Share Transfers Agreed/Cooling off period

[Bishop Hibee]

Since the official figure cannot be trusted we will probably never know what the real crowd is. FoI request to L and B's finest maybe.

[MrSmith]

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No, the going concern aspect relates to the company's ability to continue trading for the foreseeable future, which is usually considered to be a year from the date of signing the audit report.

That means that if the report was signed yesterday the auditors believe HoMFC will be able to continue trading until 2 May 2014 - subject to any qualifications they make. It's those qualifications that will be interesting (the date of signature may also be relevant).

Thanks for this CG - Makes me feel better knowing how it works, Just seems crazy, in-fact, totally off the wall!

[Mikey]

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Today's announcement that Hearts debt stands at just over £25 million means the real debt is over £47 million as £12m & £10m if debt converted into shares that UBIG held but now a claim against the original UB loan to UBIG. Will the administrator accept £2 million for £47 million of debt?

Nice one. Reckon they'll make that figure stick?

[Keith_M]

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So true. Surprised nobody has mentioned that the ascendancy of the German clubs in the CL has coincided with Hearts financial problems and general decline. Without the thick maroon line of 400,000 to protect us we'll soon be reduced to drinking proper beer instead of Tennents and dressing in Hugo Boss.

Indeed. I took a picture of this German Couple this morning, just after they heard the news of Hearts imminent descent into Administration.

HappyGermans.jpg






In fact, if it wasn't for the valiant organisation known as Hearts, all our women would look like THIS today. Now, I ask you, does anyone REALLY want that to happen?!?!


Trachten_Midi_Dirndl_Serena.jpg

[Caversham Green]

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Thanks for this CG - Makes me feel better knowing how it works, Just seems crazy, in-fact, totally off the wall!

I agree - only the most rabidly optimistic yams are confident that they'll avoid some sort of insolvency, how an auditor can come to that conclusion is beyond me. I'll wait for the report.

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Today's announcement that Hearts debt stands at just over £25 million means the real debt is over £47 million as £12m & £10m if debt converted into shares that UBIG held but now a claim against the original UB loan to UBIG. Will the administrator accept £2 million for £47 million of debt?

The £15m reportedly due to Ukio is interesting. Either HoMFC have racked that up since December - which totally contradicts their self-sufficiency claims - or it has been transferred across from UBIG without advising the prospective shareholders during the share offer period. If it's the latter the sequence of events is:

Directors of UBIG sell £15m of unrecoverable and undersecured debt to the closely-related Ukio Bankas.
Ukio Bankas almost immediately goes 'rupt - the pot for creditors being £15m lighter.
UBIG directors - who are also directors of the debtor company and so had full knowledge of the state of the debt - resign en masse from the UBIG board.
Former UBIG directors, acting on behalf of the debtor company, now try to persuade Ukio's administrator that the £15m debt they sold to Ukio less than six months earlier is now worth only £2m.

Good luck with that last one if the administrator has more than one brain cell.

[danhibees1875]

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Since the official figure cannot be trusted we will probably never know what the real crowd is. FoI request to L and B's finest maybe.

Looked quite big. About 16K probably isn't far off. Big St. Mirren turn-out too. At £5 a ticket I wonder how much extra they actually made than if they'd had fewer bodies at the usual price though.

[Col2]

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Looked quite big. About 16K probably isn't far off. Big St. Mirren turn-out too. At £5 a ticket I wonder how much extra they actually made than if they'd had fewer bodies at the usual price though.

They have 9k season tickets so assume fr this game they would normally get extra 2k max at £20 each on average = £40k

Vs

7k at £5 each = £35k and a few more pies sold

Not much 'profit' there..

[MrSmith]

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They have 9k season tickets so assume fr this game they would normally get extra 2k max at £20 each on average = £40k

Vs

7k at £5 each = £35k

Therefore a loss!

but you would need to include extra matchday merchandise and hospitality to come to a more even figure.

[The Harp]

... a gesture to the fans for their support or a desperate measure calculated to bring in a few more £s than they would have had if they'd charged regular prices ... Hmmm, difficult one.

[green glory]

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... a gesture to the fans for their support or a desperate measure calculated to bring in a few more £s than they would have had if they'd charged regular prices ... Hmmm, difficult one.

A pointless gesture. The Yams will be strutting about with their chests puffed out tonight thinking #allisbarry.

But still the dark shadow of #jambogeddon draws near.

[DaveF]

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They have 9k season tickets so assume fr this game they would normally get extra 2k max at £20 each on average = £40k

Vs

7k at £5 each = £35k and a few more pies sold

Not much 'profit' there..

Maybe not, but it's a small step into getting people back into the habit of attending. Something that the Board of HFC seem to think isn't worth the bother of even trying.

[bingo70]

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but you would need to include extra matchday merchandise and hospitality to come to a more even figure.

Also got to weigh it up against devaluing a season ticket even more, they're already pretty **** value for money, if hibs started making games 5 quid to get in for some games even less folk would sign up for season tickets

[adhibs]

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Maybe not, but it's a small step into getting people back into the habit of attending. Something that the Board of HFC seem to think isn't worth the bother of even trying.

Then you just get the usual moans about season tickets being devalued, as with the recent moans about the raffle. Hard to keep everyone happy when theirs so many miserable folk around

[Ozyhibby]

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Maybe not, but it's a small step into getting people back into the habit of attending. Something that the Board of HFC seem to think isn't worth the bother of even trying.

No point in getting into the habit of going somewhere that's closing soon.

[DaveF]

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Also got to weigh it up against devaluing a season ticket even more, they're already pretty **** value for money, if hibs started making games 5 quid to get in for some games even less folk would sign up for season tickets

I'm not suggesting we do it for every game - far from it, as I'm a ST holder and would not agree with that. However, for meaningless end of season games such as Dundee and St Mirren why not try and do something to fill the empty spaces? There seems to be a distinct lack of imagination when it comes to selling the club to the community.

[greenlex]

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I'm not suggesting we do it for every game - far from it, as I'm a ST holder and would not agree with that. However, for meaningless end of season games such as Dundee and St Mirren why not try and do something to fill the empty spaces? There seems to be a distinct lack of imagination when it comes to selling the club to the community.

I think had we not made the SC Final we would have. The Buddies game we were trying to get bums on seats with the lure of a draw for Cup Final tickets.

[Baldy Foghorn]

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Then you just get the usual moans about season tickets being devalued, as with the recent moans about the raffle. Hard to keep everyone happy when theirs so many miserable folk around

Not so sure there are so many miserable folk around, but it would be foolish to sell ST's, then reduce the attendance price, as it would be detrimental to the people who have stumped up cash up front.......

[Baldy Foghorn]

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I'm not suggesting we do it for every game - far from it, as I'm a ST holder and would not agree with that. However, for meaningless end of season games such as Dundee and St Mirren why not try and do something to fill the empty spaces? There seems to be a distinct lack of imagination when it comes to selling the club to the community.

There are 20,000 going to the Final, some saying there will be some missing out on the Day.....Begs the question where they are on Match Days, because they sure ain't at Easter Road......

[blackpoolhibs]

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Maybe not, but it's a small step into getting people back into the habit of attending. Something that the Board of HFC seem to think isn't worth the bother of even trying.

Not really true is it, we have had numerous cheap deals over the last few seasons to attract fans?

[Baldy Foghorn]

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I think had we not made the SC Final we would have. The Buddies game we were trying to get bums on seats with the lure of a draw for Cup Final tickets.

Indeed, but even with that particular carrot, and a 3pm Saturday home match, the crowd was pish.....

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Not really true is it, we have had numerous cheap deals over the last few seasons to attract fans?

Agree, there have been quite a few games with reduced admission prices, over the last few seasons.....

[blackpoolhibs]

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Agree, there have been quite a few games with reduced admission prices, over the last few seasons.....

All ignored by folk who want to have a pop at the board. The only thing that is guaranteed to bring more folk through the gates, is attractive football. I even think now, folk wouldn't bother if we were scraping 1-0 wins with 1 up front and defending deep hitting teams on the break.

I'd take that in the final though.

[DaveF]

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Not really true is it, we have had numerous cheap deals over the last few seasons to attract fans?

We have, but mainly for league cup ties against lower division opposition, no?

Today was £5 for everyone at Tynecastle and they got 16,300 attending. Clearly not all of them are going to go back but if it sows the seed in just a couple of hundred, those kay go on to become full paying ST holders in the not so distant future.

Sure, it was a gimmick today, but I would argue it was a gimmick worth doing.

[Baldy Foghorn]

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All ignored by folk who want to have a pop at the board. The only thing that is guaranteed to bring more folk through the gates, is attractive football. I even think now, folk wouldn't bother if we were scraping 1-0 wins with 1 up front and defending deep hitting teams on the break.

I'd take that in the final though.

I won't celebrate unless we win 6-1, play super attacking free-flowing football, with at least a hat-trick for sparky.....

[blackpoolhibs]

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We have, but mainly for league cup ties against lower division opposition, no?

Today was £5 for everyone at Tynecastle and they got 16,300 attending. Clearly not all of them are going to go back but if it sows the seed in just a couple of hundred, those kay go on to become full paying ST holders in the not so distant future.

Sure, it was a gimmick today, but I would argue it was a gimmick worth doing.

We have had cheap deals for league games too, in fact there have been some games where you could get in free. You cant get any cheaper than that, £5 seems a bit dear when you consider what we have done.

How many of the free entrants have been back and bought season tickets?

[Billy Whizz]

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We have, but mainly for league cup ties against lower division opposition, no?

Today was £5 for everyone at Tynecastle and they got 16,300 attending. Clearly not all of them are going to go back but if it sows the seed in just a couple of hundred, those kay go on to become full paying ST holders in the not so distant future.

Sure, it was a gimmick today, but I would argue it was a gimmick worth doing.

Seems a good idea for regular non attending fans. Do I get £15 back from Hibs as I probably paid around £20 for a discounted game as part of my season ticket!

[clerriehibs]

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We have, but mainly for league cup ties against lower division opposition, no?

Today was £5 for everyone at Tynecastle and they got 16,300 attending. Clearly not all of them are going to go back but if it sows the seed in just a couple of hundred, those kay go on to become full paying ST holders in the not so distant future.

Sure, it was a gimmick today, but I would argue it was a gimmick worth doing.

well, there's no distant future.

[Waxy]

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There are 20,000 going to the Final, some saying there will be some missing out on the Day.....Begs the question where they are on Match Days, because they sure ain't at Easter Road......

How many times do we hear this? where are they on a saturday? well if 14000 odd tickets are going to 8000 odd season ticket holders,the problem is who are the people who are getting the spare tickets from the season ticket holders?
Season ticket holders shouldnt be moaning about this because they are the ones giving the spare tickets away.

[blackpoolhibs]

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I won't celebrate unless we win 6-1, play super attacking free-flowing football, with at least a hat-trick for sparky.....

I suppose you are right, in fact if we don't do as you say i'm giving up my seat on the open top bus and will just go home a day early.

[Baldy Foghorn]

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I suppose you are right, in fact if we don't do as you say i'm giving up my seat on the open top bus and will just go home a day early.

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How many times do we hear this? where are they on a saturday? well if 14000 odd tickets are going to 8000 odd season ticket holders,the problem is who are the people who are getting the spare tickets from the season ticket holders?
Season ticket holders shouldnt be moaning about this because they are the ones giving the spare tickets away.

Lots, because it remains a hot topic, and won't go away, unless we have a full house every week......Are you suggesting it's the ST holders fault, by using their privileges?? Aye it's the fault of ST holders that we don't have bigger crowds each week

[DaveF]

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We have had cheap deals for league games too, in fact there have been some games where you could get in free. You cant get any cheaper than that, £5 seems a bit dear when you consider what we have done.

How many of the free entrants have been back and bought season tickets?

Free with a full paying adult wasn't it? Not quite the same.

You know fine well your last point in answerable. I wasn't suggesting people attending today because of 1 x £5 game suddenly become a ST holders. It was the longer term effect of making football appealing as an affordable day out I was getting at.

the bottom line is that it seems to have worked. They had an attendance well above average for a game they were favourites to win. Job done all round.