Key Points From The HSL Q&A.....

[Mikey]

I mentioned earlier that the questions put to Hibernian Supporters Limited will be answered in full over the weekend but there were some points in particular that they would like everyone to be aware of......


- HSL will be providing a proof of ownership certificate which is the legal equivalent of a Share Certificate, it is called a Membership Certificate. It can be put on the wall in the same way as the Share Certificate and will have the Club Emblem and HSL logo.


- Fully democratic and Founding Directors will resign after 3 years. New Directors elected by members.


- HSL have a legal entitlement to nominate a Director to the main Club Board on achieving a 20% stake in HFC.


You can also see their Articles Of Association here if you fancy a wee read.......

http://hiberniansupporters.co.uk/assets/articles-of-association-of-hsl.pdf


As I've mentioned elsewhere it would be worth waiting to see what they have to say for themselves before shelling out on IFA fees.

[greenlex]

Good stuff. It all seems to be coming together. I think I am in.

[Hibbyradge]

Good stuff.

[green day]

Bump.

Think the bit about "getting a certificate" will help some people who were worried they were paying into a faceless pot.

All sounding better by the day.

[Pete]

Bump.

Think the bit about "getting a certificate" will help some people who were worried they were paying into a faceless pot.

All sounding better by the day.

Agree. People who criticise the HSL scheme pick holes when it comes to ownership of shares etc...but I don't think that's really what it's about.

People just want to help but wouldn't mind something tangible. Now we have "something to hang on our wall".

[marinello59]

Agree. People who criticise the HSL scheme pick holes when it comes to ownership of shares etc...but I don't think that's really what it's about.

People just want to help but wouldn't mind something tangible. Now we have "something to hang on our wall".

I'm thinking of HSL as more of a fans co-operative, there does seem to be more strength in us grouping together to gain one powerful voice than having hundreds of individual shareholders. I was going to go down the route of directly buying shares but HSL is looking more attractive now.

[lucky]

I'm thinking of HSL as more of a fans co-operative, there does seem to be more strength in us grouping together to gain one powerful voice than having hundreds of individual shareholders. I was going to go down the route of directly buying shares but HSL is looking more attractive now.

The cooperative model is what I've being saying HSL is from the start. The 20% shareholding gives HSL a seat on the board. There is nothing to stop BuyHibs following suit if they get enough backers. If as supporters we want a greater say in our club then HSL is a vehicle to do it.

[green day]

The cooperative model is what I've being saying HSL is from the start. The 20% shareholding gives HSL a seat on the board. There is nothing to stop BuyHibs following suit if they get enough backers. If as supporters we want a greater say in our club then HSL is a vehicle to do it.

That's actually an outstanding point I hadn't considered.

If any other group want more of a voice, they can now buy one (your 20% comment) - again, more transparency.

[BroxburnHibee]

I was a fierce critic of the BuyHibs proposal mainly because of the way they launched and then because they clearly didn't have the skill set to see this through.

HSL looks like it's pretty much the same proposal but with a far more professional feel about them.

One thing which confuses me though people are now saying HSL would automatically have board representation when it reaches a 20% holding yet HOH/BuyHibs (I can't remember which) were spouting of about us having no representation even at 51% holding!!!!

Which ones the fact?

[marinello59]

I was a fierce critic of the BuyHibs proposal mainly because of the way they launched and then because they clearly didn't have the skill set to see this through.

HSL looks like it's pretty much the same proposal but with a far more professional feel about them.

One thing which confuses me though people are now saying HSL would automatically have board representation when it reaches a 20% holding yet HOH/BuyHibs (I can't remember which) were spouting of about us having no representation even at 51% holding!!!!

Which ones the fact?

Take a wild guess.:greengrin

[BroxburnHibee]

Take a wild guess.:greengrin

I forgot to put a smilie :tee hee:

[HibbyDave]

I understand that HSL will buy shares in Hibernian FC every time the HSL bank account tops £10000.
A couple of Q's :
Who are the directors of HSL?
What name will appear on the share certain they purchase?
If/ when HSL is wound up( having bought all shares they feel they can) it says in their articles of assoc that the shareholding Must be passed to Hibernian Community Foundation ( offices in ER). Who owns the foundation?
Why is there two classes of membership of HSL?
Lastly, if it is just a donation why not buy a spare season ticket?
If you want or need something to put on your wall send a donation direct to the club, ask for a letter of acknowledgment and hang that on the wall( it'll be worth about as much the shares).😄

[ano hibby]

So with 2 supporters reps about to be appointed plus one HSL member at 20% there could be 3 fans reps on the club Board. That's quite a change in thinking and could make quite a difference.

[Mikey]

One thing which confuses me though people are now saying HSL would automatically have board representation when it reaches a 20% holding yet HOH/BuyHibs (I can't remember which) were spouting of about us having no representation even at 51% holding!!!!

Which ones the fact?

Both I would say. BuyHibs were hostile whereas HSL are working with the club to achieve fan ownership and have an agreement with STF that they'll get a board member when they reach 20%.

[marinello59]

I understand that HSL will buy shares in Hibernian FC every time the HSL bank account tops £10000.
A couple of Q's :
Who are the directors of HSL?
What name will appear on the share certain they purchase?
If/ when HSL is wound up( having bought all shares they feel they can) it says in their articles of assoc that the shareholding Must be passed to Hibernian Community Foundation ( offices in ER). Who owns the foundation?
Why is there two classes of membership of HSL?

There isn't really, the Directors just get a different designation. Or that was my reading of the Articles. Might be wrong, I often am. :greengrin

[marinello59]

Both I would say. BuyHibs were hostile whereas HSL are working with the club to achieve fan ownership and have an agreement with STF that they'll get a board member when they reach 20%.

Not meeting with the board was the biggest single error they made IMHO. I really don't understand why they won't back this scheme as it goes along pretty much the same route as theirs and ties in with their mission statement on their website. Although the statement may have just been the views of one of their Directors as their Chairman does back HSL.
It has to be borne in mind that owning 50% of the club may take some time. It would have been easier I suppose to offer a certain %age to the ordinary fans at an affordable level and the rest to much larger single investors. This way seems to be a way of ensuring that any fan who wants to can get involved. That's why the 20% figure is so important in my view, it something that should be achievable in the short rather than medium to long term.

[Mikey]

Not meeting with the board was the biggest single error they made IMHO. I really don't understand why they won't back this scheme as it goes along pretty much the same route as theirs and ties in with their mission statement on their website. Although the statement may have just been the views of one of their Directors as their Chairman does back HSL.
It has to be borne in mind that owning 50% of the club is going to take some time. That's why the 20% figure is so important in my view, it something that should be achievable in the short rather than medium to long term.

Because the individuals involved are hostile too.

[BroxburnHibee]

Because the individuals involved are hostile too.

Yep egos at work big style.

HSL is a better packaged version of BuyHibs IMO so there objections must be personal.

[Mikey]

I understand that HSL will buy shares in Hibernian FC every time the HSL bank account tops £10000.
A couple of Q's :
Who are the directors of HSL?
What name will appear on the share certain they purchase?
If/ when HSL is wound up( having bought all shares they feel they can) it says in their articles of assoc that the shareholding Must be passed to Hibernian Community Foundation ( offices in ER). Who owns the foundation?
Why is there two classes of membership of HSL?
Lastly, if it is just a donation why not buy a spare season ticket?
If you want or need something to put on your wall send a donation direct to the club, ask for a letter of acknowledgment and hang that on the wall( it'll be worth about as much the shares).

Some of those are answered here.....

http://www.hibs.net/showthread.php?297222-Hibernian-FC-Share-Issue-The-Basics

And there will be more answers when we get the Q&A back.

[Hibbyradge]

Not meeting with the board was the biggest single error they made IMHO. I really don't understand why they won't back this scheme as it goes along pretty much the same route as theirs and ties in with their mission statement on their website. Although the statement may have just been the views of one of their Directors as their Chairman does back HSL.
It has to be borne in mind that owning 50% of the club may take some time. It would have been easier I suppose to offer a certain %age to the ordinary fans at an affordable level and the rest to much larger single investors. This way seems to be a way of ensuring that any fan who wants to can get involved. That's why the 20% figure is so important in my view, it something that should be achievable in the short rather than medium to long term.

Ego?

[Caversham Green]

I understand that HSL will buy shares in Hibernian FC every time the HSL bank account tops £10000.
A couple of Q's :
Who are the directors of HSL?
What name will appear on the share certain they purchase?
If/ when HSL is wound up( having bought all shares they feel they can) it says in their articles of assoc that the shareholding Must be passed to Hibernian Community Foundation ( offices in ER). Who owns the foundation?
Why is there two classes of membership of HSL?
Lastly, if it is just a donation why not buy a spare season ticket?
If you want or need something to put on your wall send a donation direct to the club, ask for a letter of acknowledgment and hang that on the wall( it'll be worth about as much the shares).

The directors are listed on the website - http://www.hiberniansupporters.co.uk/#team

The name on the certificates will be 'Hibernian Supporters Limited'.

I don't think there's any intention of winding the company up when it has bought all the share it can - it will just continue to exist. That clause is just there to cover the eventuality that it might be wound up. Hibernian Community Foundation is a charity - no-one really owns it.

Your point about classes of membership has been answered by others.

It's not just a donation, it's a contribution towards fan ownership - buying a spare season ticket is fine if you're not interested in that. Better still, donate to Leith Links* so that someone gets the benefit of that ticket.

*Note to Francksuzy - I promise I'll be donating in the next few weeks once I get a few other things sorted out.

[matty_f]

BuyHibs also had a capped 10% dividend which potentially meant that some of our money could leave the club. HSL will pay no dividends and the money raised will go to the club.

[NadeAteMyLunch!]

It's quite evidently Buyhibs but far, far better for the fans. Buyhibs need to stop being bitter and just accept that this is a better proposal for the people that matter...THE FANS. Grow a set and stop being destructive towards the club you're meant to love.

[emerald green]

There's an article in the sports pages of today's Scotsman advising that Hibernian yesterday revealed that 700 fans had already noted an interest in backing HSL, on their website.

It goes on to say that the response has delighted the board of HSL, and then quotes Kenny MacAskill MSP (chairman of the board of HSL).

It quotes him as follows (I've not included everything in the article, for brevity):

"HSL was only launched a matter of days ago, and we have done no promotion beyond that. We've already seen almost 700 people take the time to note interest on our website - and that is a clear demonstration that Hibs supporters are willing and eager to back the opportunity that is being presented to them."

Another very important point is made in this article. It says that HSL is keen that all supporters get the chance to take part (i.e. contribute) and so those who can afford smaller monthly contributions (than £18.75pm) will also be accommodated.

I may have missed the bit above in bold somewhere along the line, and I'm not sure if this is widely understood and "out there". IMO this is very important, as it may enable many more people to contribute than may have otherwise been able to do so.

[Hibbyradge]

Another very important point is made in this article. It says that HSL is keen that all supporters get the chance to take part (i.e. contribute) and so those who can afford smaller monthly contributions (than £18.75pm) will also be accommodated.

I may have missed the bit above in bold somewhere along the line, and I'm not sure if this is widely understood and "out there". IMO this is very important, as it may enable many more people to contribute than may have otherwise been able to do so.

i didn't realise that either. I thought the minimum was £18.75 pm.

Does that mean that someone who can only afford say £5 a month, will just have to wait 3 years 9 months to get their certificate?

At £1 per month it would take 18 years and 9 months. Quite a nice gift for a new born Hibby! :greengrin

[emerald green]

i didn't realise that either. I thought the minimum was £18.75 pm.

Does that mean that someone who can only afford say £5 a month, will just have to wait 3 years 9 months to get their certificate?

At £1 per month it would take 18 years and 9 months. Quite a nice gift for a new born Hibby! :greengrin

:agree: :greengrin Me too. I think it's important to get it well publicised that HSL is keen that all supporters get the chance to take part and so those who can afford a smaller monthly contributions will also be accommodated.

I have to stress that I've simply lifted this straight from The Scotsman article.