Share Transfers Agreed/Cooling off period

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29-11-2013, 09:51 AM
matty_f

Quote:

Originally Posted by Coco Bryce

They still have the second stage vote at the shareholders meeting at 12.00 - need 50% to vote in favour. :rolleyes:

Would expect that to be a formality.
29-11-2013, 09:52 AM
7062

From reading the BBC report anything agreed today would be conditional till UBIG's creditors meeting in Jan. Don't really know the details, but sounds like there's still a way to go.
29-11-2013, 09:53 AM
JeMeSouviens

Quote:

Originally Posted by SQHib

Quick question Bajillions - how does the final figure work - all creditors get a right to vote and their votes if you like are in proportion to their debt due. Does the 87% figure represent the ones who said yes out of the ones who did inded return a vote at all - so if in theory all creditors had abstained ( or not bothered to return a vote) like UBIG and only UKIo bothered returning a vote it would have been 100% ?

If you turn up and abstain, you count as a no.
If you don't turn up (and aren't represented), you don't count at all.

So 87% of the debt that either turned up or was represented voted in favour. Given UBIG's abstention, that probably means virtually everyone other than Ukio voted no.
29-11-2013, 09:54 AM
Thecat23

May I be the first to say I have no idea what the hell is going on. :confused:
29-11-2013, 09:56 AM
I'm_cabbaged

Quote:

Originally Posted by Thecat23

May I be the first to say I have no idea what the hell is going on. :confused:

Me too!! :)
29-11-2013, 09:57 AM
matty_f

Quote:

Originally Posted by 7062

From reading the BBC report anything agreed today would be conditional till UBIG's creditors meeting in Jan. Don't really know the details, but sounds like there's still a way to go.

As amusing as it has been watching them unravel, bake cakes, not attend glamour friendlies etc, I think everyone has kind of missed where the real fun is going to be had.
Getting the cva is as good as them not getting it would have been. Their business model is ridiculous, they're getting relegated and I wouldn't be at all surprised to see them back in administration within 18 months max.
29-11-2013, 09:57 AM
Just Alf

Quote:

Originally Posted by 7062

From reading the BBC report anything agreed today would be conditional till UBIG's creditors meeting in Jan. Don't really know the details, but sounds like there's still a way to go.

just realized it's conditional, that means it's not officially "signed off" so in turn that means the 30 day cooling off period can't commence yet?
29-11-2013, 09:59 AM
brog

Quote:

Originally Posted by JeMeSouviens

If you turn up and abstain, you count as a no.
If you don't turn up (and aren't represented), you don't count at all.

So 87% of the debt that either turned up or was represented voted in favour. Given UBIG's abstention, that probably means virtually everyone other than Ukio voted no.

The main bulk of the 13% would I assume be HMRC. They have £1.9m out of £27m = approx 8%. Apologies re your prior post, I read it that Valnetas was accepting half of PBS ( rather than the value ) & I thought I'd missed something earlier in this small thread!
29-11-2013, 10:00 AM
Gus Fring

Quote:

Originally Posted by Jim44

Speaking from ignorance perhaps, but aren't Ubig and Ukios essentially joined at the hip and unlikely to work against the interests of each other? I reckon things will run comparatively smoothly for the Jambos now. My only fear is that all concerned including the SPFL will try to fast-track them back to undeserved good health. Relegation and what that brings is our main weapon. A good trouncing from Celtic in the cup could set them up for a torrid time in the remaining league matches. I hope Killie get their act together and leave them high and dry.

The yams have been saying UKIO and UBIG were essentially one and the same. Today has proven they are not. UBIG abstained while UKIO voted.
29-11-2013, 10:00 AM
Ozyhibby

Quote:

Originally Posted by I'm_cabbaged

Me too!! :)

Sorry, you can't both be first.
29-11-2013, 10:01 AM
Crazyhorse

Quote:

Originally Posted by Thecat23

May I be the first to say I have no idea what the hell is going on. :confused:

You are in the silent-ish majority like me...
29-11-2013, 10:02 AM
Ozyhibby

Don't think the next vote needs to be 'in attendance' so an abstention would be a NO?
29-11-2013, 10:02 AM
The Falcon

Quote:

Originally Posted by brog

The main bulk of the 13% would I assume be HMRC. They have £1.9m out of £27m = approx 8%. Apologies re your prior post, I read it that Valnetas was accepting half of PBS ( rather than the value ) & I thought I'd missed something earlier in this small thread!

What about UBIG's £8.2m? I thought if they abstained its counted as a no?
29-11-2013, 10:03 AM
rcarter1

Quote:

Originally Posted by Thecat23

May I be the first to say I have no idea what the hell is going on. :confused:

I second that.. :greengrin
29-11-2013, 10:06 AM
Leithenhibby

Quote:

Originally Posted by carnoustiehibee

Could ubig agree and not demand a huge price for the shares?

I feel this is their (ubig) jewel in the crown. They may want a kings ransom for them...
29-11-2013, 10:08 AM
bathhibby

Quote:

Originally Posted by Sir Alf R

just realized it's conditional, that means it's not officially "signed off" so in turn that means the 30 day cooling off period can't commence yet?

It's conditional on them getting the UBIG shares which are subject to their liquidators who act on behalf if the Lithuanian Tax Payer. UBIG own the PBS - the only real asset so they won't give that up for sweeties - they'll get the max for the swindled Tax Payers
29-11-2013, 10:14 AM
Leithenhibby

Quote:

Originally Posted by bathhibby

It's conditional on them getting the UBIG shares which are subject to their liquidators who act on behalf if the Lithuanian Tax Payer. UBIG own the PBS - the only real asset so they won't give that up for sweeties - they'll get the max for the swindled Tax Payers

This please..... :wink:
29-11-2013, 10:15 AM
Golden Bear

Quote:

Originally Posted by LeithenHibby

I feel this is their (ubig) jewel in the crown. They may want a kings ransom for them...

Enter Bob Jamieson

The devil incarnate or hawrts saviour?
29-11-2013, 10:20 AM
Gus Fring

Quote:

Originally Posted by Golden Bear

Enter Bob Jamieson

The devil incarnate or hawrts saviour?

one and the same surely?
29-11-2013, 10:20 AM
Greenworld

Quote:

Originally Posted by Ozyhibby

Don't think the next vote needs to be 'in attendance' so an abstention would be a NO?

Does that mean if they don't vote or vote no the second stage fails
29-11-2013, 10:20 AM
greenpaper55

Sorry if this has been posted already but from this it seems there is still a way to go, what about his fat smug face ?.

http://www.bbc.co.uk/sport/0/football/25154126
29-11-2013, 10:24 AM
Leishy1995

Pledge to the Stop, Jambos. Rightly Tease the Ogres fund. In a bid to buy the shares

SJRTO for short.
29-11-2013, 10:25 AM
weonlywon6-2

Quote:

Originally Posted by matty_f

It wasn't a surprise really, there's still a long way to go before they're out of trouble, don't get frustrated- just sit back and enjoy what's to come.

Like what ??
29-11-2013, 10:27 AM
Gingertosser

So, if I'm reading this right .....

Ukio have accepted the £2.5m bid to cover their claim on the stadium
(still not sure exactly how much of that BDO will take)

UBIG are now saying "if you want us to vote for this then we want money for our shares"
(will that be about the same amount, it would seem thats why the begging bowl is out again)

will they be able to cobble another £2.5m together by February ?
29-11-2013, 10:33 AM
jacomo

Quote:

Originally Posted by bathhibby

It's conditional on them getting the UBIG shares which are subject to their liquidators who act on behalf if the Lithuanian Tax Payer. UBIG own the PBS - the only real asset so they won't give that up for sweeties - they'll get the max for the swindled Tax Payers

Nope, UKIO, the dead bank, own the PBS.
29-11-2013, 10:37 AM
TonyStokeprano

I'm just happy I didn't pay a tenner to find this out. champagne and cigars I've been hearing, Deary dear lets face it people no one on this board has a clue what's going on, it's all just guess work.

P.s I've got 5 million pounds waiting for one lucky member just pm me your bank details sort code expiry date etc and the winner will be announced in the next week
29-11-2013, 10:39 AM
Leithenhibby

Quote:

Originally Posted by jacomoseven

Nope, UKIO, the dead bank, own the PBS.

You sure about that? just that another poster said that UBIG owned it :confused:
29-11-2013, 10:40 AM
CropleyWasGod

Quote:

Originally Posted by LeithenHibby

You sure about that? just that another poster said that UBIG owned it :confused:

Neither own it.

HMFC (IA) own it, subject to a security held by UKIO.
29-11-2013, 10:40 AM
Elephant Stone

Quote:

Originally Posted by jacomoseven

Nope, UKIO, the dead bank, own the PBS.

Did this happen today?
29-11-2013, 10:41 AM
CropleyWasGod

Quote:

Originally Posted by TonyStokeprano

I'm just happy I didn't pay a tenner to find this out. champagne and cigars I've been hearing, Deary dear lets face it people no one on this board has a clue what's going on, it's all just guess work.

P.s I've got 5 million pounds waiting for one lucky member just pm me your bank details sort code expiry date etc and the winner will be announced in the next week

:rolleyes:

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