Share Transfers Agreed/Cooling off period

[WindyMiller]

This quote is hidden because you are ignoring this member. Show Quote

I got one as well...

The Miller's Wife got one too.


But only because I use her e-mail address on there.

[Judas Iscariot]

This quote is hidden because you are ignoring this member. Show Quote

Hearts Owner Romanov’s Ukio Bankas Shares Plummet on Arena Deal2012-11-12 14:34:35.497 GMTBy Bryan BradleyNov. 12 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank controlled by*Edinburgh soccer club Heart of Midlothian Plc owner Vladimir Romanov,*fell to an eight-year low on the Vilnius exchange, losing a quarter of*its value in a month.The shares fell as much as 12.4 percent*today, closing down7 percent at 0.12 euros ($0.15), the lowest sinceOct. 28, 2004,*according to data compiled by Bloomberg. Volume of 766,022 shares was 11*times the three-month daily average. The shares have lost 24.5 percent*since Oct. 10.
The decline began after the bank reported a nine-month net loss on Oct.*29, and accelerated on Nov. 6, when it said it took over a Lithuanian*sports arena developer from debtors. Swedbank changed the shares to ‘no*recommendation’ from ‘buy’ on Nov. 9, citing a lack of information about*the effect of the arena transaction. Romanov owns 64.9 percent of Ukio*Bankas shares, according to a note in the bank’s earnings report.“Investors really question the valuation of that property developer,*which is a big part of the bank’s assets, and so they don’t know how*much its equity may be worth now,” Finasta investment bank analyst Tadas*Povilauskas said by phone. “And if Romanov hasn’t rescued his soccer*club and hasn’t increased the share capital of Ukio Bankas as was*planned some time ago, it probably means he just can’t find the money.”Kaunas, Lithuania-based Ukio Bankas’s investor relations department was*unable to comment immediately on the share performance when reached by*Bloomberg, and did not answer subsequent calls over about two hours.Heart of Midlothian, which identifies Romanov as principal shareholder*on its website, said there on Nov. 7 that it had been issued with a*winding-up order by a Scottish court due to overdue tax payments of 450*million pounds ($714 million). The club is asking fans to buy shares and*tickets in order to help it avoid bankruptcy, according to an open*letter its website.--*

Vlad is well ****ed...

In turn they are well ****ed...

Hahaha

[jacomo]

This quote is hidden because you are ignoring this member. Show Quote

I've heard the council are planning to raise the rents in Lochend, and put a surcharge on long term caravan pitches.

They'll be charging me for electricity next!

[HoboHarry]

Apologies if this has been asked before, but if they fail to pay the bill on Thursday, what will the process be after that? How long will it take to liquidate them?

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Apologies if this has been asked before, but if they fail to pay the bill on Thursday, what will the process be after that? How long will it take to liquidate them?

A liquidator will be appointed, possibly that same day.

The liquidation process itself may take a while. If some of the rumours about moving property around have substance, the liquidator could be very busy. IIRC, the Airdrie one took years.

[Col2]

Would assume liquidators appoint bailiffs and doors are closed immediately, staff sent home etc.

On another point, if Vlad has the cash and confidence amongst the yams is high the bill will be paid, why hasn't he just paid it? Surely can't be to squeeze every penny out of the fans first? Even I think that's a disgrace!!

[HoboHarry]

This quote is hidden because you are ignoring this member. Show Quote

A liquidator will be appointed, possibly that same day.

The liquidation process itself may take a while. If some of the rumours about moving property around have substance, the liquidator could be very busy. IIRC, the Airdrie one took years.

But as a football club, will the doors close immediately?

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

Apologies if this has been asked before, but if they fail to pay the bill on Thursday, what will the process be after that? How long will it take to liquidate them?

Presumably they would argue in court that they should be given more time. The judge would then have to decide whether to grant the petition, appointing a provisional liquidator, or to allow them an additional period.

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

But as a football club, will the doors close immediately?

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

[HoboHarry]

This quote is hidden because you are ignoring this member. Show Quote

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

Fair enough, thank you. Don't begin to understand all this stuff.

[jacomo]

This quote is hidden because you are ignoring this member. Show Quote

Would assume liquidators appoint bailiffs and doors are closed immediately, staff sent home etc.

On another point, if Vlad has the cash and confidence amongst the yams is high the bill will be paid, why hasn't he just paid it? Surely can't be to squeeze every penny out of the fans first? Even I think that's a disgrace!!

To be fair, this happens very rarely with football clubs, doesn't it?

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

If the tickets are sold, the cash has already been squeezed, no?

[jgl07]

This quote is hidden because you are ignoring this member. Show Quote

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

Will the Police and security company provide cover without the prospect of being paid? If not then the match could not take place.

What happens if they run out of cards for the electricity meter at half time?

The who question is if Romanov will not pay or is unable to pay?

[s.a.m]

Regardless of what happens with any liquidation process, would be allowed to continue in the league if they were liquidated?

[PatHead]

This quote is hidden because you are ignoring this member. Show Quote

But as a football club, will the doors close immediately?

Lets hope so and its



followed by



until

[Mikey]

What's happening with the money they're raising? Is it just being piled into share purchases?

It would be funny as fek if they raised enough to pay the bill, gave it to Vlad, and he did a runner with it

[PatHead]

This quote is hidden because you are ignoring this member. Show Quote

Regardless of what happens with any liquidation process, would be allowed to continue in the league if they were liquidated?

Can't see how, they wouldn't be trading.

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

If the tickets are sold, the cash has already been squeezed, no?

I would wager that there would be an extra few thousand on the gate if they thought it was the very last game at Tynie.

Then there's the souvenir Vlad masks and plastic submarines that will be on sale.....

[Seveno]

It really concerns me that barns will go without Christmas parents as their Yam parents pour their money into the PBS money pit. I think that we should raise money to buy them presents in the true Christian spirit.


And just think of the timely revenue boost for the Hibs shop.

[Phil D. Rolls]

This quote is hidden because you are ignoring this member. Show Quote

What's happening with the money they're raising? Is it just being piled into share purchases?

It would be funny as fek if they raised enough to pay the bill, gave it to Vlad, and he did a runner with it

Can't see Mr. Romanov doing that.

This just in, 1984 The Director's Cut, by George Orwell

Some of the animals had noticed that the man supposed to be rescuing them drove a car marked Vilnius Taxi Company,’ and had actually jumped to the conclusion their money was being sent to the Lithuania It was almost unbelievable, said Shaun Lawson, that any animal could be so stupid.

Surely, he cried indignantly, whisking his tail and skipping from side to side, surely they knew their beloved Leader, Comrade Romanov, better than that? But the explanation was really very simple. The car had previously been the property of Vilnius Taxi Company, and had been bought by Save Our Hearts, who had not yet painted the old name out. That was how the mistake had arisen.

The animals were enormously relieved to hear this. And when Lawson went on to give further graphic details of the Jambos death-bed, the admirable care they had received, and the expensive tax lawyers for which Romanov had paid without a thought as to the cost, their last doubts disappeared and the sorrow that they felt for their club's death was tempered by the thought that at least it had died as the Big Team.

[7062]

When are their next lot of wages due? Is it Friday?

[Mikey]

This quote is hidden because you are ignoring this member. Show Quote

When are their next lot of wages due? Is it Friday?

Yep.

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

I would wager that there would be an extra few thousand on the gate if they thought it was the very last game at Tynie.

Then there's the souvenir Vlad masks and plastic submarines that will be on sale.....

There will be, but they're buying the tickets up front. According to kickback, only 600 left plus 2 sections of the Roseburn still closed/kept for away support.

[7062]

This quote is hidden because you are ignoring this member. Show Quote

Yep.

Would i be correct to assume that all funds will probably be diverted to pay the £450k due to the revenue should the fans/ex players/kids selling bikes not stump up enough in the next few days and that there's therefore a good chance wages will not be paid on time again? Hope I am!

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

What's happening with the money they're raising? Is it just being piled into share purchases?

It would be funny as fek if they raised enough to pay the bill, gave it to Vlad, and he did a runner with it

I suspect a lot of the money they've "raised" is actually just ticket sales.

[Mikey]

This quote is hidden because you are ignoring this member. Show Quote

Would i be correct to assume that all funds will probably be diverted to pay the £450k due to the revenue should the fans/ex players/kids selling bikes not stump up enough in the next few days and that there's therefore a good chance wages will not be paid on time again? Hope I am!

If they've got £450k they'll pay it but I doubt they have, even if they do hold back the wages. I don't see how they can pay either without Vlad pouring more money down the drain.

This quote is hidden because you are ignoring this member. Show Quote

I suspect a lot of the money they've "raised" is actually just ticket sales.

Gotcha. That goes into one of the suitcases then

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

There will be, but they're buying the tickets up front. According to kickback, only 600 left plus 2 sections of the Roseburn still closed/kept for away support.

Ah ok, hadn't realised that.

In that case, there would be no point in having the game if the liquidator is appointed on Thursday or Friday. If it were Monday, that would be a different story.

Oh.... that would mean that all those who had paid for tickets would join the list of creditors........

[matty_f]

This quote is hidden because you are ignoring this member. Show Quote

If they've got £450k they'll pay it but I doubt they have, even if they do hold back the wages. I don't see how they can pay either without Vlad pouring more money down the drain.

Their wages won't be an issue (yet) this week if players and staff are happy enough (or at least willing enough ) to defer the payments, though they will expect to be paid that money at some point, so again they're just robbing Peter to pay Paul.

[Mikey]

This quote is hidden because you are ignoring this member. Show Quote

Their wages won't be an issue (yet) this week if players and staff are happy enough (or at least willing enough ) to defer the payments, though they will expect to be paid that money at some point, so again they're just robbing Peter to pay Paul.

There's a bit on the PM board about deferring the wages and why they can't!

Well, not under the rules anyway.

[matty_f]

This quote is hidden because you are ignoring this member. Show Quote

There's a bit on the PM board about deferring the wages and why they can't!

Well, not under the rules anyway.

Splendid!