Received the following email a short while ago.
While I voted for my money to go the buy players, I know this is going to cause some upset among people who wanted to buy shares. One question, how can the board stop people buying shares privately from another shareholder, or am I missing something?
Can I first of all wish all our Members and contributors a very Happy New Year.As you are aware Hibernian Supporters currently holds 15.3% of the shares in Hibernian. Late last year members elected to have their donations distributed in accordance with their particular wishes. As a result, from 1st October last year 65% of donations received by us have been passed to the Club to be used by the Football Dept. The remaining 35% of donations have been retained in anticipation of buying further shares.
I am now writing to you today to confirm that we have received a letter from the Club regarding the potential purchase of Shares. They have advised that “the Board is content with the balance of share ownership and will not approve the further sale or purchase of shares’’. This means that we are unable to acquire any shares from the Club or existing shareholders. It is important that this information is passed on quickly as we are aware that many Members/donators are contributing on the basis that their money will be used to buy shares. Members who currently donate to us should understand that in future we will be donating all future funds received to the Club for use by the football Dept.
The Club have passed on their thanks for all your generosity to date and have expressed a “desire to continue to work productively and proactively with HSL for the future progress and success of our Club”.
I confirm that we will seek to work with the Club to explore any and all other avenues to see how Hibernian Supporters can continue to financially support the Club.
James Adie
Chairman
Results 1 to 30 of 55
Thread: New HSL email - No more shares
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25-01-2020 04:26 PM #1
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New HSL email - No more shares
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25-01-2020 04:28 PM #3
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“This means that we are unable to acquire any shares from the Club or existing shareholders”
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25-01-2020 04:29 PM #4
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25-01-2020 04:30 PM #5
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This quote is hidden because you are ignoring this member. Show QuoteLast edited by GloryGlory; 25-01-2020 at 04:59 PM.
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25-01-2020 04:36 PM #6
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25-01-2020 04:37 PM #7
Surely they can’t stop individual shareholders to trade to each other?
i’ll need official HSL to clarify as the email certainly implies they won’t be able to buy shares from anyone
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25-01-2020 04:42 PM #8This quote is hidden because you are ignoring this member. Show Quote
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25-01-2020 04:42 PM #9
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It is also a daft use of HSL money as that would go to the shareholder not the club.
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25-01-2020 04:45 PM #10This quote is hidden because you are ignoring this member. Show Quote
Good question. I didn't notice that.
Surely I'm allowed to sell all of some of my shares to whomever I choose?
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25-01-2020 04:53 PM #11
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25-01-2020 04:54 PM #12This quote is hidden because you are ignoring this member. Show Quote
This new communication confirms he isnt going to dilute his own shareholding (which is what Tom Farmer was doing, effectively diminishing his own shareholding for the benefit of the club).
Wonder what the "Tom Farmer ponzi scheme" guys are thinking now
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However if people are concerned that RG has too large a holding, (I think that) people could gift their shares to HSL, or (cannae remember how it works) give HSL their voting rights or some other mechanism?
This was all mentioned some time back.
I am sure that Jim will clarify once the HSL guys have had a think about next steps.
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25-01-2020 04:57 PM #13
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25-01-2020 04:59 PM #14
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One thing in thinking here is that the club used to facilitate the transfer of shares i.e. from a shareholder to HSL and they won't even be doing that to benefit HSL.
Space to let
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25-01-2020 05:00 PM #15
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25-01-2020 05:01 PM #16This quote is hidden because you are ignoring this member. Show Quote
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25-01-2020 05:03 PM #17This quote is hidden because you are ignoring this member. Show Quote
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25-01-2020 05:03 PM #18
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25-01-2020 05:04 PM #19
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25-01-2020 05:07 PM #20
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It’s a private company that can’t offer shares to the public. There’s very likely restrictions in the Articles on accepting transfers. The Directors probably don’t have to.
I know they’ve accepted transfers in the past but doesn’t mean they’d have to keep doing so, particularly if they thought there was a cash market going on for them.
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25-01-2020 05:07 PM #21This quote is hidden because you are ignoring this member. Show Quote
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25-01-2020 05:08 PM #22madhatterLeft by mutual consent!
Club better announce these ambitious plans shortly because everything is added up to something that isn’t particularly good. New ownership means change, that’s understood...but the shape this change takes needs to be explained to the fans.
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25-01-2020 05:10 PM #23
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25-01-2020 05:13 PM #24
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25-01-2020 05:31 PM #25
So as a small shareholder it looks as though I could sell my shares directly back to the Club who in turn will increase their own shareholding and not make them available for re-distribution. I think.
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25-01-2020 05:42 PM #26
So if I now make a donation to HSL, it's guaranteed that money will go directly to footballing matters instead of faffing about with share purchasing?
Might treat myself if that's the case....
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25-01-2020 05:45 PM #27
I think this is a good point to properly re-purpose HSL as a vehicle to contribute funds to the club.
Fan ownership is no longer on the cards, and with no debt repayments to STF due there's no reason for any of the ponzi scheme crap to come up again, shop there is a real opportunity of a clean start here.
It has the potential to be completely unambiguous.
Contribute and support a healthier, more competitive team.
No politics, little in the way of running costs and no need for any complexity in the message.
If HSL get this next stage right, it could be a game changer for the club.Follow the Hibs podcast, Longbangers, on Twitter (@longbangers)
https://longbangers.hubwave.net
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25-01-2020 05:47 PM #28This quote is hidden because you are ignoring this member. Show Quote
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25-01-2020 05:51 PM #29This quote is hidden because you are ignoring this member. Show Quote
👍
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25-01-2020 05:54 PM #30
I’m a monthly contributor, where will my money be going now, as I wanted it go on buying shares
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