Acquiring Shares for Hibernian Supporters

[3pm]

This is the latest email from Hibernian Supporters (Limited)...

———

As a result of the recent acquisition of a majority shareholding in the Club by Bydand Sports LLC our path to a 25.1% ownership stake has become a little less straightforward.

We realise that for some of our Members this is less of an issue, but for many it is. Our principal objective in our Articles is to acquire as many shares in our football club as possible, with no time limit stated or implied.

With this in mind your Board have resolved to continue this pursuit given that there remains around 17% in the hands of other shareholders, while we retain around 15.4 %.

Over the last few years Hibernian Supporters have already received donations of shares from other shareholders. In some cases, this has been in relation to deceased relatives, but in others, it has been from supporters who have thought more about the manner in which they want to own their ownership stake. We continue to receive donations and in the last week alone we have received pledges of over 250,000 shares.

We intend to make a wider appeal to both small shareholders and Nominee shareholders but before doing so it seemed only sensible to start with our own Members first, many of whom we know are also small shareholders.

Our starting position is the assumption that nearly all small shareholders bought shares for emotional reasons only. We don’t think many bought to make money nor indeed for voting rights. In most cases to have the “badge” of a Share Certificate in your name, to be a prized possession. If we are right with this we are wondering if many more of you would consider doing what more and more are already doing. When we have spoken to existing donors they have said:
· It doesn’t matter how many shares are on my Certificate as long as I have one
· I’m not sure if I would ever vote on matters it would just depend where I was at the time
· I wasn’t looking to make money out of the shares anyway
· If I can keep a handful of shares I still get an invite to the AGM and pass them on to relatives if I want
· I would rather HSL have most of my shares as at least I know my votes would never be wasted.

Our most popular donation to date has been from those with 5000 shares (cost £200) and in most cases the donor has retained 50 shares and donated 4950 to Hibernian Supporters.

If you would like to donate, or want more information please email info@hiberniansupporters.co.uk


Hibernian Supporters

*Your shares are a financial asset, their value could go up or down. If you are in any doubt about donating your shares or what action you should take you are recommended to seek your own personal financial and legal advice from an appropriately qualified person, for example, a bank manager, solicitor, accountant or independent financial advisor. Hibernian Supporters cannot give such advice.

[mim]

I like the idea of pledging shares to HSL.
If HSL shareholding plus pledges reach the magic 25.1 percent, I would be prepared to donate my shares.

[Monts]

Would a donation of shares get your name on the shirt?

[DaveF]

I like the idea of pledging shares to HSL.
If HSL shareholding plus pledges reach the magic 25.1 percent, I would be prepared to donate my shares.

It's a decent idea and I could be tempted to part with mine but realistically is there a chance that HSL could get 10 of that 17% out there in this manner?

[Daniel 1875]

For me it would be important to know where the 17% of shares are currently held and for a general survey of shareholders to be done to see how many would be open to donating a bulk of theirs to the HSL cause.

I do feel there's more bargaining power in a fans collective than each individual shareholder has, and I think there will be quite a lot of interest in this. The real issue is the anonymous nominee shareholdings and whether or not they are interested.

Something which I'm sure will be discussed at the meeting tomorrow night at Easter Road.

[Monts]

Could there be a sort of pledge system? Where people pledge shares on the basis that the number of shares required is met? If it's met, the shares transfer goes through. If it's not met, they go back to the original owner.

[jacomo]

Of the 17% of shares in independent hands, how many have been bought by individual fans and how many are larger holdings?

Is it realistic for HSL to get to a 25.1% shareholding via this route? And is HSL working with the support of Ron here, or does he also have aspirations to increase his shareholding?

I am still contributing to HSL on a monthly basis for now, but there still appear to be more questions than answers at this stage.

[Hibbyradge]

I'm still donating £18.75 a month.

What's happening with it now?

[lucky]

I’m a HSL member and donated above the required amount but stopped donating when they appeared to become less democratic. At the start HSLs aim was to get fans to donate and eventually elect a member onto the Hibs board to represent HSL shareholders, this was changed to be a HSL Director only. To become a candidate in the HSL Director election you needed, I think over 30 nominations, but only existing HSL Directors have access to the data base to know who were members. Again this was never stipulated at the start.

As individuals Hibs shareholders why do we need to hand our shares over to HSL? HSL have 17% of shares under its control but individual fans have 15%. If Ron tried something on like moving the ground then individual fans would react against it. There is no need for individuals to give up their shares. Unfortunately for HSL members the idea of fan ownership is gone as is the additional money to the club. I can’t see HSL growing and think donating to them just now is pointless as no one knows what the money is going to used for.

[linlithgowhibbie]

I'm still donating £18.75 a month.

What's happening with it now?

I believe it is being held in the bank till things settle/get agreed.

Keep contributing guys/gals it will all go to the Hibs eventually:thumbsup:

[offshorehibby]

As individuals Hibs shareholders why do we need to hand our shares over to HSL? HSL have 17% of shares under its control but individual fans have 15%. If Ron tried something on like moving the ground then individual fans would react against it. There is no need for individuals to give up their shares. Unfortunately for HSL members the idea of fan ownership is gone as is the additional money to the club. I can’t see HSL growing and think donating to them just now is pointless as no one knows what the money is going to used for.

It's thought that if it ever came to a vote a lot of individual shareholders might not vote for various reasos, can't be bothered, forgotton they had shares, deceased, out of touch and don't know about vote.

If one fans group has X amount of shares they might be able to stave of we Ron selling the place down the river.

[Brummie_Hibs]

The sad truth of the matter is that I dont have much faith in the competency of HSL to give them my tiny amount of shares.

So I'll hang on to my shares for the moment.

I will carry on my donations to HSL for the time-being, but would prefer just giving my humble donation money to a dedicated, unambiguous fund purely for transfers, stadium upgrades, etc.

[The 90+2]

I believe it is being held in the bank till things settle/get agreed.

Keep contributing guys/gals it will all go to the Hibs eventually:thumbsup:

Hope the savings account has a decent interest rate?

[Purple & Green]

It's a decent idea and I could be tempted to part with mine but realistically is there a chance that HSL could get 10 of that 17% out there in this manner?

No I don’t think there is, and I find the timing bizarre ahead of a consultation with members tomorrow.

[Purple & Green]

Ron owns 67%, nominee(s) hold 10%.

I’d be amazed if hsl don’t know who holds that 10% given the football club board would have had to have approved the transaction and LD is on both boards. It might even be her that holds 10%

By my fingers and thumbs I reckon that leaves 23% of which we know hsl own 15% so without clarity on the nominees I don’t know if hsl can ever attain 25% now.

[Argylehibby]

Ron owns 67%, nominee(s) hold 10%.

I’d be amazed if hsl don’t know who holds that 10% given the football club board would have had to have approved the transaction and LD is on both boards. It might even be her that holds 10%

By my fingers and thumbs I reckon that leaves 23% of which we know hsl own 15% so without clarity on the nominees I don’t know if hsl can ever attain 25% now.

Even if the club know who the beneficial owners of the shares held by the nominee are, HSL won't and shouldn't know. HSL are just a shareholder like many others and there is no reason or legal requirement for other shareholders to know who those beneficial holders are.

[Billy Whizz]

No I don’t think there is, and I find the timing bizarre ahead of a consultation with members tomorrow.

What time is the meeting tomorrow, can’t find my email

[Purple & Green]

Even if the club know who the beneficial owners of the shares held by the nominee are, HSL won't and shouldn't know. HSL are just a shareholder like many others and there is no reason or legal requirement for other shareholders to know who those beneficial holders are.

Sorry I didn’t explain that very well - the club know who the beneficial owner of the shares is, they approved the transaction. LD is a director of both club and hsl.

The directors of hsl have just made an appeal for share donations. I get some fans are happy to donate, that’s up to them. I think all the above is a potential concern.

[Purple & Green]

What time is the meeting tomorrow, can’t find my email

I think 6:30 At easter road but I’ll check

[Green_one]

It's a decent idea and I could be tempted to part with mine but realistically is there a chance that HSL could get 10 of that 17% out there in this manner?

As a shareholder I would need to understand the advantages to Hibs of transferring my shares. For example how is reaching 25% in the hands on HSL better than 32% across all minor shareholders. Also can the main shareholder not just move the goalposts by increasing the number of shares overall.

[Pagan Hibernia]

As a shareholder I would need to understand the advantages to Hibs of transferring my shares. For example how is reaching 25% in the hands on HSL better than 32% across all minor shareholders. Also can the main shareholder not just move the goalposts by increasing the number of shares overall.

as he owns less than 75% he would need the approval of the remaining shareholders for a new share issue.

[Purple & Green]

Wednesday 14th August

Location – West Stand, Easter Road Stadium

Time – 6.30pm

Attendees – Hibernian Supporters Members and Contributors ONLY

Please note that this will be strictly observed so please bring along ID.

Wednesday 21st August

Location – HSA (The Hibs Club) Sunnyside, off Easter Road

Time – 6.30pm

Attendees – HSA Members only (which will include Hibernian Supporters Members/Contributors)

Once again this will be strictly observed by the Trustees of the Club

We are guests of the Trustees of the Club and greatly appreciate their interest in Hibernian Supporters

[SunshineOnLeith]

I'm still donating £18.75 a month.

What's happening with it now?

HSL do seem oddly reticent to answer this question.

[SouthMoroccoStu]

Without sounding too much like a opportunistic capitalist....

How much are shares in Hibs worth?

"Our most popular donation to date has been from those with 5000 shares (cost £200)" This seems a bit low... although I applaud the donor to for their generosity

GGTTH

[Radium]

HSL do seem oddly reticent to answer this question.

It’s going into the account but is awaiting the outcome of the upcoming consultation process.

What will happen is anyones guess given the breadth of views.

What it will not be doing atm is putting money into the club as there are no shares to buy.

Hopefully more information at the meetings


Sent from my iPhone using Tapatalk

[DaveF]

HSL do seem oddly reticent to answer this question.

No they are not. It was stated clearly in an email right after the takeover and posted here often enough when others asked the question.

[Argylehibby]

As a shareholder I would need to understand the advantages to Hibs of transferring my shares. For example how is reaching 25% in the hands on HSL better than 32% across all minor shareholders. Also can the main shareholder not just move the goalposts by increasing the number of shares overall.

There is none as long as 1, the individual shareholders address is correct on the register of shareholder so they get the communication and 2, they vote using the proxy form that will be sent to them ahead of the meeting. If they don't vote then Ron would be harder to beat on any proposal he put to the meeting as he needs 75% of the votes not of the shares held.

[Is It On....]

Without sounding too much like a opportunistic capitalist....

How much are shares in Hibs worth?

"Our most popular donation to date has been from those with 5000 shares (cost £200)" This seems a bit low... although I applaud the donor to for their generosity

GGTTH

They were sold at 4p each. A minimum subscription of 5,000 shares is £200. My original certificate has Douglas Cromb’s signature on it but can’t remember how much they were 🤔

[3pm]

Any updates from tonight’s meeting appreciated. 👍🏻

[Valencia]

They were sold at 4p each. A minimum subscription of 5,000 shares is £200. My original certificate has Douglas Cromb’s signature on it but can’t remember how much they were 🤔

360 shares were £198 so 55p each

[Is It On....]

360 shares were £198 so 55p each

Think you are right...went halves with my dad..£99 net was a weeks wages for me at the time..

[Gmack7]

Did RP sell his shares to Ron aswell? I'm assuming he did

[CockneyRebel]

They were sold at 4p each. A minimum subscription of 5,000 shares is £200. My original certificate has Douglas Cromb’s signature on it but can’t remember how much they were ��


I bought 5,000 (ordinary) shares just three years ago for £200 so 4p each. As has been suggested I would like to hang onto the shares but sign over the voting rights to HSL if this is feasible . If not then I will probably follow the other route and hang onto say 50 shares and donate the rest to HSL. I will still have a certificate to pass on to my son and he would still be a (very small) shareholder.

[Argylehibby]

I bought 5,000 (ordinary) shares just three years ago for £200 so 4p each. As has been suggested I would like to hang onto the shares but sign over the voting rights to HSL if this is feasible . If not then I will probably follow the other route and hang onto say 50 shares and donate the rest to HSL. I will still have a certificate to pass on to my son and he would still be a (very small) shareholder.

Is there any reason why you couldn't / wouldn't vote your own shares? If not there is no benefit to transferring to HSL.

The issue really is whether or not individual shareholders would take the time to open the letter with the proxy card from the club, tick the box(es) on the form showing how you want to vote, stick the form in an envelope and send it back to the club. If it's a major issue of the nature folk appear to be worried about then I'm sure that it will be discussed on here (at length) and elsewhere and that shareholders will take that time to vote. If your form doesn't arrive then you can get a replacement from the club so still be able to vote. Voting will be no more time consuming than transferring shares to HSL.

Remember if you are a shareholder (i.e. not through HSL) then you can actually turn up at the meeting and participate but you can still vote without actually attending if that's your preference.

[MB62]

360 shares were £198 so 55p each

This is what I paid for mine at the original flotation many moons ago.

[The 90+2]

Did RP sell his shares to Ron aswell? I'm assuming he did

Most of them probably.

[offshorehibby]

Is there any reason why you couldn't / wouldn't vote your own shares? If not there is no benefit to transferring to HSL.

The issue really is whether or not individual shareholders would take the time to open the letter with the proxy card from the club, tick the box(es) on the form showing how you want to vote, stick the form in an envelope and send it back to the club. If it's a major issue of the nature folk appear to be worried about then I'm sure that it will be discussed on here (at length) and elsewhere and that shareholders will take that time to vote. If your form doesn't arrive then you can get a replacement from the club so still be able to vote. Voting will be no more time consuming than transferring shares to HSL.

Remember if you are a shareholder (i.e. not through HSL) then you can actually turn up at the meeting and participate but you can still vote without actually attending if that's your preference.

There could be loads of reasons why a person wouldn;t vote in something major or to block being sold down the river. a) Cann't be bothered, b) Forgoten you had shares, c) Didn't realise there was a vote.

One group with the aithority to vote and block something dodgy seems a good idea.

[Monts]

Did RP sell his shares to Ron aswell? I'm assuming he did

I'm not sure he had any shares directly. Did he not own 10% of STFs holding company that in turn owned shares in the club?

[jacomo]

I'm not sure he had any shares directly. Did he not own 10% of STFs holding company that in turn owned shares in the club?


Yes.

[Argylehibby]

There could be loads of reasons why a person wouldn;t vote in something major or to block being sold down the river. a) Cann't be bothered, b) Forgoten you had shares, c) Didn't realise there was a vote.

One group with the aithority to vote and block something dodgy seems a good idea.

I agree there will be reasons why someone doesn't vote and can't be bothered is the one that will be most damaging. The problem with that is if someone can't be bothered voting when it really matters will they be bothered now to transfer shares when it's only a hypothetical problem some time in the future?

The thread is on here looking for donations so anyone who has read it will surely read a thread asking shareholders to vote on a matter that threatens the clubs future. I struggle to believe that having done so they wouldn't then vote. If you hold shares you will have received communication from the club every year and you will get the one we all dread receiving. So forgetting you have shares isn't likely but if you have you won't remember you have shares to transfer either.

Not knowing about the meeting (especially for members on this site) seems unlikely too. Of course if you moved house and didn't tell the club then that's an issue. So too is going on a 3 or 4 week holiday when the vote is open. As I said at the start there will be reasons why individuals done vote but the key to stopping any unwelcome resolution going through is really down to influencing the nominees and how they vote.