Hsl

[El Gubbz]

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There’s nothing to say that HSL would get a seat on the board even if they reached their goal, which they won’t anyway.

20% shareholding buys you a seat - 2 seats if you’re a black knight supposedly

[Pagan Hibernia]

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Same here, after around 5 years of paying in, don't see the relevance now, while it is a democracy, its a bit like petulant kids not getting their way so F--K you all.
I did not hear what their alternative in this century would be, same old same old or worse.
GGTTH

I respect your view. Mine is that the 'petulant kids' are those who had a vote, for whatever reason didn't bother their arse using it, and are now ranting and raving because they don't agree with those who did vote. Not that any of it will matter in the long run.

[TrinityHFC]

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20% shareholding buys you a seat - 2 seats if you’re a black knight supposedly

No it doesn’t. The owners appoint the Board. The new articles if approved also describe the ability of the investors to appoint Directors.

There’s no mechanism for a specific percentage for minor shareholders to have a Board seat.

[blackpoolhibs]

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I'm the same flash.

Been donating £18.75 a month since the start but I can see it coming to a halt very shortly.

I've never really grumped about Hibs underachieving in the 56 years I have supported the club because simply going to the games gives me a buzz.

At 64 years of age there is a possibility we could be embarking on a great adventure and I would be furious if HSL stopped this from happening. It's hard enough trying to compete with other clubs without our own supporters making it even harder.

100% Spot on.

[TrinityHFC]

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I respect your view. Mine is that the 'petulant kids' are those who had a vote, for whatever reason didn't bother their arse using it, and are now ranting and raving because they don't agree with those who did vote. Not that any of it will matter in the long run.

It’s the nature of these things. Those wanting HSL to vote against are naturally a bit more motivated to vote.

I think the HSL governance is a bit all over the place. Their website is full of contradictions, the way they’ve chosen to interact only on these 2 resolutions over the years they’ve been in place is sketchy and it has been quite clear the views of those running HSL. Ultimately it is a small number of people, even in relation to the HSL membership as a whole who are able to influence the vote of a decent percentage of Hibs share register. There comes a a bit of responsibility with that but I don’t think the way they decide how to vote is hugely clear or informed governance wise.

[Pagan Hibernia]

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It’s the nature of these things. Those wanting HSL to vote against are naturally a bit more motivated to vote.

I think the HSL governance is a bit all over the place. Their website is full of contradictions, the way they’ve chosen to interact only on these 2 resolutions over the years they’ve been in place is sketchy and it has been quite clear the views of those running HSL. Ultimately it is a small number of people, even in relation to the HSL membership as a whole who are able to influence the vote of a decent percentage of Hibs share register. There comes a a bit of responsibility with that but I don’t think the way they decide how to vote is hugely clear or informed governance wise.

Why? Why were HSL members who desperately want the deal to happen, and its clear there are many of them, not motivated enough to vote for it?

[B.H.F.C]

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Why? Why were HSL members who desperately want the deal to happen, and its clear there are many of them, not motivated enough to vote for it?

I’d hazard a guess a lot of it is down to lack of understanding. A lot of people would have read the investment is approved etc and probably don’t understand the implications of voting / not voting and the potential impact of HSL saying no.

[TrinityHFC]

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Why? Why were HSL members who desperately want the deal to happen, and its clear there are many of them, not motivated to vote for it?

It’s just the way it is. It is not likely to make a difference so it is a bit of a protest vote. The fact that these resolutions have been picked for a vote is leading and the Chairman made his views quite clear on TV.

It is a bit like complaints/reviews. People are much more motivated to do so if they’ve had a bad experience.

Would be sensible to have some sort of threshold but doesn’t appear that there is.

[jakeshibs]

I sincerely hope that we manage to secure the much needed investment as we have underperformed for so many years and been unable to match the finance of our nasty neighbours, who receive a lot from their benefactor and supporters that we have never been able to match, yet we then blame the Gordons for not speeding more when we must shoulder some responsibility

fingers crossed we secure this investments as 51 years following the Hibs, I was stating to get excited

[El Gubbz]

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No it doesn’t. The owners appoint the Board. The new articles if approved also describe the ability of the investors to appoint Directors.

There’s no mechanism for a specific percentage for minor shareholders to have a Board seat.

Apologies - confusion comes from what was offered to HSL at the last share issue. That’s clearly been trumped (and some) since

Article on it here: https://theedinburghreporter.co.uk/2015/01/hibernian-supporters-limited-delight-at-fan-response/

[May21/05/16]

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I'm the same flash.

Been donating £18.75 a month since the start but I can see it coming to a halt very shortly.

I've never really grumped about Hibs underachieving in the 56 years I have supported the club because simply going to the games gives me a buzz.

At 64 years of age there is a possibility we could be embarking on a great adventure and I would be furious if HSL stopped this from happening. It's hard enough trying to compete with other clubs without our own supporters making it even harder.

Agree I'm like you been donating from the start but I ve cancelled my donations

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[Radium]

I must admit that I am surprised that so many people who actively wanted HSL to support the special resolutions didn’t vote but it is symptomatic of how the club have played this. Everyone thinks it’s done.

Limited messaging, talks of multi million pound investment in random interviews. Media piece with a former colleague. All a bit Razzle Dazzle.

Dry resolutions around increasing to 280M shares, technical changes to articles and a promise of jam tomorrow.

FWIW I think that the club should have engaged with HSL (and the 4000 fans it represents) and been bothered enough to turn up at the start of the night. Not to sate the ego of anyone in the room but my feeling was of a group of fans who had genuine questions around what the journey is. Irrespective of the proxy’s, there were 60 folk in the room that could have been brought on board but rather we were left to consider the implications of the end of fan involvement in running the club.

As it stands it’s
67% for/ 14% against
the special resolutions.

I would be astonished if the club don’t have assurances on the 10% holding and hope that is based on an understanding of the plans that HSL members were not privy to before making a decision on how the 14% shareholding would be voting.


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[Hibbyradge]

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I'm the same flash.

Been donating £18.75 a month since the start but I can see it coming to a halt very shortly.

I've never really grumped about Hibs underachieving in the 56 years I have supported the club because simply going to the games gives me a buzz.

At 64 years of age there is a possibility we could be embarking on a great adventure and I would be furious if HSL stopped this from happening. It's hard enough trying to compete with other clubs without our own supporters making it even harder.

I could have posted that exactly, in its entirety. HSL won't be getting any more £18.75s from me.

It's a shame that it's come to this, but given that there is zero prospect of any more shares becoming available, there's not much point in continuing to top up the bank balance.

[RMQ1967]

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What a car crash this is turning into for HSL.

The unfortunate thing is that the HSL directors are all passionate Hibs fans who all want success for the club as well as doing the right thing for HSL.

I didn't know any of them and went along to hear the discussions and cast my vote but also to see the character of the guys that are running HSL. All seemed thoroughly decent and knowledgeable guys that have probably spent may hundreds or thousands of hours working in the best interests of HSL over the past 7 or 8 years. Impossible to think there's not an emotional attachment to the HSL cause after being so close to it after all these years.

Although I'm disappointed with the outcome of the vote, some of the slurs on the knowledge & motives of the guys is pretty out of order. To be fair I had a pop on here about what I though of Jim Aidies' interview - having seen & heard him I have a different opinion and in future need to consider if I might be talking a lot of sh** about someone before I write it down.

Shame that more people didn't get along last night as it was a very interesting meeting with good folk and decent points being made and I think people would have come away with a slightly different perspective on things even if ultimately, the vote didn't go their way.

[Henderson2Del]

Surely a real question should be aimed at the club chairman here, why has he not had meaningful dialogue with such a large shareholder? Very poor form by the club and chairman. Like them or not hsl are a large shareholder

[Gloucester Hibs]

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Surely a real question should be aimed at the club chairman here, why has he not had meaningful dialogue with such a large shareholder? Very poor form by the club and chairman. Like them or not hsl are a large shareholder

Seems like they got the boy Robb onside and called it a day at that. A shame they didn’t bother doing a charm offensive on HSL to set some minds at ease, as IMO the optics don’t look great with HSL voting against.

[TrinityHFC]

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Surely a real question should be aimed at the club chairman here, why has he not had meaningful dialogue with such a large shareholder? Very poor form by the club and chairman. Like them or not hsl are a large shareholder

Who would the Chairman speak with? Doesn’t seem like the HSL leadership has any mandate as they will go with what members vote.

[Stairway 2 7]

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Who knows but I’ll try a wild stab at it and suggest the Chair of HSl might have been a good place to start finding out.

Stop squealing, you’re 100% certain the ownership will get what they want regardless of HSL, so calm down and stop talking mince.

We've managed pages of a subject that brings a lot of emotions without any personal insults yet..

[McD]

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Who knows but I’ll try a wild stab at it and suggest the Chair of HSl might have been a good place to start finding out.

Stop squealing, you’re 100% certain the ownership will get what they want regardless of HSL, so calm down and stop talking mince.

Easy buddy

[Brightside]

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20% shareholding buys you a seat - 2 seats if you’re a black knight supposedly

That’s not correct.

[CentreLine]

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Why would you be continuing to pay anyway? It's clear the money isn't going to hibs in either case

Oddly, this was part of the discussion last night. I may get this a little wrong but my understanding was that it is possible to take the views of each individual member of HSL and direct their payment accordingly, within the articles of association. These, in turn, can be altered and changed at any future general meeting should that be required to reflect changing views of members. Right now the articles make the principal function of HSL to accumulate funds with a view to purchasing shares in HFC, as or when they become available to purchase.

HSL is a members organisation and seems fully committed to represent the wishes of that membership based on a vote open to all members. Last night was the first time I have attended one of the AGMs and I thought it offered the opportunity for broad discussion. I would say there were about fifty/sixty or so people there.

[MagicSwirlingShip]

So HSL (or at least a percentage of HSL members) have voted not in favour of the Black Knight investment because they won’t be able to buy shares in thefuture, when they can’t buy shares currently anyway?

Is that the jist of it?

[RMQ1967]

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So HSL (or at least a percentage of HSL members) have voted not in favour of the Black Knight investment because they won’t be able to buy shares in the future, when they can’t buy shares currently anyway?

Is that the jist of it?

The vote was not about accepting or rejecting the Black Knight investment - it was about the right for HSL to have the option to buy shares in the upcoming issue. They won't have this option if Resolution 5 passes.

Even if they did have the option & did buy more shares I'm not sure it gives HSL any benefit.

[CentreLine]

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It’s just the way it is. It is not likely to make a difference so it is a bit of a protest vote. The fact that these resolutions have been picked for a vote is leading and the Chairman made his views quite clear on TV.

It is a bit like complaints/reviews. People are much more motivated to do so if they’ve had a bad experience.

Would be sensible to have some sort of threshold but doesn’t appear that there is.

The HSL directors made it clear that there was no vote proposed on any of the other club proposals as these only required to exceed 50% and the club major shareholding already significantly exceeds that. The only proposals that other shareholders could influence were the special resolutions that require a 75% majority.

[Brightside]

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So HSL (or at least a percentage of HSL members) have voted not in favour of the Black Knight investment because they won’t be able to buy shares in thefuture, when they can’t buy shares currently anyway?

Is that the jist of it?

In the “future” is wrong. In this sale of shares is what it covers. That’s what trinity keeps pointing out.

[MagicSwirlingShip]

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In the “future” is wrong. In this sale of shares is what it covers. That’s what trinity keeps pointing out.

Thanks both. Sorry I struggle to take in information after a certain time of night and after a certain dose of Ribena