Share Transfers Agreed/Cooling off period

[truehibernian]

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Is a grade A Penicuik Hearts t**t.

Brian is okay to be honest - absolute sook towards players, especially Hearts players. I nearly boked into my hands when I heard him gushing over David Templeton this season just before he was about to do some post game interviews - to be fair to Templeton he couldn't get away from him quick enough. Added to that his dress sense is in keeping with being a Hearts fan and is rather hideous.

He's also piled on the timber this year - clearly Yogi and Fat Jim aren't inviting him to cosy wee golf rounds as often these days.

[Iggy Pope]

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Brian is okay to be honest - absolute sook towards players, especially Hearts players. I nearly boked into my hands when I heard him gushing over David Templeton this season just before he was about to do some post game interviews - to be fair to Templeton he couldn't get away from him quick enough. Added to that his dress sense is in keeping with being a Hearts fan and is rather hideous.

He's also piled on the timber this year - clearly Yogi and Fat Jim aren't inviting him to cosy wee golf rounds as often these days.

And all of this makes him OK?
I agree with 1875. He's a twat,

[truehibernian]

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And all of this makes him OK?
I agree with 1875. He's a twat,

Having met him aye he is okay HH - however he has the obvious failings. Hearts fan being at the top of that list :-)

[RyeSloan]

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Right, a couple of observations here:

First of all, the club is worth nothing because debts exceed assets and it has been trading at a loss for many years. That means the yams are being asked to pay for nothing but, as truehibernian says it's an emotional thing so they can be part of their club - fair play there.

This carries the same flaws as the proposed Sevco share issue - a permanent capital injection for transient benefit. The money will be used for annual costs such as wages and once it runs out they have to find more money for the next lot of expenses. Keep issuing shares and they dilute the value from an investment point of view so they can expect diminishing returns. From the emotional point of view the fans are just being asked to pay more for their football - it's not much different from putting ticket prices up.

They should issue a prospectus - presumably that's what the leaflet will be. Should be interesting reading.

The numbers don't really add up. They expect to raise £1.79m from the sale of shares at 11p each - that's just under 19.7m shares. There are currently just under 147m shares in issue (nominal value 10p each) so assuming it's a new share issue that would be nearly 12% of the club rather than the 10% they claim (they do say over 10% but I would have expected them to use the 12% figure).

If it's Mr Romanov selling his shares as Brian McLauchlin suggests, the money will go to Mr Romanov, not the club.

Finally (for now) a phrase that stands out for me is "a potential opportunity for the Board to test the willingness of supporters to get involved". If the issue fails (this time or in the future) Mr Romanov has every right to say "Well I gave them the chance to save their club, but they weren't interested." More than a hint of a threat there.

CAV if it's a new share issue would there be a need for the issue to be underwritten? Can't see any one taking this on.

I assume Hearts are privately held so what's the rules around this type of sale? Seems to me they are offering shares at a totally inflated price as they are effectively worthless....is there not some sort of investor protection to stop this happening....I.e the prospectus will surely be misrepresentative of the business and therefore a fraudulent offering?

[Capt Mainwaring]

There wasn't £1.79m offered by any investors a few years back when the Pieman had them on the brink which was why Vlad stepped in. If they couldnt raise it then in such dire circumstances how do they think they will raise it now when a meaningless 10% of the issued shares are up for grabs and all you get is a nice Certificate and a cup of tea at the AGM.

Dire mismanagement from Vlad, with no transparency and communication to the fans over the last 6 years on how the club is run and not a dicky bird over the non payment of wages fiasco yet he expects them to bail him out? Really looks like last throw of the dice stuff.

Share issue for short term working capital !! Tick Tock.

[Golden Bear]

Any Hearts fan buying into this will be making an emotional investment and I don't think for a minute that they will expect any real return for their money other than the forlorn hope that they may be able to postpone the inevitable doomsday scenario.

[bingo70]

I'm sure there'll be an obvious answer to this that i just don't know but if it's just effectively a donation for a few shares that in the bigger scheme of things won't mean anything but could potentially raise a decent amount of money what is the disadvantage to Hibs doing something similar?

Although it won't fix any long term issues that Hearts have, it sounds like it won't do any harm so on the face of it to a daftie like me it doesn't seem a bad idea?

Can someone educate me please

[Craig_in_Prague]

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I'm sure there'll be an obvious answer to this that i just don't know but if it's just effectively a donation for a few shares that in the bigger scheme of things won't mean anything but could potentially raise a decent amount of money what is the disadvantage to Hibs doing something similar?

Although it won't fix any long term issues that Hearts have, it sounds like it won't do any harm so on the face of it to a daftie like me it doesn't seem a bad idea?

Can someone educate me please

Of course raising more cash isnt a bad thing however as someone else said above, issuing shares for short term working capital is a pretty alarming sign. Not to mention they are worthless shares.

[green glory]

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Fat pishy controller

Jesus Christ!

[GoldenEagle]

8500 ST sales but a while back they were well on course for 10,000.

http://www.dailyrecord.co.uk/sport/f...ticket-1131811

[CropleyWasGod]

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There wasn't £1.79m offered by any investors a few years back when the Pieman had them on the brink which was why Vlad stepped in. If they couldnt raise it then in such dire circumstances how do they think they will raise it now when a meaningless 10% of the issued shares are up for grabs and all you get is a nice Certificate and a cup of tea at the AGM.

.

...in which case, it would be a better deal than we get!!!!

[Kato]

If the Jamtards come up short on this asking price they are Donald.

[ScottB]

Curious that again the media seem not to be asking any pertinent questions...

Club in massive debt, owner publicly stating he won't give them another penny, failed to pay their players on time two months running, now going to the fans with a begging bowl for cash.

There should surely be stories questioning their chances for survival? Once again the failings of those masquerading as journalists in Scottish football come to the fore. It'd be great if they could ask BBC Scotland's financial correspondent what his views on the situation could be, as I bet they'd be much more interesting than whatever Hearts fan they've got spinning a positive yarn on this latest lurch towards the grave...

[ronaldo7]

Tell all the Hearts you know,
They're skint, and they just need a bowl.

Begging bowl.jpg

[Kato]

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'd be great if they could ask BBC Scotland's financial correspondent what his views on the situation could be...

Nah. Alex Thomson is required.

Chances are the BBC's Scottish financial correspondent has dipped his toes in Jambo Succulent lamb sauce at some point, even if it's just toadying to Salmond and the rest of that ilk (i.e. all Scottish politicians.)

Someone should tweet Alex Thomson to see if he's interested.

Story still has develop though. Maybe a Scottish Journo is ready to point out the schemes dodginess. It's hardly soup to nuts that Hawrts are toiling going from their inability to find money to pay players on time, an incident which prompted the LRT driver bloke who manages them to claim it was the worst crisis at the club since the 70's, to asking their paying customers to stump up an extra 1.7M Squids per annum - and apparently they will be asked for this every year for a while if this enterprise is successful, which I'm sure it will ().

I reckon the late, great and frequently pished Scottish football writer John Fairgreave will finally get his wish for his beloved Jambos, if you know what I mean.

[greenginger]

I wonder if the Save our Hearts campaign that sprang up when Robinson was going to flog the PBS to Cala will be reformed.

I seem to remember one guy was going to sell his house and put the proceeds into the fund. To bad for Vlad there's not much demand for single-ends with outside toilets in today's market.

[SloopJB]

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Nah. Alex Thomson is required.

Chances are the BBC's Scottish financial correspondent has dipped his toes in Jambo Succulent lamb sauce at some point, even if it's just toadying to Salmond and the rest of that ilk (i.e. all Scottish politicians.)

Someone should tweet Alex Thomson to see if he's interested.

Story still has develop though. Maybe a Scottish Journo is ready to point out the schemes dodginess. It's hardly soup to nuts that Hawrts are toiling going from their inability to find money to pay players on time, an incident which prompted the LRT driver bloke who manages them to claim it was the worst crisis at the club since the 70's, to asking their paying customers to stump up an extra 1.7M Squids per annum - and apparently they will be asked for this every year for a while if this enterprise is successful, which I'm sure it will ().

I reckon the late, great and frequently pished Scottish football writer John Fairgreave will finally get his wish for his beloved Jambos, if you know what I mean.

Never, in the field of football banter, was so much written, with so little meaning

[Kato]

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Save our Hearts campaign

Were they not the cats who attacked the Hearts team bus?

They attacked their own team bus, honestly they are the biggest morons around.

They will be bragging about "fan ownership" or somesuch for the next two months and raise about 50 bob. Sad barstewards really.

[ScottB]

I'm struggling to see how this works though as reported.

If Vlad is selling his shares, what guarantee is there that he'll actually hand over the cash to the club?

If the club is creating new shares to sell, then presumably the club gets the money straight away, but then also what stops Vlad trousering that money straight away for interest payments or any other excuse he decides is worth using...

[jonty]

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I'm struggling to see how this works though as reported.

If Vlad is selling his shares, what guarantee is there that he'll actually hand over the cash to the club?

If the club is creating new shares to sell, then presumably the club gets the money straight away, but then also what stops Vlad trousering that money straight away for interest payments or any other excuse he decides is worth using...

If Vlad is selling his shares, then he gets the money - it wont go near the club.

He must be completed rooked if he's trying to get 2 million.

[NotoriousLor]

When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

[Bostonhibby]

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When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

Great idea, you do get a certificate but I cannae see you getting anywhere near that tinderbox wi a match

[Jonnyboy]

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When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

Time for some photoshopping by some of our in-house guru's I think

Remember the Vlad bank note?

[greenginger]

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If Vlad is selling his shares, then he gets the money - it wont go near the club.

He must be completed rooked if he's trying to get 2 million.

He's got an Alumina Smelter to save, at least it made a profit for UBIG one year unlike the PBS money-drain.

[Kato]

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Never, in the field of football banter, was so much written, with so little meaning

Why thank you.

[Jim44]

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When you buy a share do you actually get a bit paper saying something like you own 1 share in hertz, if so can we all buy 1 each to take to that dump on the 3rd, hold them up while singing 'we ****ing own you'.
Then in unison, burn them all?

Minimum purchase is 909 shares for £100.

[NotoriousLor]

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Minimum purchase is 909 shares for £100.

Think we can all chip in though?

[ScottB]

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Time for some photoshopping by some of our in-house guru's I think

Remember the Vlad bank note?

The Vlad Bank notes simply must come back!

If we do the shares thing, let's Photoshop them, not give them money!

If we get a shot of what one of their shares looks like, I can fake it...

[EskbankHibby]

Spoke to a couple of jambos tonight who are actually going to buy shares. Yes that's right buy shares in an insolvent company owned by a shady madman.

Emotional attachment or not any potential 'investors' should be sectioned. How much time would 1.7m buy them with the money they hemorrhage on a monthly basis?

Deck chairs on the Titanic and all that.

[Hibby70]

As Im walking round Disney can someone do a quick summary of events so I can inform any passing yams.