Additional funding

[Ringothedog]

Just received a WhatsApp about additional funding in the club. Is this the funding that was agreed at the AGM or is it even more money into the club?

[CallumLaidlaw]

Looks like it’s additional funding.


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[h185forever]

I’ve just seen the latest WhatsApp from HFC re additional investment into the club. While it’s welcome it suggested that the club wrote to all shareholders about this. I don’t remember getting any info re this but I may well be going senile.

[ElginHibbie]

Gray's wage demands must be massive

[.Sean.]

Wonder how significant this is will be

[h185forever]

Can an admin merge with the other thread plz ?

[LEaston87]

That’s Maolida’s wages sorted hwg

[DH1875]

Where is the funding coming from?

[BT58]

Good to see HSL getting shares, hopefully attract lapsed members and potential new members to contribute
B

[overdrive]

It says that they wrote to all shareholders. I didn’t receive anything. Did anyone else?

[ElginHibbie]

Where is the funding coming from?

Hibernian FC can confirm that additional investment into the Football Club has been successfully completed.
Ahead of the upcoming 2024/25 season, club shareholders Leslie Robb, Hibernian Supporters Limited (HSL), and Bydand Sports LLC, have all increased their respective shareholdings by subscribing for additional shares in the capital of the Football Club, with the approval and support of the Black Knight Football Group.
The Club wrote to all shareholders and having obtained the necessary level of approval, the Board formally finalised the additional investment at the latest board meeting on Tuesday 4 June, 2024.

[CropleyWasGod]

Hibernian FC can confirm that additional investment into the Football Club has been successfully completed.
Ahead of the upcoming 2024/25 season, club shareholders Leslie Robb, Hibernian Supporters Limited (HSL), and Bydand Sports LLC, have all increased their respective shareholdings by subscribing for additional shares in the capital of the Football Club, with the approval and support of the Black Knight Football Group.
The Club wrote to all shareholders and having obtained the necessary level of approval, the Board formally finalised the additional investment at the latest board meeting on Tuesday 4 June, 2024.

No they didn't.

[Trinity Hibee]

No they didn't.

Pretty poor if that’s the case. Feels like a lot of deals being pushed through without proper consultation with fans/shareholders

[Unseen work]

Are we skint/struggling and this is essential to make ends meet?

Getting the fear over the last couple of months we’re struggling

[Ringothedog]

No they didn't.

It might have been in the AGM documentation that this could be done? I can’t find mine so can’t confirm one way or another

[Callum_62]

Are we skint/struggling and this is essential to make ends meet?

Getting the fear over the last couple of months we’re strugglingI'd very much doubt that so soon after we received significant investment from a large footballing conglomerate

The due diligence on us would have been extensive

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[Pretty Boy]

It says that they wrote to all shareholders. I didn’t receive anything. Did anyone else?

I clocked that too.

I didn't receive anything either and neither did a couple of other shareholders I just spoke with.

Not a big deal really but a bit odd. I suppose the suspension of pre exemption rights means there was no obligation to offer us shares; I'm not sure if that also means there is no obligation to tell us about such things.

[scuttle]

It says that they wrote to all shareholders. I didn’t receive anything. Did anyone else?

Never heard anything either

[Wembley67]

Quite happy that some of the very minted directors are willing to put more money into the club and I'm pretty sure it will be substantial amounts as well.

[CropleyWasGod]

It might have been in the AGM documentation that this could be done? I can’t find mine so can’t confirm one way or another

Put out incorrect statements?

I realise that the fan-shareholders wouldn't be able to affect the decision, but it's simply not true that all shareholders were written to.

[04Sauzee]

Are we skint/struggling and this is essential to make ends meet?

Getting the fear over the last couple of months we’re struggling

I can't imagine we have done up the famous five , spent on the pitch, put in safe standing and then looked in the piggy bank and thought f***

[marinello59]

Put out incorrect statements?

I realise that the fan-shareholders wouldn't be able to affect the decision, but it's simply not true that all shareholders were written to.

A big fat lie. That's just not on, a sign of contempt for the little people.

[CropleyWasGod]

Taking the statement at face value (and I have my doubts as to whether that's wise :greengrin), it does appear that the BK investment has been diluted. That gives them wiggle-room to invest more, to get them back up to 25%, if they want.

[bingo70]

Are we skint/struggling and this is essential to make ends meet?

Getting the fear over the last couple of months we’re struggling

This is what I’m wondering?!

Also, do we need to advertise this new investment? Would it not make more sense to do it on the quiet?

[Jones28]

Are we skint/struggling and this is essential to make ends meet?

Getting the fear over the last couple of months we’re struggling

I don't think we are, there would have been much more rumbling around if there were any financial issues.

The accounts this year looked bad but we've been told by the club this is an anomaly and they will be much healthier next year.

[CropleyWasGod]

This is what I’m wondering?!

Also, do we need to advertise this new investment? Would it not make more sense to do it on the quiet?

It will be in the public domain shortly, as it has to be published at Companies House.

[Pedantic_Hibee]

Taking the statement at face value (and I have my doubts as to whether that's wise :greengrin), it does appear that the BK investment has been diluted. That gives them wiggle-room to invest more, to get them back up to 25%, if they want.

That was my first thought as well.

[Bostonhibby]

No they didn't.They definitely haven't written to me.

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[Jones28]

This is what I’m wondering?!

Also, do we need to advertise this new investment? Would it not make more sense to do it on the quiet?

Maybe to please the fans who demand the club keep us informed of anything and everything.

How can it be that the club gets significant enough investment to feel the need to make a statement and it be anything other than a positive thing?

[Bostonhibby]

Maybe to please the fans who demand the club keep us informed of anything and everything.

How can it be that the club gets significant enough investment to feel the need to make a statement and it be anything other than a positive thing?It's the issue of a business, any business, saying it's contacted shareholders about raising funds if/when it actually hasn't that might cause eyebrows to be raised.

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[Chorley Hibee]

I don't think we are, there would have been much more rumbling around if there were any financial issues.

The accounts this year looked bad but we've been told by the club this is an anomaly and they will be much healthier next year.

I have my doubts about that.

No Europe, less prize money, less season tickets.

I think we'll be seeing further losses.

[matty_f]

Put out incorrect statements?

I realise that the fan-shareholders wouldn't be able to affect the decision, but it's simply not true that all shareholders were written to.
Unless the letters are in the post... This was approved on the 4th so I would expect something through today if we've been written to.

[CropleyWasGod]

I have my doubts about that.

No Europe, less prize money, less season tickets.

I think we'll be seeing further losses.

The next accounts will cover the season just ended. Financially, we did have an okay season,(Europe, for example) and I wouldn't be surprised if our turnover is similar to Hearts.

The ones after that, though, won't be as good.

[matty_f]

Taking the statement at face value (and I have my doubts as to whether that's wise :greengrin), it does appear that the BK investment has been diluted. That gives them wiggle-room to invest more, to get them back up to 25%, if they want.

Yeah - I think it has to be additional.

In the original BKFC transaction, Bydand were only converting debt to equity, no new capital was needed from them.

Lesley Robb was not investing, just being diluted.

HSL were not permitted to participate.

This is a separate transaction and more investment

Whether that's to grow the club or plug gaps, I don't know.

[Chorley Hibee]

The next accounts will cover the season just ended. Financially, we did have a good season,(Europe, for example) and I wouldn't be surprised if our turnover is similar to Hearts.

The ones after that, though, won't be as good.

Yes, my mistake.

I still have my doubts as to whether we'll see any profit for that year.

The signings (or lack of them) over the next couple of months might show us a further picture.

[jeffers]

I don't think we are, there would have been much more rumbling around if there were any financial issues.

The accounts this year looked bad but we've been told by the club this is an anomaly and they will be much healthier next year.

Everything I heard was we didn’t have much to spend at all. Monty was told not you expect any of the BK money. Last season hit us hard, then factor in all the money we are chucking away on wages for guys contributing heehaw - approx £15k pw for Tavares, McKirdy and Kenneh as an example.

As I posted on the new manager thread the outlook is now much more positive. We need to move on lots of players but we will now have a decent budget for the upcoming season. Only a week or so ago that wasn’t the message I was getting.

[GreenNWhiteArmy]

For simple people, why would BK dilute their investment after 3 months?

Also another X in the poor governance of the club IF we haven't communicated, as stated, to the entirety of our shareholder given the statement

[KeithTheHibby]

Taking the statement at face value (and I have my doubts as to whether that's wise :greengrin), it does appear that the BK investment has been diluted. That gives them wiggle-room to invest more, to get them back up to 25%, if they want.

In essence what is there to stop this happening every time we need further investment?

[CropleyWasGod]

In essence what is there to stop this happening every time we need further investment?

The depth of the shareholders' pockets.

(or did you mean the misleading statement? :rolleyes:)

[Pedantic_Hibee]

For simple people, why would BK dilute their investment after 3 months?

Also another X in the poor governance of the club IF we haven't communicated, as stated, to the entirety of our shareholder given the statement

BK haven’t diluted their investment themselves. The purchase of additional shares from other parties naturally dilutes their share (giving them the opportunity to purchase more shares themselves, ergo further investment)

[Jones28]

Everything I heard was we didn’t have much to spend at all. Monty was told not you expect any of the BK money. Last season hit us hard, then factor in all the money we are chucking away on wages for guys contributing heehaw - approx £15k pw for Tavares, McKirdy and Kenneh as an example.

As I posted on the new manager thread the outlook is now much more positive. We need to move on lots of players but we will now have a decent budget for the upcoming season. Only a week or so ago that wasn’t the message I was getting.

Yikes, £15k a week on those three is a bit scary - well except Jair of course, who will make us a fortune one day :greengrin

I'm pleased HSL have been given a route back in as well, hopefully they've been able to get all the cash they were holding in to the club.

Re Monty and the Black Knights cash - if he was told not to expect any of it was, it all earmarked for infrastructure? Indoor pitch etc?

[Unseen work]

I can't imagine we have done up the famous five , spent on the pitch, put in safe standing and then looked in the piggy bank and thought f***

See I’m the opposite, I think that’s exactly what has happened.

They expected top 6 and Monty to still be in a job, both of those will cost the club a lot of money and then the potential of paying compensation for some of the new staff

[Jones28]

Yes, my mistake.

I still have my doubts as to whether we'll see any profit for that year.

The signings (or lack of them) over the next couple of months might show us a further picture.

See Jeffers post for a more optimistic outlook.

[Jones28]

See I’m the opposite, I think that’s exactly what has happened.

They expected top 6 and Monty to still be in a job, both of those will cost the club a lot of money and then the potential of paying compensation for some of the new staff

They could easily have pushed the FF plans back another year if they were that concerned surely?

[TrinityHFC]

BK haven’t diluted their investment themselves. The purchase of additional shares from other parties naturally dilutes their share (giving them the opportunity to purchase more shares themselves, ergo further investment)

Yeah, think it is a move to give a little more wiggle room to get investment from them rather than donations.

It can’t be too significant. If you think of the funds HSL were sat on it wasn’t that much.

We did dis apply pre emption rights at the AGM, which ironically HSL voted against, so these additional shares could be offered in a directed way rather than to all of us. I assume HSL won’t make a fuss now they are on the receiving end…

[jeffers]

Yikes, £15k a week on those three is a bit scary - well except Jair of course, who will make us a fortune one day :greengrin

I'm pleased HSL have been given a route back in as well, hopefully they've been able to get all the cash they were holding in to the club.

Re Monty and the Black Knights cash - if he was told not to expect any of it was, it all earmarked for infrastructure? Indoor pitch etc?

That was my understanding. I can’t say for certain it’s an accurate figure but I heard the indoor pitch for example was approx £3-3.5M.

[overdrive]

Unless the letters are in the post... This was approved on the 4th so I would expect something through today if we've been written to.

I did wonder this. The statement makes it sound like every shareholder was written to prior to the board agreeing to the deal. It doesn't actually say that, though. It is just the order of the sentence that makes it sound like that.

Letters could have been sent out after just informing shareholders of the outcome. Or sent before the board meeting second class saying that this is the intention. Of course, the other option is they haven't bothered to write at all and that wouldn't surprise me with the club at the moment.

Interesting that HSL didn't directly mention this to its membership either. Hibs will probably have told them not to but re-reading that update HSL sent out last week on the consultation, there does seem to be subtle hints that they were quickly going to be able to take up an option of buying more shares.

I think it is positive that communication between the club and HSL seems to be a bit better now.

[Jones28]

Yeah, think it is a move to give a little more wiggle room to get investment from them rather than donations.

It can’t be too significant. If you think of the funds HSL were sat on it wasn’t that much.

We did dis apply pre emption rights at the AGM, which ironically HSL voted against, so these additional shares could be offered in a directed way rather than to all of us. I assume HSL won’t make a fuss now they are on the receiving end…


Was it not close to £800,000?

[overdrive]

Yeah, think it is a move to give a little more wiggle room to get investment from them rather than donations.

It can’t be too significant. If you think of the funds HSL were sat on it wasn’t that much.

We did dis apply pre emption rights at the AGM, which ironically HSL voted against, so these additional shares could be offered in a directed way rather than to all of us. I assume HSL won’t make a fuss now they are on the receiving end…

They still did have wiggle room. SFA gave them permission to take a stake up to a baw hair away from 30%. They only took a 25% stake.

Something has to have changed in the 3 months since they bought their stake.

[Jones28]

That was my understanding. I can’t say for certain it’s an accurate figure but I heard the indoor pitch for example was approx £3-3.5M.

Yikes.

You'd have to imagine any club who wanted to build one would get some SFA funding if that's their criteria for "Elite" academy status.

[TrinityHFC]

The still did have wiggle room. SFA gave them permission to take a stake up to a baw hair away from 30%. They only took a 25% stake.

Something has to have changed in the 3 months since they bought their stake.

We did hear at the AGM there would be further capital calls as part of the plan.

[TrinityHFC]

Was it not close to £800,000?

Maybe, I had thought it was less than this they’d previously handed over in total so wouldn’t have thought that they’d have that lying around but possibly!

Edit: At the end of 2023 they had £200k plus in the bank.

[Lago]

Taking the statement at face value (and I have my doubts as to whether that's wise :greengrin), it does appear that the BK investment has been diluted. That gives them wiggle-room to invest more, to get them back up to 25%, if they want.
So are you suggesting the original large investment from BK is not as large as anticipated?

[jeffers]

Yikes.

You'd have to imagine any club who wanted to build one would get some SFA funding if that's their criteria for "Elite" academy status.

It could be wrong mate, just the figure I was told, not like some of the other info I get that I’m confident is accurate. But I’ll stand by the statement that Monty was told not to expect any of the BK money, that came from someone who spoke to him.

[04Sauzee]

Hsl statement

https://hiberniansupporters.co.uk/investment-in-hibernian-fc/

[Forza Fred]

We did hear at the AGM there would be further capital calls as part of the plan.

Indeed.

That was my first thought when I saw the notice.

[TrinityHFC]

So are you suggesting the original large investment from BK is not as large as anticipated?

No, they have paid for those shares. When other shares are issued to other people their actual percentage goes down.

[CropleyWasGod]

Was it not close to £800,000?


Maybe, I had thought it was less than this they’d previously handed over in total so wouldn’t have thought that they’d have that lying around but possibly!

Edit: At the end of 2023 they had £200k plus in the bank.

The last accounts, to January 24, had £346k in the bank.

The £800k (actually £770k) is the shares already bought.

[matty_f]

We did hear at the AGM there would be further capital calls as part of the plan.

Yeah, these were mentioned at the AGM.

I don't think HSL's spend will tell us much about how much went in overall, it would only do that if the three parties put in an equal amount each and there's nothing to suggest that is (or isn't) the case.

[overdrive]

Maybe, I had thought it was less than this they’d previously handed over in total so wouldn’t have thought that they’d have that lying around but possibly!

Edit: At the end of 2023 they had £200k plus in the bank.

Yep the £800k (just short of) is the total fixed assets figure, which is presumably the investment in the club.

[TrinityHFC]

The last accounts, to January 24, had £346k in the bank.

The £800k (actually £770k) is the shares already bought.

Ideal, thanks, so a decent sum if they used that to purchase shares.

[Real Emerald]

No idea how much this is or for what purpose but it raises concerns on the back of SDG getting the job that we’re not getting told the truth. It’s all a bit cloak and dagger and a bit concerning. I just don’t trust them.

[Lago]

No, they have paid for those shares. When other shares are issued to other people their actual percentage goes down.
Thank you

[Chorley Hibee]

No idea how much this is or for what purpose but it raises concerns on the back of SDG getting the job that we’re not getting told the truth. It’s all a bit cloak and dagger and a bit concerning. I just don’t trust them.

I feel the same.

As I said, the next few weeks, and the subsequent signings (or lack of them), will paint a clearer picture.

[TrinityHFC]

No idea how much this is or for what purpose but it raises concerns on the back of SDG getting the job that we’re not getting told the truth. It’s all a bit cloak and dagger and a bit concerning. I just don’t trust them.

Think it is pretty sensible. You’ve got HSL sat with money in the bank they can’t use, Robb who is obviously keen to share his cash with us and the Gordon family happy to put even more money in.

It also provides more room for the Black Knights to invest more.

The reality is we had a bad season and if shareholders want to help cover that so we can carry on with our existing investment plans then that is positive.

[Real Emerald]

Think it is pretty sensible. You’ve got HSL sat with money in the bank they can’t use, Robb who is obviously keen to share his cash with us and the Gordon family happy to put even more money in.

It also provides more room for the Black Knights to invest more.

The reality is we had a bad season and if shareholders want to help cover that so we can carry on with our existing investment plans then that is positive.

Yes maybe is sensible but why, what are we needing it for? On the back of the management appointment it just raises concerns with me. I’ve no idea if my concerns are valid or not but something just doesn’t feel right. It also further raises concerns as to why SDG has been chosen. I may be putting 2 and 2 together and getting 5 but I smell 💩

[Brooster]

Didn't take the usual suspects long to put a negative spin on the fact that people are investing in the club.

[Real Emerald]

Didn't take the usual suspects long to put a negative spin on the fact that people are investing in the club.

You have to admit it’s a very vague statement with absolutely no further explanations or amounts. Maybe a bit of communication from the club would help.

[TrinityHFC]

Yes maybe is sensible but why, what are we needing it for? On the back of the management appointment it just raises concerns with me. I’ve no idea if my concerns are valid or not but something just doesn’t feel right. It also further raises concerns as to why SDG has been chosen. I may be putting 2 and 2 together and getting 5 but I smell 💩

Not sure we need it as such but we will have missed out on a lot of money by being rubbish last year. If that is covered now to some extent we can move on with the plans for the existing investment.

I’m sure they could give us a bit more detail but I don’t see getting more money as a bad thing.

[Forza Fred]

Didn't take the usual suspects long to put a negative spin on the fact that people are investing in the club.

Aye.

I’m just delighted things are actually happening.

It’s like we’ve been hiding under a blanket for a couple of weeks…..new manager, additional investment……won’t hear me complaining.

Guess some haven’t yet had a drink of yon Irn BRU that is supposed to provide optimism😂

[Onceinawhile]

You have to admit it’s a very vague statement with absolutely no further explanations or amounts. Maybe a bit of communication from the club would help.

Is it not a club communication we're discussing? Like it or not, we are customers and do not have the right to all the ins and outs of a companies financial details.

[Real Emerald]

Not sure we need it as such but we will have missed out on a lot of money by being rubbish last year. If that is covered now to some extent we can move on with the plans for the existing investment.

I’m sure they could give us a bit more detail but I don’t see getting more money as a bad thing.

Getting more money is a fantastic thing.

[Pedantic_Hibee]

Didn't take the usual suspects long to put a negative spin on the fact that people are investing in the club.

100%, S. There’s no conceivable way that this can be spun as a bad thing. Additional investment…what’s not to like?

[Real Emerald]

Is it not a club communication we're discussing? Like it or not, we are customers and do not have the right to all the ins and outs of a companies financial details.

Fine then, we shouldn’t discuss it, wonder how much is coming in or need to know why all of a sudden we’re doing this. Close the thread.

[04Sauzee]

Didn't take the usual suspects long to put a negative spin on the fact that people are investing in the club.

I can't see the bad in this at all. If HSL have pumped in some money they must be happy and they aren't easy to please 🤪🙂

[Chipper1875]

Think it is pretty sensible. You’ve got HSL sat with money in the bank they can’t use, Robb who is obviously keen to share his cash with us and the Gordon family happy to put even more money in.

It also provides more room for the Black Knights to invest more.

The reality is we had a bad season and if shareholders want to help cover that so we can carry on with our existing investment plans then that is positive.

great news re HSL. Was the suggestion they were a dead duck?

showing their value by holding cash and meeting the capital call.

[hibbie02]

Think it is pretty sensible. You’ve got HSL sat with money in the bank they can’t use, Robb who is obviously keen to share his cash with us and the Gordon family happy to put even more money in.

It also provides more room for the Black Knights to invest more.

The reality is we had a bad season and if shareholders want to help cover that so we can carry on with our existing investment plans then that is positive.

Very pleased to see that HSL stuck by their guns and held on the the money until they could buy more shares. Hopefully it will shut up the usual suspects slagging them off. They collected donations, waited and, just as they said they would, they bought more shares. Some people need to have a word with themselves when they try and doom efforts to help the Club.

[chippy]

Unless the letters are in the post... This was approved on the 4th so I would expect something through today if we've been written to.

Whats the problem folks - it’s money into the club from existing shareholders?

[chippy]

Very pleased to see that HSL stuck by their guns and held on the the money until they could buy more shares. Hopefully it will shut up the usual suspects slagging them off. They collected donations, waited and, just as they said they would, they bought more shares. Some people need to have a word with themselves when they try and doom efforts to help the Club.

Good post

[TrinityHFC]

Very pleased to see that HSL stuck by their guns and held on the the money until they could buy more shares. Hopefully it will shut up the usual suspects slagging them off. They collected donations, waited and, just as they said they would, they bought more shares. Some people need to have a word with themselves when they try and doom efforts to help the Club.

It is a sensible use of the money they had and whilst I still disagree that there is much value in them being some sort of collective for the small percentage they have this is definitely a good move for where we are.

[NC1875]

They could easily have pushed the FF plans back another year if they were that concerned surely?

The job would have been out to tender and then contracts signed months ago. They couldn’t just push it back a year after realising we wouldn’t make top 6 and have to sack another manager.

We’ll find out soon enough whether Ben Kensell was telling the truth about next years numbers looking far better. If they don’t, he really has questions to answer.

[JimBHibees]

That was my understanding. I can’t say for certain it’s an accurate figure but I heard the indoor pitch for example was approx £3-3.5M.

Seems a bit high i suppose but surely could be paid up though personally think that would be a huge asset to the club especially in quite an exposed location as htc.

[Hibbyradge]

No they didn't.

They certainly wrote to me and I scanned and returned my Proxy by email on 25 February.

At least, that's what I thought they were referring to.

[Greenworld]

Even the good things are bad at Hibs [emoji23]
Initially I thought this was just confirming the black K investment but to get a further injection of cash is brilliant news for the club.


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[nonshinyfinish]

They certainly wrote to me and I scanned and returned my Proxy by email on 25 February.

At least, that's what I thought they were referring to.

You're talking about the AGM.

The recent update from Hibs implies that they wrote to all shareholders about this new round of investment. It's kind of irrelevant as they didn't need permission, but it's odd to say that you wrote to people if you didn't.

The other possibilities I can see are:

- As Matty suggested, the letters are in the post just now as a courtesy only
- The recent update actually means "we wrote to all shareholders months ago about the special resolution vote at the AGM, and at the AGM obtained the necessary level of approval to suspend pre exemption rights, allowing us do a limited new share issue then and in the future"

Either way extra investment is great, it's just a bit annoying it's been clouded by confusing comms.

[overdrive]

They certainly wrote to me and I scanned and returned my Proxy by email on 25 February.

At least, that's what I thought they were referring to.

That was the original BK share issue and Bydand debt to equity swap.

This is something new - HSL and Robb had their shareholding diluted then, not increased.

[Chipper1875]

The job would have been out to tender and then contracts signed months ago. They couldn’t just push it back a year after realising we wouldn’t make top 6 and have to sack another manager.

We’ll find out soon enough whether Ben Kensell was telling the truth about next years numbers looking far better. If they don’t, he really has questions to answer.

Year end I think is end of June

[Hibbyradge]

You're talking about the AGM.

The recent update from Hibs implies that they wrote to all shareholders about this new round of investment. It's kind of irrelevant as they didn't need permission, but it's odd to say that you wrote to people if you didn't.

The other possibilities I can see are:

- As Matty suggested, the letters are in the post just now as a courtesy only
- The recent update actually means "we wrote to all shareholders months ago about the special resolution vote at the AGM, and at the AGM obtained the necessary level of approval to suspend pre exemption rights, allowing us do a limited new share issue then and in the future"

Either way extra investment is great, it's just a bit annoying it's been clouded by confusing comms.

I can't imagine Hibs would deliberately lie about it. What would be the point of that? It's not like there's any doubt if no-one has received a letter/email.

[nonshinyfinish]

I can't imagine Hibs would deliberately lie about it. What would be the point of that? It's not like there's any doubt if no-one has received a letter/email.I agree, there's nothing to gain from it, so I think it's either an oversight, poorly worded or mistimed (if the letters are on their way).

[Jones28]

The job would have been out to tender and then contracts signed months ago. They couldn’t just push it back a year after realising we wouldn’t make top 6 and have to sack another manager.

We’ll find out soon enough whether Ben Kensell was telling the truth about next years numbers looking far better. If they don’t, he really has questions to answer.

Needs must, they'd have had to give the contractor something for cancelling the job but couldn't they have settled a deal to push it back?

I'm ignorant of these things - as you can see :wink:

[Jones28]

Maybe, I had thought it was less than this they’d previously handed over in total so wouldn’t have thought that they’d have that lying around but possibly!

Edit: At the end of 2023 they had £200k plus in the bank.


The last accounts, to January 24, had £346k in the bank.

The £800k (actually £770k) is the shares already bought.


Yep the £800k (just short of) is the total fixed assets figure, which is presumably the investment in the club.


:aok: thanks for clearing that all up folks.

[matty_f]

Whats the problem folks - it’s money into the club from existing shareholders?

No problem here, it's a good thing imho.

[Leithenhibby]

Think it is pretty sensible. You’ve got HSL sat with money in the bank they can’t use, Robb who is obviously keen to share his cash with us and the Gordon family happy to put even more money in.

It also provides more room for the Black Knights to invest more.

The reality is we had a bad season and if shareholders want to help cover that so we can carry on with our existing investment plans then that is positive.

Yes, they can...:wink:

[greenlex]

Did the statement say all shareholders? Might just be the ones that really matter for this sort of thing.

[Pretty Boy]

Did the statement say all shareholders? Might just be the ones that really matter for this sort of thing.

The ones who 'really matter' are all involved in the deal so would seem a bit pointless to mention it at all if that was the case.

[nonshinyfinish]

Did the statement say all shareholders? Might just be the ones that really matter for this sort of thing.

Yes: https://www.hibernianfc.co.uk/news/2024/june/06/shareholder-update--equity-investment/

[cabbageandribs1875]

great news re HSL. Was the suggestion they were a dead duck?

showing their value by holding cash and meeting the capital call.


i've had a feeling for a while now that one day we will all be thankful HSL was/is still around, of course those that spewed vitriol at them a while back will also be grateful i'm sure :)


just a little niggly feeling i have




and no i'm not going to the doctor about it :)

[CropleyWasGod]

Yeah, these were mentioned at the AGM.

I don't think HSL's spend will tell us much about how much went in overall, it would only do that if the three parties put in an equal amount each and there's nothing to suggest that is (or isn't) the case.

Once it's registered at Companies House, we can make a decent stab at it

[CropleyWasGod]

I can't imagine Hibs would deliberately lie about it. What would be the point of that? It's not like there's any doubt if no-one has received a letter/email.

I don't think anyone is suggesting they lied about it.

However, to say something that is obviously not true (he says, with one eye on the letter-box).... whatever the reason....... gives ammo to those who think the Club are not to be trusted on anything they say.

IMO, it's sloppy but not sinister.

[scoopyboy]

I don't think anyone is suggesting they lied about it.

However, to say something that is obviously not true (he says, with one eye on the letter-box).... whatever the reason....... gives ammo to those who think the Club are not to be trusted on anything they say.

IMO, it's sloppy but not sinister.

I don't have the proposals now that were voted on at the AGM so I'm sort of guessing.

I thought maybe one of the things we were asked to vote on was to give the board permission to carry out a share issue.

IIRC all resolutions were passed at the AGM.

[MelbourneHibees]

i've had a feeling for a while now that one day we will all be thankful HSL was/is still around, of course those that spewed vitriol at them a while back will also be grateful i'm sure :)


just a little niggly feeling i have




and no i'm not going to the doctor about it :)
Thanks to the voting threshold change that came about when the BKG investment got the Greenlight HSL's influence as a shareholder is now irrelevant.

They are of course a good place for fans to put their money indirectly into Hibs still. But they can't block any future sale of the club.

[CropleyWasGod]

I don't have the proposals now that were voted on at the AGM so I'm sort of guessing.

I thought maybe one of the things we were asked to vote on was to give the board permission to carry out a share issue.

IIRC all resolutions were passed at the AGM.

No problem with any of that. I think we'd struggle to find any shareholder who would be against the issue. We're lucky to have people with the will and means to do it.

But just get the ****ing comms right. :cb

[Hibernian Verse]

Peak Hibs.net.

Additional funding secured for the club but the thread is full of posts about poor comms.

[TrinityHFC]

Thanks to the voting threshold change that came about when the BKG investment got the Greenlight HSL's influence as a shareholder is now irrelevant.

They are of course a good place for fans to put their money indirectly into Hibs still. But they can't block any future sale of the club.

This is the point and suggestions of ‘vitriol’ is nonsense.

As an entity who only want to buy shares in Hibs to have more influence or block stuff it is irrelevant. That is dead in the water.

If it was reimagined again to provide ongoing funds to Hibs through share purchases I’m sure Hibs would welcome it as it would help, if current shareholders agreed, to provide some capacity for the BKs to increase their investment without breaching SFA limits.

However, HSL can’t have much cash left now if any abc not sure what the current level of new money is. As it stands their ongoing input would be a drop in the ocean.

[greenlex]

Yes: https://www.hibernianfc.co.uk/news/2024/june/06/shareholder-update--equity-investment/

All shareholders mentioned previously?

[ben johnson]

Did the statement say all shareholders? Might just be the ones that really matter for this sort of thing.

Unless the articles or shareholders' agreement contains provisions to the contrary, companies can disapply pre-emption rights in certain situations by passing a board resolution or a special resolution of the shareholders at a general meeting – this requires 75% approval from shareholders who are entitled to vote

I was talking to someone who knows what he is talking about and seemingly the above action was voted on and now in the articles.

[MelbourneHibees]

Unless the articles or shareholders' agreement contains provisions to the contrary, companies can disapply pre-emption rights in certain situations by passing a board resolution or a special resolution of the shareholders at a general meeting – this requires 75% approval from shareholders who are entitled to vote

I was talking to someone who knows what he is talking about and seemingly the above action was voted on and now in the articles.

Correct. Basically now the BKG and Gordon family can authorise the sale of Hibs if they want, this wasn't the case before the last AGM.

[TrinityHFC]

Correct. Basically now the BKG and Gordon family can authorise the sale of Hibs if they want, this wasn't the case before the last AGM.

That is mixing up different things.

The pre-emption rights have been disapplied until the next AGM. That means new issues of shares do not have to be offered to all shareholders first.

At the AGM a significant number of new shares were issued and bought by the Gordons and the Black Knights. Together, yes, they now have over 75% so they can vote together to pass special resolutions.

The Gordon family as majority owners were always able to authorise the sale of their shares and therefore the majority ownership of Hibs.

Special resolutions are only required for a small number of things and is now academic anyway.

[CapitalGreen]

Correct. Basically now the BKG and Gordon family can authorise the sale of Hibs if they want, this wasn't the case before the last AGM.

The Gordon’s could have sold their ownership stake before the last AGM.

[MelbourneHibees]

The Gordon’s could have sold their ownership stake before the last AGM.

Correct, but not under the new ownership model with BKG, without changing the threshold.

[Greencore]

How much fosh we getting

[CropleyWasGod]

How much fosh we getting

We fon't know yet. Once the details are published at Companies House, we might be able to work it out.

[eastmainsmsh]

No idea how much this is or for what purpose but it raises concerns on the back of SDG getting the job that we’re not getting told the truth. It’s all a bit cloak and dagger and a bit concerning. I just don’t trust them.

Agree always comes out tho in end

[CropleyWasGod]

Correct, but not under the new ownership model with BKG, without changing the threshold.

Maybe I've jumped into the middle of a conversation here, so apologies if I have misunderstood you.

The Gordons can sell their stake at any time, no?

[HendoDelivered]

Extra 1M into budget is what I heard

[matty_f]

https://www.nhl.com/goldenknights/news/black-knight-football-club-names-tim-bezbatchenko-president

Thoughts on this?

[CapitalGreen]

Correct, but not under the new ownership model with BKG, without changing the threshold.

You’ve lost me, the Gordon’s still own a majority stake which they can sell without authorisation from BKs.

[Greenworld]

https://www.nhl.com/goldenknights/news/black-knight-football-club-names-tim-bezbatchenko-president

Thoughts on this?Another good move it's shows the level of seriousness being applied to the overall running of the group . This is no unplanned gimmicky group . I like what is going on and Hibs will benefit massively from the black Knights

Sent from my SM-S928B using Tapatalk

[Since452]

https://www.nhl.com/goldenknights/news/black-knight-football-club-names-tim-bezbatchenko-president

Thoughts on this?

Kensell better start upping the sunbed sessions

[ruthven_raiders]

https://www.nhl.com/goldenknights/news/black-knight-football-club-names-tim-bezbatchenko-president

Thoughts on this?

Certainly achived a lot of success in the MLS, so see how it translates across the BKG....

[BILLYHIBS]

It’s all good

The future’s bright the future’s green and white

Cannae wait for the new season

GGTTH


:flag:

[TrinityHFC]

Correct, but not under the new ownership model with BKG, without changing the threshold.

Nothing about that comment makes any sense!

[matty_f]

Letter from Hibs about it arrived this morning.

[matty_f]

Looks like £529,855.30 was invested

Bydand put in £433,255.30
HSL £39,000
Lesley Robb £57,600

[Groathillgrump]

Letter from Hibs about it arrived this morning.

Wow! You get post in the morning? :greengrin

I'll have to wait until around 2.30ish.

[CropleyWasGod]

Letter from Hibs about it arrived this morning.

Are you able to post it on here, Matty?

[overdrive]

My post has been and nothing.

Saying that, given the thing I did receive today was a gift voucher that I ordered for my wife’s birthday that was sent first class by the place a week and a half ago, I reckon I’ll receive it in a couple of weeks time.

[Paul1642]

Looks like £529,855.30 was invested

Bydand put in £433,255.30
HSL £39,000
Lesley Robb £57,600

That’s a bit less than I had expected but every little helps I suppose.

[overdrive]

Looks like £529,855.30 was invested

Bydand put in £433,255.30
HSL £39,000
Lesley Robb £57,600

Interesting that HSL bought an amount that keeps them at roughly the same percentage ownership of the club. Wonder if there’s a desire by the club to not increase HSL’s share of the club beyond the c.7%

[matty_f]

Are you able to post it on here, Matty?

I'll try, believe it or not despite being an admin on here for years, I don't know how to post pictures - sure I've done it in the past so it can't be that hard.

[matty_f]

Interesting that HSL bought an amount that keeps them at roughly the same percentage ownership of the club. Wonder if there’s a desire by the club to not increase HSL’s share of the club beyond the c.7%

I thought that as well, it's a very specific amount of cash to put in, and I'm certain HSL could have paid more in (and I'm sure they would have).

[.Sean.]

Looks like £529,855.30 was invested

Bydand put in £433,255.30
HSL £39,000
Lesley Robb £57,600
Thought it had been reported as a million?

[matty_f]

Thought it had been reported as a million?

I'll share the letter.

[matty_f]

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document or the action you should take you are recommended to seek advice from your solicitor, accountant, stockbroker, bank manager or other independent financial adviser authorised under the Financial Services and Markets Act 2000 who specialises in advising in connection with shares and other securities.
If you have sold or otherwise transferred all of your shares in The Hibernian Football Club Limited please send this document to the purchaser or transferee or to the stockbroker, bank, or other agent through whom the sale or transfer was effected, for transmission to the purchaser or transferee or to the person who arranged the sale or transfer so they can pass this document to the person who now holds the shares. If you have sold or transferred part only of your holding in shares in The Hibernian Football Club Limited you should retain this document and consult the stockbroker, bank or other agent through whom the sale or transfer was effected.

THE HIBERNIAN FOOTBALL CLUB LIMITED
(incorporated in Scotland under the Companies Acts with registered number SC005323)
Dear shareholder
We are pleased to report that the Company has successfully negotiated a new investment into the share capital of the Company by the majority shareholder, Bydand Sports, LLC, Hibernian Supporters Limited and William Leslie Robb (the Investment), with the approval of the Black Knight Football Group, subject to approval of the shareholders.
Please find enclosed certain written resolution of the members of the Company (the Resolutions) requesting the authority of the shareholders for the Club to conduct certain matters in connection with the proposed Investment.
The following notes explain the purpose and effect of the Resolutions.
Ordinary Resolution
Resolution 1 - To authorise the Directors to allot Ordinary Shares
The purpose of this resolution is to give the Directors power to allot shares. The authority, if passed, would provide the Directors with a general authority to allot new shares and grant rights to subscribe for, or convert other securities into, shares up to a nominal value of £529,855.30.

[matty_f]

The Directors intend to exercise this authority sought pursuant to this resolution to facilitate an investment by Bydand Sports, LLC for 21,662,765 ordinary shares, Hibernian Supporters Limited for 1,950,000 ordinary shares and William Leslie Robb for 2,880,000 ordinary shares, in the capital of the Company.
To the extent this resolution is not passed, the Investment shall not proceed.
Special Resolution
Resolution 2 - To authorise the Directors to disapply pre-emption rights
Section 561(1) of the Companies Act 2006 provides that if the Directors wish to allot any equity securities or sell any treasury shares (if it holds any), for cash, the Company must first offer them to existing shareholders in proportion to their existing shareholdings.
The purpose of this resolution is to seek power for the Directors to allot equity securities pursuant to resolution 1 above as if Section 561(1) of the Companies Act 2006 did not apply. The power conferred by this resolution will expire on the date of expiration of resolution 1 unless otherwise revoked or varied by the Company.
To the extent this resolution is not passed, the Investment shall not proceed.

[matty_f]

There's a bit more but it's just t's and C's.

[CropleyWasGod]

Thanks for posting this, Matty.

My initial thoughts (to be supported or torn apart by other posters, as appropriate):-

The numbers in that letter are the nominal values of the shares, ie their basic "book value" or the value that was put on them at the very outset. Ours have a nominal value of 2p.

That isn't necessarily the actual price of the shares, though. Our recent share issue valued the shares at a much higher price (someone else will remind me of what that was).

It's not clear from the letter what that price was. If it's, say 6p, then the total injection is over £1.5m. If it's 4p (which I think is quite low), that's closer to the £1m being thrown about.

HSL might be able to help by telling us how much they paid for their shares. (I appreciate that might be confidential).

If not, I think we might be able to guess, once the Companies House filings have been published.

[CapitalGreen]

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document or the action you should take you are recommended to seek advice from your solicitor, accountant, stockbroker, bank manager or other independent financial adviser authorised under the Financial Services and Markets Act 2000 who specialises in advising in connection with shares and other securities.
If you have sold or otherwise transferred all of your shares in The Hibernian Football Club Limited please send this document to the purchaser or transferee or to the stockbroker, bank, or other agent through whom the sale or transfer was effected, for transmission to the purchaser or transferee or to the person who arranged the sale or transfer so they can pass this document to the person who now holds the shares. If you have sold or transferred part only of your holding in shares in The Hibernian Football Club Limited you should retain this document and consult the stockbroker, bank or other agent through whom the sale or transfer was effected.

THE HIBERNIAN FOOTBALL CLUB LIMITED
(incorporated in Scotland under the Companies Acts with registered number SC005323)
Dear shareholder
We are pleased to report that the Company has successfully negotiated a new investment into the share capital of the Company by the majority shareholder, Bydand Sports, LLC, Hibernian Supporters Limited and William Leslie Robb (the Investment), with the approval of the Black Knight Football Group, subject to approval of the shareholders.
Please find enclosed certain written resolution of the members of the Company (the Resolutions) requesting the authority of the shareholders for the Club to conduct certain matters in connection with the proposed Investment.
The following notes explain the purpose and effect of the Resolutions.
Ordinary Resolution
Resolution 1 - To authorise the Directors to allot Ordinary Shares
The purpose of this resolution is to give the Directors power to allot shares. The authority, if passed, would provide the Directors with a general authority to allot new shares and grant rights to subscribe for, or convert other securities into, shares up to a nominal value of £529,855.30.

The nominal value of the shares issued isn’t necessarily the same as the amount they are sold for. Hibernian shares are issued with a nominal value of 2p but sold for more. The share issue in March the shares were sold in 2 tranches - one of 6.7p and one of 8.5p.

[CapitalGreen]

The nominal value of the shares issued isn’t necessarily the same as the amount they are sold for. Hibernian shares are issued with a nominal value of 2p but sold for more. The share issue in March the shares were sold in 2 tranches - one of 6.7p and one of 8.5p.

Splitting the difference in prices paid previously and applying a 7.6p price on the new shares would equal just under £1.8m invested…I think.

[Ringothedog]

The nominal value of the shares issued isn’t necessarily the same as the amount they are sold for. Hibernian shares are issued with a nominal value of 2p but sold for more. The share issue in March the shares were sold in 2 tranches - one of 6.7p and one of 8.5p.

I would think that the Black Knights would only be happy with the share issue if the price paid matched what they paid.

[CropleyWasGod]

The nominal value of the shares issued isn’t necessarily the same as the amount they are sold for. Hibernian shares are issued with a nominal value of 2p but sold for more. The share issue in March the shares were sold in 2 tranches - one of 6.7p and one of 8.5p.

Either of those numbers would be fab :greengrin

£1.7m-£2.25m

[CallumLaidlaw]

Either of those numbers would be fab :greengrin

£1.7m-£2.25m

Matches the supposed shortfall of finishing bottom 6…….


Sent from my iPhone using Tapatalk

[matty_f]

The nominal value of the shares issued isn’t necessarily the same as the amount they are sold for. Hibernian shares are issued with a nominal value of 2p but sold for more. The share issue in March the shares were sold in 2 tranches - one of 6.7p and one of 8.5p.

Nice one, thanks for clarifying to both you and CWG.

[Pagan Hibernia]

So the club is awash with cash and SDG will hopefully be furnished with a handsome budget for one of the most important summers for years. Bring it on.

[.Sean.]

So the club is awash with cash and SDG will hopefully be furnished with a handsome budget for one of the most important summers for years. Bring it on.
Can someone explain for those of us without a clue how the the club finances work how we are awash with cash?

[Gordy M]

Matches the supposed shortfall of finishing bottom 6…….


Sent from my iPhone using Tapatalk

Is that true? A 2 million difference for finishing bottom 6? Or is that in relation to not qualifying for Europe?

[Pagan Hibernia]

Can someone explain for those of us without a clue how the the club finances work how we are awash with cash?

We're probably not. I was being flippant.

My understanding of club finances is basic to say the least.

[overdrive]

Is that true? A 2 million difference for finishing bottom 6? Or is that in relation to not qualifying for Europe?

£360k ish difference in prize money between our 22/23 and 23/24 league positions
£300k ish if we didn't qualify for Europe (based on us getting punted out of the ECL at the round we entered last year)
No final home derby (extra gate, potential PPV income)
No final home game vs whichever of the Infirm we were due to play (extra gate)
No home gate in Europe

[CapitalGreen]

£360k ish difference in prize money between our 22/23 and 23/24 league positions
£300k ish if we didn't qualify for Europe (based on us getting punted out of the ECL at the round we entered last year)
No final home derby (extra gate, potential PPV income)
No final home game vs whichever of the Infirm we were due to play (extra gate)
No home gate in Europe

+ Monty et al payoff

[A Hi-Bee]

Don't know if I like the fact that our club is getting even more money, imagine if they manage to put a decent team on the pitch, what will the undercover ones have to moan or criticise about.
:thumbsup:

[Paul1642]

https://www.bbc.co.uk/sport/football/articles/cl774z082z9o

No figures but William Hill sponsoring the leagues in a “record breaking deal”.

Won’t be drastic but more money coming into the club.

[PHeffernan]

https://www.bbc.co.uk/sport/football/articles/cl774z082z9o

No figures but William Hill sponsoring the leagues in a “record breaking deal”.

Won’t be drastic but more money coming into the club.

A deliberately meaningless phrase.
The joy of releasing prepared statements to the media. No need to answer even the most obvious questions.

Good that there is a sponsor taking over from Cinch

[Jack]

https://www.bbc.co.uk/sport/football/articles/cl774z082z9o

No figures but William Hill sponsoring the leagues in a “record breaking deal”.

Won’t be drastic but more money coming into the club.

Do sevco run any bookies?

[Eyrie]

Do sevco run any bookies?

I've surprised they haven't objected to William Hill on the rounds that their own main sponsor is an online bookie.

[1875godsgift]

I've surprised they haven't objected to William Hill on the rounds that their own main sponsor is an online bookie.

I would imagine the name 'William' is enough to appease them.

[GloryGlory]

Got my letter to shareholders today.

I'm guessing that because I don't have to return the consent form that the directors already have enough votes tied up to pass the resolution - Gordon family, Robb, BK and HSL.

[PathheadHibby]

Yeah I got mine today also and given there’s no prepaid envelope or instructions to send to or even email signed copy, unless I’m missing something then it’s already done 🇳🇬

[Keith_M]

Am I the only one that thinks getting some extra investment is actually good news?


:dunno:

[matty_f]

Am I the only one that thinks getting some extra investment is actually good news?


:dunno:

No, several of us have said it already.

[GloryGlory]

Am I the only one that thinks getting some extra investment is actually good news?


:dunno:

I'm happy, too.

[JimBHibees]

I would imagine the name 'William' is enough to appease them.

:faf:

[DarlingtonHibee]

I would imagine the name 'William' is enough to appease them.

Beat me to it!!

[Keith_M]

No, several of us have said it already.


I know, it was a slight exaggeration Matty, but I was honestly surprised at the amount of negative comments around this.

[matty_f]

I know, it was a slight exaggeration Matty, but I was honestly surprised at the amount of negative comments around this.

There are folk that have been negative about money coming into the club since Ron Gordon bought it.

[Donegal Hibby]

Am I the only one that thinks getting some extra investment is actually good news?


:dunno:

I'm sure there will be some that thinks having a gambling company as a sponsor is wrong though the extra investment for clubs is good news .

[Jack]

There are folk that have been negative about money coming into the club since Ron Gordon bought it.

I'm not sure the reason folk are negative is about the money coming in since the Gordons came in but the players they've spent it on.

[JohnM1875]

There are folk that have been negative about money coming into the club since Ron Gordon bought it.

I just think it's a trust thing, especially when it comes to football. Then especially especially when it comes to Scottish football.

Obviously hope more than anything that the BKFC investment is the real deal. But now pretty much half of the league has some sort of American money.

[Lago]

I know, it was a slight exaggeration Matty, but I was honestly surprised at the amount of negative comments around this.
Negative Norman's :greengrin

[matty_f]

I'm not sure the reason folk are negative is about the money coming in since the Gordons came in but the players they've spent it on.

They must have known the players would be **** before we started signing anyone then. 👀

[Is It On....]

Am I the only one that thinks getting some extra investment is actually good news?


:dunno:

It's only £500k. I thought of it more as a working capital boost over the next few months.

[CapitalGreen]

It's only £500k. I thought of it more as a working capital boost over the next few months.

Where have you seen it confirmed how much it is?

The amount is likely to be well in excess of £1m based on the valuation of the club in February.

[matty_f]

It's only £500k. I thought of it more as a working capital boost over the next few months.

I think it's more than that, the nominal value of the shares puts it around that figure but as others have pointed out, it's likely that they sold for Howard's if double that amount.

[Glory Lurker]

I'm sure there will be some that thinks having a gambling company as a sponsor is wrong though the extra investment for clubs is good news .

Is it all about getting some money? Is that all that matters?

[chippy]

Where have you seen it confirmed how much it is?

The amount is likely to be well in excess of £1m based on the valuation of the club in February.

David Low in tweet today had the new investment at £2 million. He is a guy with a lot of financial knowledge.

[micksoo]

Looks like the new investment is £2,262,472 if I am reading the new file on companies house right. 26,492,765 shares at £0.0854 per share

[CapitalGreen]

Looks like the new investment is £2,262,472 if I am reading the new file on companies house right. 26,492,765 shares at £0.0854 per share

That would make sense as it aligns with the highest share price paid back in Feb/March.

[Since452]

Looks like the new investment is £2,262,472 if I am reading the new file on companies house right. 26,492,765 shares at £0.0854 per share

That's a decent boost. Makes up some of the shortfall from a very poor season and no Europe.

[CapitalGreen]

Looks like the new investment is £2,262,472 if I am reading the new file on companies house right. 26,492,765 shares at £0.0854 per share

Looking more at the figures makes me think it was anticipated that BKs would also participate in the funding to make to total invested up to £3m. The difference between £3m and the amount invested is equal to what BKs would have had to invest to maintain their shareholding %.

£3m - £2.26m = £0.74m
£0.74m / £3m = ~24.5% which is equal to BKs share before this latest issue.

[micksoo]

Looking more at the figures makes me think it was anticipated that BKs would also participate in the funding to make to total invested up to £3m. The difference between £3m and the amount invested is equal to what BKs would have had to invest to maintain their shareholding %.

£3m - £2.26m = £0.74m
£0.74m / £3m = ~24.5% which is equal to BKs share before this latest issue.

The file on companies house states the number of new shares and the amount paid which comes to £2.26m but doesn’t say who purchased them. For £3m to have been invested there would have been more shares issued at that price. I am not an expert though.

[ruthven_raiders]

Looking more at the figures makes me think it was anticipated that BKs would also participate in the funding to make to total invested up to £3m. The difference between £3m and the amount invested is equal to what BKs would have had to invest to maintain their shareholding %.

£3m - £2.26m = £0.74m
£0.74m / £3m = ~24.5% which is equal to BKs share before this latest issue.

So this £3m is on top of £6m invested when they bought ino Hibs? Sorry for not totally understanding what's been going on lol

[CapitalGreen]

The file on companies house states the number of new shares and the amount paid which comes to £2.26m but doesn’t say who purchased them. For £3m to have been invested there would have been more shares issued at that price. I am not an expert though.

Sorry if I’ve caused confusion.

The new shares have been purchased by Bydand Sports (the Gordon’s), HSL and Leslie Robb. Black Knights didn’t participate in the share offering.

Had Black Knights participated and maintained their shareholding %, the total amount invested would have been a round £3m figure. As it happens we have this random £2.26m figure which leads me to think it was anticipated that BKs would also have participated but ultimately didn’t.

[CapitalGreen]

So this £3m is on top of £6m invested when they bought ino Hibs? Sorry for not totally understanding what's been going on lol

See my previous post above. There is no £3m figure, BKs haven’t invested any extra above what they invested earlier in the year. This latest investment is from The Gordon’s, HSL and Leslie Robb only.

[CropleyWasGod]

The file on companies house states the number of new shares and the amount paid which comes to £2.26m but doesn’t say who purchased them. For £3m to have been invested there would have been more shares issued at that price. I am not an expert though.

The next filing, due in about 10 days, will tell you that. However, the resolution sent to shareholders had it:-

Bydand 21,662,765 shares (£1.85m)
HSL 1,950,000 (£166,530)
Leslie Robb 2,880,000 (£245,992)

(The values are mine)

[micksoo]

The next filing, due in about 10 days, will tell you that. However, the resolution sent to shareholders had it:-

Bydand 21,662,765 shares (£1.85m)
HSL 1,950,000 (£166,530)
Leslie Robb 2,880,000 (£245,992)

(The values are mine)

That makes sense. The fact that BKs shareholding has been diluted means that they can invest more without exceeding the limits agreed.

[TrinityHFC]

Sorry if I’ve caused confusion.

The new shares have been purchased by Bydand Sports (the Gordon’s), HSL and Leslie Robb. Black Knights didn’t participate in the share offering.

Had Black Knights participated and maintained their shareholding %, the total amount invested would have been a round £3m figure. As it happens we have this random £2.26m figure which leads me to think it was anticipated that BKs would also have participated but ultimately didn’t.

I think it’s more that’s the % left of shareholders that weren’t involved rather than them ever having to invested again at this stage.

More likely the amount was dictated by what HSL had available and the rest have gone from there.

[CapitalGreen]

I think it’s more that’s the % left of shareholders that weren’t involved rather than them ever having to invested again at this stage.

More likely the amount was dictated by what HSL had available and the rest have gone from there.

HSL invested ~£166k of the ~£345k they had in cash as per their last accounts. The sole purpose of HSL is to use that cash to purchase shares so it stands to reason they would purchase as many as they could and would have purchased more if they were allowed.

My theory is that it was a proposed £3m investment by the 4 major shareholders but BKs didn’t take part which resulted in the random £2.26m amount. If the proposed intention wasn’t for the major shareholders to retain their %’s then why choose those specific amounts?

[Sergio sledge]

The injection of cash is obviously very welcome after the season we just had, but the biggest thing to have come out of this for me is that the club are actively engaging with HSL again and, hopefully, mending some of the bridges that were burnt since the Gordons came in. Even if it is just to maintain the current % shareholding, it is good that HSL are being given the opportunity to invest and use some of the money they have been stockpiling to the benefit of the club.

[matty_f]

So this £3m is on top of £6m invested when they bought ino Hibs? Sorry for not totally understanding what's been going on lol

It's not quite the £3m but the money is over and above the £6m paid by Black Knight FC and the £5.5m debt to shares "write off" from Bydand (The Gordons).

[Ozyhibby]

https://x.com/jbluvsceltic/status/1801151965638103178?s=46&t=3pb_w_qndxJXScFNwz8V4A


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[CropleyWasGod]

https://x.com/jbluvsceltic/status/1801151965638103178?s=46&t=3pb_w_qndxJXScFNwz8V4A


Sent from my iPhone using Tapatalk

That's just repeating what was said on here yesterday.

Except that we're not getting £11.75m cash from the issue in February. It's £6m in cash, and £5.75m in debt write-off.

[Renfrew_Hibby]

That's just repeating what was said on here yesterday.

Except that we're not getting £11.75m cash from the issue in February. It's £6m in cash, and £5.75m in debt write-off.

So £6M + £2M from the other day = £8M.
£8M - let's say £4M for the indoor pitch and FF refurbishment.
That leaves about £4M to pay off the duds and replace with better quality.
Am I in the right ball park?

[ruthven_raiders]

So £6M + £2M from the other day = £8M.
£8M - let's say £4M for the indoor pitch and FF refurbishment.
That leaves about £4M to pay off the duds and replace with better quality.
Am I in the right ball park?

Think the indoor facility has been postponed for now as squad needs priority since it is in such a state, so sort that out first. Indoor facility will eventually come......

[JohnM1875]

So £6M + £2M from the other day = £8M.
£8M - let's say £4M for the indoor pitch and FF refurbishment.
That leaves about £4M to pay off the duds and replace with better quality.
Am I in the right ball park?

Suppose we’ll soon find out with the standard of signings that have to be incoming.

[ruthven_raiders]

Suppose we’ll soon find out with the standard of signings that have to be incoming.

Exactly this, quality will tell if we have a few million or less than one million as some are saying, so not sure what is going on with the finances or anything coming out of Hibs just now....why the likes of Ian Murray saying we don't have as much as some say.....🤔

[CropleyWasGod]

So £6M + £2M from the other day = £8M.
£8M - let's say £4M for the indoor pitch and FF refurbishment.
That leaves about £4M to pay off the duds and replace with better quality.
Am I in the right ball park?

No idea.

Ask Ian Murray, though :greengrin