Hsl

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Originally Posted by hibbydad

The bottom line is if Hibs fans had got right behind HSL from the start we would not be in this position. All the rubbish about PONZI schemes and everything else has only done harm to the club

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:agree:

We've had four years to raise enough money to purchase these shares and we didn't do it.

The shares that HSL could have bought to give them a 25% holding have now been sold to Bydand as part of STF's exit from the club.

We now have to hope that the individuals that own roughly 15% of the clubs shares outwith HSL and Bydand are there to protect the club as well.

This might seem a daft question but if “we” hold enough shares to kybosh anything we choose, how come “we” weren’t consulted over the sale?

Presumably that means Big Ron could punt us on to whoever he wants, whenever he wants?

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Originally Posted by Danderhall Hibs

This might seem a daft question but if “we” hold enough shares to kybosh anything we choose, how come “we” weren’t consulted over the sale?

Presumably that means Big Ron could punt us on to whoever he wants, whenever he wants?

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:agree:
His shares are his to do with as he pleases. I think we can stop things like the stadium being sold etc though.

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Originally Posted by Danderhall Hibs

This might seem a daft question but if “we” hold enough shares to kybosh anything we choose, how come “we” weren’t consulted over the sale?

Presumably that means Big Ron could punt us on to whoever he wants, whenever he wants?

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He can sell his shares but he can’t sell Hibs . There is a difference roughly one is about selling what is yours to sell and the other may involve some limits on exercise of voting rights within a company structure.

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Originally Posted by TheHibsClub

The Trustees of The Hibernian Supporters Association were asked to facilitate the meeting last night to give Ron a chance to meet with supporters.

As such we invited branches to put forward three members to attend. 13 branches were represented along with our trustees and four of our honorary presidents.

As HFC planned this is as an informal "meet and greet" we did not minute last night's discussion. Of course, those branches in attendance will be able to update their members as they see fit.

We will be looking to organise further events with Ron over the course of this season and beyond. As per our recent Q&A with Paul and Robbie, full reports of those events will appear on our website.

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pretty poor stuff really. 39 people plus the "suits". hardly getting the message out?

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Originally Posted by craigiehibs

btw i think we are entitled to see detailed minutes from last nights meeting asap dont you..this is wider thsn hsl

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There are no detailed minutes. It was an informal gathering.

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Originally Posted by craigiehibs

pretty poor stuff really. 39 people plus the "suits". hardly getting the message out?

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It's ok I recorded it all on my phone and will make a podcast later

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Originally Posted by Danderhall Hibs

This might seem a daft question but if “we” hold enough shares to kybosh anything we choose, how come “we” weren’t consulted over the sale?

Presumably that means Big Ron could punt us on to whoever he wants, whenever he wants?

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It also seems we couldn't stop our shareholding being diluted so who is to say it couldn't be diluted further and take away rights to stop sale of stadium etc. Ideally it would be good for HSL to get to 25% and then get some additional minority shareholder protections including requirement for sale of land and buildings, allotment of new shares, etc.

Sent from my SM-N960F using Tapatalk

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Originally Posted by Baldy Foghorn

It's ok I recorded it all on my phone and will make a podcast later

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await with interest brockie

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Originally Posted by craigiehibs

await with interest brockie

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I was jesting

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Originally Posted by LeithMike

It also seems we couldn't stop our shareholding being diluted so who is to say it couldn't be diluted further and take away rights to stop sale of stadium etc. Ideally it would be good for HSL to get to 25% and then get some additional minority shareholder protections including requirement for sale of land and buildings, allotment of new shares, etc.

Sent from my SM-N960F using Tapatalk

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Million dollar question is who are behind the nominee holdings?

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Originally Posted by Baldy Foghorn

I was jesting

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quite

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Originally Posted by Baldy Foghorn

Million dollar question is who are behind the nominee holdings?

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What percentage of shares do they hold?

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Originally Posted by bernz

What percentage of shares do they hold?

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Not got that to hand at the moment bernz

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Originally Posted by kevinc

No problem re your questions. He was asked directly what his ask of the fans was, his response was that our continued attendance and support, he also stated that the academy would require investment from him and the fans, no ambiguity. Possibly other attendees could provide their perspective, I felt that he was clear on the fact that he is looking for fans to make an additional financial contribution in order to deliver his vision.

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So no statement indicating that HSL monies would be earmarked to develop the Academy?

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Originally Posted by craigiehibs

pretty poor stuff really. 39 people plus the "suits". hardly getting the message out?

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It was the fairest way to distribute the invites that we received.

Of course, if there were no "suits" HSA and The Hibs Club wouldn't exist and there would be nobody to organise future events with Ron that will be open to our wider membership.

If you feel this is unsatisfactory you can, as ever, make your feelings known via your branch committee if you are a member of HSA.

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Originally Posted by LeithMike

It also seems we couldn't stop our shareholding being diluted so who is to say it couldn't be diluted further and take away rights to stop sale of stadium etc. Ideally it would be good for HSL to get to 25% and then get some additional minority shareholder protections including requirement for sale of land and buildings, allotment of new shares, etc.

Sent from my SM-N960F using Tapatalk

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The authorised share capital of the company is defined in the Articles of the Company (currently 2.5m ordinary shares with a nominal value of 2p).

Any change to the Articles is considered a special resolution and therefore requires over 75% shareholder approval. To increase the share capital (dilute current shareholdings), the Articles would need to be amended, therefore 75% of shareholders would need to approve.

The share RG bought recently that diluted everyone’s shareholdings were approved in 2015 at the inception of HSL and the Articles were amended at this time to reflect this. Presumably (I have not checked), HFC holdings held over 75% of shares at this time so the amendment passed.

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Originally Posted by malcolm

He can sell his shares but he can’t sell Hibs . There is a difference roughly one is about selling what is yours to sell and the other may involve some limits on exercise of voting rights within a company structure.

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Think a special resolution and requires 76% of the votes.

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Originally Posted by TheHibsClub

It was the fairest way to distribute the invites that we received.

Of course, if there were no "suits" HSA and The Hibs Club wouldn't exist and there would be nobody to organise future events with Ron that will be open to our wider membership.

If you feel this is unsatisfactory you can, as ever, make your feelings known via your branch committee if you are a member of HSA.

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i am. wasnt a personal criticism butwsw th

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Originally Posted by TheHibsClub

It was the fairest way to distribute the invites that we received.

Of course, if there were no "suits" HSA and The Hibs Club wouldn't exist and there would be nobody to organise future events with Ron that will be open to our wider membership.

If you feel this is unsatisfactory you can, as ever, make your feelings known via your branch committee if you are a member of HSA.

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i am. wasnt a personal criticism bum but the point stands. whats wrong with sharing the messages to the wider family??

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Originally Posted by LeithMike

It also seems we couldn't stop our shareholding being diluted so who is to say it couldn't be diluted further and take away rights to stop sale of stadium etc. Ideally it would be good for HSL to get to 25% and then get some additional minority shareholder protections including requirement for sale of land and buildings, allotment of new shares, etc.

Sent from my SM-N960F using Tapatalk

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Shareholdings can only be diluted through approved share issues.

Ron, on his own, cannot authorise this because he does not own 75% of the shares. Any share issues will need to be approved by other shareholders in the knowledge that approving it will result in the dilution of their shares.

If there is a proposal to issue more shares to Bydand in return for a cash injection to the club that would take their overall holding above 75% I would expect the other shareholders to reject this in the best interests of the club.

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Originally Posted by MyJo

Shareholdings can only be diluted through approved share issues.

Ron, on his own, cannot authorise this because he does not own 75% of the shares. Any share issues will need to be approved by other shareholders in the knowledge that approving it will result in the dilution of their shares.

If there is a proposal to issue more shares to Bydand in return for a cash injection to the club that would take their overall holding above 75% I would expect the other shareholders to reject this in the best interests of the club.

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That's a relief! Was starting to get a wee bit worried that Ron could just keep issuing shares and buy them himself to dilute the percentage owned by me, and thousands of others whenever he wanted. The fact that this isn't possible is good news for all concerned.

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Originally Posted by craigiehibs

i am. wasnt a personal criticism bum but the point stands. whats wrong with sharing the messages to the wider family??

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Suspect the key point for many people was the topic of this thread.

Obviously it wasn't our event last night. The feedback from those that were there was positive, Ron himself seemed to enjoy the interaction.

As well as planning our own events for members we have also offered the use of The Hibs Club should HFC and Ron want to organise any events for other fan groups/the wider supporter base.

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Originally Posted by HFC93

Probably sensible to wait for an official update from HSL instead of speculating.

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Crazy talk, imo.

'mon the mental speculation

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Originally Posted by green day

Crazy talk, imo.

'mon the mental speculation

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We don’t help ourselves by not communicating - it gives time for tumour to grow into fact, no matter how outrageous. Look at what the Ponzi scheme stuff done to HSL and here we are again allowing folk to add their tuppence in with no official line to be referred back to.

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Originally Posted by tamig

So no statement indicating that HSL monies would be earmarked to develop the Academy?

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No statement indicating HSL monies would be earmarked for the Academy. Hi did state that he would not be selling shares to HSL as he is not selling his equity, he also said that he wanted fans to "pony up" for part of the cost of the Academy.

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Originally Posted by kevinc

No statement indicating HSL monies would be earmarked for the Academy. Hi did state that he would not be selling shares to HSL as he is not selling his equity, he also said that he wanted fans to "pony up" for part of the cost of the Academy.

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Thats fine. Interesting he said he wouldn’t be selling shares to HSL. Maybe he is going to get them over 25% in another way.
Come on HSL - give us that update please.

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Originally Posted by CentreLine

I imagine I am preachings to the converted here but it seems to me that our broader fan base has missed the bus as far as HSL is concerned. Various excuses, from misplaced distrust of STF, a pantomime like dislike of Rod Petrie and every conceivable made up objection. All the way through to stories of Ponzi scheme, have led to enough objectors to leave us short of the intended target that would have left us safe from aggressive takeover in the future. I firmly believe that STF has done all he can to pass us on to a safe pair of hands but what next?

We as fans have nobody to blame but ourselves. STF made enough new shares available for us to dilute his holding and to own a controlling interest of 51% of our club. But we blew it big style. We failed to come up to the mark. Nobody lives forever and STF quite simply had to move on. The new owner has different ideas on how the fans can contribute. The way I see it is that we can miss a new opportunity to take our club forward in a big way or we can get behind his vision and buy in to HSL for a new and forward looking future.

There is a new bus with a new destination waiting for us to climb aboard. Maybe those of us that can afford that little bit extra a month need to take a bit of a leap of faith and just get on board to see where it takes us. And let’s not forget there are many who do not have any more to give, “we are all Hibs” and we can all still enjoy the ride.

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Excellent post.

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Originally Posted by TheHibsClub

The Trustees of The Hibernian Supporters Association were asked to facilitate the meeting last night to give Ron a chance to meet with supporters.

As such we invited branches to put forward three members to attend. 13 branches were represented along with our trustees and four of our honorary presidents.

As HFC planned this is as an informal "meet and greet" we did not minute last night's discussion. Of course, those branches in attendance will be able to update their members as they see fit.

We will be looking to organise further events with Ron over the course of this season and beyond. As per our recent Q&A with Paul and Robbie, full reports of those events will appear on our website.

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Thanks for this useful update HC. Our Branch (East Lothian) is one of the largest active branches, we would really welcome the opportunity to be involved in these meetings. Is that something that could be arranged? Thanks HC.

One thing I've learned from this thread is that all the bickering & moaning proves to me that fan ownership of Hibs is a no no from my point of view.