Share Transfers Agreed/Cooling off period

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Originally Posted by Jack

Mind if they go into liquidation they will have no football club, nowhere to play, no league to play in and everything else that starts no. Apart from that your plan is perfect ;-)

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sounds good to me :greengrin

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Originally Posted by mowgli

Highest was 29091 vs Rangers.

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You might want to let the London Hearts guys know then, they have a different figure from you :cb

edit - brog beat me to it. Great minds and that :wink:

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Originally Posted by Hibby Kay-Yay

The main difference between FANCO and the comparisons to David Lloyd, Experian, Lovefilm etc is that you actually get something for your money with the latter.

You don't get squat with FANCO "donations", nothing, nada. I can't see it working beyond 6 months (if it even gets past the successful bid stage in the first place)

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The Yams will know that this DD scheme is not a sustainable plan. The aim will be to survive Administration, get the Liths off their backs and then market the club to some Hearts minded business people who will see the club as a much better proposition once the debts are cleared. No idea where this leaves the yam fans who paid their DDs. As far as I know, they get no equity in the club and it's effectively dead money. How they got 7000 to buy into that is amazing. Could end up the biggest scam since ... well .... their last share issue.

The alternative was to just let the club die and start again. Me thinks many yams who have shelled out cash will realise this would have been the better route.

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Originally Posted by Treadstone

I checked as well Brog using LH. All the things you say in your original post were correct. Even a Scottish cup game against der hun didn't get Mowglis optimistic 29k and remember there was a TV blackout that season that lasted until Feb/Mar (?). Yams must have been more than 20 games into their unbeaten run when they got a measly 12k for a game against Motherwell in March. To be fair though it was a Saturday and BBC 2 would probably have been running a Doris Day flick against it.

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If it was Pillow Talk with Rock then that makes sense! :greengrin

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Originally Posted by Onion

The Yams will know that this DD scheme is not a sustainable plan. The aim will be to survive Administration, get the Liths off their backs and then market the club to some Hearts minded business people who will see the club as a much better proposition once the debts are cleared. No idea where this leaves the yam fans who paid their DDs. As far as I know, they get no equity in the club and it's effectively dead money. How they got 7000 to buy into that is amazing. Could end up the biggest scam since ... well .... their last share issue.

The alternative was to just let the club die and start again. Me thinks many yams who have shelled out cash will realise this would have been the better route.

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Tried to have a sensible discussion with a Yam at work re: the last share issue and his lost cash (several hundred pounds worth)...seems he's happy enough to have lost it, thinks it was "worthwhile", and would do the same again (well in fact has...with FOH).

Some of them deserve to be ripped off, quite frankly.

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Originally Posted by Disc O'Dave

Tried to have a sensible discussion with a Yam at work re: the last share issue and his lost cash (several hundred pounds worth)...seems he's happy enough to have lost it, thinks it was "worthwhile", and would do the same again (well in fact has...with FOH).

Some of them deserve to be ripped off, quite frankly.

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"A Yam and his cash are easily parted"

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Originally Posted by Disc O'Dave

Tried to have a sensible discussion with a Yam

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Let me stop you there. Isn't this an oxymoron??? :D

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Originally Posted by Filled Rolls

Thought the season ticket money had disappeared?

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For this season, yes, but they would have ST cash for next season as normal (which is what Andy was talking about). The idea is to run the club this season and possibly during the summer with the pledges and then use those to repay the loans for buying the club after that.

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Originally Posted by Bad Martini

Let me stop you there. Isn't this an oxymoron??? :D

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Yup, I can see where I went wrong there...... :wink:

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Originally Posted by Hibby Kay-Yay

The main difference between FANCO and the comparisons to David Lloyd, Experian, Lovefilm etc is that you actually get something for your money with the latter.

You don't get squat with FANCO "donations", nothing, nada. I can't see it working beyond 6 months (if it even gets past the successful bid stage in the first place)

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I've been told that all fannies who donate for a full year will receive a limited edition embroidered donald ford cardigan, if they pledge more than £50 per month they can pish on Gary Locke without an appointment.

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Originally Posted by Disc O'Dave

Tried to have a sensible discussion with a Yam at work re: the last share issue and his lost cash (several hundred pounds worth)...seems he's happy enough to have lost it, thinks it was "worthwhile", and would do the same again (well in fact has...with FOH).

Some of them deserve to be ripped off, quite frankly.

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Have the share certificates been sent out yet?

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Originally Posted by Dunderhall

Trevor Birch quoted at the shareholder dinner as early season ticket sales may be a way to address cash needs from February.
Sounds like a stable financial footing to me.:wink:

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With a bit of luck they will be charging them top SPFL Premiership season ticket prices for a Championship season ticket.:greengrin

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Originally Posted by Disc O'Dave

Tried to have a sensible discussion with a Yam at work re: the last share issue and his lost cash (several hundred pounds worth)...seems he's happy enough to have lost it, thinks it was "worthwhile", and would do the same again (well in fact has...with FOH).

Some of them deserve to be ripped off, quite frankly.

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Bet you wont try that again :greengrin

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Originally Posted by Northernhibee

Have the share certificates been sent out yet?

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1. Mid March
2. After the AGM
3. Never

Some suggestions from a Yam at last night's Shareholders dinner that BDO have agreed a cap on their fees with Ukio?

Can they do that? Correct me if I'm way wrong here but that sounds to me like a complete load of p1sh surely?

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Originally Posted by EK_Hibs

Some suggestions from a Yam at last night's Shareholders dinner that BDO have agreed a cap on their fees with Ukio?

Can they do that? Correct me if I'm way wrong here but that sounds to me like a complete load of p1sh surely?

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Not sure that's a good thing for Hearts.

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Originally Posted by EK_Hibs

Some suggestions from a Yam at last night's Shareholders dinner that BDO have agreed a cap on their fees with Ukio?

Can they do that? Correct me if I'm way wrong here but that sounds to me like a complete load of p1sh surely?

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Should be all wrapped up pronto then - bub-bye jamboroids!!

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Originally Posted by EK_Hibs

Some suggestions from a Yam at last night's Shareholders dinner that BDO have agreed a cap on their fees with Ukio?

Can they do that? Correct me if I'm way wrong here but that sounds to me like a complete load of p1sh surely?

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Yes they can and it's totally fine, most bank appointed insolvencies are done on a fixed fee basis, quite often they will decide on who will do the job based on who has the lowest fixed fee quote.

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Originally Posted by robinp

Yes they can and it's totally fine, most bank appointed insolvencies are done on a fixed fee basis, quite often they will decide on who will do the job based on who has the lowest fixed fee quote.

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Be really interested to know what BDO's capped fee would be?
Surely in the £500k ball park I would have thought.

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Originally Posted by EK_Hibs

Be really interested to know what BDO's capped fee would be?
Surely in the £500k ball park I would have thought.

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It will really depend on the deal they struck with the Lithuanians, it could be time in line fees capped to £500k, it could be time in line capped to £500k + x% of sales price (if CVA agreed and completed) or + x% of realisations (if a liquidation sale occurs).

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Originally Posted by robinp

Yes they can and it's totally fine, most bank appointed insolvencies are done on a fixed fee basis, quite often they will decide on who will do the job based on who has the lowest fixed fee quote.

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Crops will be raging. Expect a strongly worded email to the FSA. How dare they !

Pah. :faf:

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Originally Posted by Ozyhibby

Not sure that's a good thing for Hearts.

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Why not?

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Originally Posted by bingo70

Why not?

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If their fee is fixed, they will want to end their role in the death of Hearts as soon as possible and are therefore more likely to act towards the quickest resolution i.e liquidation.

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Originally Posted by Pames McJake

If their fee is fixed, they will want to end their role in the death of Hearts as soon as possible and are therefore more likely to act towards the quickest resolution i.e liquidation.

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Perhaps, but that's not their decision to make. They can only act when The Lithuanian Admins give their say so. BDO do not make the major decisions in this instance.

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Originally Posted by Pames McJake

If their fee is fixed, they will want to end their role in the death of Hearts as soon as possible and are therefore more likely to act towards the quickest resolution i.e liquidation.

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That's certainly true but from the other perspective it could mean Liths are moving towards accepting a lower fee & don't want a huge chunk of that to go to BDO. I hope that's not the case & TBH, I suspect there's a 3rd scenario, ie that this admin could go on forever & so BDO/UKIO recognise there has to be a line in the sand fee wise. If BDO continued to bill at same rate as for 1st month to July 19, ie about £6.4k a day they would hit £500k mark in next week or so. That's not sustainable though I suspect activity may well have diminished, at least on part of high charge-out personnel..
Just another day at the PBS circus!

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Originally Posted by Treadstone

Crops will be raging. Expect a strongly worded email to the FSA. How dare they !

Pah. :faf:

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Why?

(the FSA doesn't exist any more, by the way)

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Originally Posted by CropleyWasGod

Why?

(the FSA doesn't exist any more, by the way)

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Remembered a previous jocular post from you about charging. Even put the :faf: to make clear my intent.

Wish I hadn't bothered.

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Originally Posted by Treadstone

Remembered a previous jocular post from you about charging. Even put the :faf: to make clear my intent.

Wish I hadn't bothered.

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Sorry, sense of humour bypass this afternoon. It's been a tough week :cb

IamanMP has sent out the following 'warning' to the "Greatest Supporter Movement"




Dear Supporter,



On Monday the start of a process to begin the greatest supporter movement in Scottish football history gets underway with the first UK direct debits drawdown by the Foundation of Hearts.


We have 7,400 supporters signed up, but when the management team of Jambos Kickback told us we could write to the entire 20,000 strong membership it was too good an opportunity not to take!


So, if you have signed up I simply say, ‘thank you’. Because of you this adventure begins.


Of course it is because of you, the amazing Hearts support, that the club survives today.


The Foundation of Hearts is seeking to secure a future which we can all be proud of, every bit as amazing as our past.


For that reason, if you have not already done so, I would urge that, if you can, you do sign up to make a monthly contribution via direct debit to the Foundation.


The Foundation backed bid sees Edinburgh business provide the up-front capital, through BIDCO, and then enter a binding contract with FANCO to sell the club, at no personal gain, in a controlled manner.


It really is a win-win situation, as I’ve said, because we are able to secure the future of club we love, and play a meaningful part in its future.


CLICK HERE TO CREATE HISTORY http://www.foundationofhearts.org/now-is-the-time-to-make-history/ (http://www.foundationofhearts.org/now-is-the-time-to-make-history/)

Thank you.



Yours in Hearts,

Ian Murray
Chairman, Foundation of Hearts


PS – we know many of you are outside the UK, so there is a PayPal facility available on the above link!

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Originally Posted by Golden Fleece

IamanMP has sent out the following 'warning' to the "Greatest Supporter Movement"




Dear Supporter,



On Monday the start of a process to begin the greatest supporter movement in Scottish football history gets underway with the first UK direct debits drawdown by the Foundation of Hearts.


We have 7,400 supporters signed up, but when the management team of Jambos Kickback told us we could write to the entire 20,000 strong membership it was too good an opportunity not to take!


So, if you have signed up I simply say, ‘thank you’. Because of you this adventure begins.


Of course it is because of you, the amazing Hearts support, that the club survives today.


The Foundation of Hearts is seeking to secure a future which we can all be proud of, every bit as amazing as our past.


For that reason, if you have not already done so, I would urge that, if you can, you do sign up to make a monthly contribution via direct debit to the Foundation.


The Foundation backed bid sees Edinburgh business provide the up-front capital, through BIDCO, and then enter a binding contract with FANCO to sell the club, at no personal gain, in a controlled manner.


It really is a win-win situation, as I’ve said, because we are able to secure the future of club we love, and play a meaningful part in its future.


CLICK HERE TO CREATE HISTORY http://www.foundationofhearts.org/now-is-the-time-to-make-history/ (http://www.foundationofhearts.org/now-is-the-time-to-make-history/)

Thank you.



Yours in Hearts,

Ian Murray
Chairman, Foundation of Hearts


PS – we know many of you are outside the UK, so there is a PayPal facility available on the above link!

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I'm sure for the mini follow followers of throwback all this will be new to them that someone is trying to get more money from them.