Share Transfers Agreed/Cooling off period

[bingo70]

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I think it lies in the hands of the SPL committee. They were hit with a 2 month transfer embargo last month for late payment, what's the next step? A fine isn't an option. A points deduction?

If the wage bill alone is £600k per month, they'll probably need to raise a damn sight more than that over the next 10 days or so, and I honestly don't see that happening if the previous 2 months are a yardstick.

If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

[Saorsa]

[Peevemor]

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If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

I'd imagine any punishment will have been decided already with hearts being warned in advance.

[Craig_in_Prague]

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If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

The tax case is the most serious (imminent) threat. When does the hearing start?

[Stevie Reid]

I was just thinking how deep the similarities are between Rangers under Murray and Hearts under Romanov are - both had a Holy Grail that they threw money that they didn't have at after coming (relatively) close to winning; in Rangers' case the Champions League, Hearts' case the SPL.

Once it became abundantly clear that neither would come anywhere close to achieving said goal, they settled for simply trumping their greatest rivals and threw money that they didn't have at that - in Rangers' case it was spending a tenner to Celtic's fiver to win the domestic trophies, in Hearts' case it was playing the 'big' team card, outbidding us for players and dominating the derbies for the last 3 and a half years, sadly (for us) culminating in that day in May where the gap in spending (something in the region of £30M more in wages than us since Romanov's arrival) was exemplified in excruciating fashion.

Now the Hearts supporters are displaying the same staggering mix of ignorance and arrogance that many, many Rangers fans displayed (and still are), thinking that they are quite simply too big to be brought down and that they will carry on exactly as they are. As if May 2012 didn't hurt enough for us, imagine how ****ed Hearts would be if they hadn't won - less season tickets, no tie against Liverpool, home crowds even lower than they are. Now, they have been lucky to get yet another windfall from a cup tie against us.

Celtic would have been devastated to have missed out on putting Rangers under earlier by surrendering the three league titles to them (from 2008-09 to 2010-11) and seeing them win millions of pounds of Champions League money when they were on the brink - similarly, Hearts successes against us have helped prop them up for long enough. I could not bear to see us go through the double pain of losing AND missing the opportunity we have to cut off their last decent revenue supply this season.

We can hurt them really, really badly in December. Please let us do it.

[Mikey]

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If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

I think they're on the case now. September's meeting took so long that it happened after October's missed payment but the October meeting happened pretty quickly after that.

Assuming they miss pay day in November too I would expect the meeting to happen within a few days of it.

[cabbageandribs1875]

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"It's been a helluva seven years [since Romanov took over]," added Robertson. "Some of the players that have been here have been incredible".

Slightly struggling to think of any player who's been "incredible". Who does he mean? Nade? Kyle?

did the round boy seriously not learn ANYTHING in his time being a romanov employee, and now he's shamefully pleading with thick-headed yamboids to p@sh their money away in the wind, dearie me

[hibsmad]

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Oh dear. In between pie munching Blobbo has put out this begging message...

http://www.bbc.co.uk/sport/0/football/20219448

Check oot the the state of his coupon! He is getting uglier with age!

Only a Hearts legend could look like that.

[Caversham Green]

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As as aside - normally when there's a share issue the prospective investor is able to view a current set of accounts to weigh up the viability of any purchase. That's logical and a no-brainer.

Question - what was the year-end date of the last set of Yam accounts? Surely those accounts could be 18 months out of date and the situation could be far worse than was previously audited.

The last accounts available were to 30 June 2011 and the brochure (it's a prospectus in all but name) uses figures from that throughout. Given that we're now 4 months after their year end date the very least they should be giving is a summary of what the 2012 accounts will show, even if the figures are unaudited.

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Really hope your right but i wish they'd hurry up and get on with it. When do these shares that they're relying on go on sale? how long till we get an indication if they've been a success or not?

From the few jambos i've spoken to and the general mood of there fans that i can make out it sounds like it's going to be a massive flop, if that's the case could it be curtains before December?



There was some chief supporter yam in the paper last week praising the club for their honesty and transparacy

The shares are on sale now - the offer opened on 27 October and ends on 19 December. The fact that they're wheeling out various players and ex-players to urge fans to buy, together with the increasing urgency in the language they're using suggests it hasn't been a great success so far, but we may not know for sure until the 2012-13 accounts are issued - around May 2014 if previous performance is anything to go by. Of course something may happen before then that will give us a good idea of how it went....

[Mikey]

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Of course something may happen before then that will give us a good idea of how it went....

[Off the bar]

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Oh dear. In between pie munching Blobbo has put out this begging message...

http://www.bbc.co.uk/sport/0/football/20219448

is it just me or does nobbo's face in the picture not look quite alot like he's on the bog straining to push out last nights curry and lager binge?

[kennyh]

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I think they're on the case now. September's meeting took so long that it happened after October's missed payment but the October meeting happened pretty quickly after that.

Assuming they miss pay day in November too I would expect the meeting to happen within a few days of it.

Why the rush assuming they miss the deadline in Nov the minimum the SPL committee will do is to roll on the current 2 month signing embargo. If they set the meeting for the 23rd Nov and Hearts then pay up Dec and Jan using the share cash they will have the last week in Jan to bring players in. Lets hope this time the SPL don't meet till at least Dec 3rd and the 2 month ban will run through to Feb 3rd.

[Leithenhibby]

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Why the rush assuming they miss the deadline in Nov the minimum the SPL committee will do is to roll on the current 2 month signing embargo. If they set the meeting for the 23rd Nov and Hearts then pay up Dec and Jan using the share cash they will have the last week in Jan to bring players in. Lets hope this time the SPL don't meet till at least Dec 3rd and the 2 month ban will run through to Feb 3rd.

And "if" HMRC win the tax case!!....

[Sergey]

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As as aside - normally when there's a share issue the prospective investor is able to view a current set of accounts to weigh up the viability of any purchase. That's logical and a no-brainer.

Question - what was the year-end date of the last set of Yam accounts? Surely those accounts could be 18 months out of date and the situation could be far worse than was previously audited.

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The last accounts available were to 30 June 2011 and the brochure (it's a prospectus in all but name) uses figures from that throughout. Given that we're now 4 months after their year end date the very least they should be giving is a summary of what the 2012 accounts will show, even if the figures are unaudited.

Isn't that in breach of some sort of financial guideline? Surely if they have other figures available (which their accountants/auditors must have) then they should be publishing those instead of a balance sheet dated June 2011.

That's akin to Comet asking for investment while showing their June 2011 accounts, knowing full well that they're trading while insolvent. That's surely not on.

[Hibercelona]

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Oh dear. In between pie munching Blobbo has put out this begging message...

http://www.bbc.co.uk/sport/0/football/20219448

"The club is in serious, serious trouble."


As they would say over on brokeback....

[Broken Gnome]

Ukio Bankas Group, Lithuania’s biggest*publicly traded bank, fell to the lowest in almost four years after*saying it took ownership of a sports arena developer from borrowers who*pledged the company as collateral.***** The shares fell as much as 4 percent on the Nasdaq OMX Vilnius*exchange in the Lithuanian capital, closing down 2.6 percent at 0.148*euros ($0.19), the lowest since*Dec. 1, 2008, according to data compiled*by Bloomberg. Volume of 298,999 shares was five times the three-month*average.***** Ukio Bankas increased its stake in UAB Zalgirio Sporto Arena to*100 percent by taking over 94.9 percent of shares, valued at 357 million*litai ($132 million), from debtors, the lender said in a statement*before trading*today. Its shares have fallen during five of the last six*trading sessions since Oct.29, when the bank reported a group net loss of 44 million litai for nine*months of this year.***** By taking over the shares of the stadium developer, the bank said*it would “be able to accelerate the development and implementation of*the real estate project carried out by the company, and also will avoid*possible loan impairment losses.”

[brog]

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The last accounts available were to 30 June 2011 and the brochure (it's a prospectus in all but name) uses figures from that throughout. Given that we're now 4 months after their year end date the very least they should be giving is a summary of what the 2012 accounts will show, even if the figures are unaudited.



The shares are on sale now - the offer opened on 27 October and ends on 19 December. The fact that they're wheeling out various players and ex-players to urge fans to buy, together with the increasing urgency in the language they're using suggests it hasn't been a great success so far, but we may not know for sure until the 2012-13 accounts are issued - around May 2014 if previous performance is anything to go by. Of course something may happen before then that will give us a good idea of how it went....

Couldn't agree more, if they'd sold even say 20% their PR spin would have been in full drive by now. Perhaps even the Yams realise that a £100 a donation to Vlad's charity is a no no & are keeping their paws in pockets!
PS, particularly when £100 could buy a villa in Gorgie!

[green glory]

IIRC the day the news broke about the tax case it was mentioned the hearing was in 11 days time. That would have made it yesterday. Does anyone have any more info?

[green glory]

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IIRC the day the news broke about the tax case it was mentioned the hearing was in 11 days time. That would have made it yesterday. Does anyone have any more info?

Correction today. I wonder if the timing of Bumguts Blobbo's "serious serious trouble" appeal has anything to do with this.

[bingo70]

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Correction today. I wonder if the timing of Bumguts Blobbo's "serious serious trouble" appeal has anything to do with this.

http://www.guardian.co.uk/football/2...bunal-tax-bill

Think it was to last for 11 days after it started, not start in 11 days?

[Caversham Green]

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Isn't that in breach of some sort of financial guideline? Surely if they have other figures available (which their accountants/auditors must have) then they should be publishing those instead of a balance sheet dated June 2011.

That's akin to Comet asking for investment while showing their June 2011 accounts, knowing full well that they're trading while insolvent. That's surely not on.

I suspect it is in breach of the rules. A prospectus (or document in lieu of prospectus) is expected to give a picture of the current state of the issuing company's finances and 16 month old accounts clearly don't do that. I guess the saving grace is that the document doesn't claim that the shares are a good investment, although suggesting that a new state-of the-art stadium is even remotely viable strikes me as highly misleading.

[Sergey]

That's what I thought, Cav.

I'll put in a call to the FSA, UKLA & The London Stock Exchange to make them aware of my, sorry... all of our concerns!

[green glory]

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http://www.guardian.co.uk/football/2...bunal-tax-bill

Think it was to last for 11 days after it started, not start in 11 days?

Ah ok. Will be this month sometime though.

[Hibbyradge]

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Ukio Bankas Group, Lithuania’s biggest*publicly traded bank, fell to the lowest in almost four years after*saying it took ownership of a sports arena developer from borrowers who*pledged the company as collateral.***** The shares fell as much as 4 percent on the Nasdaq OMX Vilnius*exchange in the Lithuanian capital, closing down 2.6 percent at 0.148*euros ($0.19), the lowest since*Dec. 1, 2008, according to data compiled*by Bloomberg. Volume of 298,999 shares was five times the three-month*average.***** Ukio Bankas increased its stake in UAB Zalgirio Sporto Arena to*100 percent by taking over 94.9 percent of shares, valued at 357 million*litai ($132 million), from debtors, the lender said in a statement*before trading*today. Its shares have fallen during five of the last six*trading sessions since Oct.29, when the bank reported a group net loss of 44 million litai for nine*months of this year.***** By taking over the shares of the stadium developer, the bank said*it would “be able to accelerate the development and implementation of*the real estate project carried out by the company, and also will avoid*possible loan impairment losses.”

What does this mean?

[green glory]

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That's what I thought, Cav.

I'll put in a call to the FSA, UKLA & The London Stock Exchange to make them aware of my concerns!

Only doing your duty as a responsible citizen.

[Leithenhibby]

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What does this mean?

I believe that the mad one has had his basketball stadium seized by the bank........

Ooops, that is not what I thought it was.... But the link below will more than make up for my mistake :-)


https://newsclient.omxgroup.com/cdsP...ssageId=650056

[Broken Gnome]

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What does this mean?

Not a scoob, was hoping for finance-speak translation.

[cabbageandribs1875]

poor hertz 1.jpg

[Sergey]

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Couldn't agree more, if they'd sold even say 20% their PR spin would have been in full drive by now. Perhaps even the Yams realise that a £100 a donation to Vlad's charity is a no no & are keeping their paws in pockets!

PS, particularly when £100 could buy a villa in Gorgie!

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200

[bingo70]

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Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200

They should get a fairly decent plasma TV for that