KickBack is in meltdown!

[matty_f]

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Farmers mortgage could have been converted to shares. This gives Ron a bigger holding and dilutes everybody else's. Think is likely the case. No real business man is going to take nothing fo paying off debt


Wilmington a depressing tax haven that is the murder capital of the USa. Don't go🙄

I’m pretty sure that the mortgage debt was not converted to shares.

Existing shareholder’s holdings have been unaffected. HSL, for example, own as much of the club today as they did last week.

[Groathillgrump]

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Has it ever been? Tbh, it's the cheese shop I'm really hoping for. Of course, Hibs are bigger than cheeses, but you know what the papers would say about that.

That'll go right over the heads of the younger posters on the here. Christians worldwide will be burning Hibs scarves in protest at your statement.

[FilipinoHibs]

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I’m pretty sure that the mortgage debt was not converted to shares.

Existing shareholder’s holdings have been unaffected. HSL, for example, own as much of the club today as they did last week.

They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

[matty_f]

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They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

They didn’t do that as far as I can see.

[Jones28]

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They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

That didn't happen though did it? There is no evidence to suggest that.

[Hibs4185]

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They didn’t do that as far as I can see.

I would imagine the debt to STF was approx £4 million.
Petrie’s 10% about £2 million (10% share of assets of £20 million)

Repaying STF would be his selling price and Rod gets his full value. The £6 million plus a 7 figure sum for investment seems to tie in with the figures being banded around.

What I do think we need clarification on, is at Companies House, HFC Holdings Ltd still holds security against the assets. I thought it was maybe admin but they’ve updated the floating charge so if HFC Holdings had discharged the securities then it would be showing by now.

Possibly Bydband LLC have bought the shares for HFC Holdings Ltd and that will continue to exist, but as an extra belts and braces they’ve taken
The floating change as well.

There’s a couple of questions I thinking needing answered as it’s a shame to have the negativity affecting would could quite possibly be one of the best things to happen to us.

[JeMeSouviens]

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I would imagine the debt to STF was approx £4 million.
Petrie’s 10% about £2 million (10% share of assets of £20 million)

Repaying STF would be his selling price and Rod gets his full value. The £6 million plus a 7 figure sum for investment seems to tie in with the figures being banded around.

What I do think we need clarification on, is at Companies House, HFC Holdings Ltd still holds security against the assets. I thought it was maybe admin but they’ve updated the floating charge so if HFC Holdings had discharged the securities then it would be showing by now.

Possibly Bydband LLC have bought the shares for HFC Holdings Ltd and that will continue to exist, but as an extra belts and braces they’ve taken
The floating change as well.

There’s a couple of questions I thinking needing answered as it’s a shame to have the negativity affecting would could quite possibly be one of the best things to happen to us.

There is no way anyone in their right mind would value Hibs at £20M. Yes, I know the accounts will have some nonsense figure like this based on a rebuild cost for the stadium but in the real world (and a hard headed businessman like the RON operates in the real world) Petrie will get a nice wee retirement lump sum of a couple of hundred grand and be off to get fitted for his nice new SFA blazer.

[Peevemor]

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I would imagine the debt to STF was approx £4 million.
Petrie’s 10% about £2 million (10% share of assets of £20 million)

Repaying STF would be his selling price and Rod gets his full value. The £6 million plus a 7 figure sum for investment seems to tie in with the figures being banded around.

What I do think we need clarification on, is at Companies House, HFC Holdings Ltd still holds security against the assets. I thought it was maybe admin but they’ve updated the floating charge so if HFC Holdings had discharged the securities then it would be showing by now.

Possibly Bydband LLC have bought the shares for HFC Holdings Ltd and that will continue to exist, but as an extra belts and braces they’ve taken
The floating change as well.

There’s a couple of questions I thinking needing answered as it’s a shame to have the negativity affecting would could quite possibly be one of the best things to happen to us.

Your calculation for Rod Petrie's share makes no sense. He owns 10% of HFC Holdings which, even prior to selling the football club, didn't have £20m of assets.

[Jones28]

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They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

Surely major shareholders would have be notified of such an event i.e. The dilution of their share in a company?

[Saturday Boy]

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I would imagine the debt to STF was approx £4 million.
Petrie’s 10% about £2 million (10% share of assets of £20 million)

Repaying STF would be his selling price and Rod gets his full value. The £6 million plus a 7 figure sum for investment seems to tie in with the figures being banded around.

What I do think we need clarification on, is at Companies House, HFC Holdings Ltd still holds security against the assets. I thought it was maybe admin but they’ve updated the floating charge so if HFC Holdings had discharged the securities then it would be showing by now.

Possibly Bydband LLC have bought the shares for HFC Holdings Ltd and that will continue to exist, but as an extra belts and braces they’ve taken
The floating change as well.

There’s a couple of questions I thinking needing answered as it’s a shame to have the negativity affecting would could quite possibly be one of the best things to happen to us.

I think your first three words are key.

[Hibs4185]

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I think your first three words are key.

That all any of us can do, but that’s the point in a forum.

[GreenLake]

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They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

These are Duterte like proclamations.

[Since452]

Hibs have said what has happened. Why are people trying to find negatives that aren't there?

[Cataplana]

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That'll go right over the heads of the younger posters on the here. Christians worldwide will be burning Hibs scarves in protest at your statement.

Yeah, yeah, yeah.

[Jones28]

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Hibs have said what has happened. Why are people trying to find negatives that aren't there?

Because some are insistent on being negative.

[tamig]

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They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

That would be a pretty bug slap in the pus to HSL donators and members. I can’t see that being anywhere near the truth.

[Since452]

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Because some are insistent on being negative.

This place is mental at times

[WhileTheChief..]

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Hibs have said what has happened. Why are people trying to find negatives that aren't there?

It’s crazy eh.

Read a few statements and watch a few interviews and you know what’s been done, by whom and why.

But nah, much better to speculate and try and find negatives.

[O'Rourke3]

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They will hold the same number of shares but a smaller percentage of the total shares. An American does not write off debt and loose money - in this case about $4 million. I am sure the debt was converted to shares and Ron bought the shares. Farmer and co can basically do what they like as a private company controlled by him. It will all come out in the wash.

He bought the Holding Company. Converting the mortgage into club shares makes no sense in any universe. A 79 yr old multi millionaire with a long history of community action really isn't going to "screw those last few millions" out of a club becasue his golden goose is finally deceased.

[Peevemor]

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He bought the Holding Company. Converting the mortgage into club shares makes no sense in any universe. A 79 yr old multi millionaire with a long history of community action really isn't going to "screw those last few millions" out of a club becasue his golden goose is finally deceased.

Was the money owed to the holding company or to STF personally?

[Jones28]

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This place is mental at times

It is, some are worse than others IMO but this insistence on looking for negatives is pretty pathetic.

[O'Rourke3]

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Was the money owed to the holding company or to STF personally?

I'd need CWG or Cavendish to clarify. We do know he bought the circa 69% of the existing shareholding. I would not be surprised if Sir Toms parting gift was the outstanding bank loan of £3M leaving RG free to invest. The seven figures may be the new indoor pitch at EM

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[Keith_M]

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Hibs have said what has happened. Why are people trying to find negatives that aren't there?

The same posters that find negatives in everything else.

[jacomo]

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Hibs have said what has happened. Why are people trying to find negatives that aren't there?

I’ve said elsewhere - there is a constituency of Hibs fans who think they should be running the club and STF should have given it to them.

That obviously is never going to happen, so they are going to be forever bitter and negative.

[1875STEVE]

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I would imagine the debt to STF was approx £4 million.
Petrie’s 10% about £2 million (10% share of assets of £20 million)

Repaying STF would be his selling price and Rod gets his full value. The £6 million plus a 7 figure sum for investment seems to tie in with the figures being banded around.

What I do think we need clarification on, is at Companies House, HFC Holdings Ltd still holds security against the assets. I thought it was maybe admin but they’ve updated the floating charge so if HFC Holdings had discharged the securities then it would be showing by now.

Possibly Bydband LLC have bought the shares for HFC Holdings Ltd and that will continue to exist, but as an extra belts and braces they’ve taken
The floating change as well.

There’s a couple of questions I thinking needing answered as it’s a shame to have the negativity affecting would could quite possibly be one of the best things to happen to us.

Hold on.

Petrie didn't have 10% of the club, Petrie had 10% of the holding company, who only had roughly 60% of the club.

The debt was sitting under £3m, about 2.9m. last i seen.

[Keith_M]

[jacomo]

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There’s some pointless nitpicking going on here.

The actual ownership structure under STF doesn’t matter. He has sold up, and left the club in far better shape than he found it. That’s it.

[JimBHibees]

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I’ve said elsewhere - there is a constituency of Hibs fans who think they should be running the club and STF should have given it to them.

That obviously is never going to happen, so they are going to be forever bitter and negative.

We do seem to have an incredible amount of financial experts in our support.. Maybe they should be getting on to their employers to get them to sponsor local football teams rather than the oval ball. Definitely a bizarre agenda.

[JimBHibees]

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There’s some pointless nitpicking going on here.

The actual ownership structure under STF doesn’t matter. He has sold up, and left the club in far better shape than he found it. That’s it.

That is all that is important.

[jacomo]

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There is no way anyone in their right mind would value Hibs at £20M. Yes, I know the accounts will have some nonsense figure like this based on a rebuild cost for the stadium but in the real world (and a hard headed businessman like the RON operates in the real world) Petrie will get a nice wee retirement lump sum of a couple of hundred grand and be off to get fitted for his nice new SFA blazer.

When HSL was launched, Hibs was valued at around £10m (£5m value of shares, plus £5m debt).

I think Easter Road had a nominal value of £20m but it's kinda arbitrary because it's not an asset that the club can sell.