Quote Originally Posted by Daniel 1875 View Post
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Was this change emailed to all members? The last email I received before yesterday’s update was in November relating to the appointment of a new board member.

Seems like a fairly substantial change after a vote was cast of all members around where funds would be directed at the end of September?

The theme of this thread, suggesting 100% of donations be handed to the club during the shutdown, would also suggest quite a few people are unaware of this change?
25th January

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.
It's good hibs people running HSL, but this is fundamentally flawed in my opinion. If there are no shares, and there is a still a will to donate money to Hibs, then it should be done through an entirely separate body set up for this purpose.