Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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So is this a new developement and is it serious?

It's not the football club.

I am not sure what the purpose of this company is/was. I haven't seen the accounts, but looking at what is posted on that site about its parent and subsidiary companies, I am guessing that there was a property-related intention.

[Ryan91]

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Replying to my own post is bad form, I know, but curiosity got the better of me with this deficit of £ 2.7 Billion, so I looked up the accounts on Companies House Web-site and it is an error by www.duedil.com. The debt is actually £2.7 million.

I thought Vlad had been trying to load the Lithuanian National Debt onto the Yams to get himself elected.

Still, it is an extra £ 2.7 million Vlad has blown on his Yam adventure that I don't think it is noted as part of the Football Club debt.

Anyone else noticing that Fedetovas was (possibly still is) a director of a company called Blue Orchid Flats Ltd?


Possible subliminal message there?

[The Falcon]

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The share capital is what has been paid in by shareholders to finance the running of the company. It also includes that part of the debt to UBIG/UKIO that was converted to shares over the past couple of years. It will almost certainly never be repaid.

By contrast, Hibs' share capital would be repaid in the event of our winding-up. We have sufficient assets to enable us to pay off all our debts, and to leave plenty to return to the shareholders.

So does this mean that £147m, in actual pounds, is the total cost of financing the shambles that is Hearts???

[Caversham Green]

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It's not the football club.

I am not sure what the purpose of this company is/was. I haven't seen the accounts, but looking at what is posted on that site about its parent and subsidiary companies, I am guessing that there was a property-related intention.

It was actually the holding company created by Vlad/UBIG to own the football club - similar to HFC Holdings Ltd with Hibs. The accounts were group accounts including HoMFC's results so I suspect the £2.7m that greenginger's talking about is just an echo of the yams' losses/debt. For some reason Mr Romanov changed his strategy and moved the shares into a direct holding by UBIG - probably because the complete worthlessness of the club made a holding company superfluous. Since then the company has languished and the dissolution is probably no big deal.

Changing the Articles does seem very odd though - I might look a bit further into that one.

[Caversham Green]

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So does this mean that £147m, in actual pounds, is the total cost of financing the shambles that is Hearts???

Not really. Some of the shareholding is historical, dating back to when the company was first incorporated and there may well have been other share issues over the years. Also, the shares have a nominal value of 10p each which makes 147m shares £14.7m in capital value. There's also a share premium of £11.6m making the total capital issue £26.3m. That will of course increase as a result of the recent share issue scam if the current year's accounts are ever produced.

[StevieC]

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Not really. Some of the shareholding is historical, dating back to when the company was first incorporated and there may well have been other share issues over the years. Also, the shares have a nominal value of 10p each which makes 147m shares £14.7m in capital value. There's also a share premium of £11.6m making the total capital issue £26.3m. That will of course increase as a result of the recent share issue scam if the current year's accounts are ever produced.

I remember that Newcastle United, under Fat Freddy and the Hall family, used to pay quite a large dividend on shares despite the club not actually making a profit. I used to get a couple of quid back each year but Freddy Shepherd and the Halls were getting a couple of million.
Has "share dividends" been used by Vlad as another way of getting personal cash out of the club?

[Caversham Green]

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I remember that Newcastle United, under Fat Freddy and the Hall family, used to pay quite a large dividend on shares despite the club not actually making a profit. I used to get a couple of quid back each year but Freddy Shepherd and the Halls were getting a couple of million.
Has "share dividends" been used by Vlad as another way of getting personal cash out of the club?

No, there are a lot of minority yam shareholders and they would have had to get a dividend as well like you with the barcodes. HoMFC been concentrating on taking money from the fams rather than giving it to them. Vlad/UBIG really have sunk ahuge amount of money into the club with no chance of getting it back. He won't (or can't) be doing that any more.

[NYHibby]

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For some reason Mr Romanov changed his strategy and moved the shares into a direct holding by UBIG - probably because the complete worthlessness of the club made a holding company superfluous. Since then the company has languished and the dissolution is probably no big deal..

I believe the debt to equity swaps played a role in this. As the debt was held by UBIG, they were the beneficiary of the swaps. This also diluted the value of 2005's initial holding.

[Caversham Green]

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I believe the debt to equity swaps played a role in this. As the debt was held by UBIG, they were the beneficiary of the swaps. This also diluted the value of 2005's initial holding.

UBIG appears to own the single share in HoMFC 2005 Ltd so they could have sorted out the DfE swaps and still retained ownership of the club by using intra-group tranfers. HoMFC 2005 Ltd no longer has any significant shareholding in the club, so they must have transferred that to UBIG.

It looks to me like there was a change of plan quite early on in the process of wrecking the yams.

[greenginger]

Big Zal tempted by Young Boys ( of Berne )

http://www.dailyrecord.co.uk/sport/f...liukas-1570081

How totally Yamish is that !

[green glory]

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Big Zal tempted by Young Boys ( of Berne )

http://www.dailyrecord.co.uk/sport/f...liukas-1570081

How totally Yamish is that !

Hearts, back door and Young Boys.

Nothing to see here.

[#FromTheCapital]

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Big Zal tempted by Young Boys ( of Berne )

http://www.dailyrecord.co.uk/sport/f...liukas-1570081

How totally Yamish is that !

"WITH the transfer market in Switzerland still open Tynecastle manager John McGlynn is worried his skipper could be lured away by Young Boys of Berne."

McGlynn should be more concerned that Young Boys aren't lured away by Zaliukas

[PatHead]

If the stories on Kickback are to be believed this sale could be the difference between Hearts paying the wages in February and not managing. Hoipe he stays.

[steviehibsleith]

Sure i read that the Young boys scout confirmed there was interest in big fud but also stated that his remit was to get a central defender for the summer so why would they pay a fee when free in 5 months. Im guessing its yam media desperately trying to offload now from wagebill and trying to recoup a small fee as well.

[Ozyhibby]

Hope he stays. They are very much still in the brown stuff despite reaching the league cup final.

[jgl07]

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No, there are a lot of minority yam shareholders and they would have had to get a dividend as well like you with the barcodes. HoMFC been concentrating on taking money from the fams rather than giving it to them. Vlad/UBIG really have sunk a huge amount of money into the club with no chance of getting it back. He won't (or can't) be doing that any more.

Was calling them fams deliberate? As per Yam fams?

Either way it could stick!

[fatbloke]

http://www.nasdaqomxbaltic.com/marke...0102352&list=2

Down 4.42% in one day is this good business

[#FromTheCapital]

Looks like the shares are back to where they were before they had a slight rise last month. Hopefully they hit rock bottom soon

[SHODAN]

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Hope he stays. They are very much still in the brown stuff despite reaching the league cup final.

Hope he goes, then they'll have less of a chance of winning the League Cup Final?

[Saorsa]

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Hope he goes, then they'll have less of a chance of winning the League Cup Final?

Is he no suspended? Hope he stays mair chance of them going doon the pan.

[Big_Franck]

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Hope he goes, then they'll have less of a chance of winning the League Cup Final?

The big phanny is suspended for the final anyway. Hope he stays and continues to take a king's ransom in wages until the summer.

[#FromTheCapital]

Il be glad to see the back of that rodent when he does leave but like others I would prefer if he stayed until the summer and kept taking his huge wages for the remainder of his contract.
People have often asked how hearts seem to get players that seem to love the club and play for the jersey, its obvious that its because of the huge wages that they're paid which they don't deserve and wouldn't be matched at any other club.

[Ozyhibby]

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Il be glad to see the back of that rodent when he does leave but like others I would prefer if he stayed until the summer and kept taking his huge wages for the remainder of his contract.
People have often asked how hearts seem to get players that seem to love the club and play for the jersey, its obvious that its because of the huge wages that they're paid which they don't deserve and wouldn't be matched at any other club.

Exactly. Even I would would love Hearts if they were paying me the money they pay Zaliukas. He is a championship player on premiership wages.

[number 27]

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Is he no suspended? Hope he stays mair chance of them going doon the pan.

He is officially suspended but it seems suspensions don't apply to Hertz players in league cup games.

[Leithenhibby]

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http://www.nasdaqomxbaltic.com/marke...0102352&list=2

Down 4.42% in one day is this good business

I look out for this one almost every day

-68.4% over three years must mean that the bank may pop first!......

[greenginger]

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I look out for this one almost every day

-68.4% over three years must mean that the bank may pop first!......

The Bank won't go pop, it will be merged into Siauliu Bankas which is controlled by the European Central Bank.

http://www.bloomberg.com/news/2012-1...as-shares.html

Vlad will have the option of taking a few million compensation and moving over or his bank being folded.

There will be no place for Vlad or family after the merger. At least that's the way it played out with some troubled Spanish Bank a few months ago.

[Leithenhibby]

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The Bank won't go pop, it will be merged into Siauliu Bankas which is controlled by the European Central Bank.

http://www.bloomberg.com/news/2012-1...as-shares.html

Vlad will have the option of taking a few million compensation and moving over or his bank being folded.

There will be no place for Vlad or family after the merger. At least that's the way it played out with some troubled Spanish Bank a few months ago.

That's fair enough, but it's all bad news for HoMFC if they think that the mad one will bail them out, or even give them a sub. No pun intended (I know, it's already been done to death)

Why no place for the "Romanov Dynasty"? how would he be edged out?

[greenginger]

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That's fair enough, but it's all bad news for HoMFC if they think that the mad one will bail them out, or even give them a sub. No pun intended (I know, it's already been done to death)

Why no place for the "Romanov Dynasty"? how would he be edged out?

If its going to cost the European Central Bank a good few million to cover Ukio's bad debts they are hardly going to give jobs to the people responsible for historic bad business practice.

Did Fred Goodwin keep his job ?

He gets edged out because without the merger or other support the bank will sink. The bank can't borrow, it has no rating, so he has to take whatever is offered or get nothing in a liquidation.

[rcarter1]

I have read this thread now and again with great interest, but regularly find myself tied in knots over assets, liabilities, loans, remortgages, share issues and god knows what else....

So my simplistic take on the situation, having read this and other discussions and having mulled for about 5 years.

UKIO bank goes bust, Vlad gets pennies in a forced sale of assets.

Defeated, and with no more money (or interest) to put into football, he then sells Hearts.

Outcome 1: accepts low offer for club, stadium and assets from 'fans' group or whoever - leaving Vlad with a few more pennies and Hearts with a clean slate. Poor outcome financially for Vlad, Great For Hearts - ie BAD.

Option 2: sells Tynecastle and whatever other assets he has to highest bidder, and the football club needs to start afresh (In third division?? with a pokey wee stadium built from cake sales?). OK for VLAD (who then retires to a villa looking over the baltic sea). REALLY BAD for Hearts - ie GOOD!

Does this sum up where we stand?
Is there any informed opinion as to whether we will see Option 1 or 2 (or is there a middle ground?).

Sincerely,

Schadenfreude

[Leithenhibby]

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If its going to cost the European Central Bank a good few million to cover Ukio's bad debts they are hardly going to give jobs to the people responsible for historic bad business practice.

Did Fred Goodwin keep his job ?

He gets edged out because without the merger or other support the bank will sink. The bank can't borrow, it has no rating, so he has to take whatever is offered or get nothing in a liquidation.

Excellent..............