Letter from Hibs regarding new share issue.

[NAE NOOKIE]

Received a letter from Hibs today advising that they intend to convert a £3,000,000 loan from Bydand LLC into shares, which as I understand it will be distributed between Bydand, Black Knights, HSL and Leslie Robb.

Before this can be done they need the agreement of the existing shareholders to pass a resolution that these shares can be issued and there's a form to sign and return ( no reply paid envelope I notice ) .... without consent the new shares cant be issued, which if the letter is anything to go by would leave Hibs having to pay that three million quid back.

I'm obviously thinking of signing the consent form and returning it. But before I do does anybody see a downside to this that I haven't considered? Apart from the fact that I'll have to pay for a stamp :greengrin

[Hibbyradge]

Received a letter from Hibs today advising that they intend to convert a £3,000,000 loan from Bydand LLC into shares, which as I understand it will be distributed between Bydand, Black Knights, HSL and Leslie Robb.

Before this can be done they need the agreement of the existing shareholders to pass a resolution that these shares can be issued and there's a form to sign and return ( no reply paid envelope I notice ) .... without consent the new shares cant be issued, which if the letter is anything to go by would leave Hibs having to pay that three million quid back.

I'm obviously thinking of signing the consent form and returning it. But before I do does anybody see a downside to this that I haven't considered? Apart from the fact that I'll have to pay for a stamp :greengrin

One downside is that I haven't received a letter.

[Bostonhibby]

On balance I'll probably sign it, can't see any darker forces at play here.

Nae letter though but it's pretty clear that the postie only delivers round here on a Thursday, 1st & 2nd class all arriving in same pile....

Sent from my SM-A750FN using Tapatalk

[scuttle]

Received a letter from Hibs today advising that they intend to convert a £3,000,000 loan from Bydand LLC into shares, which as I understand it will be distributed between Bydand, Black Knights, HSL and Leslie Robb.

Before this can be done they need the agreement of the existing shareholders to pass a resolution that these shares can be issued and there's a form to sign and return ( no reply paid envelope I notice ) .... without consent the new shares cant be issued, which if the letter is anything to go by would leave Hibs having to pay that three million quid back.

I'm obviously thinking of signing the consent form and returning it. But before I do does anybody see a downside to this that I haven't considered? Apart from the fact that I'll have to pay for a stamp :greengrin

Got one as well but there was no form to sign in mine

[bod]

Just dont put a stamp on it & let hibs pay the cost

[overdrive]

Received a letter from Hibs today advising that they intend to convert a £3,000,000 loan from Bydand LLC into shares, which as I understand it will be distributed between Bydand, Black Knights, HSL and Leslie Robb.

Before this can be done they need the agreement of the existing shareholders to pass a resolution that these shares can be issued and there's a form to sign and return ( no reply paid envelope I notice ) .... without consent the new shares cant be issued, which if the letter is anything to go by would leave Hibs having to pay that three million quid back.

I'm obviously thinking of signing the consent form and returning it. But before I do does anybody see a downside to this that I haven't considered? Apart from the fact that I'll have to pay for a stamp :greengrin

The obvious one is that it dilutes your shares. In practical terms, it probably means very little to the average shareholder. It does reduce the proportion of shares owned by ordinary friends but we had very little influence anyway.

[NAE NOOKIE]

Got one as well but there was no form to sign in mine

There should be 4 pages in total and it's on the back of one of them mate .... I had to search a bit before I found it as well :aok:

[Jack]

No letter for me either!

My thoughts are that it will make absolutely no difference what us very minor shareholders vote there's millions of votes already in the hands of the major shareholders for this to go through.

I wouldn't waste the money on a stamp!

[Jack]

Just dont put a stamp on it & let hibs pay the cost

If I was a hertz shareholder that's what I, as a Hibby, would do.

[NAE NOOKIE]

The obvious one is that it dilutes your shares. In practical terms, it probably means very little to the average shareholder. It does reduce the proportion of shares owned by ordinary friends but we had very little influence anyway.

I get that mate. I do find it quite amusing that shareholders in football clubs must be amongst the very few happy to see the value of their shares reduced by a new share issue if it will benefit the business.

Personally I'm raging that the value of my shares will now probably go from 00000000.1p per share to 0000000000.1p per share ..... I used to think I owned the value of a light bulb at ER, but if this goes through it'll probably wont even be a filling for the clicky pen :greengrin

[HoboHarry]

I get that mate. I do find it quite amusing that shareholders in football clubs must be amongst the very few happy to see the value of their shares reduced by a new share issue if it will benefit the business.

Personally I'm raging that the value of my shares will now probably go from 00000000.1p per share to 0000000000.1p per share ..... I used to think I owned the value of a light bulb at ER, but if this goes through it'll probably wont even be a filling for the clicky pen :greengrin
To be positive though, it might be the clicky pen used by the secretary who, as everyone knows, is the de facto ruler at any organisation....

[NAE NOOKIE]

No letter for me either!

My thoughts are that it will make absolutely no difference what us very minor shareholders vote there's millions of votes already in the hands of the major shareholders for this to go through.

I wouldn't waste the money on a stamp!

The one thing it didn't make clear in the letter was whether or not it was one person one vote, or if it was X number of votes depending on how many shares you owned.

99.99% sure it will be the latter and as you say it won't in reality matter a toss what the likes of me has to say on the matter :dummytit:

[scuttle]

There should be 4 pages in total and it's on the back of one of them mate .... I had to search a bit before I found it as well :aok:

Ok thanks will have another look

[NAE NOOKIE]

To be positive though, it might be the clicky pen used by the secretary who, as everyone knows, is the de facto ruler at any organisation....

:agree:

[Hibbyradge]

To be positive though, it might be the clicky pen used by the secretary who, as everyone knows, is the de facto ruler at any organisation....

It might be THE pen!

[HibbyDave]

Why no public sale?
I’m on holiday so no idea if I have a letter or not😀

[Eyrie]

Nothing in today's post, but won't bother voting by post for the simple reason that the four parties who will purchase the new shares will have enough votes between them to ensure the resolution is passed. I'd have voted in favour if I could do so online.

Good to see HSL fully involved though.

[Keith_M]

...
Personally I'm raging that the value of my shares will now probably go from 00000000.1p per share to 0000000000.1p per share .....


Uhm ,you can put as many zeros in front of that as you like but that's still the same amount, 0.1p.



I despair at the educational standards in the Borders...


:greengrin

[Hibbyradge]

Uhm ,you can put as many zeros in front of that as you like but that's still the same amount, 0.1p.



I despair at the educational standards in the Borders...


:greengrin

:tee hee:

[NAE NOOKIE]

Uhm ,you can put as many zeros in front of that as you like but that's still the same amount, 0.1p.



I despair at the educational standards in the Borders...


:greengrin

Bloody cheek having a go at my over use of zeros. Especially from someone who used 3 full stops at the end of a sentence when one would do :greengrin

[matty_f]

Received a letter from Hibs today advising that they intend to convert a £3,000,000 loan from Bydand LLC into shares, which as I understand it will be distributed between Bydand, Black Knights, HSL and Leslie Robb.

Before this can be done they need the agreement of the existing shareholders to pass a resolution that these shares can be issued and there's a form to sign and return ( no reply paid envelope I notice ) .... without consent the new shares cant be issued, which if the letter is anything to go by would leave Hibs having to pay that three million quid back.

I'm obviously thinking of signing the consent form and returning it. But before I do does anybody see a downside to this that I haven't considered? Apart from the fact that I'll have to pay for a stamp :greengrin

Is interesting that the shares are being spread across those groups if it’s to repay a loan from Bydand, who are essentially just the Gordon family.

[El Gubbz]

Is interesting that the shares are being spread across those groups if it’s to repay a loan from Bydand, who are essentially just the Gordon family.

I think Bydand are converting a loan into shares via share issue while additional shares are also being created and issued to the other parties in exchange for cash.

[Chuck Rhoades]

Wonder what the HSL view is given their substantial holding? The refreshed relationship between the Club and HSL may now look like convenient timing? Also the fact this lands quietly after a run of positive news. Cynical I know :D

[CentreLine]

Wonder what the HSL view is given their substantial holding? The refreshed relationship between the Club and HSL may now look like convenient timing? Also the fact this lands quietly after a run of positive news. Cynical I know :D

I’ve not received a letter yet but am seeing this as more positive news. I’d guess this is where the money will come from to cover the big signings we have made so far this window and probably more to come.

It also looks very positive for HSL. This will be the second opportunity for HSL to purchase shares since we thought the club would never allow it again.

Another clear indication, for me, that HSL is alive and kicking but it can’t purchase shares in our club without the valued contributions from its members and supporters that are lapse or not yet members. Within what I can afford, as a pensioner, I’ve just increased my payments and am glad to see HSL as part of this and continuing to deliver on its raison d’etre

[Iain G]

On balance I'll probably sign it, can't see any darker forces at play here.

Nae letter though but it's pretty clear that the postie only delivers round here on a Thursday, 1st & 2nd class all arriving in same pile....

Sent from my SM-A750FN using Tapatalk

I wouldn't make any signings before consulting with the Yamometer SuperComputor...

[CapitalGreen]

I’ve not received a letter yet but am seeing this as more positive news. I’d guess this is where the money will come from to cover the big signings we have made so far this window and probably more to come.

It also looks very positive for HSL. This will be the second opportunity for HSL to purchase shares since we thought the club would never allow it again.

Another clear indication, for me, that HSL is alive and kicking but it can’t purchase shares in our club without the valued contributions from its members and supporters that are lapse or not yet members. Within what I can afford, as a pensioner, I’ve just increased my payments and am glad to see HSL as part of this and continuing to deliver on its raison d’etre

Based on the OP, this isn’t a new share issue to inject cash it’s a debt for equity swap to clear the loan from Gordon’s as discussed at the AGM. HSL aren’t purchasing new shares, they are being allocated new shares.

[CentreLine]

Based on the OP, this isn’t a new share issue to inject cash it’s a debt for equity swap to clear the loan from Gordon’s as discussed at the AGM. HSL aren’t purchasing new shares, they are being allocated new shares.

Even better news. I’m glad you understand this stuff better than I do. HSL share proportion not shrinking sounds good to me.

[Bostonhibby]

I wouldn't make any signings before consulting with the Yamometer SuperComputor...Good thinking, last thing anyone would want is to innocently sign a form and end up blowing £50m and only have a weird looking hotel and a single tier main stand at the end of it.

Sent from my SM-A750FN using Tapatalk

[BILLYHIBS]

Based on the OP, this isn’t a new share issue to inject cash it’s a debt for equity swap to clear the loan from Gordon’s as discussed at the AGM. HSL aren’t purchasing new shares, they are being allocated new shares.

👍

Good news

[Chuck Rhoades]

Wonder what the HSL view is given their substantial holding? The refreshed relationship between the Club and HSL may now look like convenient timing? Also the fact this lands quietly after a run of positive news. Cynical I know :D

[lucky]

No downside to this for minor shareholders but the largest shareholders don't lose anything in percentage terms of their ownership
Also not received the letter

[CapitalGreen]

Wonder what the HSL view is given their substantial holding? The refreshed relationship between the Club and HSL may now look like convenient timing? Also the fact this lands quietly after a run of positive news. Cynical I know :D

IG said the loans would be cleared in the summer at the AGM.

[matty_f]

I think Bydand are converting a loan into shares via share issue while additional shares are also being created and issued to the other parties in exchange for cash.

So is there more than £3m being issued? Or is the £3m made up of £x of Bydand loan conversion and the remainder new investment from The other groups?

[ancient hibee]

If the original post is correct it looks as if the Gordon family are writing off a £3million loan but instead of taking all the new shares are distributing them so that the main shareholders percentage remains the same.No new money but another debt disappears.

[El Gubbz]

So is there more than £3m being issued? Or is the £3m made up of £x of Bydand loan conversion and the remainder new investment from The other groups?

The update is intentionally vague but Bydand getting c. 37m shares and there’s £3m of loans getting converted. Assuming Bydand aren’t sticking any additional cash in and the other c. 20m shares that are being created and issued to the other parties in exchange for cash at the same value it would suggest an extra £1.6m cash ploughed in plus the Loan being converted ie. Hibs balance sheet £4.6m healthier

Fag packet at best though

[matty_f]

The update is intentionally vague but Bydand getting c. 37m shares and there’s £3m of loans getting converted. Assuming Bydand aren’t sticking any additional cash in and the other c. 20m shares that are being created and issued to the other parties in exchange for cash at the same value it would suggest an extra £1.6m cash ploughed in plus the Loan being converted ie. Hibs balance sheet £4.6m healthier

Fag packet at best though

Thanks. Definitely good news though!