Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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They where paid last months wages last week.

It seems ironically the Scottish cup tie amoungst various other begging missions has saved them this month.

They have a PAYE payment due on the 22nd.

[CropleyWasGod]

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they'll be in trouble next moth though, no much income before the 16th.

VAT due, I believe, on the 7th.

PAYE due on December's wages and, if they have been paid, the deferred November wages, on the 22nd.

[Leithenhibby]

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From todays online version of the Evening news which is slightly different.




http://www.scotsman.com/sport/footba...isis-1-2691243

Or could it be that the online version has not been updated yet?

Still not confirmed though!!.... as stated in the second paragraph

[Mikey]

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Still not confirmed though!!.... as stated in the second paragraph

[Kato]

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Still not confirmed though!!.... as stated in the second paragraph

That article was published yesterday.

I think there is far more wriggling to be done by the Jambos yet. They'll sign Vlad's latest find, they may even re-sign Ruddy. However a steady decline awaits them. I doubt things are going to come to a sudden halt for them. Despite predictions UBIG are still around, UKIO BANKO KIRKUS are still in business and HoMOFC are still full-filling fixtures.

Suits me as I want a steady decline with the opportunity to hammer them a few times. The idea that all of a sudden they are going to enter liquidation seems a bit over the top considering they have become such expert wrigglers.

[Jack Hackett]

Now confirmed...apparently

http://www.scotsman.com/sport/footba...yers-1-2693855

[Leithenhibby]

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That article was published yesterday.

I think there is far more wriggling to be done by the Jambos yet. They'll sign Vlad's latest find, they may even re-sign Ruddy. However a steady decline awaits them. I doubt things are going to come to a sudden halt for them. Despite predictions UBIG are still around, UKIO BANKO KIRKUS are still in business and HoMOFC are still full-filling fixtures.

Suits me as I want a steady decline with the opportunity to hammer them a few times. The idea that all of a sudden they are going to enter liquidation seems a bit over the top considering they have become such expert wrigglers.

I agree, as the foundations of Vlad's empire start to show signs of cracking "easy as she goes"....

With very little cash in Jan it will be interesting to see how they will keep wriggling as they have.

http://www.scotsman.com/edinburgh-ev...yers-1-2693855

[monktonharp]

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Now confirmed...apparently

http://www.scotsman.com/sport/footba...yers-1-2693855

I dont really get that. it says they have been paid for december, and yet it also says that the players were brought up to date, re-the deffered wages?!! have they been paid for november? or just brought up to date? still somethin' fishy gaun oan imho.

[BarneyK]

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I dont really get that. it says they have been paid for december, and yet it also says that the players were brought up to date, re-the deffered wages?!! have they been paid for november? or just brought up to date? still somethin' fishy gaun oan imho.

It suggests that the November and December wages have now been paid in full. Not sure if they are including the Cup Final bonuses in there as well. That said, January is looking like a hell of a month for them if they cannae sell a shedload more shares to keep them going. And players will have to be emptied whether they want to see them go or not IMO.

[Moulin Yarns]

#bbcsportsound reporting Fester as saying they will be paid on Sunday. ???

[Leithenhibby]

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#bbcsportsound reporting Fester as saying they will be paid on Sunday. ???

Love it.....

[Hibrandenburg]

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There are certainly strong indications that UBIG are struggling badly (falling share prices, failing to pay employees etc) and this debt reassigment looks like another indicator. Assuming it wasn't done just to get us Hobos all excited, the form tells us that UBIG owe Ukio at least £6.8m and that there are doubts about UBIG's ability to pay.

If it was instigated by the Lith financial regulator as greenginger suggests he would just have been looking for security on a viable asset. On that basis, if the best security they could produce was a dodgy debt due by a struggling wee Scottish football club then they really are in sheep dip. Of course, if UBIG goes under HoMFC will be liquidated.

On the other hand if it was Ukio (i.e. 'Mr Romanov') that instigated it the implications could be more sinister for the yams. It could suggest that when (rather than 'if') HoMFC goes into liquidation he wants that £6.8m paid and doesn't expect UBIG to pass it on - possibly because they wouldn't be in a position to. The timing of the reassignment, together with the specific inclusion of uncalled capital in the assets would indicate that he was seriously contemplating this course of action during or very shortly after the share offer period.

If Ubig are able to sell their majority shareholding in the club the reassignment tells us that they will either have to leave a portion of debt in place or realise at least £6.8m from the sale so that they can pay off the Ukio debt.

"He's never stopped being the greatest owner" right enough.

Don't stop now, keep writing, I'm nearly there.

[Spike Mandela]

So have they been paid, the announcements have all been a bit muted and low key compared to previous triumphal pay days?

[CropleyWasGod]

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So have they been paid, the announcements have all been a bit muted and low key compared to previous triumphal pay days?

I saw Ryan Stevenson's missus in Poundstretcher this morning, so I'd assume so.

[Johnny-Hibees]

I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

[cocopops1875]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Yeah im having sleepless nights about it well i would have if i wasnt so hard at them over the road

[Mikey]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

I say that if you don't like it don't read it.

[CropleyWasGod]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

The difference is, we actually are addressing it, appropriately and timeously. It will be sorted, one way or another.

Neither of these statements can be applied to Johnny Jamtart, Johnny.

[Ozyhibby]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

[#FromTheCapital]

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Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

Nail on the head. My thoughts exactly

[Cameron1875]

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Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

Couldn't have put it any better .

[RickyS]

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Sorry, not for me. There needs to be a price paid for that horrible day in may.
Right now, they have a great story to tell about how they beat their greatest rivals 5-1 in a cup final. That story changes totally if that expensively assembled team (£8m a year in wages) becomes the reason they went bust.
The story changes from triumph to the tale of Icarus.
So forgive me if I appear petty and vindictive, its because I am.
Lets hope they die soon.

well said that man

[Hibeesforever]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Good post. I worry about this small long-term debt as well. Self funding a £4 million training complex and also a 20k all seated capacity UEFA compliant football stadium has been risky but suppose it sits with the Hibs tradition of being innovative, planning for the future and of being the first to do things on behalf of Scotland.
You might know more about this than me Johnny Jambo but I was thinking that if all the speculation was correct and that Edinburgh City Council were potentially contemplating building a state-of-the art £60 million stadium, beside a brand new Tram stop on the West of Edinburgh, to help alleviate some small cash-flow problems that their current owner is having, perhaps in the interests of equity and sporting fairness, Hibernian Football Club could lobby the City Council at the same time for say a mere half of this sum in order to pay off our stadium debt ?

What do you think ? Compromise, Hearts would get the use of a brand new football / rugby Stadium and both Clubs would be debt free. Only difference of course would be Hibs would own their ground/ training complex and have a small amount of cash in the bank.

There, issue addressed.
Lets carry on watching the Yam soap opera, the comedy has just started, their bake tins and bank accounts are running dry.
A week is a long time in the world of Hearts International finance.

[HibbiesandtheBaddies]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

Don't worry about that, the majority of the debt is in the form of mortgages on the stands.
It's not as if the bank can just come along and say "pay up the debt in full before the agreed due date", now is it?

The rest of the debt will be helped along by a nice wee run in the Scottish Cup though, eh?

[greenginger]

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Don't worry about that, the majority of the debt is in the form of mortgages on the stands.
It's not as if the bank can just come along and say "pay up the debt in full before the agreed due date", now is it?

The rest of the debt will be helped along by a nice wee run in the Scottish Cup though, eh?

Another point to bear in mind is that almost £ 450,000 of the losses recorded last year comprised the depreciation of fixed assets. The stands, company cars etc are worth less every year and this reduction has to be shown in the accounts. It is not exactly spending money you hav'nt got and running up a huge overdraft.

The losses recorded will come in useful if the Academy starts producing a Messi or Ronaldo every other year.

[basehibby]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

The reality is that Hibs generally run at an operating loss of £1M a year EVERY year (which is very far from shocking in the context of the SPL) - and it probably would have been c £2M last year without the SC Final. Most years that shortfall has been made up or turned into profit by player sales but unsurprisingly noone wanted to buy any of our relegation strugglers last season.

So, the only way to improve Hibs' finances is by getting yer ass along to ER regularly and persuading yer mates to do the same - it's that simple! An extra 2K or so average on the gates would wipe out that operating loss and everything in our garden would then be rosy with all cash from player sales going straight back into the manager's kity (no asbestos pink bus shelters to replace this end of town)

Quite apart from that, I see nothing at all wrong with extracting the urine from our city neighbours about their GENUINELY perilous finances. They have been consistently racking up VAST debts year in year out for short term gain and have never tired of rubbing it in when their profligacy has resulted in their getting the upper hand in derbys. The end result is they are now getting the begging bowl out on a regular basis, and like some washed up jakey who has pished his life up the wall through his own wanton excess, they deserve little in the way of sympathy.

Hibs' finances by contrast are stable and well managed and it is my not unrealistic hope that this will soon result in a massive turnaround in Edinburgh Derby fortunes and that the recent SC victory for Hibs at ER will be the start of a long period of dominance for the Hibs over the jakey-begging-bowl-yams (assuming they last long enough for that to happen;o).

[Jim44]

I 'm trying to find a word which upstages 'miraculous', the term used by Slobbo to describe the less than 50% per cent take up of the Jambo share offer. What word would he have used to describe a successful campaign? Spin's a funny old thing.

[Caversham Green]

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I say we stop concentrating on the yams finances, I don't care what happens to them, whether they survive or not, doesn't matter to me. I say we focus more on our own shocking finances where we have recently lost £1 million in the last year taking our total to £6 million. This needs to be addressed and sorted ASAP

To echo what others have said, you shouldn't worry too much about Hibs' accounts. Our debt figure is falling year on year (down £600k in 2012) and we have a million in the bank. Our board have stated that the club runs a breakeven policy and the losses over the last two years have just mopped up some of the profits made over the previous seven years - in which time we've also made massive improvements to our infrastructure that will carry us forward for many years to come. We do need to halt the loss-making trend, but the future of Hibernian Football Club is secure for the foreseeable future.

That's the direct opposite of HoMFC, which is why we find their problems so interesting and amusing.

[McD]

But have they been paid yet?

[jacomo]

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The reality is that Hibs generally run at an operating loss of £1M a year EVERY year (which is very far from shocking in the context of the SPL) - and it probably would have been c £2M last year without the SC Final. Most years that shortfall has been made up or turned into profit by player sales but unsurprisingly noone wanted to buy any of our relegation strugglers last season.

So, the only way to improve Hibs' finances is by getting yer ass along to ER regularly and persuading yer mates to do the same - it's that simple! An extra 2K or so average on the gates would wipe out that operating loss and everything in our garden would then be rosy with all cash from player sales going straight back into the manager's kity (no asbestos pink bus shelters to replace this end of town)

Quite apart from that, I see nothing at all wrong with extracting the urine from our city neighbours about their GENUINELY perilous finances. They have been consistently racking up VAST debts year in year out for short term gain and have never tired of rubbing it in when their profligacy has resulted in their getting the upper hand in derbys. The end result is they are now getting the begging bowl out on a regular basis, and like some washed up jakey who has pished his life up the wall through his own wanton excess, they deserve little in the way of sympathy.

Hibs' finances by contrast are stable and well managed and it is my not unrealistic hope that this will soon result in a massive turnaround in Edinburgh Derby fortunes and that the recent SC victory for Hibs at ER will be the start of a long period of dominance for the Hibs over the jakey-begging-bowl-yams (assuming they last long enough for that to happen;o).

Er, I think your poster might have been to ER on Sunday 2nd Dec but is unlikely to be a regular visitor...

Nice to know a few Yams are following this thread, mind - they'll get a lot more sense here than anywhere in Hearts land.