Boardroom and share shenanigans.

[greenlex]

https://www.hibernianfc.co.uk/article/an-update-to-the-hibs-board

This could be interesting from an investment point of view. I wonder if it’s done.

[HoboHarry]

Begbie on the board? This might get good.......




:greengrin

[JohnM1875]

https://www.hibernianfc.co.uk/article/an-update-to-the-hibs-board

This could be interesting from an investment point of view. I wonder if it’s done.

Both local guys who support Hibs are they not?

[Carheenlea]

Begbie on the board? This might get good.......




:greengrin

https://i.postimg.cc/QCfLw0FD/IMG-1354.jpg (https://postimages.org/)

[greenlex]

Both local guys who support Hibs are they not?

Yes

[CapitalGreen]

Both local guys who support Hibs are they not?

At least one posts on here.

[TrinityHFC]

Robert Begbie is an extremely intelligent and commercial guy. Good addition.

[Greencore]

This could be interesting from an investment point of view. I wonder if it’s done.


How?
Just another appointment by the sounds of it.
Am I missing somthing ?

[CapitalGreen]

How?
Just another appointment by the sounds of it.
Am I missing somthing ?

He is referring to the final paragraph. Which leads me further to think we will be seeing a new share issue in the future.

[greenlex]

How?
Just another appointment by the sounds of it.
Am I missing somthing ?
If someone had just secured a 20% or whatever shareholding in the club you would assume he would want to have one of his own on the board. Has he invested or is he not now doing it? Is there another but if investment incoming?
Reporting a share discrepancy to companies house with a correction. What was it and how did it happen?

[TrinityHFC]

He is referring to the final paragraph. Which leads me further to think we will be seeing a new share issue in the future.

Eh? It is just referring to previous mistakes. It isn’t live yet to see what those might be but doesn’t suggest anything about new shares.

[TrinityHFC]

If someone had just secured a 20% or whatever shareholding in the club you would assume he would want to have one of his own on the board. Has he invested or is he not now doing it? Is there another but if investment incoming?
Reporting a share discrepancy to companies house with a correction. What was it and how did it happen?

We were two NEDs down, these are replacements. Future appointments can still happen.

[Lago]

If someone had just secured a 20% or whatever shareholding in the club you would assume he would want to have one of his own on the board. Has he invested or is he not now doing it? Is there another but if investment incoming?
Reporting a share discrepancy to companies house with a correction. What was it and how did it happen?
Oh oh, are you suggesting that the big bucks are no longer incoming?

[Torto7]

If someone had just secured a 20% or whatever shareholding in the club you would assume he would want to have one of his own on the board. Has he invested or is he not now doing it? Is there another but if investment incoming?
Reporting a share discrepancy to companies house with a correction. What was it and how did it happen?

Aren't they just replacing who's left? I doubt these two guys will have any impact on the proposed investment.

[greenlex]

Aren't they just replacing who's left? I doubt these two guys will have any impact on the proposed investment.
Wasn’t really suggesting that. I was suggesting that the investment hasn’t taken place yet or Foley would have his man/woman in.

[greenlex]

Oh oh, are you suggesting that the big bucks are no longer incoming?


Aren't they just replacing who's left? I doubt these two guys will have any impact on the proposed investment.

Wasn’t really suggesting that. I was suggesting that the investment hasn’t taken place yet or Foley would surely have his man/woman in.

[JohnM1875]

Wasn’t really suggesting that. I was suggesting that the investment hasn’t taken place yet or Foley would have his man/woman in.

Ah! So by done you meant not happening, sorry. Misunderstood you.

[TrinityHFC]

Wasn’t really suggesting that. I was suggesting that the investment hasn’t taken place yet or Foley would surely have his man/woman in.

Not expected to be done until January.

[Lago]

Wasn’t really suggesting that. I was suggesting that the investment hasn’t taken place yet or Foley would surely have his man/woman in.
OK, whew 🤞

[CapitalGreen]

Eh? It is just referring to previous mistakes. It isn’t live yet to see what those might be but doesn’t suggest anything about new shares.

It’s my opinion the clean up is a precursor to a new share issue.

[Mick O'Rourke]

Not expected to be done until January.

I would have thought,not being an expert of course, that publicising any increase in share buy/investment if it is ,a sizeable amount would only play into the hands of other clubs/agents of players we might be interested in or approach .
Thats common sense i suppose
Dont show your hand

[HibeeSince85]

I would have thought,not being an expert of course, that publicising any increase in share buy/investment if it is ,a sizeable amount would only play into the hands of other clubs/agents of players we might be interested in or approach .
Thats common sense i suppose
Dont show your hand

Hibs would have to report this to Companies House so it couldn't go unnoticed.

[Mick O'Rourke]

Hibs would have to report this to Companies House so it couldn't go unnoticed.
I see
Maybe wait till after Jan window to bring other investors/investment on board
Is that a good idea to do that ?
Could be Monty has already identified players he wants and its just a waiting game.
Interesting time these windows

[HibeeSince85]

I see
Maybe wait till after Jan window to bring other investors/investment on board
Is that a good idea to do that ?
Could be Monty has already identified players he wants and its just a waiting game.
Interesting time these windows

Good idea to wait? I wouldn't and I doubt Hibs would either if there were significant funds to strengthen in January. Most clubs don't get fleeced just because they have funds it's the ones with daft owners like at Man U who don't know how to spend it. Foley comes with a network already in place so the Jan transfers would most likely come from those clubs anyway.

All IMO btw.

[TrinityHFC]

Hibs would have to report this to Companies House so it couldn't go unnoticed.

Not quite. Companies House filings are required for all companies for things like your accounts, confirmation statements and copies of special resolutions.

For investment there are a couple of scenarios. One would be us issuing new shares. Shareholders would hear about that proposal in advance and would vote on it by special resolution. The resolution would then be filed.

If existing shares were being sold to new shareholders in theory you wouldn’t clock that at companies house until the confirmation statement was due for the period the transaction took place. Of course Hibs would publicise it well before then.

Hibs have talked about a regular audit finding some issues. As I understand it the previous finance / company secretary team left things in a bit of a shambles so it could just be mistakes on the register that are now being sorted.

If you were to be cynical, it could have been spotted by investors doing their due diligence or spotted internally while preparing that info.

[bingo70]

Not quite. Companies House filings are required for all companies for things like your accounts, confirmation statements and copies of special resolutions.

For investment there are a couple of scenarios. One would be us issuing new shares. Shareholders would hear about that proposal in advance and would vote on it by special resolution. The resolution would then be filed.

If existing shares were being sold to new shareholders in theory you wouldn’t clock that at companies house until the confirmation statement was due for the period the transaction took place. Of course Hibs would publicise it well before then.

Hibs have talked about a regular audit finding some issues. As I understand it the previous finance / company secretary team left things in a bit of a shambles so it could just be mistakes on the register that are now being sorted.

If you were to be cynical, it could have been spotted by investors doing their due diligence or spotted internally while preparing that info.

Looking at your last paragraph, if it was that, why would they need to appoint two new people to the board for that?

Couldn’t they just fix the administrative error?

Appreciate that’s probably a stupid question but I don’t know how these things work.

[Green Badger]

Not quite. Companies House filings are required for all companies for things like your accounts, confirmation statements and copies of special resolutions.

For investment there are a couple of scenarios. One would be us issuing new shares. Shareholders would hear about that proposal in advance and would vote on it by special resolution. The resolution would then be filed.

If existing shares were being sold to new shareholders in theory you wouldn’t clock that at companies house until the confirmation statement was due for the period the transaction took place. Of course Hibs would publicise it well before then.

Hibs have talked about a regular audit finding some issues. As I understand it the previous finance / company secretary team left things in a bit of a shambles so it could just be mistakes on the register that are now being sorted.

If you were to be cynical, it could have been spotted by investors doing their due diligence or spotted internally while preparing that info.

That’s exactly what I thought when I read it. Must be a cynic. :greengrin

[WeeRussell]

I read the first word as “bedroom” and was intrigued/concerned about what thread I was opening.

[Green Badger]

Looking at your last paragraph, if it was that, why would they need to appoint two new people to the board for that?

Couldn’t they just fix the administrative error?

Appreciate that’s probably a stupid question but I don’t know how these things work.

The two things are unrelated. Hibs just chose to announce them both at the same time.

[TrinityHFC]

Looking at your last paragraph, if it was that, why would they need to appoint two new people to the board for that?

Couldn’t they just fix the administrative error?

Appreciate that’s probably a stupid question but I don’t know how these things work.

Two different things.

They are appointing two Directors to replace the ones who are no longer there and then we are filing a replacement confirmation statement because there appears to have been some errors in the ones previously filed. These are things you file each year detailing amongst other things your share capital and transactions that have happened during the year.

It is a little unusual to mess that up but not unheard of!

[ancient hibee]

Two different things.

They are appointing two Directors to replace the ones who are no longer there and then we are filing a replacement confirmation statement because there appears to have been some errors in the ones previously filed. These are things you file each year detailing amongst other things your share capital and transactions that have happened during the year.

It is a little unusual to mess that up but not unheard of!

Correcting known errors before issuing the annual accounts.

[Hibbyradge]

I read the first word as “bedroom” and was intrigued/concerned about what thread I was opening.

Sex, sex, sex. That's all they think about...

[TrinityHFC]

Correcting known errors before issuing the annual accounts.

Mmm. Maybe but different info unless they’ve fundamentally got the share capital info wrong which I think would be unlikely. They’ve definitely spotted some wrong info, it is a matter of conjecture as to what prompted us to notice it just now.

[Centre Hawf]

Think people are reading too much into some things.

I imagine if anything happens with Foley it will probably take a while to get done and we'll probably be business as usual until something says otherwise.

[HUTCHYHIBBY]

I read the first word as “bedroom” and was intrigued/concerned about what thread I was opening.

It wasn't just me then! ☺️

[superfurryhibby]

"!Following a recent routine internal audit of the Club’s corporate documentation, the Club identified certain discrepancies in the shareholder information presented at Companies House in its annual confirmation statements. As a result, the Club has taken the necessary steps to correct these discrepancies by filing corrective confirmation statements at Companies House on 27 November 2023".

https://www.hibernianfc.co.uk/article/an-update-to-the-hibs-board

[Keith_M]

Begbie on the board? This might get good.......




:greengrin


Nae messin wi' Begbie!

[CropleyWasGod]

The revised Confirmation Statements haven't been published by Companies House yet, so it's impossible to know yet what the revisions are.

I do know from personal experience that the register of shareholders wasn't being well-managed. It is possible that these updates reflect that.

The latest CS is due with CH in January. That will tell us whether there have been any major changes in the share ownership.

[overdrive]

The revised Confirmation Statements haven't been published by Companies House yet, so it's impossible to know yet what the revisions are.

I do know from personal experience that the register of shareholders wasn't being well-managed. It is possible that these updates reflect that.

Have they cut the Finance Dept/Company Secretarial Dept back? I remember it being a lower level employee that got back to me about a query about my shareholding a while back. When I moved house it seemed to be the FD himself that was making the change and responded to me. I thought it was a bit of an odd thing for the FD to be doing himself.

[CropleyWasGod]

Have they cut the Finance Dept/Company Secretarial Dept back? I remember it being a lower level employee that got back to me about a query about my shareholding a while back. When I moved house it seemed to be the FD himself that was making the change and responded to me. I thought it was a bit of an odd thing for the FD to be doing himself.

Not sure about the staff, but I got the impression Chris Gaunt was taking responsibility for cleaning up whatever issues he inherited. It was he who (very quickly) got on to me, and cleared things up.