Share Transfers Agreed/Cooling off period

[CropleyisGod]

I'm not sure you've got the right ad, this one from the FT could be it...
http://www.businessesforsale.com/ft/...-For-Sale.aspx

[greengnome]

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I'm not sure you've got the right ad, this one from the FT could be it...
http://www.businessesforsale.com/ft/Well-Established-Bakery-Business-With-Large-Client-Base-For-Sale.aspx

..........

[BarneyK]

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I'm not sure you've got the right ad, this one from the FT could be it...
http://www.businessesforsale.com/ft/...-For-Sale.aspx

[Just Alf]

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I'm not sure you've got the right ad, this one from the FT could be it...
http://www.businessesforsale.com/ft/...-For-Sale.aspx

[cad]

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I'm not sure you've got the right ad, this one from the FT could be it...
http://www.businessesforsale.com/ft/...-For-Sale.aspx

Shouldnae post stuff like that Crops when hot soups aboot

[SMAXXA]

Can we no just merge this with this with the mega **** thread on the meltdown, getting sick of the sight of seeing this brainless tubes name on the site.

[Treadstone]

The draft of the original ad, they took out the bolded parts.

Joint Administrators of Heart of Midlothian plc offer for sale the business and assets of this Edinburgh-based
Scottish Premier League football club, including the
brand and freehold stadium.


- Founded in 1874 won two world wars and saved football


- Freehold of 17,500 all-seater Tynecastle Stadium with new painted steps


- Average attendance of c.13,000 (when spending money that is not theirs), with a loyal fan base including
c.10,000 season ticket holders (minus the 3000 that never renewed)


- Heart of Midlothian Football Club brand and associated goodwill (ask Heriot Watt, HMRC etc)


- Squad of 22 players, together with a highly skilled, loyal and experienced workforce and Gary Locke and Billy Brown


Formal offers should be submitted to the Joint Administrators
by 5pm on Friday 12 July 2013.


Please use the 'Contact Seller' form for more information

[rcarter1]

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Smashing! Righto, off out to Dofos to purchase a Persian cat, as an accessory to go with this Bond villain voice I seem to have acquired!

"I expect you to die, Mister Yam."

Surely preceded with characteristic bluster -

"Do you expect me to pay?"

[Part/Time Supporter]

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If that is genuine, and I have my doubts, that is the Rangers Newco situation. It's definitely a different ad to the prospectus that was issued last week.

There are some glaring errors in it:-

1. it isn't an SPL club.

2. they wouldn't be if the name was sold as suggested.

Yup, the prospectus talked about effecting a CVA and selling the assets concurrently with the sale of shares representing a controlling interest in Hearts. That means the UBIG shares. But there is no mention in this more recent advert of buying shares, it's just the "business and assets". If the administrator has the consent of Ukio to release the security, they would be able to do that, but without the consent of UBIG they can't sell shares and controlling interest.

[bingo70]

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Yup, the prospectus talked about effecting a CVA and selling the assets concurrently with the sale of shares representing a controlling interest in Hearts. That means the UBIG shares. But there is no mention in this more recent advert of buying shares, it's just the "business and assets". If the administrator has the consent of Ukio to release the security, they would be able to do that, but without the consent of UBIG they can't sell shares and controlling interest.

In your opinion does this make it more or less likely they'll get an acceptable bid by the 12th July or does this not really tell us enough either way?

[Sanger]

No news of UBIG administration but UBIG and Ukio Bankas will be the bulk of creditors and control majority of shares. They would accept CVA if bid comes close to their valuation of *********** plus a couple of million for the club. If not reject then move to liquidation. Don’t think any of the chancers will have the money upfront that matches what UBIG and UKIO’s administrators want so it will be liquidation!

[CropleyWasGod]

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Yup, the prospectus talked about effecting a CVA and selling the assets concurrently with the sale of shares representing a controlling interest in Hearts. That means the UBIG shares. But there is no mention in this more recent advert of buying shares, it's just the "business and assets". If the administrator has the consent of Ukio to release the security, they would be able to do that, but without the consent of UBIG they can't sell shares and controlling interest.

Maybe this is a Plan B, alongside the sale of the shares.

If Plan A doesn't get anywhere, this would enable BDO to get out more quickly.

[CropleyWasGod]

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No news of UBIG administration but UBIG and Ukio Bankas will be the bulk of creditors and control majority of shares. They would accept CVA if bid comes close to their valuation of *********** plus a couple of million for the club. If not reject then move to liquidation. Don’t think any of the chancers will have the money upfront that matches what UBIG and UKIO’s administrators want so it will be liquidation!

UKIO, and possibly UBIG, are secured and therefore have no say in a CVA.

[Part/Time Supporter]

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In your opinion does this make it more or less likely they'll get an acceptable bid by the 12th July or does this not really tell us enough either way?

If CWG and I are correct in saying this advert suggests they will sell the Hearts business and assets to a newco, it would surely reduce any bids that would be made. That's because buyers would be well aware of the risk that a newco would be put into the bottom division.

[Glesgahibby]

CWG,SERGEY,
thanks for that info,I think I can now get my head round this
BDO basically are looking for bidders without being sure if there's a seller.
BDO can only take the process so far until the men from Lithuania
are finished with the red tape
May I add this could take a long,long time

[bingo70]

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If CWG and I are correct in saying this advert suggests they will sell the Hearts business and assets to a newco, it would surely reduce any bids that would be made. That's because buyers would be well aware of the risk that a newco would be put into the bottom division.

Apologies for being thick but does that mean its looking like newco is looking like the only realistic option?

Tbh I'd be happy with that, the thought of them dying completely is appealing and I'm sure I wouldn't lose any sleep if that did happen but them starting again inthe lowest division would probably be my first choice.

[CropleyWasGod]

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Apologies for being thick but does that mean its looking like newco is looking like the only realistic option?

Tbh I'd be happy with that, the thought of them dying completely is appealing and I'm sure I wouldn't lose any sleep if that did happen but them starting again inthe lowest division would probably be my first choice.

I still have my doubts about whether that ad is genuine.

However, if it is, I think BDO are being pragmatic, and have realised that (due to the shares issue) a Newco may be the only feasible route out. They are running the sale processes alongside each other, for efficiency and to speed up their own exit and payment.

Perhaps, too, the McKie group have told them that they are pulling out.... since they won't get their desired outcome of the signing embargo being lifted.

EDIT:- I have just emailed the selling agent, asking them for clarification about the "SPL" issue. Their answer might give me an idea how genuine they are.

[SkintHibby]

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I'm fairly sure it's the MP for Airdrie and Shotts, Pamela Nash, but it's possible that she's your cousin and just didn't tell you that she had been elected to parliament.

No she's not my cousin and not his personal secretary. I was making a point that it's not really Hibs class calling her a "munter" IMO. You never know who's looking in and there was no need for it.

[Hibby Kay-Yay]

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I still have my doubts about whether that ad is genuine.

However, if it is, I think BDO are being pragmatic, and have realised that (due to the shares issue) a Newco may be the only feasible route out. They are running the sale processes alongside each other, for efficiency and to speed up their own exit and payment.

Perhaps, too, the McKie group have told them that they are pulling out.... since they won't get their desired outcome of the signing embargo being lifted.

EDIT:- I have just emailed the selling agent, asking them for clarification about the "SPL" issue. Their answer might give me an idea how genuine they are.

Daffy Duck on standby...

[Scònaldò]

If our ****ty coloured neighbours do go under, can i lead the way with the following song?

Wee team, Wee cup
Big team, Tits up.

[HibbyDave]

I'm sure that I'm missing something here but it seemed important at one time.............................................. ......................Oh yes, now I remember, it concerned someone somewhere ( abroad I think) being due to be repaid £10million pounds in about a year or so.
That's approx £28,000 PER DAY without interest. If it's two years away then simply divide by two for another estimate.......Ach I'll do it for you £14,000 EVERY DAY.



Probably that will just be forgiven or put aside and no-one will ever look for repayment ever ever ever.... Think they maybe did just owe it to themselves or I've been dreaming.

GGTTH

[Dashing Bob S]

Given the 'special relationship' enjoyed by those two massive clubs, I thought Barca might have stepped in and agreed to play a glamour friendly at Murrayfield for the financial benefit of their skint pink chums.

Forget Bayern, still smarting over their setback sustained at the hands of the Gorgie club in two world wars.

For else could step up and generate much-needed revenues with a showcase friendly?

[Dashing Bob S]

The page count on this thread is going up again. Admins, can we have further sanctions?

[steakbake]

How about a Kaunas vs Hearts showdown in the Submariner's Cup?

Winner gets their assets unfrozen and avoids liquidation.

[Pedantic_Hibee]

Young Boys (Switzerland).

Surely they are intricately linked to our noncey neighbours?

[Dashing Bob S]

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How about a Kaunas vs Hearts showdown in the Submariner's Cup?

Winner gets their assets unfrozen and avoids liquidation.

Now that one would have appeal beyond the confines of Gorgie. Well, Kaunas.

[steakbake]

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Young Boys (Switzerland).

Surely they are intricately linked to our noncey neighbours?

They play at the brilliantly named Stadion Wan.kdorf

[Dashing Bob S]

What has happened to young full back Craig Thomson in all of this? Is he still at Kanuas or did he have his contract cancelled?

(I'm saying this not to start another tiresome done-to-death witch hunt against him, just genuinely curious as to what became of him.)

[hibee_nation]

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No she's not my cousin and not his personal secretary. I was making a point that it's not really Hibs class calling her a "munter" IMO. You never know who's looking in and there was no need for it.

Caught out big style.
Someone throw her a bone

[steakbake]

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What has happened to young full back Craig Thomson in all of this? Is he still at Kanuas or did he have his contract cancelled?

(I'm saying this not to start another tiresome done-to-death witch hunt against him, just genuinely curious as to what became of him.)

Didn't his loan expire, he in effect came back to Hearts and now they have binned him once his contract finished? Not sure who he's with now.