Any More Questions For Hibernian Supporters Limited?

[Mikey]

Now that the AGM is out of the way, and with the launch date set for Monday, are there any further questions for HSL?

Please add them here and I'll make sure they're answered.

Bear in mind that you may find the answer in one of these previous threads......

HSL Q&A

Q&A with Leeann Dempster

Share Issue - The Basics

Hibernian Supporters Limited - Articles Of Association


Fire away.......

[Mikey]

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What happens if you start a direct debit but then have to stop?
Both in terms of your involvement in the scheme and the implications should you want to restart.

For example ..
if you cancel your direct debit after you've reached the minimum amount do you still have a voting right or do you have to walk away empty handed? what if you stop and then start up again a year or two later?

Does this cover it?.......

7. What would happen to my membership if I sign up for a monthly payment and I had to stop making payments as my circumstances changed before the term was complete?

A. Nothing, it would simply be paused. This is about goodwill. If a supporter losses their job or something else makes it temporarily difficult we would recognise this and allow them to carry on contributions when they are in a position to do so.

8. If you contributed the full amount in year 1 and stopped payment in year 2 would you still have vote/membership in HSL?

A. Yes. Once membership has been achieved it is for supporters to decide. If shares are still available you may choose to continue, to allow HSL to continue to increase the supporters’ stake in the Club.

[MB62]

One question from myself

If as an existing shareholder, you choose to increase your shareholding rather than joining HSL, will that money be used in the same way as the HSL money e.g. For the improvement of footballing matters?

[Baldy Foghorn]

Monthly payment of £18.75 therefore £225 per annum.

Does the whole £225 go direct to buying shares, or are there running costs involved?

Can a person sign up to HSL and carry on paying throughout their life, if they want to, i.e. will direct debit just continue monthly, until the persons states their intention to cancel it?

[Mikey]

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One question from myself

If as an existing shareholder, you choose to increase your shareholding rather than joining HSL, will that money be used in the same way as the HSL money e.g. For the improvement of footballing matters?

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Q - What exactly will all monies raised be used for? Playing staff, equipment, wages, etc?

A – It would be used in the running of the football department, so that’s wages, equipment, players, etc.

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Monthly payment of £18.75 therefore £225 per annum.

Does the whole £225 go direct to buying shares, or are there running costs involved?

Can a person sign up to HSL and carry on paying throughout their life, if they want to, i.e. will direct debit just continue monthly, until the persons states their intention to cancel it?

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2. What are the projected administration costs of HSL and will these be deducted from the funds raised through contributions?

A. We would anticipate these to be very low and any costs will be for essential needs such as ensuring our accounts and finances are properly audited. None of the Directors of HSL will receive any money either by way of salary or expenses.


3. Are any members of the HSL board being paid by HSL?

A. No, and the articles of association specifically prohibit this.


15. Once the £2.5m has been raised, will HSL continue to seek the annual membership fee? If so, will this be done with a view to a subsequent share issue? If not, how will membership be determined?

A. No. HSL can only collect funds if there are shares to buy. Membership is for life subject to meeting the Membership criteria.

Does that cover your questions chaps?

[Baldy Foghorn]

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Does that cover your questions chaps?

Yes for me

[h185forever]

Hi

they've avoided answering where their running costs will come from.

they say that they will be low ...but not how they will be funded ....all monies raised are supposed to be buying shares....is there another source of funds for HSL ?

where will the money for member certificates come from....what do they expect their annual running costs to be ...surely these have been estimated ?

Alarm bells ring when people avoid answering a simple question.

[talcy]

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Hi

they've avoided answering where their running costs will come from.

they say that they will be low ...but not how they will be funded ....all monies raised are supposed to be buying shares....is there another source of funds for HSL ?

where will the money for member certificates come from....what do they expect their annual running costs to be ...surely these have been estimated ?

Alarm bells ring when people avoid answering a simple question.

They didn't avoid anything, they provided answers you don't think go far enough. Do you want them to produce an estimate that breaks things down to manilla folders, paper clips and staples - or can it all be summarised as stationery? ;-)

They've clearly stated no director's will receive salaries or expenses. There are numerous professional printing businesses you can deal with via email that will print off and post certificates as per your instructions for very reasonable prices. Doesn't seem far fetched to think that in addition to people serving on the board as volunteers, Hibs could provide access to admin resources, meeting rooms, etc to facilitate the running of HSL and help keep costs down. Maybe they're just not concerned about the overheads of a relatively simple scheme like HSL?

Either you're prepared to accept that the running costs will be low or you're not. Either you can trust those involved to take every reasonable step to run things efficiently on behalf of the members of HSL or you're not. There really doesn't have to be a big, bad bogeyman in every corner. I'm all for a healthy dose of accountability and scrutiny, but when that tips over to barely concealed accusation and insinuation at almost every single turn - it's actually self-defeating paranoia that is damaging and toxic.

[SneakersO'Toole]

I know you require an IFA to buy shares direct with the club if you are a current non-shareholder. Does the same rule apply if you are an existing shareholder wanting to buy additional shares through the club?

[Mikey]

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I know you require an IFA to buy shares direct with the club if you are a current non-shareholder. Does the same rule apply if you are an existing shareholder wanting to buy additional shares through the club?

No, if you're an existing shareholder you can buy more shares in your own name without the need to go through an IFA.

That's more of a general question, not one that's specific to HSL

[MM19]

If we pay the money to HSL do we get a share certificate in our name and does the money get used as it is taken in every month so that it can be used to buy players for the new season or is it kept until the share issue is finished?

[Mikey]

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Hi

they've avoided answering where their running costs will come from.

they say that they will be low ...but not how they will be funded ....all monies raised are supposed to be buying shares....is there another source of funds for HSL ?

where will the money for member certificates come from....what do they expect their annual running costs to be ...surely these have been estimated ?

Alarm bells ring when people avoid answering a simple question.

The answer previously given is here.....

2. What are the projected administration costs of HSL and will these be deducted from the funds raised through contributions?

A. We would anticipate these to be very low and any costs will be for essential needs such as ensuring our accounts and finances are properly audited. None of the Directors of HSL will receive any money either by way of salary or expenses.

In addition to that HSL have confirmed that.........

In terms of costs; audit, any postage (minimal), bank charges and cost of producing certificates are all they envisage. The Club are providing admin assistance on a non recharge basis.

An anonymous donor has agreed to make a donation that it is believed will cover audit and certain other costs without requiring any membership rights.

[tamig]

I posted my interest on their website at the weekend which amounted to submitting my email address. Not had any acknowledgement. Are they only intending to contact people next month once it formally launches?

[Mikey]

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If we pay the money to HSL do we get a share certificate in our name and does the money get used as it is taken in every month so that it can be used to buy players for the new season or is it kept until the share issue is finished?

I think that's all covered here.......

28. What makes HSL contribution different from handing £300 into the office?

A. Subject to meeting the eligibility criteria for Membership you will acquire legal ownership in HSL that has legal ownership of shares in HFC. You will receive a Membership Certificate to demonstrate proof of that ownership and of course have a voice in a democratic process.

Just to clarify, that's a Membership Certificate for HSL, not a Share Cretificate for Hibs. You'll need to buy shares direct if you want one of those!

25. How frequently will funds be exchanged for shares?

A. Every time we reach £10,000 in donations.

[h185forever]

Mikey thanks for taking the time to answer what I considered reasonable questions. I'd never seen your last bit before or I'd probably never have asked .

i did find it funny to read the first response I got, and can understand why a lot of people are reluctant to post any questions ..on many subjects .....when that's the way the questions are taken, massaged into something they were not, nor intended to be.
i hadn't realised I could only ask positive questions

like some others on here now ...I don't and won't post much more to avoid upsetting the keyboard monitors who clearly believe that questions just shouldn't be allowed ...everything should just be accepted at face value.

i would like to think those kind of responses are noted by the admins and something is done to allow all points of view ....especially on a question thread

[Mikey]

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I posted my interest on their website at the weekend which amounted to submitting my email address. Not had any acknowledgement. Are they only intending to contact people next month once it formally launches?

Here ye go.........

An email will come out to everyone who noted interest before launch on Monday. There will also be information available on our website and other social media.

[BIGK]

Can you join the HSL payment scheme at any time or pay the £225 at any time during the year. Money is tight at the moment but should sort itself out in the next couple of months. Just wondering if there is any deadline in getting involved with HSL.

[tamig]

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Here ye go.........

Cheers bud.

[H18S NX]

Why can't i buy shares directly from the club but have to go through an IFA,which will cost me additional expense?

[Mikey]

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Can you join the HSL payment scheme at any time or pay the £225 at any time during the year. Money is tight at the moment but should sort itself out in the next couple of months. Just wondering if there is any deadline in getting involved with HSL.

Looks like it!......

There are no deadlines. Our subscription agreement allow us to buy shares that are available. We do not know how quickly they will go. We will keep fundraising until there are no more shares to buy.

[Mikey]

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Why can't i buy shares directly from the club but have to go through an IFA,which will cost me additional expense?

Again that's not really an HSL question but was covered here.......

The plan has been developed over a number of months – but was made more difficult by legislative changes which came into force last autumn. These changes were designed to provide further protection to investors in shares which are not “readily realisable”. An unforeseen consequence is that they create a barrier for most football clubs who want to encourage supporter ownership. The creation of a public share offer and prospectus would be prohibitive and disproportionate to the money raised.

The full announcement is here........

http://www.hibs.net/showthread.php?2...TTING-INVOLVED

[Hibbyradge]

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Why can't i buy shares directly from the club but have to go through an IFA,which will cost me additional expense?

It's the law.

[Arch Stanton]

I don't get the "minimum suggested donation is £225 per annum or £18.75 per month".

If it's only a suggestion can I donate less than £225 or will I only have a stake in HSL when £225 is donated?

Why "per annum" anyway? The Q&A stuff says it can be flexible.

[Mikey]

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I don't get the "minimum suggested donation is £225 per annum or £18.75 per month".

If it's only a suggestion can I donate less than £225 or will I only have a stake in HSL when £225 is donated?

Why "per annum" anyway? The Q&A stuff says it can be flexible.

Post 7 here.......

http://www.hibs.net/showthread.php?2...imited-Q-amp-A

Yes it is true, while we anticipate many contributors will choose to pay £18.75 per month there will be the facility to reach the target of £225 at the rate of £10 per month and if it takes a bit longer to get there so be it.

[MM19]

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I think that's all covered here.......



Just to clarify, that's a Membership Certificate for HSL, not a Share Cretificate for Hibs. You'll need to buy shares direct if you want one of those!

Thanks for answering my questions Mikey.

I know this isn't to do with HSL but do we know if Hibs are going to keep the share money separate from the normal Income or is it going to be lumped together as it usually is in the Accounts. If this happened it would stop all the arguing about whether the money was going to pay the debt.

[Mikey]

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Thanks for answering my questions Mikey.

I know this isn't to do with HSL but do we know if Hibs are going to keep the share money separate from the normal Income or is it going to be lumped together as it usually is in the Accounts. If this happened it would stop all the arguing about whether the money was going to pay the debt.

I suspect it'll be lumped in but with LD now looking after the place that might change. I did say to her at the recent Q&A that they should be clearer regarding finances but as I'd done the same with Hyland and Lindsay in the past I'm not expecting much to change.

I used the car park money as an example when I spoke to her and sure enough that accusation was chucked at them once again at the AGM. A simple explanation at the time would have buried that there and then.

[Arch Stanton]

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Post 7 here.......

http://www.hibs.net/showthread.php?2...imited-Q-amp-A

Thanks. The thread looks familiar but I obviously didn't get down as far as that.

I'm all for contributing something - even if it takes me a few years to reach the £225.

[MM19]

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I suspect it'll be lumped in but with LD now looking after the place that might change. I did say to her at the recent Q&A that they should be clearer regarding finances but as I'd done the same with Hyland and Lindsay in the past I'm not expecting much to change.

I used the car park money as an example when I spoke to her and sure enough that accusation was chucked at them once again at the AGM. A simple explanation at the time would have buried that there and then.

Thanks Mikey. It just seems the most simple thing for Hibs to do then it answers all the accusations getting thrown around by all the other groups. They should just come out and say that is what we're going to do and that would be another argument settled.

[macd123]

Hi mikey, my question is do the club anticipate shareholders being asked to plug holes in the club's finances (as STF does just now)?

If the club make a bigger than expected loss next year, will the begging bowl go out to the shareholders?
Or will they go for a bank facility? Or look to add to the mortgage from the holding company?

[portycabbage]

Is there a reason why the voting of members of HSL couldn't be reflected proportionally in an HFC shareholder vote, so that each vote in HSL is carried forward to a vote in HFC, rather than as a block vote (if I've understood it correctly)?

Also, am I right in thinking you would get a vote in HSL after you'd reached the £225 mark, however long that took (minimum officially £18.75 p/m, but £10 p/m also mentioned)? And it's one HSL member, one HSL vote, regardless of whether you decide to put more than £225 in?