Share Transfers Agreed/Cooling off period

[Sergey]

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I'm sure someone was keeping Share issue ready cash in a suitcase just before Christmas.

Those will be the new shares that have yet to be lodged at Companies House?

It looks like Vlad's parting gift was to rob the fans of circa £1,000,000 in cash

[blackpoolhibs]

I can't understand why the bank did not just bake a few cakes, that normally works for companies in trouble?

[JeMeSouviens]

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UBIG transferred 6.5M squids worth of their security over Tynie to UKIO a few weeks ago.

Ooh, I missed that.

[Hibee87]

Not 100% sure but did the big huns not go into admin on valentines day last year? wonder if we'll have a repeat in 2 days time

[MacBean]

NASDAQ announcement link for anyone who is interested:

https://newsclient.omxgroup.com/cdsP...ssageId=666870

Link for above copied statement:
http://www.finanznachrichten.de/nach...ointed-252.htm

Interestingly they are the most active in the NASDAQ shares trades. Volume of 86 trades, nearest if 47.

http://www.nasdaqomxbaltic.com/market/?lang=en

[Lix]

Ooh .... Fraud probe started now!

covers the period 2005/2012.

wonder if our pink chums will be involved?

[MacBean]

V. Vasiliauskas: The priority of the Bank of Lithuania—continuity of the banking operations of Ūkio bankas

Vilnius, Lithuania, 2013-02-12 12:48 CET (GLOBE NEWSWIRE) -- The Board of the Bank of Lithuania considers its highest priority the restructuring of Ūkio bankas that would best guarantee further fulfilling of obligations to its clients, and would have the least influence on public finances. Such a provision was given to the temporary bank administrator, who has been ordered to assess, in no more than six days, the possibilities and means to restore the bank’s activities
“A lot will depend on the actual financial standing of the bank, which will be registered by the administrator and the auditors who inspect the bank, but our priority is clear—continuity of the operation of the bank in fulfilling obligations to its clients and ensuring that the restructuring would be the most effective, rational and cheapest means for the state in solving the problem,” said Vitas Vasiliauskas, the Chairman of the Board of the Bank of Lithuania, after a meeting with the temporary administrator of Ūkio bankas.
The Laws of the Republic of Lithuania lay down plenty of means to strengthen the stability of the financial system. The Republic of Lithuania Law on Financial Sustainability and the Law on Banks provide possibilities for the banks to render government guarantees, to transfer the problematic bank’s assets and obligations to another bank operating in Lithuania. The latter measure was adopted on 17 November 2011, when the Seimas approved the appropriate amendments to the Republic of Lithuania Law on Banks.
In order to find the fastest way of solving this problem, the Bank of Lithuania intends to immediately begin consultations with other banks regarding their participation in the restructuring of Ūkio bankas.
Transferring of obligations and assets to another bank will be implemented if the administrator’s detailed analysis will show that such means of restructuring are the most economical and rational.
On 12 February the Board of the Bank of Lithuania authorised Adomas Audickas, the temporary administrator, to examine and assess the financial standing of Ūkio bankas, the possible means of re-establishing the stability and reliability of the operation of the bank, and solutions to the bank’s problems. The Bank of Lithuania must be presented with a conclusion and proposals, along with interim financial statements from the assessment of the financial standing. The conclusion and proposals, inter alia, must provide a comparative feasibility analysis, the likely expenses and benefits of the possible means of re-establishing the stability and reliability of the operation of the bank and the effective implementation of solutions for solving the bank's other problems.
The Bank of Lithuania has indicated that the administrator’s conclusions on the re-establishment of the operation of Ūkio bankas must be presented within six days of being appointed. Taking into account the need to find a solution to the problem of Ūkio bankas in the most operative way, the Board of the Bank of Lithuania today called for the temporary administrator to present his conclusions and proposals as soon as possible.
The Bank of Lithuania
Public Relations Division

NASDAQ OMX
Baltic Market
Issuer Services
+370 5 272 1705
www.nasdaqomxbaltic.com

[MacBean]

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V. Vasiliauskas: The priority of the Bank of Lithuania—continuity of the banking operations of Ūkio bankas

Vilnius, Lithuania, 2013-02-12 12:48 CET (GLOBE NEWSWIRE) -- The Board of the Bank of Lithuania considers its highest priority the restructuring of Ūkio bankas that would best guarantee further fulfilling of obligations to its clients, and would have the least influence on public finances. Such a provision was given to the temporary bank administrator, who has been ordered to assess, in no more than six days, the possibilities and means to restore the bank’s activities
“A lot will depend on the actual financial standing of the bank, which will be registered by the administrator and the auditors who inspect the bank, but our priority is clear—continuity of the operation of the bank in fulfilling obligations to its clients and ensuring that the restructuring would be the most effective, rational and cheapest means for the state in solving the problem,” said Vitas Vasiliauskas, the Chairman of the Board of the Bank of Lithuania, after a meeting with the temporary administrator of Ūkio bankas.
The Laws of the Republic of Lithuania lay down plenty of means to strengthen the stability of the financial system. The Republic of Lithuania Law on Financial Sustainability and the Law on Banks provide possibilities for the banks to render government guarantees, to transfer the problematic bank’s assets and obligations to another bank operating in Lithuania. The latter measure was adopted on 17 November 2011, when the Seimas approved the appropriate amendments to the Republic of Lithuania Law on Banks.
In order to find the fastest way of solving this problem, the Bank of Lithuania intends to immediately begin consultations with other banks regarding their participation in the restructuring of Ūkio bankas.
Transferring of obligations and assets to another bank will be implemented if the administrator’s detailed analysis will show that such means of restructuring are the most economical and rational.
On 12 February the Board of the Bank of Lithuania authorised Adomas Audickas, the temporary administrator, to examine and assess the financial standing of Ūkio bankas, the possible means of re-establishing the stability and reliability of the operation of the bank, and solutions to the bank’s problems. The Bank of Lithuania must be presented with a conclusion and proposals, along with interim financial statements from the assessment of the financial standing. The conclusion and proposals, inter alia, must provide a comparative feasibility analysis, the likely expenses and benefits of the possible means of re-establishing the stability and reliability of the operation of the bank and the effective implementation of solutions for solving the bank's other problems.
The Bank of Lithuania has indicated that the administrator’s conclusions on the re-establishment of the operation of Ūkio bankas must be presented within six days of being appointed. Taking into account the need to find a solution to the problem of Ūkio bankas in the most operative way, the Board of the Bank of Lithuania today called for the temporary administrator to present his conclusions and proposals as soon as possible.
The Bank of Lithuania
Public Relations Division

NASDAQ OMX
Baltic Market
Issuer Services
+370 5 272 1705
www.nasdaqomxbaltic.com

Bit in bold is what got me...

[EdinMike]

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Not 100% sure but did the big huns not go into admin on valentines day last year? wonder if we'll have a repeat in 2 days time

Beat me to it

[Mikey]

It could be that the small businesses around Edinburgh and the Lothians that have been waiting patiently for their money have missed the boat now. I wonder if we'll see a run of claims just so they have something legal to fall back on.

The big winners here will be Blacklocks

[Baldy Foghorn]

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I can't understand why the bank did not just bake a few cakes, that normally works for companies in trouble?

[Sergey]

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It could be that the small businesses around Edinburgh and the Lothians that have been waiting patiently for their money have missed the boat now. I wonder if we'll see a run of claims just so they have something legal to fall back on.

The big winners here will be Blacklocks

Mikey - I can't see any way how the yams can avoid administration now, as the administrator simply isn't going to pump cash into a failing business/black hole. This months wages won't get paid and the winding-up orders will be piling in as I type.

I'm off out to buy some bunting.

[Mikey]

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Mikey - I can't see any way how the yams can avoid administration now, as the administrator simply isn't going to pump cash into a failing business/black hole. This months wages won't get paid and the winding-up orders will be piling in as I type.

I'm off out to buy some bunting.

Just think how much bunting you'll be able to buy when they finish bottom

[Hibercelona]

It seems like great news on the face of it, but won't this just mean that Vlad is under more pressure to get Hertz off his hands?

He may be pressured into doing a deal with the devil.

[DaveF]

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Mikey - I can't see any way how the yams can avoid administration now, as the administrator simply isn't going to pump cash into a failing business/black hole. This months wages won't get paid and the winding-up orders will be piling in as I type.

I'm off out to buy some bunting.

I guess we'll know by Monday if that's happened or not. There is the possibility that UBIG could wire them the money I suppose?

[GreenCastle]

Mapping Hearts' finances: Following the money at the Tynecastle club

http://sport.stv.tv/football/clubs/h...necastle-club/

[Seveno]

It's hard to see how UBIG can survive now as they are surely what the regulator meant by 'risky investments'.

The administrator will need to protect depositors in the first instance and that will mean cashing in on the security over the PBS.

In our efforts to assist the ordinary depositors, we should set up a scheme whereby we pay to be allowed to drive a bulldozer for a day. Does anyone know if Stephen Dalton is a Hibby ?

[cocopops1875]

SloopJB will be along the now wanting FACTS

[Golden Bear]

I'm past caring to be honest.

We've got enough problems of our own and these are the ones that really concern me.

[cabbageandribs1875]

i just cant help but.............

[lord bunberry]

Did I read somewhere that ubig were also in severe financial trouble. If this is the case then the bank going into administration today might be the beginning of the end for the jambos. I get the feeling that the fat lady is clearing her throat

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I'm past caring to be honest.

We've got enough problems of our own and these are the ones that really concern me.

Why did you click on this thread then

[Haymaker]

Been here so many times and always disappointed...

... But maybe, just maybe, this time it is over for the mutants.

[truehibernian]

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I'm past caring to be honest.

We've got enough problems of our own and these are the ones that really concern me.

Agree 100%. Said it before too, Hibs need Hearts and vice versa. What happens over the road happens - I just want a better, stronger Hibs on the park. We concern ourselves too much with that mob - I love beating them simple as that, so want them to survive. Nowt beats going into a working week having beaten Hearts - plus I know two of the younger coaches who are thoroughly decent guys - it's just their fans I find nauseating at times :-)

[Golden Bear]

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Why did you click on this thread then

It's an opinion. I think we're still allowed them.

[One Day Soon]

My question is this - where's that Daffy Duck avatar when you really need it?

[blackpoolhibs]

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I'm past caring to be honest.

We've got enough problems of our own and these are the ones that really concern me.

There are problems, and there are problems? Ours are mere moleholes compared to the much bigger molehills across the city.

[Sergey]

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Did I read somewhere that ubig were also in severe financial trouble. If this is the case then the bank going into administration today might be the beginning of the end for the jambos. I get the feeling that the fat lady is clearing her throat

I posted this link last week (sorry - it's in Lith)

http://verslas.delfi.lt/verslas/ubig....d?id=60596587

The headline reads "UBIG has pledged all its assets"

I don't see them wiring over the Jan/Feb wages for the yams, as they clearly don't have a pot to piss in.

[Seveno]

Over in Yamland, they can't understand the implications but plenty of their 'correspondents' are suggesting a look over here to get the detailed analysis. Pretty certain it is without any sarcasm.

[Craig_in_Prague]

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Did I read somewhere that ubig were also in severe financial trouble. If this is the case then the bank going into administration today might be the beginning of the end for the jambos. I get the feeling that the fat lady is clearing her throat

Do you have any real evidence that robbo is a lady?

TBH on my part, I have never followed closely all the UKIO, UBIG & any other parts of the group, but stick me down in the list that hopes Hearts go tits up and fold. Good riddance to bad rubbish.

[EdinMike]

Jambos on Facebook (Clearly in denial or just ignorant)

"The bank has nothing to do with us, won't affect us"

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