Hsl

[Cheshire Hibby]

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Cheshire Hibby

It's not boring and we appreciate your patience. While our Articles are clear and we continue to pursue our primary objective we have worked hard to build your trust and do not intend to lose that trust. We are mindful that the landscape has changed and just for a temporary period we will not be directing any funds anywhere without consulting our Members. Hibernian Supporters is the second largest shareholder in the Club and is here to stay and grow.
Further clarity of course is required and will be given.

Hibernian Supporters

Official HSL

More than happy to still be on board and glad to hear that consultation with members and clarity on future direction will follow. For my part, as my original post said, I am happy for my small monthly contribution to be retained at present and my preference is that it continues to be put towards the player budget.

Whilst it is for other members to make their mind up about keeping up contributions and to express their views on how it should be used, it would appear that many views on here suggest the player budget remains popular.

[Arch Stanton]

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Stop rabble rousing, give it a rest and allow the elected directors to do their job.

There was nothing rabble rousing about it, it was perfectly fair comment. You're the one coming out with jibes.

[PaulSmith]

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There was nothing rabble rousing about it, it was perfectly fair comment. You're the one coming out with jibes.

You quoted your “contract” with HSL as if there’s some legal action that you’d take if you weren’t satisfied with the direction of travel.

You also cast doubt on their commitment to be “member led”.

Maybe clarify what you meant and I will happily retract my comment.

[Arch Stanton]

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Cheshire Hibby

It's not boring and we appreciate your patience. While our Articles are clear and we continue to pursue our primary objective we have worked hard to build your trust and do not intend to lose that trust. We are mindful that the landscape has changed and just for a temporary period we will not be directing any funds anywhere without consulting our Members. Hibernian Supporters is the second largest shareholder in the Club and is here to stay and grow.
Further clarity of course is required and will be given.

Hibernian Supporters

Jim, I'm sorry if I've been giving you a hard time of it but I just can't get my head around the bit in bold.

Surely the articles and objectives must have been turned on their head by the takeover. As the OP says, there are no shares available to purchase which was the whole raison d'aitre for HSL.

I appreciate that there are other avenues for you to accumulate more shares - which I assume are needed for HSL to reach the all important 25% and us getting a board member, and I support this. But, while fan consultation may not be possible I do think there needs to be transparency here. What exactly do you see as your objectives and how are you to achieve them.

[Arch Stanton]

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You quoted your “contract” with HSL as if there’s some legal action that you’d take if you weren’t satisfied with the direction of travel.

You also cast doubt on their commitment to be “member led”.

Maybe clarify what you meant and I will happily retract my comment.

As a member of HSL I would be daft to take legal action against myself in effect. Nothing wrong with asserting my status I don't think. And nothing wrong with reminding HSL that they have obligations to members when considering a change of direction, albeit enforced.

I didn't cast doubt about commitment at all - I pointed out what I saw as a contradiction in the post. I personally would have wished for more transparency at the very least. I would like to have known what is to be discussed on Monday as I don't see any need for secrecy.

[1875STEVE]

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I think folk need to keep in mind that this is an unexpected development for HSL, and the way forward isn’t going to become clear after one or two brief meetings (or even long meetings).

I think patience is required, I don’t think stopping direct debits for the sake of waiting a little while - even a couple of months - is necessary.

There will be a few things to consider and I’d imagine HSL will want a good working relationship with Ron Gordon, so maybe we could give everyone concerned the time and space needed to get a good outcome for us all, rather than backing people into a corner to make a quick buy potentially bad, decision.

HSL’s email was perfectly reasonable imho. Time of needed folks, no point thumping our chests on here demanding answers or action if we don’t let folk figure out what questions need to be asked and what action should be taken.

Cracking post.

[emerald green]

Apologies if the following question has been answered already on this thread, I haven't read through it all.

What percentage of shares in Hibs does HSL currently own? i.e. how close is that percentage to the all important 25.1%?

[Lago]

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Apologies if the following question has been answered already on this thread, I haven't read through it all.

What percentage of shares in Hibs does HSL currently own? i.e. how close is that percentage to the all important 25.1%?

Well what ever it is any further increase to 51% fan ownership is dead according to thread on meeting Ron.

[A Hi-Bee]

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Well what ever it is any further increase to 51% fan ownership is dead according to thread on meeting Ron.

Have never been fussed with this 51% "fan ownership" (Were would future funding come from if this was the case?)
I am still relaxed about HSL and hope that whatever form it takes it keeps putting cash into the playing budget.
Only way we can compete with the likes of the sheep and the manky ones from the other side is by funding more from us supporters, dont care what format this takes just as long as the manager can get better quality players into Hibs.

[StevieC]

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Hibernian Supporters

Jim

I have tried messaging you about a payment issue, but your inbox is full.

Can you clear it and contact me please.

[tamig]

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Well what ever it is any further increase to 51% fan ownership is dead according to thread on meeting Ron.

Jim made it clear in his email that 25.1% was the main target. A lot of HSL members were happy with that. The 51% was a flight of fancy imo and not a position too many - certainly ones I’ve chatted with - had any real appetite for. Were you wanting HSL/the fans to own 51%?

[Golden Bear]

I'm not a member of HSL so maybe I should just butt out but today is the first time I've see the magical 51% as being the real target for outright fan ownership

God forbid going by the shenanigans we've seen on here recently! 😄😄

[Glory Lurker]

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I'm not a member of HSL so maybe I should just butt out but today is the first time I've see the magical 51% as being the real target for outright fan ownership

God forbid going by the shenanigans we've seen on here recently! 😄😄

And the lovely thing is that eventually that’s where Hearts are going to end up. Delicious!

[Gloucester Hibs]

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And the lovely thing is that eventually that’s where Hearts are going to end up. Delicious!

Let the bun fight commence!

[Lago]

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Jim made it clear in his email that 25.1% was the main target. A lot of HSL members were happy with that. The 51% was a flight of fancy imo and not a position too many - certainly ones I’ve chatted with - had any real appetite for. Were you wanting HSL/the fans to own 51%?

No I don't, I've said before that fan ownership is not for me, to be frank I think HSL has fallen between 2 stools, buy shares/provide funds for players ?
I would prefer a straight forward system as per Aberdeen, no ambiguity.

[Lago]

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I'm not a member of HSL so maybe I should just butt out but today is the first time I've see the magical 51% as being the real target for outright fan ownership

God forbid going by the shenanigans we've seen on here recently! 😄😄

This

[Pagan Hibernia]

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Well what ever it is any further increase to 51% fan ownership is dead according to thread on meeting Ron.

Few, if any, were ever interested in 51% majority ownership. For starters, the second individual supporter shareholders bought shares, then it became impossible for HSL to achieve 51%. It was never a realistic target, or even an abstract target.

The 25.1% was important to many of us and still is.

[lord bunberry]

HSL or whatever it’s called now is dead in its current form. The email we received today was full of bluster, but lacking in any detail. I’m quite happy to continue my direct debit, but clarity needs to be brought to the people donating. Whichever way it goes there’s going to be fans either walking away or joining up. My thoughts would be to scrap the whole thing and start again with a rewards scheme. HSL has never properly caught on with fans, not through the want of trying, but it’s been met with scepticism from certain groups from day one. Time to start afresh imo.

[CapitalGreen]

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Maybe the directors could let us know if we are still buying shares or not?

HSL is no longer buying shares as there is no shares available to buy.

[jacomo]

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HSL is no longer buying shares as there is no shares available to buy.

Thanks I deleted my post as I have now seen the email and belatedly read it.

I think this is a bit of a mess tbh but hope all will be cleared up on Monday.

[Lago]

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HSL or whatever it’s called now is dead in its current form. The email we received today was full of bluster, but lacking in any detail. I’m quite happy to continue my direct debit, but clarity needs to be brought to the people donating. Whichever way it goes there’s going to be fans either walking away or joining up. My thoughts would be to scrap the whole thing and start again with a rewards scheme. HSL has never properly caught on with fans, not through the want of trying, but it’s been met with scepticism from certain groups from day one. Time to start afresh imo.

This

[PaulSmith]

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HSL is no longer buying shares as there is no shares available to buy.

Well not strictly true is it, if I want to sell my shares to HSL then what is there stopping me from doing exactly that?

[Rocky]

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Well not strictly true is it, if I want to sell my shares to HSL then what is there stopping me from doing exactly that?

I'd like to think the articles of association prevent HSL from handing over my contributions to you

[CapitalGreen]

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Well not strictly true is it, if I want to sell my shares to HSL then what is there stopping me from doing exactly that?

Nothing stopping you from offering them to HSL but HSL could not buy them off you at present.

HSL have said all money raised will be given to the club to be added to the managers budget. If they were to give you money for your shares that would contravene that.

[Purple & Green]

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Well not strictly true is it, if I want to sell my shares to HSL then what is there stopping me from doing exactly that?

But that money won’t benefit hibs, just you. HSL is a vehicle to put money into hibs, not to buy shares - there’s a subtle distinction.

[CapitalGreen]

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But that money won’t benefit hibs, just you. HSL is a vehicle to put money into hibs, not to buy shares - there’s a subtle distinction.

The Articles of Association for HSL state the Primary Objective as buying and holding shares in the club.

Funding the club is only listed as a secondary objective.

[Purple & Green]

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The Articles of Association for HSL state the Primary Objective as buying and holding shares in the club.

Funding the club is only listed as a secondary objective.

Have a look at 4.1 - it says subscribe rather than buy - which I think is the pertinent distinction.

[Tiny_Tim]

I have put money into Hsl and I am not happy. I was paying in on the basis of fan ownership but farmer Tom gave up. I’m well pissed off.

[CapitalGreen]

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Have a look at 4.1 - it says subscribe rather than buy - which I think is the pertinent distinction.

To subscribe in this context means an agreed intention to buy shares prior to their issue.

[Purple & Green]

I think this highlights the confusion on hsl - but this is still on the front page of the website:

There is strength in solidarity. The more funds we raise, the more shares we can buy. Hibernian Supporters Limited (HSL) has a legally binding agreement with the Club that enables us to buy shares with our funds. This agreement is open-ended, meaning it has no closing date. We do however want to move faster. We have the opportunity to own a meaningful stake in our Club - let’s take it.

I feel sorry for JA having to sort this out, I’m a happy donator but I don’t see a way forward for the hsl in anything like it’s current form.