Share Transfers Agreed/Cooling off period

[Mikey]

:agree:


Summer 2013 : Darren Barr, Andrew Driver, Danny Grainger, Dylan McGowan , Ryan McGowan, Denis Prychynenko, Scott Robinson, Mehdi Taouil, Craig Thomson (currently on loan to Kaunas), Andy Webster, Marius Zaliukas.

I've mentioned before that Hearts are putting pressure on small businesses that they're due money to, to ensure that none of them take them to the small claims court. I wonder if they'll try the same ploy with players that they want to offload in January and just expect them to leave without any sort of pay off?

Mrs Stevenson will love that :greengrin

[greenginger]

Vlad owns part of UBIG and most or all of Ukio, so it's in his personal interest for Ukio to have the security. It doesn't actually boost the banks assets directly though - UBIG owed Ukio this money before the document was prepared - it's just an additional security on UBIG's assets. In HoMFC's books the debt is still owed to UBIG, but in an insolvency event the first £6.8m of the settlement would be diverted to Ukio.

Either the finacial regulator is getting nervous as greenginger suggests, or they are giving serious thought to closing HoMFC (or UBIG) down.

It might just be part of this contractual agreement to underpin the value of the basketball arena deal.https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=530143&messageId=652198

Mind you , if the only thing of any value on UBIG's books is the PBS, then they are goosed. :greengrin

[Seveno]

Vlad owns part of UBIG and most or all of Ukio, so it's in his personal interest for Ukio to have the security. It doesn't actually boost the banks assets directly though - UBIG owed Ukio this money before the document was prepared - it's just an additional security on UBIG's assets. In HoMFC's books the debt is still owed to UBIG, but in an insolvency event the first £6.8m of the settlement would be diverted to Ukio.

Either the finacial regulator is getting nervous as greenginger suggests, or they are giving serious thought to closing HoMFC (or UBIG) down.

Either way, it looks like UBIG are in serious trouble and that means Hearts really are on their own. And when UBIG go down, they will take Hearts down with them.

[18/03/07]

Could we on .net have a collection to help our gorgie tramps out and buy 1 share,say everybody puts 0.7p
Then let the cheque bounce lol

[hfc rd]

:agree:


Summer 2013 : Darren Barr, Andrew Driver, Danny Grainger, Dylan McGowan , Ryan McGowan, Denis Prychynenko, Scott Robinson, Mehdi Taouil, Craig Thomson (currently on loan to Kaunas), Andy Webster, Marius Zaliukas.



Youngsters Brad McKay, Kevin McHattie, Dale Carrick, Jack Hamilton and Fraser Mullen also have deals that end in the summer.

[Mikey]

Youngsters Brad McKay, Kevin McHattie, Dale Carrick, Jack Hamilton and Fraser Mullen also have deals that end in the summer.

Hopefully they'll keep him :agree:

[hfc rd]

Hopefully they'll keep him :agree:


Me too. Going to be a very interesting month. Like I said. If they lose all those players, they are totally f***** big time!

[Saorsa]

Players still unpaid as of 4pm.Have they been paid yet then? :dunno: I've no seen the news headlines.

[WindyMiller]

I've mentioned before that Hearts are putting pressure on small businesses that they're due money to, to ensure that none of them take them to the small claims court. I wonder if they'll try the same ploy with players that they want to offload in January and just expect them to leave without any sort of pay off?

Mrs Stevenson will love that :greengrin


There's a few there that can do a job in the SPL, but only Celtc would have the cash to pay any sort of fee.

The majority (nearly all) will just have to be allowed to make their own deals or stay on the books till the Summer.

[Leithenhibby]

Could we on .net have a collection to help our gorgie tramps out and buy 1 share,say everybody puts 0.7p
Then let the cheque bounce lol


You say this in jest :wink: but I have (and many more Hibs. Net's) many good friends from the other side of town and I think this could take off. :aok:

When WM wanted the take over, I know many J****s that didn't want it. :wink:

We could collect the money and keep it like a "safety net", just in case they need it :greengrin

[#FromTheCapital]

Have they been paid yet then? :dunno: I've no seen the news headlines.

No official word so I'm going to say no they haven't been paid yet, although if they get paid on Monday it will be seen as being on time.

[Mikey]

Have they been paid yet then? :dunno: I've no seen the news headlines.

Not as far as I'm aware.

[Saorsa]

No official word so I'm going to say no they haven't been paid yet, although if they get paid on Monday it will be seen as being on time.Surely it should be today for it tae be on time? If the due date falls on the weekend surely it should be paid on the Friday?

[Mikey]

Surely it should be today for it tae be on time? If the due date falls on the weekend surely it should be paid on the Friday?

In the real world :agree:

[Hibs07p]

STV reporting that HOMFC have confirmed all wages have been paid. There was two young hearts players dressed in training gear, in Tesco's at Hermiston Gait when I was in around 15.00. Their basket was quite empty, so maybe ayes or maybe naws.

GGTTH

[shagpile]

No official word so I'm going to say no they haven't been paid yet, although if they get paid on Monday it will be seen as being on time.

I get paid on the 28th of each month. If the 28th lands on a Saturday or Sunday, then the cash is in my account on the Friday. That ---for the benefit of any sadsack yams looking in----is before the due date, not after.:greengrin

[HIBERNIAN-0762]

So they have been paid according to STV news...hmm wonder if they're just saying that to get the embargo lifted?, would surprise me in the least as they cheat at everything else...:hmmm:

[#FromTheCapital]

So they have been paid according to STV news...hmm wonder if they're just saying that to get the embargo lifted?, would surprise me in the least as they cheat at everything else...:hmmm:

To be honest there's no reason for them not to have been paid. If they have raised at least 800k from shares that's more than enough to cover a months wages even for them. All their doing is limping along though and there are still many hurdles to be jumped

[greenginger]

To be honest there's no reason for them not to have been paid. If they have raised at least 800k from shares that's more than enough to cover a months wages even for them. All their doing is limping along though and there are still many hurdles to be jumped

May'be the basketball team needed paying first, or the Bosnian Alumina Smelter's gas bill.

Remember, if their debts are owed to themselves, then their credits are there for the rest of the UBIG Group. :agree:

[CropleyWasGod]

So they have been paid according to STV news...hmm wonder if they're just saying that to get the embargo lifted?, would surprise me in the least as they cheat at everything else...:hmmm:

The day I start using STV for my financial information is the day that Hearts sign World Cup stars.

[The_Sauz]

To be honest there's no reason for them not to have been paid. If they have raised at least 800k from shares that's more than enough to cover a months wages even for them. All their doing is limping along though and there are still many hurdles to be jumped

Remember they had to pay the 475k tax debt from the 800k :wink:

[HIBERNIAN-0762]

The day I start using STV for my financial information is the day that Hearts sign World Cup stars.

Don't get your nickers in a twist Crop, was only passing on what fester had said on the programme

[cocopops1875]

Don't get your nickers in a twist Crop, was only passing on what fester had said on the programme
Did Fester get paid ? I mean its cool if he didnt his wife works ye ken :greengrin

[CropleyWasGod]

Don't get your nickers in a twist Crop, was only passing on what fester had said on the programme

Sorry, wasn't getting at you. STV rip my knitting, though, with their ignorant and, often, wrong reporting of stuff in this and the Rangers story.

[Geo_1875]

That will have been recorded on Thursday and Fester was reading from a script.

[Caversham Green]

Did Ukio not have to take on the debt UBIG had regarding the development of the basketball stadium?
Is this UBIG dying a slow death?

Caversham your thoughts would be appreciated

GGTTH:cb

There are certainly strong indications that UBIG are struggling badly (falling share prices, failing to pay employees etc) and this debt reassigment looks like another indicator. Assuming it wasn't done just to get us Hobos all excited, the form tells us that UBIG owe Ukio at least £6.8m and that there are doubts about UBIG's ability to pay.

If it was instigated by the Lith financial regulator as greenginger suggests he would just have been looking for security on a viable asset. On that basis, if the best security they could produce was a dodgy debt due by a struggling wee Scottish football club then they really are in sheep dip. Of course, if UBIG goes under HoMFC will be liquidated.

On the other hand if it was Ukio (i.e. 'Mr Romanov') that instigated it the implications could be more sinister for the yams. It could suggest that when (rather than 'if') HoMFC goes into liquidation he wants that £6.8m paid and doesn't expect UBIG to pass it on - possibly because they wouldn't be in a position to. The timing of the reassignment, together with the specific inclusion of uncalled capital in the assets would indicate that he was seriously contemplating this course of action during or very shortly after the share offer period.

If Ubig are able to sell their majority shareholding in the club the reassignment tells us that they will either have to leave a portion of debt in place or realise at least £6.8m from the sale so that they can pay off the Ukio debt.

"He's never stopped being the greatest owner" right enough.

[Golden Bear]

I still can't see any reports in the press that they were actually paid yesterday. If they had been, then I'm sure the Yams would have ensured that the world and his dog were made aware of the fact.

[Sprouleflyer]

I still can't see any reports in the press that they were actually paid yesterday. If they had been, then I'm sure the Yams would have ensured that the world and his dog were made aware of the fact.

I think their pay day is the 16th which is tomorrow. Normally if a pay day is on a Sunday the wages tend to hit accounts on the Monday, so no real crisis at the moment. They have been spouting about paying the wages early, but no real confirmation that this has been done so far, which is a bit weird.

[#FromTheCapital]

I think their pay day is the 16th which is tomorrow. Normally if a pay day is on a Sunday the wages tend to hit accounts on the Monday, so no real crisis at the moment. They have been spouting about paying the wages early, but no real confirmation that this has been done so far, which is a bit weird.

That's the kind of statement I'd expect from a hearts player ;-)

In most jobs if your payday falls on a Saturday or a Sunday then you'll get paid on the Friday before.

Is there any confirmation of the wages being paid other than an stv report?

[Kris1875]

In today's EN that they've paid all the wages .

[weecounty hibby]

That's the kind of statement I'd expect from a hearts player ;-)

In most jobs if your payday falls on a Saturday or a Sunday then you'll get paid on the Friday before.

Is there any confirmation of the wages being paid other than an stv report?

I suppose it depends on what their contracts say. Mine says that I get paid on the 27th of each month therefore if it falls on a Saturday or Sunday so to avoid breaching my contract the company has to pay on the Friday. They may have some wording that allows them to pay on the following Monday. Not sure that it really matters to them what is in contracts though.
Just wish they would hurry up and die. They are a national embarrassment.

[RoYO!]

In today's EN that they've paid all the wages .

Cunning, pay this one on time, get the embargo lifted in time for january window, sign some players they can't afford, then go on NOT paying them for the rest of the season. No change there then...

[WindyMiller]

That's the kind of statement I'd expect from a hearts player ;-)

In most jobs if your payday falls on a Saturday or a Sunday then you'll get paid on the Friday before.

Is there any confirmation of the wages being paid other than an stv report?



Can't see any mention of it.......................http://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&ie=UTF-8#q=hearts+players+paid&hl=en&tbo=d&tbs=qdr:d,ctr:countryUK%7CcountryGB&tbm=nws&source=lnt&cr=countryUK%7CcountryGB&sa=X&ei=nlLMUOZy58bRBfj_gZAN&ved=0CBgQpwUoAQ&bav=on.2,or.r_gc.r_pw.r_qf.&bvm=bv.1355325884,d.d2k&fp=d6fea12eeb791b37&bpcl=39967673&ion=1&biw=1280&bih=675

[weecounty hibby]

In today's EN that they've paid all the wages .
Have they got the open topped bus ready for their parade in celebration. All of the players could go on top and hold up their pay cheques. Embarrassing that they see being paid as something news worthy. Maybe we should do that every month as well, release a statement to the press saying that all of our players and staff have been paid on time.

[Woody70x2]

Paulo Sergios cardigan have the masses over the road wetting themselves... They are a sad bunch of individuals.

Wonder if a ***** from Sergio in a glass box would have them just as excited. Might send the organiser one with a picture of him signed.

[Golden Bear]

From todays online version of the Evening news which is slightly different.

:confused:


http://www.scotsman.com/sport/football/spl/hearts-relief-as-club-set-to-avoid-festive-wages-crisis-1-2691243

Or could it be that the online version has not been updated yet?

[Danderhall Hibs]

In the real world :agree:

If my payday falls on a Sunday i'm fairly sure i've been paid on the Saturday. Never on the Monday.

Are we talking about them getting November and December wages or have the players forfeited November?

[Russell The Dug]

If my payday falls on a Sunday i'm fairly sure i've been paid on the Saturday. Never on the Monday.

Are we talking about them getting November and December wages or have the players forfeited November?


They where paid last months wages last week.

It seems ironically the Scottish cup tie amoungst various other begging missions has saved them this month.

[Saorsa]

They where paid last months wages last week.

It seems ironically the Scottish cup tie amoungst various other begging missions has saved them this month.they'll be in trouble next moth though, no much income before the 16th.

[Golden Bear]

They where paid last months wages last week.

It seems ironically the Scottish cup tie amoungst various other begging missions has saved them this month.

They wouldn't have had much left after the deductions for the amount of damage that their so called fans caused.

[CropleyWasGod]

They where paid last months wages last week.

It seems ironically the Scottish cup tie amoungst various other begging missions has saved them this month.

They have a PAYE payment due on the 22nd.

[CropleyWasGod]

they'll be in trouble next moth though, no much income before the 16th.

:agree:

VAT due, I believe, on the 7th.

PAYE due on December's wages and, if they have been paid, the deferred November wages, on the 22nd.

[Leithenhibby]

From todays online version of the Evening news which is slightly different.

:confused:


http://www.scotsman.com/sport/football/spl/hearts-relief-as-club-set-to-avoid-festive-wages-crisis-1-2691243

Or could it be that the online version has not been updated yet?


Still not confirmed though!!.... as stated in the second paragraph :wink:

[Mikey]

Still not confirmed though!!.... as stated in the second paragraph :wink:

:agree:

[Kato]

Still not confirmed though!!.... as stated in the second paragraph :wink:

That article was published yesterday.

I think there is far more wriggling to be done by the Jambos yet. They'll sign Vlad's latest find, they may even re-sign Ruddy. However a steady decline awaits them. I doubt things are going to come to a sudden halt for them. Despite predictions UBIG are still around, UKIO BANKO KIRKUS are still in business and HoMOFC are still full-filling fixtures.

Suits me as I want a steady decline with the opportunity to hammer them a few times. The idea that all of a sudden they are going to enter liquidation seems a bit over the top considering they have become such expert wrigglers.

[Jack Hackett]

Now confirmed...apparently

http://www.scotsman.com/sport/football/spl/ban-set-to-be-lifted-as-hearts-pay-players-1-2693855

[Leithenhibby]

That article was published yesterday. :aok:

I think there is far more wriggling to be done by the Jambos yet. They'll sign Vlad's latest find, they may even re-sign Ruddy. However a steady decline awaits them. I doubt things are going to come to a sudden halt for them. Despite predictions UBIG are still around, UKIO BANKO KIRKUS are still in business and HoMOFC are still full-filling fixtures.

Suits me as I want a steady decline with the opportunity to hammer them a few times. The idea that all of a sudden they are going to enter liquidation seems a bit over the top considering they have become such expert wrigglers.

I agree, as the foundations of Vlad's empire start to show signs of cracking :greengrin "easy as she goes"....

With very little cash in Jan it will be interesting to see how they will keep wriggling as they have.

http://www.scotsman.com/edinburgh-evening-news/football/hearts/ban-set-to-be-lifted-as-hearts-pay-players-1-2693855

[monktonharp]

Now confirmed...apparently

http://www.scotsman.com/sport/football/spl/ban-set-to-be-lifted-as-hearts-pay-players-1-2693855I dont really get that. it says they have been paid for december, and yet it also says that the players were brought up to date, re-the deffered wages?!! have they been paid for november? or just brought up to date? still somethin' fishy gaun oan imho.

[BarneyK]

I dont really get that. it says they have been paid for december, and yet it also says that the players were brought up to date, re-the deffered wages?!! have they been paid for november? or just brought up to date? still somethin' fishy gaun oan imho.

It suggests that the November and December wages have now been paid in full. Not sure if they are including the Cup Final bonuses in there as well. That said, January is looking like a hell of a month for them if they cannae sell a shedload more shares to keep them going. And players will have to be emptied whether they want to see them go or not IMO.

[Moulin Yarns]

#bbcsportsound reporting Fester as saying they will be paid on Sunday. ???

[Leithenhibby]

#bbcsportsound reporting Fester as saying they will be paid on Sunday. ???

:greengrin:na na: Love it.....

[Hibrandenburg]

There are certainly strong indications that UBIG are struggling badly (falling share prices, failing to pay employees etc) and this debt reassigment looks like another indicator. Assuming it wasn't done just to get us Hobos all excited, the form tells us that UBIG owe Ukio at least £6.8m and that there are doubts about UBIG's ability to pay.

If it was instigated by the Lith financial regulator as greenginger suggests he would just have been looking for security on a viable asset. On that basis, if the best security they could produce was a dodgy debt due by a struggling wee Scottish football club then they really are in sheep dip. Of course, if UBIG goes under HoMFC will be liquidated.

On the other hand if it was Ukio (i.e. 'Mr Romanov') that instigated it the implications could be more sinister for the yams. It could suggest that when (rather than 'if') HoMFC goes into liquidation he wants that £6.8m paid and doesn't expect UBIG to pass it on - possibly because they wouldn't be in a position to. The timing of the reassignment, together with the specific inclusion of uncalled capital in the assets would indicate that he was seriously contemplating this course of action during or very shortly after the share offer period.

If Ubig are able to sell their majority shareholding in the club the reassignment tells us that they will either have to leave a portion of debt in place or realise at least £6.8m from the sale so that they can pay off the Ukio debt.

"He's never stopped being the greatest owner" right enough.

Don't stop now, keep writing, I'm nearly there. :drool:

[Spike Mandela]

So have they been paid, the announcements have all been a bit muted and low key compared to previous triumphal pay days?

[CropleyWasGod]

So have they been paid, the announcements have all been a bit muted and low key compared to previous triumphal pay days?

I saw Ryan Stevenson's missus in Poundstretcher this morning, so I'd assume so.

[Johnny-Hibees]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

[cocopops1875]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP Yeah im having sleepless nights about it well i would have if i wasnt :faf::faf::faf: so hard at them over the road :agree:

[Mikey]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

I say that if you don't like it don't read it.

[CropleyWasGod]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

The difference is, we actually are addressing it, appropriately and timeously. It will be sorted, one way or another.

Neither of these statements can be applied to Johnny Jamtart, Johnny.

[Ozyhibby]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

[#FromTheCapital]

Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

Nail on the head. My thoughts exactly

[Cameron1875]

Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

Couldn't have put it any better :top marks.

[RickyS]

Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.


well said that man:not worth

[Hibeesforever]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Good post. I worry about this small long-term debt as well. Self funding a £4 million training complex and also a 20k all seated capacity UEFA compliant football stadium has been risky but suppose it sits with the Hibs tradition of being innovative, planning for the future and of being the first to do things on behalf of Scotland.
You might know more about this than me Johnny Jambo but I was thinking that if all the speculation was correct and that Edinburgh City Council were potentially contemplating building a state-of-the art £60 million stadium, beside a brand new Tram stop on the West of Edinburgh, to help alleviate some small cash-flow problems that their current owner is having, perhaps in the interests of equity and sporting fairness, Hibernian Football Club could lobby the City Council at the same time for say a mere half of this sum in order to pay off our stadium debt ?

What do you think ? Compromise, Hearts would get the use of a brand new football / rugby Stadium and both Clubs would be debt free. Only difference of course would be Hibs would own their ground/ training complex and have a small amount of cash in the bank.

There, issue addressed.
Lets carry on watching the Yam soap opera, the comedy has just started, their bake tins and bank accounts are running dry.
A week is a long time in the world of Hearts International finance.

[HibbiesandtheBaddies]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Don't worry about that, the majority of the debt is in the form of mortgages on the stands.
It's not as if the bank can just come along and say "pay up the debt in full before the agreed due date", now is it?

The rest of the debt will be helped along by a nice wee run in the Scottish Cup though, eh?

[greenginger]

Don't worry about that, the majority of the debt is in the form of mortgages on the stands.
It's not as if the bank can just come along and say "pay up the debt in full before the agreed due date", now is it?

The rest of the debt will be helped along by a nice wee run in the Scottish Cup though, eh?

Another point to bear in mind is that almost £ 450,000 of the losses recorded last year comprised the depreciation of fixed assets. The stands, company cars etc are worth less every year and this reduction has to be shown in the accounts. It is not exactly spending money you hav'nt got and running up a huge overdraft.

The losses recorded will come in useful if the Academy starts producing a Messi or Ronaldo every other year. :greengrin

[basehibby]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

The reality is that Hibs generally run at an operating loss of £1M a year EVERY year (which is very far from shocking in the context of the SPL) - and it probably would have been c £2M last year without the SC Final. Most years that shortfall has been made up or turned into profit by player sales but unsurprisingly noone wanted to buy any of our relegation strugglers last season.

So, the only way to improve Hibs' finances is by getting yer ass along to ER regularly and persuading yer mates to do the same - it's that simple! An extra 2K or so average on the gates would wipe out that operating loss and everything in our garden would then be rosy with all cash from player sales going straight back into the manager's kity (no asbestos pink bus shelters to replace this end of town)

Quite apart from that, I see nothing at all wrong with extracting the urine from our city neighbours about their GENUINELY perilous finances. They have been consistently racking up VAST debts year in year out for short term gain and have never tired of rubbing it in when their profligacy has resulted in their getting the upper hand in derbys. The end result is they are now getting the begging bowl out on a regular basis, and like some washed up jakey who has pished his life up the wall through his own wanton excess, they deserve little in the way of sympathy.

Hibs' finances by contrast are stable and well managed and it is my not unrealistic hope that this will soon result in a massive turnaround in Edinburgh Derby fortunes and that the recent SC victory for Hibs at ER will be the start of a long period of dominance for the Hibs over the jakey-begging-bowl-yams (assuming they last long enough for that to happen;o).

[Jim44]

I 'm trying to find a word which upstages 'miraculous', the term used by Slobbo to describe the less than 50% per cent take up of the Jambo share offer. What word would he have used to describe a successful campaign? Spin's a funny old thing.

[Caversham Green]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

To echo what others have said, you shouldn't worry too much about Hibs' accounts. Our debt figure is falling year on year (down £600k in 2012) and we have a million in the bank. Our board have stated that the club runs a breakeven policy and the losses over the last two years have just mopped up some of the profits made over the previous seven years - in which time we've also made massive improvements to our infrastructure that will carry us forward for many years to come. We do need to halt the loss-making trend, but the future of Hibernian Football Club is secure for the foreseeable future.

That's the direct opposite of HoMFC, which is why we find their problems so interesting and amusing.

[McD]

But have they been paid yet?

[jacomo]

The reality is that Hibs generally run at an operating loss of £1M a year EVERY year (which is very far from shocking in the context of the SPL) - and it probably would have been c £2M last year without the SC Final. Most years that shortfall has been made up or turned into profit by player sales but unsurprisingly noone wanted to buy any of our relegation strugglers last season.

So, the only way to improve Hibs' finances is by getting yer ass along to ER regularly and persuading yer mates to do the same - it's that simple! An extra 2K or so average on the gates would wipe out that operating loss and everything in our garden would then be rosy with all cash from player sales going straight back into the manager's kity (no asbestos pink bus shelters to replace this end of town)

Quite apart from that, I see nothing at all wrong with extracting the urine from our city neighbours about their GENUINELY perilous finances. They have been consistently racking up VAST debts year in year out for short term gain and have never tired of rubbing it in when their profligacy has resulted in their getting the upper hand in derbys. The end result is they are now getting the begging bowl out on a regular basis, and like some washed up jakey who has pished his life up the wall through his own wanton excess, they deserve little in the way of sympathy.

Hibs' finances by contrast are stable and well managed and it is my not unrealistic hope that this will soon result in a massive turnaround in Edinburgh Derby fortunes and that the recent SC victory for Hibs at ER will be the start of a long period of dominance for the Hibs over the jakey-begging-bowl-yams (assuming they last long enough for that to happen;o).

Er, I think your poster might have been to ER on Sunday 2nd Dec but is unlikely to be a regular visitor...

Nice to know a few Yams are following this thread, mind - they'll get a lot more sense here than anywhere in Hearts land.

[jonty]

I 'm trying to find a word which upstages 'miraculous', the term used by Slobbo to describe the less than 50% per cent take up of the Jambo share offer. What word would he have used to describe a successful campaign? Spin's a funny old thing.


:hmmm: Have got two words.


Hibs Class

[bingo70]

See there under 20s got pumped 6-1 off eberdeen so our dream of a team of mchatties may not be a distant fantasy after all!

[PatHead]

I 'm trying to find a word which upstages 'miraculous', the term used by Slobbo to describe the less than 50% per cent take up of the Jambo share offer. What word would he have used to describe a successful campaign? Spin's a funny old thing.

I must admit I do admire how they have managed to raise £800,000 in the last few weeks through a mixture of blackmail, stealing dinner money from children at schools, depriving their inbred sisters/mothers/fathers/daughters/sons out of Christmas presents, getting their photo taken with the corrupt cup, face painting, cake stands, raffling cardigans, non selling out of games and the likes. They are a desperate bunch aren't they.

Wonder what they will do in the new year when Vlad decides it wasn't enough and shuts the place down as he can't do an Oliver and ask for more.




Hope they die soon, I really do.

[Twa Cairpets]

I was having a wee look at the Hearts website to see if there was any update on the wages front, and thought I'd have a wee click through on the UBIG banner (http://www.ubig.lt/index.php/projektai/sports/heart_of_midlothian_football_club/134) to see what they were saying.

Now, I appreciate this clearly hasn't been updated for a couple of years (which is funny/tragic in itself -they don't even mention this years cup final which suggest show unimportant it really was to UBIG), but I was staggered by the sheer amount of lies in this article. And it is definitive proof of their claim to have 400,000 fans. This being so, a 0.8% take up on their share offer isn't that great really. Also, I wonder why the RREvolution website linked to doesn't exist anymore...



In 2005, UBIG became a shareholder in the Scottish football club Heart of Midlothian (generally called Hearts) and has been actively participating in its management since that time.
Established in 1874, Hearts is one of the oldest Scottish football clubs. Since then Hearts has won the Scottish League four times and has been runner-up on 14 other occasions. The club has won the Scottish Cup seven times—the last time in 2006. Hearts has also won the Scottish League Cup four times and is a regular participant in European tournaments. With more than 400,000 supporters, Hearts is among the twenty biggest clubs in the United Kingdom. In Scotland, Hearts is one of the clubs most supported by local fans.

Since 1886, Hearts has been playing its home football matches at Tynecastle Stadium, which is located in the central part of Edinburgh. In recent years, tickets for Hearts home matches in this stadium, which accommodates approximately 17,500 football fans, have been sold out early in advance of the season. For this reason, the reconstruction of Tynecastle Stadium, seeking to increase its capacity, rearrange its accesses, and increase the stadium infrastructure to satisfy the various needs of the spectators, is one of the main real estate projects currently being implemented by UBIG.

Hearts is one of only three Scottish clubs with its own football academy, where the most promising young talent is nurtured and later used to fortify the main composition of the team. Hearts also has its own trainings complex, which is one of the newest and most modern in the United Kingdom.

The success and rapid development of Hearts led to the following well-known international companies becoming supporters of the club: Ūkio bankas, Umbro, Coca Cola, Microsoft, MBNA, Marriott, and Nestle. RRevolution, a producer of elite sport clothing, dedicated its first collection of sport clothes to the Hearts club and its symbolism. www.rrevolution.co.uk

[JimBHibees]

I was having a wee look at the Hearts website to see if there was any update on the wages front, and thought I'd have a wee click through on the UBIG banner (http://www.ubig.lt/index.php/projektai/sports/heart_of_midlothian_football_club/134) to see what they were saying.

Now, I appreciate this clearly hasn't been updated for a couple of years (which is funny/tragic in itself -they don't even mention this years cup final which suggest show unimportant it really was to UBIG), but I was staggered by the sheer amount of lies in this article. And it is definitive proof of their claim to have 400,000 fans. This being so, a 0.8% take up on their share offer isn't that great really. Also, I wonder why the RREvolution website linked to doesn't exist anymore...

That is comedy gold. Where to start - one of the top 20 UK clubs, one of only 3 Scottish teams with an Academy, 400k fans etc :faf::faf:

[#FromTheCapital]

400,000 fans, geez they really are a big team. I mean it's not like they ever tell lies or have delusions of grandeur.

[07hibee]

So they own Ricarton then ,I thought they leased it?
I was having a wee look at the Hearts website to see if there was any update on the wages front, and thought I'd have a wee click through on the UBIG banner (http://www.ubig.lt/index.php/projektai/sports/heart_of_midlothian_football_club/134) to see what they were saying.

Now, I appreciate this clearly hasn't been updated for a couple of years (which is funny/tragic in itself -they don't even mention this years cup final which suggest show unimportant it really was to UBIG), but I was staggered by the sheer amount of lies in this article. And it is definitive proof of their claim to have 400,000 fans. This being so, a 0.8% take up on their share offer isn't that great really. Also, I wonder why the RREvolution website linked to doesn't exist anymore...

[Billy Whizz]

So they own Ricarton then ,I thought they leased it?



Not sure they own anything now?

[Hibi]

So they own Ricarton then ,I thought they leased it?

And on that note, did they not invest the £5m? SMG money for a 20 year lease at riccarton? If so any ideas what year that take them up to?

[Peevemor]

So they own Ricarton then ,I thought they leased it?

It doesn't say that they own it - only that they "have" it.

Riccarton was meant to be a joint project with Heriot Watt (it still is in a way). As part of the funding a grant was required from the Sports Council (Sportscotland) however, even then, Hearts finances were so dodgy that they weren't eligible for this - they weren't viewed as being stable enough to receive public funding. Heriot Watt went ahead and financed and built the whole thing themselves (with the help of the Sportscotland grant) and then set up a 25 year lease with the Merricks.

[Woodrow]

Not sure they own anything now?

http://www.youtube.com/watch?v=ZPtjyqgZAUk

:rolleyes:

*** Warning - the above clip contains profanity - from 18 rated movie ****

[Barney McGrew]

This report seems familiar for some reason

http://www.lithuaniabasketball.com/news-1035-romanov-asking-fans-to-save-zalgiris.html

[Ozyhibby]

This report seems familiar for some reason

http://www.lithuaniabasketball.com/news-1035-romanov-asking-fans-to-save-zalgiris.html

Its like a cut and paste from the Hearts site. Brilliant.

[JimBHibees]

every Zalgiris fan could invest at least 100 litas :faf::faf:

[TowerHibs]

Its like a cut and paste from the Hearts site. Brilliant.

Tht photo of him plying basketball is a classic

His shambolic nature is worse than Will Ferrall's character in Semi-Pro.

[Ozyhibby]

Does their share issue finish tomorrow? Suprised we have not had any last minute begging.
I imagine that come thursday morning they are going to have to make a statement regarding how they are going to complete the season.

[#FromTheCapital]

Does their share issue finish tomorrow? Suprised we have not had any last minute begging.
I imagine that come thursday morning they are going to have to make a statement regarding how they are going to complete the season.

Yes last day tomorrow. I'm also surprised they've not gave the tin one last rattle. Maybe they'll have a statement up first thing in the morning to beg.

[greenginger]

every Zalgiris fan could invest at least 100 litas :faf::faf:


Whats next ? the Birac Smelter workers being asked to stump up to save their jobs . :greengrin

[Col2]

This report seems familiar for some reason

http://www.lithuaniabasketball.com/news-1035-romanov-asking-fans-to-save-zalgiris.html

This is a big deal and and destroys any yam fantasy that Vlad has the means to pay but won't. He wouldn't do the same with his beloved and successful basketball team if he was still loaded.

Where is that countdown clock again? Get it right up you deluded!!!

[cocopops1875]

Seems they have noticed only about 2 months since it was mentioned on here (or the PM board anyway):greengrin

http://www.hmfckickback.co.uk/index.php?/topic/121995-vlad-basketball-team-in-financial-trouble/

[JimBHibees]

This is a big deal and and destroys any yam fantasy that Vlad has the means to pay but won't. He wouldn't do the same with his beloved and successful basketball team if he was still loaded.

Where is that countdown clock again? Get it right up you deluded!!!

I agree looks like the pack of cards are about to come tumbling down.

[blackpoolhibs]

I agree looks like the pack of cards are about to come tumbling down.

Wish they'd hurry up, my bet would pay for a nice summer holiday. :greengrin

[Russell The Dug]

This is massive news if the basketball side is ****ed too.

Hearts are in deeper **** than I thought and it seems Romanov cannae bail them out and moreover he will need cash as soon as possible.

How long until the bank call in the debt? Can't be long surely?

[bingo70]

This is massive news if the basketball side is ****ed too.

Hearts are in deeper **** than I thought and it seems Romanov cannae bail them out and moreover he will need cash as soon as possible.

How long until the bank call in the debt? Can't be long surely?

I know nowt about finances but it really is looking like there isn't some grand plan from Vlad, its maybe not even a scam like I thought it was, he's just being honest at last, they've got no money and if the fans don't raise that 1 million shortfall they'll be ****ed.

[DaveF]

This report seems familiar for some reason

http://www.lithuaniabasketball.com/news-1035-romanov-asking-fans-to-save-zalgiris.html

Sweet. Things do look like they are tick tocking along :thumbsup:

[Ozyhibby]

Unless there has been a last minute rush on the shares i cant see them making It past mid Jan.

[clerriehibs]

This report seems familiar for some reason

http://www.lithuaniabasketball.com/news-1035-romanov-asking-fans-to-save-zalgiris.html


:faf:

[JollyGreenGiant]

Mon the consequences!

[Russell The Dug]

Mon the consequences!

Quality!

[MSK]

A couple of weeks ago, we started a project called “Mes su Žalgiriu" [editor - "We are with Žalgiris"], which is open to everyone wanting to help the famous club. All they need to do is to transfer the money to the club’s account in Ūkio Bankas.


Aye right then !!!!!!!! :faf:

[Russell The Dug]

I know nowt about finances but it really is looking like there isn't some grand plan from Vlad, its maybe not even a scam like I thought it was, he's just being honest at last, they've got no money and if the fans don't raise that 1 million shortfall they'll be ****ed.

Yeah and then once that shortfall is found somehow it will be on to finding and funding more of the debt. Surely the debt will be called in soon or the security of the stadium most be called into question.


One things for sure, fire sale in Jan for definite.

[Seveno]

You all seem to be missing the big question ..............




............. can the Liths bake ?

[bingo70]

Yeah and then once that shortfall is found somehow it will be on to finding and funding more of the debt. Surely the debt will be called in soon or the security of the stadium most be called into question.


One things for sure, fire sale in Jan for definite.

Not really, they can't afford to pay players off and none of them are worth anything of any value.

I think they'll stumble on with the current squad until they run out of cash.

[ronaldo7]

You all seem to be missing the big question ..............




............. can the Liths bake ?

Don't know, but they're rather creative.:wink:

They're getting this lassie into the shed under the Gorgie stand at a fiver a pop.

http://www.youtube.com/watch?v=518XP8prwZo

[greenginger]

I know nowt about finances but it really is looking like there isn't some grand plan from Vlad, its maybe not even a scam like I thought it was, he's just being honest at last, they've got no money and if the fans don't raise that 1 million shortfall they'll be ****ed.

I never quite got my head around this £ 1 million shortfall.

Is it to get through to the end of the season with the current squad or with the squad stripped to the bone ?

Also is it just to get to next year's season ticket sale time ie. March.

[Russell The Dug]

Not really, they can't afford to pay players off and none of them are worth anything of any value.

I think they'll stumble on with the current squad until they run out of cash.

Bids will come in for any player worth any value especially with 6 months to go. I would be astonished if Zaliukas, McGowan and webster aren't picked up for sweeties in January.

[Barney McGrew]

Bids will come in for any player worth any value especially with 6 months to go. I would be astonished if Zaliukas, McGowan and webster aren't picked up for sweeties in January.

The difficulty they have is that everyone knows they're rooked and that unless they get some of the higher paid players off the wages pronto then they're gubbed anyway.

McGowan will end up at Parkhead BTW.

[bingo70]

Bids will come in for any player worth any value especially with 6 months to go. I would be astonished if Zaliukas, McGowan and webster aren't picked up for sweeties in January.

Webster has proven he can't cut it at a higher level and I don't think McGowan and zaliukas are worth anything when they're out of contract in the summer (I think).

Theyll be lucky to make 100k from January sales imo

[Www1875hfc]

The difficulty they have is that everyone knows they're rooked and that unless they get some of the higher paid players off the wages pronto then they're gubbed anyway.

McGowan will end up at Parkhead BTW.

McGowans last game for the puddle drinkers will be the derby. :agree:

Then it will be off to China for a 9 month stint.

[Leithenhibby]

Sweet. Things do look like they are tick tocking along :thumbsup:



:aok:
What store says "every little helps" ........ :greengrin

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=historical&lang=et&downloadcsv=0&date=&start_d=18&start_m=6&start_y=2012&end_d=18&end_m=12&end_y=2012&period=day

[DC_Hibs]

Webster has proven he can't cut it at a higher level and I don't think McGowan and zaliukas are worth anything when they're out of contract in the summer (I think).

Theyll be lucky to make 100k from January sales imo

Agreed although I think they might get 200k for Macgowan.

It always surprises me the number of people - including in the media - expecting them to cash in in January. Who are the teams that are going to pay money for any of the others????

Nobody in Scotland thats for sure and that pretty much leaves championship level who won't be queuing up to sign players from the 9th placed club in the SPHell.

These players will also struggle to get the OTT wages elsewhere that the Saviles are currently paying them so will be in no hurry to leave either.

Stick that in your oven and smoke it.

[Russell The Dug]

Webster has proven he can't cut it at a higher level and I don't think McGowan and zaliukas are worth anything when they're out of contract in the summer (I think).

Theyll be lucky to make 100k from January sales imo

£100ks £100k and 3 players off the wage bill.

Cheerio bawbags enjoy your new clubs.

[DC_Hibs]

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=historical&lang=et&downloadcsv=0&date=&start_d=18&start_m=6&start_y=2012&end_d=18&end_m=12&end_y=2012&period=day

BASSa's HOW LOW CAN YOU GO ??

Public enemy No. 1

[#FromTheCapital]

Webster has proven he can't cut it at a higher level and I don't think McGowan and zaliukas are worth anything when they're out of contract in the summer (I think).

Theyll be lucky to make 100k from January sales imo

Don't think they'll be particularly bothered about transfer fees, they'll be more interested in saving 6 months worth of wages for any players who leave.

[ronaldo7]

Maybe Rod should go on Holiday for a month or two after forgetting to sign the cheque for the Jan 3rd derby ticket money.:greengrin

[Just Alf]

:aok:
What store says "every little helps" ........ :greengrin

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=historical&lang=et&downloadcsv=0&date=&start_d=18&start_m=6&start_y=2012&end_d=18&end_m=12&end_y=2012&period=day

No wonder 'ol Vlad is looking for the Lith fans to help save is "baby" ...... otherwise the basketball teams a gonner as well!

That chart would make for hugley worrying viewing if I were a Yam.... house of cards is on very shoogly ground at the mo!

[EH6 Hibby]

Maybe Rod should go on Holiday for a month or two after forgetting to sign the cheque for the Jan 3rd derby ticket money.:greengrin

I seriously hope Hibs are holding onto the money until after the game. If they die before the game there's no way we'll get out ticket money refunded by them.

[lord bunberry]

I seriously hope Hibs are holding onto the money until after the game. If they die before the game there's no way we'll get out ticket money refunded by them.

Probably about the same chance of me getting my ticket money refunded by you

[Russell The Dug]

I seriously hope Hibs are holding onto the money until after the game. If they die before the game there's no way we'll get out ticket money refunded by them.

Let them take us to court for the cash it's what big clubs do.

[Bostonhibby]

400,000 fans, geez they really are a big team. I mean it's not like they ever tell lies or have delusions of grandeur.

Of which @3500, thats 3500 not 35000 or 350000, have bought shares in this footbaling giant - loyalty indeed. Oh and it still hasn't raised £1m....................... bonkers.

[Jim44]

:aok:
What store says "every little helps" ........ :greengrin

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=historical&lang=et&downloadcsv=0&date=&start_d=18&start_m=6&start_y=2012&end_d=18&end_m=12&end_y=2012&period=day


I wonder what caused the wee flurry upwards at 12.10 pm ? Mind you, it only lasted for an hour. :-)

[Col2]

Thing is. I don't see them getting any cash in January AND Vlad's stubbornness will mean he won't let anyone go.

I still see them with the same players, getting paid (or not) wages they can't afford and they will head into another major survival crisis mid Jan. At the same time there will be a 15 page thread on kickback about rumours that Skacel is coming back.

[hibees 7062]

Romanov asking fans to save Zalgiris (http://www.hibs.net/news-1035-romanov-asking-fans-to-save-zalgiris.html)

4 hours and 41 minutes ago



http://www.basketnews.lt/paveikslelis-49022-bg.jpgDespite a great start of the season, serious financial troubles could see the end of Zalgiris’ great start of the season. The club’s owner Vladimir Romanov addressed the club’s fans and asked for their financial support to pay the money owed to the players.Here is a translated version of the full text of Romanov’s public letter, published in Kauno Diena, a newspaper, owned by the Russian-born businessman, who has been in charge of Zalgiris since 2009, when he saved the club from bankruptcy. It is very pleasing that Žalgiris finished first in Group C of Euroleague and has a genuine chance of winning the title. However, that will require having funds to pay the salaries and bonuses of the players.
Everyone is openly declaring love for Žalgiris with promises of sponsoring the team, but no one is actually helping. Hence, there is only way to tackle the financial problems – every Zalgiris fan could invest at least 100 litas [editor - 29 euros]. Otherwise, we will have to resort to selling players and pulling out of the race for the highest places.A couple of weeks ago, we started a project called “Mes su Žalgiriu" [editor - "We are with Žalgiris"], which is open to everyone wanting to help the famous club. All they need to do is to transfer the money to the club’s account in Ūkio Bankas.Omintel mobile network clients can also support Žalgiris by calling or texting the number 1402 (5 litas).Žalgiris is part of the Lithuanian culture and everyone in Lithuania should help to save this treasure. It would be great to see the team fighting for victories at the top level at the biggest festivities of the year.

[hibby rae]

Romanov asking fans to save Zalgiris (http://www.hibs.net/news-1035-romanov-asking-fans-to-save-zalgiris.html)

4 hours and 41 minutes ago



http://www.basketnews.lt/paveikslelis-49022-bg.jpgDespite a great start of the season, serious financial troubles could see the end of Zalgiris’ great start of the season. The club’s owner Vladimir Romanov addressed the club’s fans and asked for their financial support to pay the money owed to the players.Here is a translated version of the full text of Romanov’s public letter, published in Kauno Diena, a newspaper, owned by the Russian-born businessman, who has been in charge of Zalgiris since 2009, when he saved the club from bankruptcy. It is very pleasing that Žalgiris finished first in Group C of Euroleague and has a genuine chance of winning the title. However, that will require having funds to pay the salaries and bonuses of the players.
Everyone is openly declaring love for Žalgiris with promises of sponsoring the team, but no one is actually helping. Hence, there is only way to tackle the financial problems – every Zalgiris fan could invest at least 100 litas [editor - 29 euros]. Otherwise, we will have to resort to selling players and pulling out of the race for the highest places.A couple of weeks ago, we started a project called “Mes su Žalgiriu" [editor - "We are with Žalgiris"], which is open to everyone wanting to help the famous club. All they need to do is to transfer the money to the club’s account in Ūkio Bankas.Omintel mobile network clients can also support Žalgiris by calling or texting the number 1402 (5 litas).Žalgiris is part of the Lithuanian culture and everyone in Lithuania should help to save this treasure. It would be great to see the team fighting for victories at the top level at the biggest festivities of the year.

Is Romanov also a Nigerian prince who needs my help in relation to inheritance?

[lyonhibs]

Is Romanov also a Nigerian prince who needs my help in relation to inheritance?

No, but he swears to be a Ugandan businessman with the proceeds from a lucrative property sale in Kampala that he will happily deposit in my account for only $30,000 "handling charge" :agree:

[Hibernia Na Eir]

oh dear.

oh dear.

oh dear.

[PatHead]

:faf:

[HibeeHendo]

********.

[cocopops1875]

Big Vlad, What a guy

[DaveF]

You all seem to be missing the big question ..............




............. can the Liths bake ?

Good point.

Maybe the local yam bams can turn their hand to some of these (http://easteuropeanfood.about.com/od/lithuaniandesserts/ig/Lithuanian-Tree-Cake/) to help their lith brethern?

[nonshinyfinish]

BASSa's HOW LOW CAN YOU GO ??

Public enemy No. 1

Death row...

:wink:

[Bostonhibby]

Mon the consequences!

Consequences, consequences, we want consequences.................

[copycat]

I am sure that this is completely different, nothing to see, its all made up by media and medalling fools with bad hobonomics.

**** me when is the penny going to drop with they buffoons!!!!

Half of them still attack anyone who dares to speak out against the mad one.

[Bostonhibby]

Romanov asking fans to save Zalgiris (http://www.hibs.net/news-1035-romanov-asking-fans-to-save-zalgiris.html)

4 hours and 41 minutes ago



http://www.basketnews.lt/paveikslelis-49022-bg.jpgDespite a great start of the season, serious financial troubles could see the end of Zalgiris’ great start of the season. The club’s owner Vladimir Romanov addressed the club’s fans and asked for their financial support to pay the money owed to the players.Here is a translated version of the full text of Romanov’s public letter, published in Kauno Diena, a newspaper, owned by the Russian-born businessman, who has been in charge of Zalgiris since 2009, when he saved the club from bankruptcy. It is very pleasing that Žalgiris finished first in Group C of Euroleague and has a genuine chance of winning the title. However, that will require having funds to pay the salaries and bonuses of the players.
Everyone is openly declaring love for Žalgiris with promises of sponsoring the team, but no one is actually helping. Hence, there is only way to tackle the financial problems – every Zalgiris fan could invest at least 100 litas [editor - 29 euros]. Otherwise, we will have to resort to selling players and pulling out of the race for the highest places.A couple of weeks ago, we started a project called “Mes su Žalgiriu" [editor - "We are with Žalgiris"], which is open to everyone wanting to help the famous club. All they need to do is to transfer the money to the club’s account in Ūkio Bankas.Omintel mobile network clients can also support Žalgiris by calling or texting the number 1402 (5 litas).Žalgiris is part of the Lithuanian culture and everyone in Lithuania should help to save this treasure. It would be great to see the team fighting for victories at the top level at the biggest festivities of the year.

What a guy, what's he going to save next with a wave of his magic wand, the Amazon rain forests? the Siberian Tiger?, Greater Crested Newt ?or how about ressurecting the Dodo?

Keep baking.............

[Lix]

Interesting article this morning about Ukio.... Troubled and in need of a merger to save it apparently...

Lithuania Bank Merger Talk Sparks Interest in Ukio Bankas Shares
2012-12-19 11:14:41.640 GMT




By Bryan Bradley
Dec. 19 (Bloomberg) -- AB Ukio Bankas shares were the most
active since February after a news portal said the Lithuanian
central bank wants to merge it with AB Siauliu Bankas with aid
from the European Bank for Reconstruction and Development.
Volume of 1.5 million shares by 11:45 a.m. in Vilnius was
higher than any day since Feb. 2, according to data compiled by
Bloomberg. The shares were unchanged at a nine-year low of 0.11
euros, valuing the company at 38 million euros ($50 million). No
trading of Siauliu Bankas shares took place on the exchange.
The Bank of Lithuania wants the EBRD, Siauliu Bankas’s
biggest shareholder, to help it merge the two lenders to avert a
deterioration of the unprofitable Ukio Bankas, Eversus.lt
reported today, without saying where it got the information. It
would create the Baltic nation’s third-biggest lender by
deposits after the units of SEB AB and Swedbank AB.
The EBRD, which said today it won’t comment specifically on
the transaction, listed actions “to support strengthening and
consolidation of local banks” as a priority in the Strategy for
Lithuania published on its website last month.
The Bank of Lithuania won’t comment on the situation,
spokesman Giedrius Simonavicius said by phone in Vilnius today.


Shareholder Losses


Kaunas-based Ukio Bankas shares have declined 28 percent
since Oct. 29, when it reported a group net loss of 44 million
litai ($16.9 million) for the first nine months of this year.
Following the collapse of Russian-owned AB Bankas Snoras a
year ago, Ukio Bankas, whose majority owner Vladimir Romanov is
also Russian-born, has had to offer higher interest rates to
attract depositors and offset a lack of demand for its bonds.
A merger with Siauliu Bankas could only work if the EBRD
agreed, Baltic investment bank Finasta analyst Tadas Povilauskas
said today in a note to clients.
“Such a merger would not be positive news for the minor
shareholders of Ukio Bankas, the value of which would probably
be depressed,” Povilauskas said.
The EBRD owns 43 percent of Siauliu Bankas, which is based
in the northern Lithuanian town of Siauliai.


EBRD Position


“We continue our work with Siauliu Bankas, a long-standing
partner of the EBRD in Lithuania,” the bank’s Head of Media
Relations Anthony Williams said by phone today from London. “As
always, the EBRD will review opportunities as they arise.”
In its Lithuania strategy document, the EBRD said the
failure of Snoras in November 2011 showed a need “to enhance
the governance and the financial strength of local banks,
possibly through assistance in consolidation.”
“The bank will consider, primarily through the EBRD’s
existing shareholding in Siauliu Bankas, opportunities to play
an active role in the process,” it said in the policy document.

[Mikey]

Interesting article this morning about Ukio.... Troubled and in need of a merger to save it apparently...



Presumably it would be in the best interests of the bank to cash in on any potential investments. Like land in Edinburgh :greengrin

[greenginger]

Presumably it would be in the best interests of the bank to cash in on any potential investments. Like land in Edinburgh :greengrin


Somebody sold almost 1.5 million shares in the bank in one trade about an hour ago. :confused:

[Leithenhibby]

Somebody sold almost 1.5 million shares in the bank in one trade about an hour ago. :confused:


Is that good or bad?......... :wink:


Trading is up for the day!!

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=realtime

[RyeSloan]

Interesting article this morning about Ukio.... Troubled and in need of a merger to save it apparently...

Lithuania Bank Merger Talk Sparks Interest in Ukio Bankas Shares
2012-12-19 11:14:41.640 GMT




By Bryan Bradley
Dec. 19 (Bloomberg) -- AB Ukio Bankas shares were the most
active since February after a news portal said the Lithuanian
central bank wants to merge it with AB Siauliu Bankas with aid
from the European Bank for Reconstruction and Development.
Volume of 1.5 million shares by 11:45 a.m. in Vilnius was
higher than any day since Feb. 2, according to data compiled by
Bloomberg. The shares were unchanged at a nine-year low of 0.11
euros, valuing the company at 38 million euros ($50 million). No
trading of Siauliu Bankas shares took place on the exchange.
The Bank of Lithuania wants the EBRD, Siauliu Bankas’s
biggest shareholder, to help it merge the two lenders to avert a
deterioration of the unprofitable Ukio Bankas, Eversus.lt
reported today, without saying where it got the information. It
would create the Baltic nation’s third-biggest lender by
deposits after the units of SEB AB and Swedbank AB.
The EBRD, which said today it won’t comment specifically on
the transaction, listed actions “to support strengthening and
consolidation of local banks” as a priority in the Strategy for
Lithuania published on its website last month.
The Bank of Lithuania won’t comment on the situation,
spokesman Giedrius Simonavicius said by phone in Vilnius today.


Shareholder Losses


Kaunas-based Ukio Bankas shares have declined 28 percent
since Oct. 29, when it reported a group net loss of 44 million
litai ($16.9 million) for the first nine months of this year.
Following the collapse of Russian-owned AB Bankas Snoras a
year ago, Ukio Bankas, whose majority owner Vladimir Romanov is
also Russian-born, has had to offer higher interest rates to
attract depositors and offset a lack of demand for its bonds.
A merger with Siauliu Bankas could only work if the EBRD
agreed, Baltic investment bank Finasta analyst Tadas Povilauskas
said today in a note to clients.
“Such a merger would not be positive news for the minor
shareholders of Ukio Bankas, the value of which would probably
be depressed,” Povilauskas said.
The EBRD owns 43 percent of Siauliu Bankas, which is based
in the northern Lithuanian town of Siauliai.


EBRD Position


“We continue our work with Siauliu Bankas, a long-standing
partner of the EBRD in Lithuania,” the bank’s Head of Media
Relations Anthony Williams said by phone today from London. “As
always, the EBRD will review opportunities as they arise.”
In its Lithuania strategy document, the EBRD said the
failure of Snoras in November 2011 showed a need “to enhance
the governance and the financial strength of local banks,
possibly through assistance in consolidation.”
“The bank will consider, primarily through the EBRD’s
existing shareholding in Siauliu Bankas, opportunities to play
an active role in the process,” it said in the policy document.

Oh dear...sounds like a massive dilution of Vlad's shareholding.

This note basically states that UKIO is bust and needs another banks balance sheet to stop it folding altogether. Vlad's empire really has went t*ts up and Hearts are but an after thought for him now.

Hearts are left with a stadium needing multi million pound investment, substantial debts, ongoing losses and no working capital....about as bad as it could possibly be. They have already fleeced their fans for what extra cash they can and essentially the cupboard is now bare.

Bad times for the Yams and it would appear there situation is one of terminal decline.

[Mikey]

Is that good or bad?......... :wink:


Trading is up for the day!!

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=realtime

To be selling at this point, someone either needs the money or is getting out before it falls further.

Either way, they've lost money on those shares!


Oh dear...sounds like a massive dilution of Vlad's shareholding.

This note basically states that UKIO is bust and needs another banks balance sheet to stop it folding altogether. Vlad's empire really has went t*ts up and Hearts are but an after thought for him now.

Hearts are left with a stadium needing multi million pound investment, substantial debts, ongoing losses and no working capital....about as bad as it could possibly be. They have already fleeced their fans for what extra cash they can and essentially the cupboard is now bare.

Bad times for the Yams and it would appear there situation is one of terminal decline.

What a wee shame for them.

[Leithenhibby]

Oh dear...sounds like a massive dilution of Vlad's shareholding.

This note basically states that UKIO is bust and needs another banks balance sheet to stop it folding altogether. Vlad's empire really has went t*ts up and Hearts are but an after thought for him now.

Hearts are left with a stadium needing multi million pound investment, substantial debts, ongoing losses and no working capital....about as bad as it could possibly be. They have already fleeced their fans for what extra cash they can and essentially the cupboard is now bare.

Bad times for the Yams and it would appear there situation is one of terminal decline.

It's serious then!!.... :greengrin

[Saorsa]

What a wee shame for them.:agree: :greengrin

[JimBHibees]

Webster has proven he can't cut it at a higher level and I don't think McGowan and zaliukas are worth anything when they're out of contract in the summer (I think).

Theyll be lucky to make 100k from January sales imo

The question surely is that which other club would pay the players the wages they are currently sometimes :greengrin getting at Hearts. It may suit the players better to sit and leave when their contracts run out in the summer. No club will be offering big transfer fees that is for sure.

[Part/Time Supporter]

Oh dear...sounds like a massive dilution of Vlad's shareholding.

This note basically states that UKIO is bust and needs another banks balance sheet to stop it folding altogether. Vlad's empire really has went t*ts up and Hearts are but an after thought for him now.

Hearts are left with a stadium needing multi million pound investment, substantial debts, ongoing losses and no working capital....about as bad as it could possibly be. They have already fleeced their fans for what extra cash they can and essentially the cupboard is now bare.

Bad times for the Yams and it would appear there situation is one of terminal decline.

Like Lloyds taking over HBOS, which helped to precipitate the Rangers meltdown. Friendly lender HBOS was replaced by nasty London-based Lloyds, who had no such "loyalties".

:wink:

[Famous5forever]

Oh dear...sounds like a massive dilution of Vlad's shareholding.

This note basically states that UKIO is bust and needs another banks balance sheet to stop it folding altogether. Vlad's empire really has went t*ts up and Hearts are but an after thought for him now.

Hearts are left with a stadium needing multi million pound investment, substantial debts, ongoing losses and no working capital....about as bad as it could possibly be. They have already fleeced their fans for what extra cash they can and essentially the cupboard is now bare.

Bad times for the Yams and it would appear there situation is one of terminal decline.

This news must mean the end for them this is it its over they wont riggle out of this one mad vlad is bust :flag:

[shagpile]

Somebody sold almost 1.5 million shares in the bank in one trade about an hour ago. :confused:

Someone is very desperate to get their hands on £23.87.:greengrin

[Leithenhibby]

Someone is very desperate to get their hands on £23.87.:greengrin


Haha .... :aok:

[greenginger]

Due Diligence will take about 5 years and cost more than the Bank is worth ! :agree:

[Jim44]

On the Jambo football front, the Scott Robinson issue has been dealt with. The naughty boy has been censured by McGlynn and the details of the punishment will be kept within the club. I can hear McGlynn talking to Robinson. "See yon wages you never get? Well we're no giving you them for the next two weeks. In fact, you give us two weeks wages and we'll call it quits". :-)

[Just Alf]

This news must mean the end for them this is it its over they wont riggle out of this one mad vlad is bust :flag:

just got a reply from my mate an accountant (and a YAM :D ) ..... in his proffesional opinion there's a 20% chance the Yams will get through this unscathed.... he did say one of the partners (a sheep) thinks it's near 5% chance.

might be another false dawn.... sorry... sunset..... but you never know! :cb

[Famous5forever]

Due Diligence will take about 5 years and cost more than the Bank is worth ! :agree:

baws 5 years a thought this new news meant they would be shut doon in 5 weeks no another 5 years BAWS

[Twa Cairpets]

...The shares were unchanged at a nine-year low of 0.11
euros, valuing the company at 38 million euros ($50 million)....

This is the key thing, I think.

Ukio are tiny in a financial sense. Worth about £30 million, and right up faeces canal without any wooden propulsion mechanism.

Did Vlad not say he wanted £50 million for Hearts a few months ago? maybe Hearts should buy UKIO. Then the debt would not only be owed to themselves, it would be owned by themselves.

Bet none of us smartarse Hobo's thought of that eh! CWG and CG don't understand what is really happening.

I've tried reassuring the doubters for weeks - Hearts are screwed. Maybe today, maybe tomorrow, but they are truly, undeniably, inevitably screwed.

[Russell The Dug]

Bank takes over/joins with Ukio and looks at the company's with massive debts to both banks, calls the debts in, hearts can't pay, security is Tynie, Cheerio Tynie.

If these banks do merge will this mean that Romanov won't have full control of hearts debt and it will be in the hands of a third party with no links to the tramps on Gorgie?

It seems like the ***** is finally, finally hitting the fan. If I was a deluded tramp I would consider baking a few more cakes.

[BEEJ]

Oh dear...sounds like a massive dilution of Vlad's shareholding.

This note basically states that UKIO is bust and needs another banks balance sheet to stop it folding altogether. Vlad's empire really has went t*ts up and Hearts are but an after thought for him now.

Hearts are left with a stadium needing multi million pound investment, substantial debts, ongoing losses and no working capital....about as bad as it could possibly be. They have already fleeced their fans for what extra cash they can and essentially the cupboard is now bare.

Bad times for the Yams and it would appear there situation is one of terminal decline.
:partyhibb :cheers:

Bring on the big day - and let's get ready to party!!

[Peevemor]

This is the key thing, I think.

Ukio are Tynie in a financial sense.

Fixed that for you. :nerd:

[CropleyWasGod]

This is the key thing, I think.

Ukio are tiny in a financial sense. Worth about £30 million, and right up faeces canal without any wooden propulsion mechanism.

Did Vlad not say he wanted £50 million for Hearts a few months ago? maybe Hearts should buy UKIO. Then the debt would not only be owed to themselves, it would be owned by themselves.

Bet none of us smartarse Hobo's thought of that eh! CWG and CG don't understand what is really happening.

I've tried reassuring the doubters for weeks - Hearts are screwed. Maybe today, maybe tomorrow, but they are truly, undeniably, inevitably screwed.

On the contrary. I can exclusively reveal that the proceeds of this afternoon's Christmas garage sale, chez moi , will be used to purchase the entire share capital of UBIG and UKIO Bankas.

I will then donate the shares, all 47 quids' worth, to Rod and Sir Tam. Then we really will own them. :cb

[Russell The Dug]

Is it coincidence this news as well as the basketball side in the ****ter is revealed just as the hearts share issue is closing?

[Mikey]

On the contrary. I can exclusively reveal that the proceeds of this afternoon's Christmas garage sale, chez moi , will be used to purchase the entire share capital of UBIG and UKIO Bankas.

I will then donate the shares, all 47 quids' worth, to Rod and Sir Tam. Then we really will own them. :cb

The Yams have a preference towards fan ownership. Sell the shares to hibs.net :aok:

[HUTCHYHIBBY]

Just under a week until Xmas and this story hasn't gotten tired of giving yet!

[CropleyWasGod]

The Yams have a preference towards fan ownership. Sell the shares to hibs.net :aok:

Call it £50 and it's a deal.

[Seveno]

Call it £50 and it's a deal.

I'll raise that to £50 plus a Twix bar.


Oops, just finished eating the Twix. Will the wrapper do instead?

[poolman]

Oh Dear :greengrin


http://www.scotsman.com/edinburgh-evening-news/football/top-stories/gary-if-anyone-can-romanov-mccann-1-1049341

[Mikey]

I'll raise that to £50 plus a Twix bar.


Oops, just finished eating the Twix. Will the wrapper do instead?

I was just going to offer the Twix :nanafunk:

[PapillonVert]

Had a peep at Ukio Bankas's website.

They raised their interest rate by 0.1% on 14 December to try and attract more deposits for a minimum six-month term!.

Also, offering free subs to travel magazines to those brave enough to entrust their holiday money (for at least a year!!) Any takers?

Interest on deposits changes

2012-12-14

From 14 December Ūkio bankas changes annual interest rates for time deposits in litas and euro.

By 0.1 per cent higher interest will be paid to the clients placing deposits via Eta bankas for a six-month or longer term as well as on deposits placed for a term longer than six months with automatic renewal (during transaction renewal). By 0.1 per cent higher interest also applies to the participants of the seniors’ program Advantages of the Age.

Please be reminded that Ūkio bankas continues a holiday deposit campaign during which the participants are presented with subscriptions to various periodicals. Newspaper subscriptions of different length will be given as a gift to private clients who place a time or savings deposit with automatic extension in the amount of LTL 10,000 and above (or the equivalent in other currency) for a minimum period of one year.

You are welcome to use Ūkio bankas services.

[Mikey]

Oh Dear :greengrin


http://www.scotsman.com/edinburgh-evening-news/football/top-stories/gary-if-anyone-can-romanov-mccann-1-1049341

I got to the end of the second paragraph before checking the date :greengrin

[#FromTheCapital]

Oh Dear :greengrin


http://www.scotsman.com/edinburgh-evening-news/football/top-stories/gary-if-anyone-can-romanov-mccann-1-1049341


:faf::drunk::embarrassJust give up Gary son, deluded as the rest of them. Although I agree with his comment about hearts becoming as big as rangers

Edit thanks for pointing the date out mikey! Now where is my coat???

[FranckSuzy]

'"He must initially look to close the gap on Celtic and Rangers by consolidating third place and who knows, if the pair of them leave Scottish football, Hearts could be left as the kingpins of the game in Scotland'.

:faf:

[haagsehibby]

Oh Dear :greengrin


http://www.scotsman.com/edinburgh-evening-news/football/top-stories/gary-if-anyone-can-romanov-mccann-1-1049341

Am I the only one who read the start of the third paragraph as "The 57 year old barking millionaire ..." ?

[WindyMiller]

Oh Dear :greengrin


http://www.scotsman.com/edinburgh-evening-news/football/top-stories/gary-if-anyone-can-romanov-mccann-1-1049341

"While we have yet to hear the full details of what his plans for the club are, supporters should be encouraged by the fact someone of his business stature and acumen is prepared to get involved at Hearts."


:faf::faf::faf:

[Famous5forever]

Ah this news is good ah a want to ken though is when will they close doon they are like a cat wi nine lives they must have used up ah their lives now every time it looks like the games over something seems to save them.

[kdhibees1]

http://s12.postimage.org/9mjxwqard/CLOCK_IS_TICKING.jpg (http://postimage.org/image/9mjxwqard/)
:flag:

[JoeTortolanoFanClub]

Oh Dear :greengrin


http://www.scotsman.com/edinburgh-evening-news/football/top-stories/gary-if-anyone-can-romanov-mccann-1-1049341

What is he on ???

[Caversham Green]

Is it coincidence this news as well as the basketball side in the ****ter is revealed just as the hearts share issue is closing?

An interesting point. Bank mergers don't happen overnight and it's likely that this one was under consideration before the HoMFC share scam - er offer - was opened. That, the security transfer and the basketball team's problems have probably arisen as a direct result of the merger negotiations.

[Mikey]

An interesting point. Bank mergers don't happen overnight and it's likely that this one was under consideration before the HoMFC share scam - er offer - was opened. That, the security transfer and the basketball team's problems have probably arisen as a direct result of the merger negotiations.

Presumably the fact that they stated in the Hearts share issue that they'll be reviewing the debt position in July is also related to the merger??

[HUTCHYHIBBY]

I was told by a young lady from Vilnius that Lietuvos Rytas were the team to support in Lithuanian Basketball circles, I feel cheated now!

[ScottB]

An interesting point. Bank mergers don't happen overnight and it's likely that this one was under consideration before the HoMFC share scam - er offer - was opened. That, the security transfer and the basketball team's problems have probably arisen as a direct result of the merger negotiations.

Perhaps they are preparing to scuttle UBIG? Seems all its big investment projects are sinkholes, and we've seen what usable assets it had transfer to Ukio control.

Certainly I can't think the bank that is preparing to essentially take them over will want to inherit any of that mess...

[Caversham Green]

Presumably the fact that they stated in the Hearts share issue that they'll be reviewing the debt position in July is also related to the merger??

It's still UBIG's debt rather than Ukio's even though they've assigned the security, but the transfer would suggest that they've already reviewed the debt. At the time of the brochure I took that comment to be managementspeak for an intention to pull the plug completely and nothing has happened since then to change my mind. It's looking more and more like UBIG have no choice in th matter.

[JoeTortolanoFanClub]

I was told by a young lady from Vilnius that Lietuvos Rytas were the team to support in Lithuanian Basketball circles, I feel cheated now!

Lietuvos Rytas are the Vilnius team, Zalgiris the Kaunas one.

[Gmack7]

Have I still got time to buy some of these much sought after shares or are they all sold?

[Famous5forever]

I Just want them to die.

[Gmack7]

Have I still got time to buy some of these much sought after shares or are they all sold?

[Mikey]

Have I still got time to buy some of these much sought after shares or are they all sold?


Have I still got time to buy some of these much sought after shares or are they all sold?

Don't waste money on shares, get yourself a decent phone :agree:

:tee hee:

[clerriehibs]

An interesting point. Bank mergers don't happen overnight and it's likely that this one was under consideration before the HoMFC share scam - er offer - was opened. That, the security transfer and the basketball team's problems have probably arisen as a direct result of the merger negotiations.

Lloyds / BoS was pretty damn quick! Oh - one of them was going bust ...

[Spike Mandela]

Incredibly there are still people who still think the shares money is to be used for youth development:rolleyes:

http://www.scotsman.com/sport/football/top-football-stories/it-s-now-up-to-romanov-and-his-board-to-support-hearts-faithful-after-their-amazing-effort-1-2698999

[poolman]

Incredibly there are still people who still think the shares money is to be used for youth development:rolleyes:

http://www.scotsman.com/sport/football/top-football-stories/it-s-now-up-to-romanov-and-his-board-to-support-hearts-faithful-after-their-amazing-effort-1-2698999


:faf: What an absolute con

[Pete]

Have I still got time to buy some of these much sought after shares or are they all sold?

You can buy mine off me if you want. I found some down the back of my sofa.

[DaveF]

Incredibly there are still people who still think the shares money is to be used for youth development:rolleyes:

http://www.scotsman.com/sport/football/top-football-stories/it-s-now-up-to-romanov-and-his-board-to-support-hearts-faithful-after-their-amazing-effort-1-2698999

I've not opened that link but looking at the headline, I'm going have a punt and say it's written by that No1 yam fud knocker BAnderson.

[Saorsa]

I've not opened that link but looking at the headline, I'm going have a punt and say it's written by that No1 yam fud knocker BAnderson.How did you guess :greengrin



http://s4d4.turboimagehost.com/t1/14438150_doon_the_pan.gif (http://www.turboimagehost.com/p/14438150/doon_the_pan.gif.html)

[Hibernia Na Eir]

It's difficult to get your head round, but, there will be Jambo's getting gifts on Xmas day containing "shares".
They'd be better off asking for Andrex. Worth more and you can do things with it.

[I'm_cabbaged]

It's difficult to get your head round, but, there will be Jambo's getting gifts on Xmas day containing "shares".
They'd be better off asking for Andrex. Worth more and you can do things with it.

Ken folk that bought shares for their 9 year old daughter, they need help.

[blackpoolhibs]

Ken folk that bought shares for their 9 year old daughter, they need help.

Maybe so, but they will all have clean ***** over the festive period.

[Spike Mandela]

Over £1m apparently........

http://www.scotsman.com/sport/football/spl/hearts-share-offer-raises-over-1m-1-2700070

[cocopops1875]

To be fair to that hideous mob that's a great effort from them in such a short period of time, at this time of year while deep down knowing that it could a waste

[Ozyhibby]

It's a great effort. Thankfully it won't be enough to save them.

[#FromTheCapital]

Over £1m apparently........

http://www.scotsman.com/sport/football/spl/hearts-share-offer-raises-over-1m-1-2700070

That's a decent effort from them but its also very wrong. That 1m could of gone to a worthwhile cause. Feel sorry for all the kids who'll be getting a bit of paper for Christmas

[Lucius Apuleius]

That's a decent effort from them but its also very wrong. That 1m could of gone to a worthwhile cause. Feel sorry for all the kids who'll be getting a bit of paper for Christmas

Both my kids are getting a piece of paper this year too :wink: A stone in the East.

[Suburban Hibby]

At the bottom of the article it confirms they are new shares- not part of Vlads holding. So no EGM etc- who needs rules, it's the Hearts way.

[Leithenhibby]

The real share issue is off to a bad/ poor start..........

"slip sliding away" I feel a song coming on. :wink:

http://www.nasdaqomxbaltic.com/market/?instrument=LT0000102352&list=2&currency=LTL&pg=details&tab=realtime

[Keith_M]

I was told by a young lady from Vilnius that Lietuvos Rytas were the team to support in Lithuanian Basketball circles, I feel cheated now!


Am I really the only person that started reading that and thought it was going to be a rude Limerick? I bet you anything he actually started it that way but couldn't think of anything that rhymed with Vilnius.



I can just imagine HH sitting their trying to write something witty...


"There was a young lady from Vilnius,
who............................................




.. aw **** it I'll just write somethin else."



:greengrin

[greenginger]

At the bottom of the article it confirms they are new shares- not part of Vlads holding. So no EGM etc- who needs rules, it's the Hearts way.

I have my doubts about the £ 1 million worth of shares but as they are new shares the total will have to be registered at Companies House in the next couple of weeks ( I know rules don't apply to the Yams ). Anyway we will see how much spinning has been going on and if Bathgate is just one of the puddle lickers. :agree:

[s.a.m]

Am I really the only person that started reading that and thought it was going to be a rude Limerick? I bet you anything he actually started it that way but couldn't think of anything that rhymed with Vilnius.



I can just imagine HH sitting their trying to write something witty...


"There was a young lady from Vilnius,
who............................................




.. aw **** it I'll just write somethin else."



:greengrin

,,,who dealt with a team known as 'Bills R Us'
they baked, and sold shares
till they couldnae dae mair
and they finally fell doon the lavvy-ius.

Just didn't try hard enough.:coffee:

[southsider]

,,,who dealt with a team known as 'Bills R Us'
they baked, and sold shares
till they couldnae dae mair
and they finally fell doon the lavvy-ius.

Just didn't try hard enough.:coffee:

There was a wee team down Gorgie way, whoose fans baked cakes so they could play, they bought all vlad's shares, but he stashed all their wares, and gone bust sign goes up anyday.

[greenginger]

How about a kaunus one.


" There was a young girl from Kaunus ,
who became a total recluse,
She said she was had,
by someone named Vlad,
and had to report the abuse "

[Sergey]

I see that the bank have this morning issued a statement that they're working with an outside partner who will 'considerably accelerate realisation of the property taken over for debts'.

See: https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?showInline=true&messageAttachmentId=413953

I'm sure the PBS will be looked at.

[poolman]

Over £1m apparently........

http://www.scotsman.com/sport/football/spl/hearts-share-offer-raises-over-1m-1-2700070



http://i50.tinypic.com/2myosoj.jpg

[Just Alf]

I see that the bank have this morning issued a statement that they're working with an outside partner who will 'considerably accelerate realisation of the property taken over for debts'.

See: https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?showInline=true&messageAttachmentId=413953

I'm sure the PBS will be looked at.


So the aim is to "maximise revenue" ..... hmmmmm

so either sell PBS or take ownership and lease back? :confused: ........ or will they crash the lot to prevent further losses and try get something back by selling whats left? ....... feels like the pace is picking up again :cb

[DC_Hibs]

I see that the bank have this morning issued a statement that they're working with an outside partner who will 'considerably accelerate realisation of the property taken over for debts'.

See: https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?showInline=true&messageAttachmentId=413953

I'm sure the PBS will be looked at.

I'll help them out, the only option if they need to raise cash urgently is to sell Tumbledown and move the Saviles elsewhere.

There are no other options other than spending *****loads to turn it into a fit for purpose stadium and that is never going to happen based on their current debt and the fact their business is a basket case with no sign of being able to reduce that debt (24m at 30/6/2011) in the short or medium term.


The 24m will have increased when they decide to announce 2012 results assuming that Vlad is unable to do more creative accounting (DFE Swaps or Forgiveness of c38m to date) to delay the inevitable.

[Sergey]

I'll help them out, the only option if they need to raise cash urgently is to sell Tumbledown and move the Saviles elsewhere.

There are no other options other than spending *****loads to turn it into a fit for purpose stadium and that is never going to happen based on their current debt and the fact their business is a basket case with no sign of being able to reduce that debt (24m at 30/6/2011) in the short or medium term.


The 24m will have increased when they decide to announce 2012 results assuming that Vlad is unable to do more creative accounting (DFE Swaps or Forgiveness of c38m to date) to delay the inevitable.

And remember that interest accrues on that at 4.5%. That means an annual interest bill of just over £1 million, or £20,000 per week, each and every week of the year.

Those next set of accounts will make interesting reading.

[DC_Hibs]

And remember that interest accrues on that at 4.5%. That means an annual interest bill of just over £1 million, or £20,000 per week, each and every week of the year.

Those next set of accounts will make interesting reading.

Add on 500k tax arrears per annum starting in May (at 42k per month) and they are relying on a lot of season ticket sales from fans eager to watch players on a fraction of what the current lot earn never mind what was blown on Kingston, Nade, Gordon, Goncalves et al.

Let's hope for their sakes they are put out of their misery before then. Perish the thought that they have to go through the heartache of watching their club living within their means.

[CropleyWasGod]

Add on 500k tax arrears per annum starting in May (at 42k per month) and they are relying on a lot of season ticket sales from fans eager to watch players on a fraction of what the current lot earn never mind what was blown on Kingston, Nade, Gordon, Goncalves et al.

Let's hope for their sakes they are put out of their misery before then. Perish the thought that they have to go through the heartache of watching their club living within their means.

...that's payable in a lump sum. :greengrin

[Peevemor]

Add on 500k tax arrears per annum starting in May (at 42k per month) and they are relying on a lot of season ticket sales from fans eager to watch players on a fraction of what the current lot earn never mind what was blown on Kingston, Nade, Gordon, Goncalves et al.

Let's hope for their sakes they are put out of their misery before then. Perish the thought that they have to go through the heartache of watching their club living within their means.

I think it's annual payments, with the first £500k due in May (which will account for a good few early ST sales).

[Caversham Green]

Add on 500k tax arrears per annum starting in May (at 42k per month) and they are relying on a lot of season ticket sales from fans eager to watch players on a fraction of what the current lot earn never mind what was blown on Kingston, Nade, Gordon, Goncalves et al.

Let's hope for their sakes they are put out of their misery before then. Perish the thought that they have to go through the heartache of watching their club living within their means.


...that's payable in a lump sum. :greengrin


I think it's annual payments, with the first £500k due in May (which will account for a good few early ST sales).

As far as the accounts go it should be shown as a £1.5m cost and creditor in the 2011-12 accounts. I thought I'd read somewhere that it was to be paid off monthly starting in May, but both the deferment and the monthly payment arrangement are quite unusual. I wonder what the significance of May is.

[Hibbyradge]

I see that the bank have this morning issued a statement that they're working with an outside partner who will 'considerably accelerate realisation of the property taken over for debts'.

See: https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?showInline=true&messageAttachmentId=413953

I'm sure the PBS will be looked at.

The company provides, "intermediation in leasing and selling commercial and residential properties".

:hmmm:

[proud_and_green]

I'll help them out, the only option if they need to raise cash urgently is to sell Tumbledown and move the Saviles elsewhere.

There are no other options other than spending *****loads to turn it into a fit for purpose stadium and that is never going to happen based on their current debt and the fact their business is a basket case with no sign of being able to reduce that debt (24m at 30/6/2011) in the short or medium term.


The 24m will have increased when they decide to announce 2012 results assuming that Vlad is unable to do more creative accounting (DFE Swaps or Forgiveness of c38m to date) to delay the inevitable.

Please do not give that ramshackle heap the name of Tumbledown, they may have won the Great War to end all wars but they didn't win that battle!

[CropleyWasGod]

As far as the accounts go it should be shown as a £1.5m cost and creditor in the 2011-12 accounts. I thought I'd read somewhere that it was to be paid off monthly starting in May, but both the deferment and the monthly payment arrangement are quite unusual. I wonder what the significance of May is.

Definitely annual payments, Cav.

HMFC will have assured HMRC that they can raise the money from the proceeds of annual 5-1 parties. :agree:

[Caversham Green]

Definitely annual payments, Cav.

HMFC will have assured HMRC that they can raise the money from the proceeds of annual 5-1 parties. :agree:

That certainly seems more likely. They also usually ask for a payment up front - maybe because of the other lump sum the yams had to pay they accepted deferment of the full amount.

Were they still in the Scottish Cup when the agreement was made? Maybe they thought they were going to retain it but they've been knocked out now.

[CropleyWasGod]

That certainly seems more likely. They also usually ask for a payment up front - maybe because of the other lump sum the yams had to pay they accepted deferment of the full amount.

Were they still in the Scottish Cup when the agreement was made? Maybe they thought they were going to retain it but they've been knocked out now.

Joking aside, my take on it was "we can't give you a lump sum just now. If you insist on one, we'll just fold up the tents and you'll get nowt. However, in May we'll have next season's ST cash."

(whilst secretly counting up all the other bills that the ST cash would be used to pay off..................)

[MB62]

That certainly seems more likely. They also usually ask for a payment up front - maybe because of the other lump sum the yams had to pay they accepted deferment of the full amount.

Were they still in the Scottish Cup when the agreement was made? Maybe they thought they were going to retain it but they've been knocked out now.

Really!!!!!!! The holders? OUT the cup already? :shocked:
Who beat them? :greengrin

[Famous5forever]

Im no happy about this news when they first started this share crap i thought they would be lucky to get 100k now they are sayin they have raised over 1.2 million. BAWS i really really thought this was the end as well

[Seveno]

If he can find a buyer at a decent price, now would be a good time for Vlad to close them done, sell the PBS and ride off into the East with £1m in his back pocket.

Jingle bells, jingle bells ............:na na:

[Kaiser1962]

Im no happy about this news when they first started this share crap i thought they would be lucky to get 100k now they are sayin they have raised over 1.2 million. BAWS i really really thought this was the end as well


The share issue is merely a distraction to divert folks attention from the main event.

[Sergey]

Hmmm - the bank have now withdrawn their 'B' rating from S&P

See: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=535225&messageId=658925

The 'B' rating is slightly better than a 'C' rating, which equates to: 'In default with little
prospect for recovery'

[cocopops1875]

Hmmm - the bank have now withdrawn their 'B' rating from S&P

See: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=535225&messageId=658925

The 'B' rating is slightly better than a 'C' rating, which equates to: 'In default with little
prospect for recovery'
What does that mean mate ?

[Seveno]

Hmmm - the bank have now withdrawn their 'B' rating from S&P

See: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=535225&messageId=658925

The 'B' rating is slightly better than a 'C' rating, which equates to: 'In default with little
prospect for recovery'

Another step towards the precipice. I'm loving this :aok:

[RyeSloan]

What does that mean mate ?

Effectively the credit worthiness of UKIO.

The announcement is a nice bit of spin but I would suggest the reason they are withdrawing from S&P's ratings is that they know that a future downgrade is very likely. They also make the decision not to engage in international credit market their choice when I sincerely doubt they could raise a dime out of anyone anyway. Their balance sheet is shot and raising capital would be one way to help repair it, fact is they can't as no sane person or institution would touch them with a barge pole so I would suggest that is exactly why the Lith authorities have been strongly suggesting a 'merger' with another bank for UKIO.

[Peevemor]

Effectively the credit worthiness of UKIO.

The announcement is a nice bit of spin but I would suggest the reason they are withdrawing from S&P's ratings is that they know that a future downgrade is very likely. They also make the decision not to engage in international credit market their choice when I sincerely doubt they could raise a dime out of anyone anyway. Their balance sheet is shot and raising capital would be one way to help repair it, fact is they can't as no sane person or institution would touch them with a barge pole so I would suggest that is exactly why the Lith authorities have been strongly suggesting a 'merger' with another bank for UKIO.

It's almost like Craig Levein resigning after he was sacked. :agree:

[HIBERNIAN-0762]

You really must read these inbreds comments on the Scotsman sport pages :confused:

Even worse (if that's possible) than on yakback, talk about deluded!

Where o where do they come from???

[Mr White]

Some definite mental health issues within the regular contributors to the Scotsman comments section- total fruitloops most of them.

[Broken Gnome]

Effectively the credit worthiness of UKIO.

The announcement is a nice bit of spin but I would suggest the reason they are withdrawing from S&P's ratings is that they know that a future downgrade is very likely. They also make the decision not to engage in international credit market their choice when I sincerely doubt they could raise a dime out of anyone anyway. Their balance sheet is shot and raising capital would be one way to help repair it, fact is they can't as no sane person or institution would touch them with a barge pole so I would suggest that is exactly why the Lith authorities have been strongly suggesting a 'merger' with another bank for UKIO.

The "adequate" capital and "moderate" liquidity as stated by S&P paints a better picture though? Unless the relatively ok positions there are mire than offset by the property loans and share price.

[Jack Hackett]

You really must read these inbreds comments on the Scotsman sport pages :confused:

Even worse (if that's possible) than on yakback, talk about deluded!

Where o where do they come from???

It's possible....Basket cases abound on those pages.:greengrin

[hibs0666]

I'll help them out, the only option if they need to raise cash urgently is to sell Tumbledown and move the Saviles elsewhere.

There are no other options other than spending *****loads to turn it into a fit for purpose stadium and that is never going to happen based on their current debt and the fact their business is a basket case with no sign of being able to reduce that debt (24m at 30/6/2011) in the short or medium term.


The 24m will have increased when they decide to announce 2012 results assuming that Vlad is unable to do more creative accounting (DFE Swaps or Forgiveness of c38m to date) to delay the inevitable.

It's not the debt that it's important here it's cash to pay th ebills. The deby won't kill them but running out of cash most certainly will.

[HUTCHYHIBBY]

Lietuvos Rytas are the Vilnius team, Zalgiris the Kaunas one.

Aye, I know.

[Ozyhibby]

Whats most likely to finish them off? Events in Lithuania or running out of cash here? Or a combination of both?
My bet would have been running out of cash here but things seem to be gathering pace in Lithuania.

[Famous5forever]

The "adequate" capital and "moderate" liquidity as stated by S&P paints a better picture though? Unless the relatively ok positions there are mire than offset by the property loans and share price.


This new news sounds good no that i understand any off it ah ahm interested in is when the lights go out and they ah go home.

[Part/Time Supporter]

Whats most likely to finish them off? Events in Lithuania or running out of cash here? Or a combination of both?
My bet would have been running out of cash here but things seem to be gathering pace in Lithuania.

They should be able to get through to the end of the season with that amount of cash raised, provided they don't do anything stupid in January (ie adding to payroll).

[Peevemor]

They should be able to get through to the end of the season with that amount of cash raised, provided they don't do anything stupid in January (ie adding to payroll).

Why do you think that? They said they needed £1.7m and have fallen well short of that. In addition, any early ST money that comes in before the end of the season will be used to pay their first £500k HMRC instalment.

The only hope they have is getting to the LC final and if their January fire sale does exceptionally well. Then they may just scrape through.

[Part/Time Supporter]

Why do you think that? They said they needed £1.7m and have fallen well short of that. In addition, any early ST money that comes in before the end of the season will be used to pay their first £500k HMRC instalment.

The only hope they have is getting to the LC final and if their January fire sale does exceptionally well. Then they may just scrape through.

Hence my caveat. I think if they can get in a few hundred K in fees and save about the same in wages, that should be enough to get through to season ticket renewal.

[greenginger]

http://wck2.companieshouse.gov.uk//compdetails

Yet another order to " strike off " the Yams recorded at Companies House. Just noticed it, on top line beside Company Status - active.

It probably just relates to the Company Annual Return being 3 months overdue but it just shows what a shambles that Club is in now.

Big Club

[H18sry]

Lawrence Broadie ‏@lawrencebroadie
Hearts embargo continues. Wages default with regards to bonuses etc.

Lawrence Broadie ‏@lawrencebroadie
Club will now face new sanction at new hearing.

[#FromTheCapital]

Lawrence Broadie ‏@lawrencebroadie
Hearts embargo continues. Wages default with regards to bonuses etc.

Lawrence Broadie ‏@lawrencebroadie
Club will now face new sanction at new hearing.

Forgive my ignorance but who is Lawrence broadie?

Decent if true although probably a blessing in disguise for them

[s.a.m]

Keith Downie‏@STVkeith STV understands 10 Hearts players are still awaiting their bonus from Scottish Cup Final victory

[Spike Mandela]

Lawrence Broadie ‏@lawrencebroadie
Hearts embargo continues. Wages default with regards to bonuses etc.

Lawrence Broadie ‏@lawrencebroadie
Club will now face new sanction at new hearing.

Ho Ho ****ing Ho:xwave

[H18sry]

Forgive my ignorance but who is Lawrence broadie?

Decent if true although probably a blessing in disguise for them

https://twitter.com/lawrencebroadie

[Vini1875]

While a lot on here rub their hands together at the prospect of them finally going down the pan every time its flushed they keep bobbing back up like a persistent floater that just won't disappear. They may be in the toilet, but they will continue to hang on and create a bad smell.

[Broken Gnome]

Keith Downie‏@STVkeith STV understands 10 Hearts players are still awaiting their bonus from Scottish Cup Final victory

Basically didn't happen.

New embargo covers the whole of January. Should be a pretty skeletal squad by the time the cup semi final comes round.

[s.a.m]

Keith Downie‏@STVkeith Hearts players were asked by club to sign document deferring all bonus payments until the end of the season. Players chose not to

[CB_NO3]

Chris McLaughlin @BBCchrismclaug #Hearts fail to pay player bonuses and transfer embargo continues. Will be lifted when players are paid in full #SPL #BBCSport
Where they going to find the bonus money from? Some players dont even play for the club anymore.

[Spike Mandela]

“@BBCthomasmcg: RT @BBCchrismclaug: #Hearts fail to pay player bonuses & transfer embargo continues. Will be lifted when players paid in full #SPL #BBCSport”

So Hearts still have it within their powers to sign players in January if they pay their current players in full. SPL playing a blinder for the Hearts players.

[H18sry]

“@STVkeith: STV understands 10 Hearts players are still awaiting their bonus from Scottish Cup Final victory.”Adam,salvatori and Russet


Keith Downie ‏@STVkeith
Hearts players were asked by club to sign document deferring all bonus payments until the end of the season. Players chose not to.


http://sport.stv.tv/football/clubs/hearts/206967-hearts-face-new-spl-punishment-for-failure-to-pay-player-bonuses/

[CB_NO3]

“@BBCthomasmcg: RT @BBCchrismclaug: #Hearts fail to pay player bonuses & transfer embargo continues. Will be lifted when players paid in full #SPL #BBCSport”

So Hearts still have it within their powers to sign players in January if they pay their current players in full. SPL playing a blinder for the Hearts players.
Thats only if they pay every player their full Scottish Cup win bonus. How much were they on per man. 5k? I dont really know. But they will have to fork out more money money money.