Hibernian F C . Confirmation Statement ( shareholders list )

[greenginger]

https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/ySVpb21AZ773oJYZgsQkRyb3uRLfGxCOsUdyT8vvWcs/application-pdf?AWSAccessKeyId=ASIAIEV6YQ6Y4XK2PUWA&Expires=1487680849&Signature=K7g057VE9ME%2BCSBh8c%2FvLWp5%2B1A%3D&x-amz-security-token=FQoDYXdzEKD%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEa DKyoMcCPqJyyVRiykiKcA58iay00k5XpL9rEIe4%2BpF2jErXq AcmgqpQV%2F%2Fd%2FGQ99XpESApEb%2FDF%2Fr5yOHDdiBMXX %2BWg70urbSNROtk%2Bwg384qyGpy%2BguwChOYVmwTaFO7tki %2FB87RJTegqQFdL%2BIo5o52dzuPM8dOBJ4QuUe3KYK4oHbYR s%2BsTSTKC218pjJlZygMEfs%2F7g%2FRSWGRP15Iu%2BzfvWW 2EW8cpkRNGOcI4I6Z1jADt6FBTJy6aI3vnVCdKDKU%2BhmX%2B RUCKOMfuzNtFCbftRvkEFHZ31MiutM8cvnfHkQaR0bgXoaWwZp in5SyMmw%2FOAFis%2FYuNeQGdJD%2Bn7jigvO0pINAdmYmpRu C6vPoonFV9tDxjD%2FQRGSH7URJBnOuGBcW7fKCaEVFUZs%2Fd U6h5MUveDOXfIIF0YbuKNAVPPGULYw5umEg6mWgGsei5CPooYJ IlkvK32c0U5qZbOfj7eRIr1YkAlttPb28vyeVWJYHGn0%2BaA8 jAA4gGhSNYrE7P6NAAgZVc1OlnLX16aKOWTpBa%2BrUMrLMJcS jbfj%2Br7HRtcnNzHosq0oob6vxQU%3D


List of all old and new shareholders.

[Bostonhibby]

Can't open GG, comes up as files with errors?

[Baldy Foghorn]

https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/ySVpb21AZ773oJYZgsQkRyb3uRLfGxCOsUdyT8vvWcs/application-pdf?AWSAccessKeyId=ASIAIEV6YQ6Y4XK2PUWA&Expires=1487680849&Signature=K7g057VE9ME%2BCSBh8c%2FvLWp5%2B1A%3D&x-amz-security-token=FQoDYXdzEKD%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEa DKyoMcCPqJyyVRiykiKcA58iay00k5XpL9rEIe4%2BpF2jErXq AcmgqpQV%2F%2Fd%2FGQ99XpESApEb%2FDF%2Fr5yOHDdiBMXX %2BWg70urbSNROtk%2Bwg384qyGpy%2BguwChOYVmwTaFO7tki %2FB87RJTegqQFdL%2BIo5o52dzuPM8dOBJ4QuUe3KYK4oHbYR s%2BsTSTKC218pjJlZygMEfs%2F7g%2FRSWGRP15Iu%2BzfvWW 2EW8cpkRNGOcI4I6Z1jADt6FBTJy6aI3vnVCdKDKU%2BhmX%2B RUCKOMfuzNtFCbftRvkEFHZ31MiutM8cvnfHkQaR0bgXoaWwZp in5SyMmw%2FOAFis%2FYuNeQGdJD%2Bn7jigvO0pINAdmYmpRu C6vPoonFV9tDxjD%2FQRGSH7URJBnOuGBcW7fKCaEVFUZs%2Fd U6h5MUveDOXfIIF0YbuKNAVPPGULYw5umEg6mWgGsei5CPooYJ IlkvK32c0U5qZbOfj7eRIr1YkAlttPb28vyeVWJYHGn0%2BaA8 jAA4gGhSNYrE7P6NAAgZVc1OlnLX16aKOWTpBa%2BrUMrLMJcS jbfj%2Br7HRtcnNzHosq0oob6vxQU%3D


List of all old and new shareholders.

Can't open it, but should it be posted on message board?

[greenginger]

It opens for me, but I'm using an ancient laptop. :greengrin

[greenginger]

https://beta.companieshouse.gov.uk/company/SC005323

Try that one , go to filing history and open first document.

[marinello59]

Can't open it, but should it be posted on message board?

It only lists names and shares held, no other personal info is there.

[Baldy Foghorn]

It only lists names and shares held, no other personal info is there.

:aok:

[givescotlandfreedom]

Nice to see myself there :)

[ColinNish]

And me. :greengrin

[Billy Whizz]

Nice to see myself there :)

Who are you😄

[jodjam]

Nice to see my name next to the shares that Wallet Merger was desperate to get

[Golden Bear]

Nice to see my name next to the shares that Wallet Merger was desperate to get

:agree:

That was a trying period, it cost me a few quid at the time but I've since reduced my holding considerably.

[Haymaker]

It only lists names and shares held, no other personal info is there.

Had peoples addresses when I looked/dobs too.

EDIT: Hang on, I was looking at the director lists...

[NYHibby]

92.5m shares
HFC Holdings owns 61.4m

"Others" own 33.6% of the club.

[greenginger]

Amongst the larger shareholders on the list there are several nominees with 1,250,000 shares each.

Leith Walk nominees, Water of Leith nominees, Hilton Park nominees etc. with a total holding of almost 10 million shares , 11% of total. I wonder if there are links between the nominee groups ?

At least there are no sign of Craig White or Wavetower ! :greengrin

[Billy Whizz]

Amongst the larger shareholders on the list there are several nominees with 1,250,000 shares each.

Leith Walk nominees, Water of Leith nominees, Hilton Park nominees etc. with a total holding of almost 10 million shares , 11% of total. I wonder if there are links between the nominee groups ?

At least there are no sign of Craig White or Wavetower ! :greengrin

What's this all about

[Golden Bear]

I realise all this information is already freely available, but I'm growing into the school of thought that it might not be such a good idea to publicise it on a fans forum. I'm sure there will be business people out there who would prefer their names not to be disclosed just in case it could jeopardize the future success of their business - especially if its a local business.

Just a thought.

[Bishop Hibee]

I'm of the opposite view. Football club ownership should be as transparent as possible.

[Kavinho]

I realise all this information is already freely available, but I'm growing into the school of thought that it might not be such a good idea to publicise it on a fans forum. I'm sure there will be business people out there who would prefer their names not to be disclosed just in case it could jeopardize the future success of their business - especially if its a local business.

Just a thought.


The counter point, other than the information being publicly available would be that if they wanted to keep anonymous, they could buy shares via companies/shell companies/nominee holdings off shore companies etc.

If you want to stay anonymous, you really can do it fairly easily.

[greenginger]

What's this all about


David Low trying to stir it.

Several different nominee names have appeared as shareholders on the list.

Biggest holding is 1,250,000 shares , about a tenth of what HSL hold.

[Billy Whizz]

David Low trying to stir it.

Several different nominee names have appeared as shareholders on the list.

Biggest holding is 1,250,000 shares , about a tenth of what HSL hold.

Mean anything?

[brianmc]

For the hard of understanding, where on that site is the actual list of shareholders?
(Asking for a friend...) 🙄

[Hamish]

[QUOTE=brianmc;4951286]For the hard of understanding, where on that site is the actual list of shareholders?

https://beta.companieshouse.gov.uk/company/SC005323

Go to filing history then scroll down and open the first document dated 11 Feb 2017

Thanks to greenginger.

[mutley]

I'm on twice, old and new shares! Does that make me an Uberfan?


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[brianmc]

[QUOTE=brianmc;4951286]For the hard of understanding, where on that site is the actual list of shareholders?

https://beta.companieshouse.gov.uk/company/SC005323

Go to filing history then scroll down and open the first document dated 11 Feb 2017

Thanks to greenginger.

Thanks guys.


Edit: I mean my idiot friend says thanks! Ha ha

[brog]

I'm on twice, old and new shares! Does that make me an Uberfan?


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I should be the same but only shown as 1 holding. I need to check if they've been merged.

[matty_f]

Nice to see myself there :)

:aok: same!

[CropleyWasGod]

David Low trying to stir it.

Several different nominee names have appeared as shareholders on the list.

Biggest holding is 1,250,000 shares , about a tenth of what HSL hold.
The Board regularly discuss all new share applications. I doubt that there's anything untoward about these holdings.

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[Eyrie]

I realise all this information is already freely available, but I'm growing into the school of thought that it might not be such a good idea to publicise it on a fans forum. I'm sure there will be business people out there who would prefer their names not to be disclosed just in case it could jeopardize the future success of their business - especially if its a local business.

Just a thought.

There are that many names listed that I can't see how it would have any effect. Your customers aren't going to trawl through 31 pages to see if they recognise a name, and even if they did they wouldn't know if it was you or someone with a similar name. You face more "risk" from talking football with them which we all do.

[Bostonhibby]

David Low trying to stir it.

Several different nominee names have appeared as shareholders on the list.

Biggest holding is 1,250,000 shares , about a tenth of what HSL hold.
Correct. Not really that big in the context of number of shares issued and the fact that HSL keep growing.

[greenginger]

The Board regularly discuss all new share applications. I doubt that there's anything untoward about these holdings.

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Yeah, most likely share purchasers who don't want their names out front for whatever reason.

Could be business or maybe wives finding out the real reason for no new car / exotic holiday. :greengrin

[Bostonhibby]

Yeah, most likely share purchasers who don't want their names out front for whatever reason.

Could be business or maybe wives finding out the real reason for no new car / exotic holiday. :greengrin
I know one guy who's done it that way as his missus thinks he already spends too much time and money on Hibs.

[NAE NOOKIE]

Nice to see my name up there :aok:

Is there a similar list of Hertz shareholders? :greengrin

[Jonnyboy]

Nice to see my name up there :aok:

Is there a similar list of Hertz shareholders? :greengrin

Yep, here it is

Budge, Anne

[Andy74]

I realise all this information is already freely available, but I'm growing into the school of thought that it might not be such a good idea to publicise it on a fans forum. I'm sure there will be business people out there who would prefer their names not to be disclosed just in case it could jeopardize the future success of their business - especially if its a local business.

Just a thought.

You buy shares in your own name then it's public, simple as that. Even if you buy in the name of nominees there are statutory processes for the public to get the details of the underlying holders.

[BSEJVT]

I would encourage every Hibs Fan who can afford to do so buy shares in the next public sale (in addition to their HSL subscriptions)

I have no idea who or what is behind these nominee companies but the more ordinary shareholders we have the less influence they can ever have if someone were ever trying to buy all of their shares in a block.

The wider the shareholding is spread the less we ever have to fear.

To be clear I don't think we have anything to fear at present but I wouldn't like to see these faceless nominees continuing to acquire shareholdings in such blocks.

Andy,

How would one go about ascertain who were the individuals owning shares held in the various nominee companies?

[Andy74]

I would encourage every Hibs Fan who can afford to do so buy shares in the next public sale (in addition to their HSL subscriptions)

I have no idea who or what is behind these nominee companies but the more ordinary shareholders we have the less influence they can ever have if someone were ever trying to buy all of their shares in a block.

The wider the shareholding is spread the less we ever have to fear.

To be clear I don't think we have anything to fear at present but I wouldn't like to see these faceless nominees continuing to acquire shareholdings in such blocks.

Andy,

How would one go about ascertain who were the individuals owning shares held in the various nominee companies?

Sorry, I was talking mince as we aren't a plc and the companies act sections on register of interests etc don't apply.

[Is It On....]

Roderick Petrie appears to only have 5,000 shares?

[greenginger]

Nice to see my name up there :aok:

Is there a similar list of Hertz shareholders? :greengrin

The Hertz list of shareholders is on a CD available from Companies House.

They publish the changes made to the list every year.


https://beta.companieshouse.gov.uk/company/SC005863

[CropleyWasGod]

Nice to see my name up there :aok:

Is there a similar list of Hertz shareholders? :greengrin
Yep. It's on the CH website as well.

Sent from my SM-A510F using Tapatalk

[ColinNish]

Roderick Petrie appears to only have 5,000 shares?

Yeah, i saw that too. He's probably got one of the nominee holdings too.

[CropleyWasGod]

Yeah, i saw that too. He's probably got one of the nominee holdings too.
What makes you think that?

He owns 10% of the holding company, which probably makes him the second largest shareholder already.

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[dp00]

How much is each share ?


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[skedders]

My name is not on the list. Have been paying monthly since day one. Anyone have an idea why that may be?

[Baldy Foghorn]

My name is not on the list. Have been paying monthly since day one. Anyone have an idea why that may be?

It's for shareholders who have bought shares outright.

[skedders]

It's for shareholders who have bought shares outright.

I thought that after a year of payment i would own shares? I can't remember when hsl started but surely it had been well over a year?

[greenginger]

How much is each share ?


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The shares are sold by the Club at 4 pence each. ( they are listed as nominal 2p shares )

[scooby]

I thought that after a year of payment i would own shares? I can't remember when hsl started but surely it had been well over a year?

I think you have to request a share certificate from HSL it's not issued automatically.

[Baldy Foghorn]

I thought that after a year of payment i would own shares? I can't remember when hsl started but surely it had been well over a year?

You still wouldn't have your name on this list, you would be part of HSL Ltd, which is a collective

[Bostonhibby]

I think you have to request a share certificate from HSL it's not issued automatically.
Correct. It's on HSL website I think.

[overdrive]

I thought that after a year of payment i would own shares? I can't remember when hsl started but surely it had been well over a year?

No, you don't own shares in Hibs directly if you pay via HSL. HSL uses the money to buy shares in Hibs under the HSL umbrella. I think you become a member of HSL after the year of paying whatever it is a month. This is a list of people who own shares directly.

[BSEJVT]

Sorry, I was talking mince as we aren't a plc and the companies act sections on register of interests etc don't apply.

no problem Andy

Thanks anyway

[OfficialHSL]

I thought that after a year of payment i would own shares? I can't remember when hsl started but surely it had been well over a year?

Skedders

Don't worry, if you have contributed the required amount, you too are a part owner of our Club. Please feel free to send us a pm or alternatively email us at info@hiberniansupporters.co.uk

You will have an ownership document, just like a share certificate, to prove your status.


HSL

[Andy74]

Skedders

Don't worry, if you have contributed the required amount, you too are a part owner of our Club. Please feel free to send us a pm or alternatively email us at info@hiberniansupporters.co.uk

You will have an ownership document, just like a share certificate, to prove your status.


HSL

I think it would be more helpful when we are talking about the actual share register to acknowledge that HSL members will not form part of that register as they are not direct owners of shares in the club. There are advantages of being an HSL member which can be focused on but suggesting it is just the same in terms of ownership and share certificates isn't true.

[skedders]

Thanks all. The info is slowly permeating my dense cranium and forming something understandable 😆

[OfficialHSL]

I think it would be more helpful when we are talking about the actual share register to acknowledge that HSL members will not form part of that register as they are not direct owners of shares in the club. There are advantages of being an HSL member which can be focused on but suggesting it is just the same in terms of ownership and share certificates isn't true.

Andy

We do understand your viewpoint and we were trying to be helpful in responding to Skedders comments. You are right to highlight that there are many advantages to being an HSL Member and we always try to focus on these. What we do however want to be clear on is that HSL Members do have ownership status. A Membership Certificate for a Company limited by guarantee ( which HSL is ) is the same as a Share Certificate for a Company limited by capital. We are aware that there is sometimes the misconception that HSL membership is an inferior ownership status when in fact it is simply a different means of ownership. The Club enjoys the benefits of funding from both HSL and direct share purchases.

HSL

[offshorehibby]

I would encourage every Hibs Fan who can afford to do so buy shares in the next public sale (in addition to their HSL subscriptions)

I have no idea who or what is behind these nominee companies but the more ordinary shareholders we have the less influence they can ever have if someone were ever trying to buy all of their shares in a block.

The wider the shareholding is spread the less we ever have to fear.

To be clear I don't think we have anything to fear at present but I wouldn't like to see these faceless nominees continuing to acquire shareholdings in such blocks.

Andy,

How would one go about ascertain who were the individuals owning shares held in the various nominee companies?

Do you think Hibs will have another round of share buying, they've already opened it up twice.

[BSEJVT]

Do you think Hibs will have another round of share buying, they've already opened it up twice.

I cant think of any reason why they wouldn't do so other than if costs were prohibitive

[Andy74]

Andy

We do understand your viewpoint and we were trying to be helpful in responding to Skedders comments. You are right to highlight that there are many advantages to being an HSL Member and we always try to focus on these. What we do however want to be clear on is that HSL Members do have ownership status. A Membership Certificate for a Company limited by guarantee ( which HSL is ) is the same as a Share Certificate for a Company limited by capital. We are aware that there is sometimes the misconception that HSL membership is an inferior ownership status when in fact it is simply a different means of ownership. The Club enjoys the benefits of funding from both HSL and direct share purchases.

HSL

Yes but it is ownership of HSL and the membership certificate will show ownership of HSL.

HSL then purchases shares in Hibs on behalf of its members.

I think it would be more helpful to be very clear when people are asking about ownership/share certificates/register of the football club that it is different.

[BSEJVT]

Andy

We do understand your viewpoint and we were trying to be helpful in responding to Skedders comments. You are right to highlight that there are many advantages to being an HSL Member and we always try to focus on these. What we do however want to be clear on is that HSL Members do have ownership status. A Membership Certificate for a Company limited by guarantee ( which HSL is ) is the same as a Share Certificate for a Company limited by capital. We are aware that there is sometimes the misconception that HSL membership is an inferior ownership status when in fact it is simply a different means of ownership. The Club enjoys the benefits of funding from both HSL and direct share purchases.

HSL

Goodness I think that reply is very confusing to the average man in the street

I continue to subscribe to HSL, even after my year is up.

I am a member of HSL through my initial years subscriptions (I don't think my continuing payments confer further membership rights to me, nor do I need them to, I view them as a donation)

HSL owns shares in Hibs (paid for in part by my subscriptions and those of others)

I will never personally own shares in Hibs through this arrangement

[OfficialHSL]

Yes but it is ownership of HSL and the membership certificate will show ownership of HSL.

HSL then purchases shares in Hibs on behalf of its members.

I think it would be more helpful to be very clear when people are asking about ownership/share certificates/register of the football club that it is different.

Andy

I think the good thing about our exchange is that it will, we hope, made things very clear to our fellow supporters.

As you say our Members are the owners of HSL. You will appreciate that HSL owns nothing other than a part ownership of the Club and cannot own anything else. While our Members' individual names do not appear on the Share Register it does not deflect from their ownership status. They simply have different ownership rights.

HSL

[OfficialHSL]

Goodness I think that reply is very confusing to the average man in the street

I continue to subscribe to HSL, even after my year is up.

I am a member of HSL through my initial years subscriptions (I don't think my continuing payments confer further membership rights to me, nor do I need them to, I view them as a donation)

HSL owns shares in Hibs (paid for in part by my subscriptions and those of others)

I will never personally own shares in Hibs through this arrangement

We agree that the Club's ownership structure can be confusing to the average supporter and that is why we will always do our best to provide clarity.

It's great to hear that you are a part owner of the Club via HSL. While you will not acquire shares in your own name through your Membership of HSL you are the part legal owner of the entity that is the part owner of the Club. This is exactly the manner in which our principal shareholder maintains his ownership of the Club.In both cases, supporters will be given a Certificate with their own name on it. A Share Certificate and a Membership Certificate are legal equivalents. When joining HSL with £225 a member will own a part of their Club in the same sense as a fellow supporter acquiring £225 worth of shares. An HSL Member is not in any sense an inferior owner. They have slightly different ownership rights but they are both owners. And in both cases supporters can pass on their part ownership of the Club to their family. HSL Members proudly display their Ownership Certificate on their walls at home or office or work place.

We hope that between us we have helped to clarify the different approaches.


HSL

[BSEJVT]

We agree that the Club's ownership structure can be confusing to the average supporter and that is why we will always do our best to provide clarity.

It's great to hear that you are a part owner of the Club via HSL. While you will not acquire shares in your own name through your Membership of HSL you are the part legal owner of the entity that is the part owner of the Club. This is exactly the manner in which our principal shareholder maintains his ownership of the Club.In both cases, supporters will be given a Certificate with their own name on it. A Share Certificate and a Membership Certificate are legal equivalents. When joining HSL with £225 a member will own a part of their Club in the same sense as a fellow supporter acquiring £225 worth of shares. An HSL Member is not in any sense an inferior owner. They have slightly different ownership rights but they are both owners. And in both cases supporters can pass on their part ownership of the Club to their family. HSL Members proudly display their Ownership Certificate on their walls at home or office or work place.

We hope that between us we have helped to clarify the different approaches.


HSL

Thanks for taking the time to respond.

Nobody is suggesting for a second that HSL members are inferior owners.

I just happen to think that it is important that it is absolutely crystal clear to those considering becoming involved what the two routes are and how they differ and that this enables people to make their individual choices fully informed.

I own shares directly but am also more than happy to support HSL for as long as I can afford to do so.

I have already spent more through HSL that I have buying shares directly and that gap will increase exponentially over the coming years so there is absolutely no hidden agenda from me.

In an ideal world I would encourage people, who were able to afford to, to do both.

[NYHibby]

92.5m shares
HFC Holdings owns 61.4m

"Others" own 33.6% of the club.

To update this post, there are now 93.2m shares outstanding. "Others" now own a total of 34.1%. Of that, HSL owns not quite 11 percentage points.

For comparison, Budge owns more than 88% of Hearts.

[ColinNish]

We agree that the Club's ownership structure can be confusing to the average supporter and that is why we will always do our best to provide clarity.

It's great to hear that you are a part owner of the Club via HSL. While you will not acquire shares in your own name through your Membership of HSL you are the part legal owner of the entity that is the part owner of the Club. This is exactly the manner in which our principal shareholder maintains his ownership of the Club.In both cases, supporters will be given a Certificate with their own name on it. A Share Certificate and a Membership Certificate are legal equivalents. When joining HSL with £225 a member will own a part of their Club in the same sense as a fellow supporter acquiring £225 worth of shares. An HSL Member is not in any sense an inferior owner. They have slightly different ownership rights but they are both owners. And in both cases supporters can pass on their part ownership of the Club to their family. HSL Members proudly display their Ownership Certificate on their walls at home or office or work place.

We hope that between us we have helped to clarify the different approaches.


HSL

I think Andy74 explains this way better than your effort. Your post just muddies the water IMO.

[tam4hibs]

I would encourage every Hibs Fan who can afford to do so buy shares in the next public sale (in addition to their HSL subscriptions)

I have no idea who or what is behind these nominee companies but the more ordinary shareholders we have the less influence they can ever have if someone were ever trying to buy all of their shares in a block.

The wider the shareholding is spread the less we ever have to fear.

To be clear I don't think we have anything to fear at present but I wouldn't like to see these faceless nominees continuing to acquire shareholdings in such blocks.

Andy,

How would one go about ascertain who were the individuals owning shares held in the various nominee companies?

Sure you didn't realise but I'm sure there are some pretty strict rules on the promotion or encouragement of purchasing private Ltd Co shares and it's inherent high risk. Probably refrain from encouraging take up unless suitably authorised and an individual review carried out.

Maybe I'm just being an old fart; but sure admins had previous pinned some guidelines/rules on this around the last share sale. Maybe they could clarify?

[ColinNish]

Sure you didn't realise but I'm sure there are some pretty strict rules on the promotion or encouragement of purchasing private Ltd Co shares and it's inherent high risk. Probably refrain from encouraging take up unless suitably authorised and an individual review carried out.

Maybe I'm just being an old fart; but sure admins had previous pinned some guidelines/rules on this around the last share sale. Maybe they could clarify?

I don't think there's anything wrong with encouraging folk to buy shares direct when you can.
You had to sign a disclaimer before purchasing shares the last time to confirm you knew what you were doing. The time before that you could only buy them if you had been given advice from an IFA. It's nowhere near as easy as logging online and buying shares in a PLC.

[H18 SFR]

I'm on twice, old and new shares! Does that make me an Uberfan?


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You should get a free away season ticket..

[AndyM_1875]

Sure you didn't realise but I'm sure there are some pretty strict rules on the promotion or encouragement of purchasing private Ltd Co shares and it's inherent high risk. Probably refrain from encouraging take up unless suitably authorised and an individual review carried out.

Maybe I'm just being an old fart; but sure admins had previous pinned some guidelines/rules on this around the last share sale. Maybe they could clarify?

I bought my Hibs shares knowing that it was an emotional purchase. The shares had no real cash value and that what I was doing was in effect a donation to the club. I would say that is the approach to take if you are considering buying them. The club made the process very easy though and if and when the window opens again I will buy another block. It was a genuinely lovely feeling when the Certificate arrived and I opened it seeing that I owned a small piece in the club I had supported for more than 35 years.

But you are correct, do the research before buying.