If you bought a house and sold it a decade later, you'd get more than you paid for it (before the recession you would have anyway).
What now for Mr Scott? Will he launch another bid for the club with some more parties, or will he be heading elsewhere?
Rumours suggest that Mr Scott, who joined the board in 2003, was a firm supporter of Gus MacPherson and his departure may have been a prelude to the manager leaving today. By coincidence, they both joined the club the same day and seem to have left at almost exactly the same time!