Hibernian Supporters Limited Press Release

[greenginger]

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The 5m debt is made up of two components......3m to,STF that has been outstanding for years and am told 1.8m is the number paid to settle bank debt.

right now the solution is pay off 5m over ten years hopefully with the aid of shares issue scheme.

The club made a loss of 1.2m last year and has had only one year of profit since 2010. Yet many people on here say the debt is manageable and seem to ignore the constant losses backwards.

Now, STF says he is in favour of community ownership and sets the 500k pa payment and a value on the club of 5m.

i think STF should at the very least park the initial debt of 3m until at least 2 consecutive years of profit and only take payment on the 1.8 he recently spent.

This would mean that the 500k would become 200k pa payment until the club was back in profit.

Its there in black and white in the accounts that the club over borrowed and was only able to make payments by borrowing again to pay the bank loans.

Until we all agree that position then the various groups will fight with each other and this share offer will only buy a bit more time in my opinion before a bigger problem comes along.

I don't see where you get the figure of £ 3 million being due to STF (presume parent company ) for years.

2011 accounts , clause 19, inter company balance £ 1,250,000 ( 2010 - nil )

And that was mostly the cost of the new East Stand , I see no £ 3 million.

[Bostonhibby]

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The first thing I would do is in my reply to G........plus

HSL is meant to negotiate as an independent body with club...........many people on here Caversham, Crops to name two seem to think what i have said to G is nonsense and that there is no conflict having LD as CEO of HSL.

I believe there is conflict as the CEO should be leading what i just described.

you can either agree or disagree......it a choice each of us has to make.

HSL articles of association are pretty clear about why it exists and the limits of its purpose - not really a business.

Are you telling people here that in your experience there is some sort of conflict in Dempster holding a position in more than one organisation? Are you saying that a conflict automatically arises in this position or is it just this one you don't like?

If it is just this arrangement let us know what the conflict actually is here as it might help stem the flow of people using their own instincts to sign up to the clubs plan.

[CropleyWasGod]

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I don't see where you get the figure of £ 3 million being due to STF (presume parent company ) for years.

2011 accounts , clause 19, inter company balance £ 1,250,000 ( 2010 - nil )

And that was mostly the cost of the new East Stand , I see no £ 3 million.

Don't have the accounts in front of me, but from memory the amounts due to HFC in total increased by 1 or 1.5m between July 2013 and 2014.

That probably increased again before December, if I heard RP/LD right last week.

[matty_f]

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The first thing I would do is in my reply to G........plus

HSL is meant to negotiate as an independent body with club...........many people on here Caversham, Crops to name two seem to think what i have said to G is nonsense and that there is no conflict having LD as CEO of HSL.

I believe there is conflict as the CEO should be leading what i just described.

you can either agree or disagree......it a choice each of us has to make.

HSL is not supposed to negotiate as an independent body, as far as I can see, it's sole purpose is to collect money to buy shares at a pre-agreed price.

How can a conflict of interests arise from that arrangement?

[Andy74]

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Jack,

Set up a thread to discuss finances as I agree it's a big subject and massively important one.

May I suggest a structure....

1. Agree where we have come from
2. Establish we are today.
3. Try and agree an end goal.
4. Work out a way to get to that goal.

Perhaps, that will help the various groups to come together and be united.

Or we can just get on with backing the club's plans.

Fed up of folk like you harping from the sidelines without the ability or means to do anything about it.

[Global Hibby]

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HSL is not supposed to negotiate as an independent body, as far as I can see, it's sole purpose is to collect money to buy shares at a pre-agreed price.

How can a conflict of interests arise from that arrangement?

Pre agreed price is the key Matty

LD is CEO of Hibs
LD is CEO of HSL

Pretty easy to see how the price was agreed !

i see that as a problem when agreeing a price.

[Jack]

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Jack,

Set up a thread to discuss finances as I agree it's a big subject and massively important one.

May I suggest a structure....

1. Agree where we have come from
2. Establish we are today.
3. Try and agree an end goal.
4. Work out a way to get to that goal.

Perhaps, that will help the various groups to come together and be united.

Dear Global Hibby

Thank you for the opportunity to become your secretary. I feel I must decline at this time.

I have retired, two years now almost. I know, I know, I'm far too young, still way off getting my bus pass , it was a lifestyle choice and I'm just loving it! The freedom to do what I please, when I please is one which has brought rewards beyond that which I ever thought possible. I'm so busy now and don't have the will or inclination, to phaff about starting controversial threads on dotnet that would bring nothing but grieff! Nor indeed the time to contribute to such a thread in a meaningful way.

[You didn't mention a remuneration package did you? International travel? I could make myself available for that No , maybe some other time then ]

Yours sincerely

Jack
(Ret'd)

[greenlex]

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Pre agreed price is the key Matty

LD is CEO of Hibs
LD is CEO of HSL

Pretty easy to see how the price was agreed !

i see that as a problem when agreeing a price.

2.5 million for a 50% stake in a company worth north of 20 odd million seems more than a fair price to me. How much should we be paying? Nothing? £1?

[CallumLaidlaw]

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Pre agreed price is the key Matty

LD is CEO of Hibs
LD is CEO of HSL

Pretty easy to see how the price was agreed !

i see that as a problem when agreeing a price.

Agree what price???

Step 1 - STF restructured the debt of £9.5m to £5m, which is now owed to the holding company instead of the bank. £500k a year for 10 years interest free

Step 2 - Hibs announce a share launch. New shares being produced to equate to 51% of the club. Value of £2.5m which will be spent on wages, transfer fees, etc.

Step 3 - HSL is formed simply to buy shares in the club on behalf of supporters.

Why are people trying to over-complicate things???

[CropleyWasGod]

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Pre agreed price is the key Matty

LD is CEO of Hibs
LD is CEO of HSL

Pretty easy to see how the price was agreed !

i see that as a problem when agreeing a price.

The price was decided by the Board of the club.

AFAIK, LD is not CEO of HSL.

[JimBHibees]

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Agree what price???

Step 1 - STF restructured the debt of £9.5m to £5m, which is now owed to the holding company instead of the bank. £500k a year for 10 years interest free

Step 2 - Hibs announce a share launch. New shares being produced to equate to 51% of the club. Value of £2.5m which will be spent on wages, transfer fees, etc.

Step 3 - HSL is formed simply to buy shares in the club on behalf of supporters.

Why are people trying to over-complicate things???

Because they are determined that it doesnt work.

[Caversham Green]

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HSL is not supposed to negotiate as an independent body, as far as I can see, it's sole purpose is to collect money to buy shares at a pre-agreed price.

How can a conflict of interests arise from that arrangement?

I think there is a theoretical conflict of interest (and I'm rather irritated that Global Hibby has attributed the opposite view to me) in that Leeann finds herself on both sides of the shareholder/director relationship. However, I think the chances of an actual conflict arising are too remote to concern anyone.

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Pre agreed price is the key Matty

LD is CEO of Hibs
LD is CEO of HSL

Pretty easy to see how the price was agreed !

i see that as a problem when agreeing a price.

And I can't make any sense of that.

[Eric]

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Dear Global Hibby

Thank you for the opportunity to become your secretary. I feel I must decline at this time.

I have retired, two years now almost. I know, I know, I'm far too young, still way off getting my bus pass , it was a lifestyle choice and I'm just loving it! The freedom to do what I please, when I please is one which has brought rewards beyond that which I ever thought possible. I'm so busy now and don't have the will or inclination, to phaff about starting controversial threads on dotnet that would bring nothing but grieff! Nor indeed the time to contribute to such a thread in a meaningful way.

[You didn't mention a remuneration package did you? International travel? I could make myself available for that No , maybe some other time then ]

Yours sincerely

Jack
(Ret'd)

Jack I really do think you are doing Global Hibby a great disservice what with the great work he is doing uniting fans in favour of HSL. I'm now in!

[Gerard]

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Jack I really do think you are doing Global Hibby a great disservice what with the great work he is doing uniting fans in favour of HSL. I'm now in!

[Mikey]

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Or we can just get on with backing the club's plans.

Fed up of folk like you harping from the sidelines without the ability or means to do anything about it.

He's a fantastic advert for fan ownership

[stokesmessiah]

Has anyone signed up for HSL yet?

I intended to sign up to make the monthly payments, but does anyone know when they come out ???

[madhatter]

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Has anyone signed up for HSL yet?

I intended to sign up to make the monthly payments, but does anyone know when they come out ???

I have. It said they planned to take funds on the 6th February, if I remember correctly.

[CallumLaidlaw]

I love this bit from the statement today -

It’s a win-win situation that has won the overwhelming backing of the Hibernian support at large, with fan website polls showing huge support for the Board’s plan to widen ownership.

[Mikey]

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Has anyone signed up for HSL yet?

I intended to sign up to make the monthly payments, but does anyone know when they come out ???

I've just done it right now and dead easy it was too!

I don't have a date for the first payment yet but might get that when I get the confirmation e-mail.

[stokesmessiah]

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I have. It said they planned to take funds on the 6th February, if I remember correctly.

Thank you.

[Bostonhibby]

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Pre agreed price is the key Matty

LD is CEO of Hibs
LD is CEO of HSL

Pretty easy to see how the price was agreed !

i see that as a problem when agreeing a price.

Can't see how that was the basis for calculating the price, but even if it was it seems the price is okay with many. As ever if you don't like it, no one says it's compulsory.

[Bostonhibby]

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I think there is a theoretical conflict of interest (and I'm rather irritated that Global Hibby has attributed the opposite view to me) in that Leeann finds herself on both sides of the shareholder/director relationship. However, I think the chances of an actual conflict arising are too remote to concern anyone.



And I can't make any sense of that.

Agreed, and there's a transparent conflict clause in the HSL articles so I don't plan to fixate on this concern for too long.

[Mikey]

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I have. It said they planned to take funds on the 6th February, if I remember correctly.

Yep, that's what I got too.

[CropleyWasGod]

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Agreed, and there's a transparent conflict clause in the HSL articles so I don't plan to fixate on this concern for too long.

Again. There are 5? other directors, with the possibility of more from among the members.

If there is any perceived conflict, it can be dealt with easily.

[NAE NOOKIE]

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I would if the club had sent me anything to actually fill in! Did send an e mail last week but nothing

Me too mate ..... I have sent a second E Mail today .... who would have thought it would be this difficult to give money away

[emerald green]

Thats me signed up to HSL. All very simple and straightforward. Just waiting on an email confirmation of DD set up.

Hoping there is a huge take up and that the fans become owners of our club.

[Bostonhibby]

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Again. There are 5? other directors, with the possibility of more from among the members.

If there is any perceived conflict, it can be dealt with easily.

And looking at them its fair to say they are likely to have the fans interests at heart IMO

[GreenOnions]

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Thats me signed up to HSL. All very simple and straightforward. Just waiting on an email confirmation of DD set up.

Hoping there is a huge take up and that the fans become owners of our club.

How did you manage this? I have trawled through the HSL website but have found it impossible to do. Clicking on the "Contribute" or "donate" options brings up relevant pages but there are then no options to proceed - just text. What am I doing wrong?

[kennyh]

Signed up, took a minute to confirm basic details. Confirmation came through a few mins later, DD set up for the 6th.

[GreenOnions]

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How did you manage this? I have trawled through the HSL website but have found it impossible to do. Clicking on the "Contribute" or "donate" options brings up relevant pages but there are then no options to proceed - just text. What am I doing wrong?

Ah - I have just worked out that the payment options etc don't appear when I open in Chrome. When I open in IE it works. My own settings must be wonky in some way. Process simple after that and another sign-up for HSL on board :-)