HSL- Pass the money to the club?

[chippy]

Been a recent discussion on the strategy of HS . Many posters on here wanting HS funds to go directly to the club as a donation. HS board trying to traverse this idea and holding funds for a future time when our shareholding can be protected or increased.
Have recent results and/or a possible poor recruitment plan changed any of our minds as to the best option or should HS do both?

[Glory Lurker]

Hibs have enough of my cash already so I agree with HSL stopping funding just now.

[heid the baw]

I'm certainly more in the hang onto the money camp now after the recent recruitment. It's scattergun as opposed to a strategy of moving players on and replacing them with better ones. We are just racking up a bloated wage bill and that's what HSL would be subsidising

Wasn't keen on Maloney or Johnson either,when we should have stuck with Ross or got McInnes when he was available. It will be interesting to see how Killie and Dundee Utd do this season. I fear we are set for a fair few heavy defeats this season

[cabbageandribs1875]

keep the cash HSL

[superfurryhibby]

HSL should keep the cash on hold.

[Northernhibee]

Not with these clowns in charge.

[WhileTheChief..]

Pass the club to HSL instead?!

[Glory Lurker]

Pass the club to HSL instead?!

We can dream.

[overdrive]

I think the poor recruitment and repeated admin blunders show that HSL were right to withhold the cash from the club.

[Pretty Boy]

If people felt that strongly about what happened to the HSL cash they could have went to the AGM or sent a proxy on their behalf to debate the matter and then vote on it.

Those who did turn up voted and the majority decision was to hold on to the cash at the moment. As a member organisation that is the known will of the members and therefore what should happen. There will be other opportunities to change the policy again but it's one of those things that if you feel strongly about it then you need to make the effort to change things.

Fwiw I think the decision to sit on the funds is the right one for now. There has been little in the way of concessions from the club to wok with HSL. They want the money but want to give up little in return.

[Wheat Hound]

Definitely do NOT give any more fan funds to Gordon and Kensall etc. They have wasted enough.

[Pagan Hibernia]

Ineligible player fiasco is just the latest symptom of a culture of incompetence at Hibs. I wouldn't be giving them any more money to pish down the drain just now.

remember hearts around 5 years ago? Couldn’t do a thing right. Hiring cathro, hiring Levein, buying entire teams of duds every transfer window, forgetting to order seats for the new stand, getting knocked out in the group stage of the league cup. That’s us now. And I laughed at FOH for throwing good money after bad at Budge back then. Let’s not make that mistake.

[Big_Franck]

If people felt that strongly about what happened to the HSL cash they could have went to the AGM or sent a proxy on their behalf to debate the matter and then vote on it.

Those who did turn up voted and the majority decision was to hold on to the cash at the moment. As a member organisation that is the known will of the members and therefore what should happen. There will be other opportunities to change the policy again but it's one of those things that if you feel strongly about it then you need to make the effort to change things.

Fwiw I think the decision to sit on the funds is the right one for now. There has been little in the way of concessions from the club to wok with HSL. They want the money but want to give up little in return.

I don't think it should be necessary to attend in person for members to vote on this though. It's 2022 ffs. Why should we have to attend in person to vote? I still have money come out my account every month and I'm going to cancel it now. Pointless it sitting in some bank account somewhere.

[scoopyboy]

If people felt that strongly about what happened to the HSL cash they could have went to the AGM or sent a proxy on their behalf to debate the matter and then vote on it.

Those who did turn up voted and the majority decision was to hold on to the cash at the moment. As a member organisation that is the known will of the members and therefore what should happen. There will be other opportunities to change the policy again but it's one of those things that if you feel strongly about it then you need to make the effort to change things.

Fwiw I think the decision to sit on the funds is the right one for now. There has been little in the way of concessions from the club to wok with HSL. They want the money but want to give up little in return.

That's good enough for me

[OldEast]

Absolutely hold on to the money.

[hhibs]

I don't think it should be necessary to attend in person for members to vote on this though. It's 2022 ffs. Why should we have to attend in person to vote? I still have money come out my account every month and I'm going to cancel it now. Pointless it sitting in some bank account somewhere.


You are right and Pretty boy is wrong,should be a system to vote on major issue without being there in peron.


However,lets keep the money in HSL for the moment.

PLEASE Big_Frank do not stop your subs,we may need them even more than before.

[Big_Franck]

You are right and Pretty boy is wrong,should be a system to vote on major issue without being there in peron.


However,lets keep the money in HSL for the moment.

PLEASE Big_Frank do not stop your subs,we may need them even more than before.

Who knows, maybe there is legislation that states votes like that need to be done in person? I doubt it though as it's ridiculously antiquated. I see no reason why HSL couldn't have arranged an electronic vote amongst it's members on how to proceed now that buying more shares isn't possible.

The cynic in me thinks an electronic vote amongst members might have resulted in a different result. Maybe that result wasn't what the few hardy souls that were going to turn up had planned for HSL.

[Greencore]

Keep cash.

[Daniel 1875]

Who knows, maybe there is legislation that states votes like that need to be done in person? I doubt it though as it's ridiculously antiquated. I see no reason why HSL couldn't have arranged an electronic vote amongst it's members on how to proceed now that buying more shares isn't possible.

The cynic in me thinks an electronic vote amongst members might have resulted in a different result. Maybe that result wasn't what the few hardy souls that were going to turn up had planned for HSL.

Members didn’t have to vote in person, there was the option to vote by proxy for anyone who couldn’t attend in person.

[Big_Franck]

Members didn’t have to vote in person, there was the option to vote by proxy for anyone who couldn’t attend in person.

Which is still awkward to arrange and IMO unnecessary. Can I ask why no electronic vote/poll was arranged?

[Daniel 1875]

Which is still awkward to arrange and IMO unnecessary. Can I ask why no electronic vote/poll was arranged?

The Articles of Association state any resolutions need to be voted for in person or by proxy at an AGM.

[Brooster]

Keep the cash for now. This lot will blow it on an untried youngster who they haven't even watched.

[Brooster]

The Articles of Association state any resolutions need to be voted for in person or by proxy at an AGM.

Hi Daniel, are you at liberty to say how much HSL hold at the moment and what the monthly contributions are currently standing at.

[Big_Franck]

The Articles of Association state any resolutions need to be voted for in person or by proxy at an AGM.

Well that needs to be changed in my opinion. It's a ridiculously outdated way of gathering the opinion of thousands of members in 2022.

[chippy]

It seems the mood has changed somewhat and that almost all posters so far want HSL to build up a wedge. I was always in favour of that as who knows what will happen. How long the Gordon’s will stay, etc. Best to have a big fund available and ready to protect the shareholding at some future date or if the governance of the club deteriorates further.

[CropleyWasGod]

Well that needs to be changed in my opinion. It's a ridiculously outdated way of gathering the opinion of thousands of members in 2022.

A change like that would be up to the members.


This might help. There are obstacles for HSL holding a virtual AGM, particularly on security. Overcoming these might be expensive.

https://www.eqs.com/en-gb/ir-knowledge/blog/virtual-annual-general-meetings-update/

For some years in the UK it was possible for companies to hold a virtual-only AGM as per section 360A of the Companies Act 2006 inserted by the Shareholder Rights Regulations 2009. In June 2016 EQS Group supported the first virtual-only AGM for Jimmy Choo in UK. Following this, the legal community interpreted the legislation as the ‘place’ of meeting meaning a physical place. Therefore AGMs need to be in-person or hybrid (in person and virtual).

The temporary Companies Act dispensation that was introduced via the Corporate Insolvency and Governance Act 2020 (CIGA) in June 2020 which allow companies to hold their AGMs virtually has been extended until March 2021 however the situation beyond this date remains unclear.

[Big_Franck]

A change like that would be up to the members.


This might help. There are obstacles for HSL holding a virtual AGM, particularly on security. Overcoming these might be expensive.

https://www.eqs.com/en-gb/ir-knowledge/blog/virtual-annual-general-meetings-update/

For some years in the UK it was possible for companies to hold a virtual-only AGM as per section 360A of the Companies Act 2006 inserted by the Shareholder Rights Regulations 2009. In June 2016 EQS Group supported the first virtual-only AGM for Jimmy Choo in UK. Following this, the legal community interpreted the legislation as the ‘place’ of meeting meaning a physical place. Therefore AGMs need to be in-person or hybrid (in person and virtual).

The temporary Companies Act dispensation that was introduced via the Corporate Insolvency and Governance Act 2020 (CIGA) in June 2020 which allow companies to hold their AGMs virtually has been extended until March 2021 however the situation beyond this date remains unclear.

Hybrid then. They could have used Zoom, Teams etc to allow others to 'attend' and vote.

And I'm guessing to change the articles of association members would probably need to attend in person (or somehow convince a mate to waste a night going along for you) :greengrin

It all seems very 80s bowling club committee to me.

[Daniel 1875]

Hybrid then. They could have used Zoom, Teams etc to allow others to 'attend' and vote.

And I'm guessing to change the articles of association members would probably need to attend in person (or somehow convince a mate to waste a night going along for you) :greengrin

It all seems very 80s bowling club committee to me.

Proxy votes could/can be submitted by post. It’s the same way the AGM works at the club.

[Big_Franck]

Proxy votes could/can be submitted by post. It’s the same way the AGM works at the club.

By post? My point still stands, it's all very antiquated and needs modernised.

[Billy Whizz]

By post? My point still stands, it's all very antiquated and needs modernised.

Make some suggestions then

[Scotty Leither]

Not with these clowns in charge.

Correct. If you gave it to any of the current Board they'd probably leave it on the bus.

[HendoDelivered]

Keep. The. Cash.

[Big_Franck]

Make some suggestions then

I have, read my posts. A 'hybrid' AGM allowing far more members to attend and to vote on resolutions would be a clear improvement and easy to arrange in this day and age.

[The Captain....]

Defo withhold the cash, have no confidence it will be spent wisely.

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[jacomo]

If people felt that strongly about what happened to the HSL cash they could have went to the AGM or sent a proxy on their behalf to debate the matter and then vote on it.

Those who did turn up voted and the majority decision was to hold on to the cash at the moment. As a member organisation that is the known will of the members and therefore what should happen. There will be other opportunities to change the policy again but it's one of those things that if you feel strongly about it then you need to make the effort to change things.

Fwiw I think the decision to sit on the funds is the right one for now. There has been little in the way of concessions from the club to wok with HSL. They want the money but want to give up little in return.


Fair enough.

Thanks for clarifying… seems like the decision was given due thought.

[Bostonhibby]

Well that needs to be changed in my opinion. It's a ridiculously outdated way of gathering the opinion of thousands of members in 2022.Probably best to stay on the right side of the law and do what the articles allow, whatever the frustration it's what every association of it's type has to do, vote to amend, and carry on.

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