Share Transfers Agreed/Cooling off period

[QMU-1875]

Looks like their safe from liquidation, if they pull this off with the bidco and fanco fair play to them seems a great idea! Perhaps something fans of our own club could do yearly to help build up funds for the club to sign players with, I know I would happily sign up to investing £20 a month for the club to sign players!

[CropleyWasGod]

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Looks like their safe from liquidation, if they pull this off with the bidco and fanco fair play to them seems a great idea! Perhaps something fans of our own club could do yearly to help build up funds for the club to sign players with, I know I would happily sign up to investing £20 a month for the club to sign players!

How's that?

[hibbymick]

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Looks like their safe from liquidation, if they pull this off with the bidco and fanco fair play to them seems a great idea! Perhaps something fans of our own club could do yearly to help build up funds for the club to sign players with, I know I would happily sign up to investing £20 a month for the club to sign players!

Dont be surprised to see the Tache at your door tonight.

[lucky]

The interesting thing about this is that fanco only get shares handed over as when they pay back the interest free loan. So no direct debits then no shares. It appears that Bidco are putting £3m upfront but need more people to come on board. I still think this will end in tears. There will be no doubt some big egos in Bidco and not sure the fans will continue with the DD 8 years down the line. Seems easy on paper but not sure they will raise the money in the first place and even less certain that the money will continue after they've been saved

[brog]

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My take is that they already have the funding in place from local businesses / wealthy individuals but its not enough to satisfy the Liths yet.

So all they need to do is up their 'investment' to secure the club and presumably Tynie too.

They then get paid back from pledges over a number of years.

Seems like a not too bad plan really.

The only stumbling block could be how much the Liths want but I reckon they can't be too far away from agreement or they would never have gotten as far as preferred bidder status.

Liquidation appears a long way off.

They were effectively the only bidders that's why they got preferred status. They're still a long way from safety & this business plan has more holes than a tramps vest. Keep the faith!

[StevieC]

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My take is that they already have the funding in place from local businesses / wealthy individuals but its not enough to satisfy the Liths yet.
So all they need to do is up their 'investment' to secure the club and presumably Tynie too.
They then get paid back from pledges over a number of years.
Seems like a not too bad plan really.

A really good plan .. IF they can get the required level of loans .. IF they can get the required number of supporters pledging the required monthly amounts legally tied in for a long term repayment plan.

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The only stumbling block could be how much the Liths want

The UKIO Liths will "want" £6.9m .. they may "accept" slightly less.
The UBIG Liths will want something for the shares.
The football authorities will want £500k

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but I reckon they can't be too far away from agreement or they would never have gotten as far as preferred bidder status.

I'm not convinced that this is the case. They were the only (credible) show in town, and BDO really had to put somebody forward as "prefered bidder" to be seen to be at least trying to save the club.

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Liquidation appears a long way off.

I don't think Christmas is that far off. I've already started thinking about what to get the kids.

[Sanger]

ThAt is the crux of the deal? Reckon it will be short of what the Liths are looking for which means liquidation. How much would you put up on an unsecured basis to be paid back by football fans via direct debit!

[Gus Fring]

I've been speaking to my source and heres a few tidbits that might answer a few questions that have been raised:

There's been no movement from UKIO on whether the bid is acceptable yet and "deafening silence" on the UBIG share front.

On the "BIDCO" front as I've mentioned before the money is from several individuals and companies but it's unlikely these will be made public as the FOH were adamant about them being the front. They don't want anyone getting public attention (positive or negative) as a result.

Ian Murray is just the "face" of FOH. He doesn't have any responsibilities to the bid financially. He remains "independent".

Fans are continually asking for something in return for their pledges such as shares, match tickets, discounts etc. The FOH are unable to provide anything in exchange because then VAT comes into play. These are still donations.

There is nothing in the works about Hearts doing something with the council. Losing Tynecastle is an "unthinkable scenario" for FOH.

[joe breezy]

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How's that?

Because it says so in the Scottish media, same media that said Rangers Football Club would never go into liquidation. Internet bampots.

[greenginger]

http://www.15min.lt/naujiena/sportas...NE8YPIeiOSekgQ


Hot off the Lith press. Decision on Hearts by end of August according to Ukio Bankas Admin.

Also he does not think the FoH offer is the best for Ukio creditors !

[YehButNoBut]

This will put you off your tea tonight but this interview today by Murray explains how their bid will work.

[joe breezy]

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ThAt is the crux of the deal? Reckon it will be short of what the Liths are looking for which means liquidation. How much would you put up on an unsecured basis to be paid back by football fans via direct debit!

"The average sum borrowed by a customer using Wonga.com for the first time is £180."

http://www.dailymail.co.uk/news/arti...#ixzz2cQQAx7JL

[Zondervan]

Wonder when the Evening News will give Hibs some free/ cheap advertising, perhaps for our charitable foundation, or the Leith Links initiative?

@The_FoH: Just had more good news. In support of #FOH @edinburghpaper plans to run ANOTHER full page advert in tomorrow's sports section. Magnificent!

[CropleyWasGod]

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This will put you off your tea tonight but this interview today by Murray explains how their bid will work.

2 things come out of that for me.

1. he said, late on in the piece, that it will be BIDCO who are negotiating with UKIO. That means that the fans, the pledgers, have little say in the process.

2. at no point did he clarify who is going to own Tynecastle. He consistently talked about "the club" being (eventually) in the hands of the fans, but didn't say if or when Tynie would be.

[Dunderhall]

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I've been speaking to my source and heres a few tidbits that might answer a few questions that have been raised:

Ian Murray is just the "face" of FOH. He doesn't have any responsibilities to the bid financially. He remains "independent".

The latest appointment report issued for FoH has IM as an appointed director from May '13.

[#FromTheCapital]

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http://www.15min.lt/naujiena/sportas...NE8YPIeiOSekgQ


Hot off the Lith press. Decision on Hearts by end of August according to Ukio Bankas Admin.

Also he does not think the FoH offer is the best for Ukio creditors !

An implosion of the bank, which is the largest Scottish football club Hearts FC creditors, the insolvency administrator Amber Adomonis promises that a decision on the sale of the club should be adopted as early as August.

"The decision should be taken during the month of August. We strive to find the best option that is acceptable to the bank creditors of Economy and possible favorable club "- BNS G.Adomonis.According to him, negotiations are ongoing with two potential investors, one of them - the club's fans in the joint proposal. Hearts Club last week issued a statement saying that the club's administrators assessment Hearts football club supporters uniting Association Foundation of Hearts "proposal" would be acceptable. "However G.Adomonis BNS unable to confirm this: "It's certainly not claim that this is the best offer."In late July, Economy Bank mandated BDO `s administration of the company to continue to negotiate with two potential buyers of the club, in order to improve the financial proposals. Then announced that, if the negotiations are unsuccessful, Farm Bank will initiate liquidation proceedings for the club, and he will try to sell the mortgaged Tynecastle stadium as a separate asset, rather than with a Hearts football club.AFP data, negotiations continue with the Heats football club supporters uniting Association Foundation of Hearts "and the company" Five Stars Football.An Bank has pledged 29.9 percent. Hearts of Midlothian shares of the Bank is the largest creditor of the company.UK public broadcaster the BBC announced that Hearts of Economy Bank was owed 15 million. pounds (60 million. respectively), while controlling the club pack (81 percent). managing and also the failing bank An investment group - 10 million. pounds (40 million. respectively).In Hearts' shares peaking Economy shareholder Vladimir Romanov began investing in 2004, and later that year took over the controlling package.


Skaitykite daugiau: http://www.15min.lt/naujiena/sportas...#ixzz2cQXuzRQl

[Gus Fring]

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The latest appointment report issued for FoH has IM as an appointed director from May '13.

I believe that's accurate but I was pointing out that he's not put any of his own money in to the bids. The word independent was in inverted comments because I think it's clear to every one he is anything but

[Dashing Bob S]

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An implosion of the bank, which is the largest Scottish football club Hearts FC creditors, the insolvency administrator Amber Adomonis promises that a decision on the sale of the club should be adopted as early as August.

"The decision should be taken during the month of August. We strive to find the best option that is acceptable to the bank creditors of Economy and possible favorable club "- BNS G.Adomonis.According to him, negotiations are ongoing with two potential investors, one of them - the club's fans in the joint proposal. Hearts Club last week issued a statement saying that the club's administrators assessment Hearts football club supporters uniting Association Foundation of Hearts "proposal" would be acceptable. "However G.Adomonis BNS unable to confirm this: "It's certainly not claim that this is the best offer."In late July, Economy Bank mandated BDO `s administration of the company to continue to negotiate with two potential buyers of the club, in order to improve the financial proposals. Then announced that, if the negotiations are unsuccessful, Farm Bank will initiate liquidation proceedings for the club, and he will try to sell the mortgaged Tynecastle stadium as a separate asset, rather than with a Hearts football club.AFP data, negotiations continue with the Heats football club supporters uniting Association Foundation of Hearts "and the company" Five Stars Football.An Bank has pledged 29.9 percent. Hearts of Midlothian shares of the Bank is the largest creditor of the company.UK public broadcaster the BBC announced that Hearts of Economy Bank was owed 15 million. pounds (60 million. respectively), while controlling the club pack (81 percent). managing and also the failing bank An investment group - 10 million. pounds (40 million. respectively).In Hearts' shares peaking Economy shareholder Vladimir Romanov began investing in 2004, and later that year took over the controlling package.


Skaitykite daugiau: http://www.15min.lt/naujiena/sportas...#ixzz2cQXuzRQl

At least they got one thing right....

[KdyHby]

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I would happily sign up to investing £20 a month for the club to sign players!

http://leithlinks4kids.com/

https://www.facebook.com/LeithLinks4Kids

[StevieC]

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This will put you off your tea tonight but this interview today by Murray explains how their bid will work.

Let me summarise it for those unable to view it ..

IM: we've been given preferred bidder status which allows us to move forward as the sole bidder ..
(Err.. naw it disnae .. "preferred" and "sole" are not quite the same)

Q: It's important to highlight how the Bidco group and Fanco group can work in tandem to deliver a fan owned football club?

IM: Absolutely (but I've no idea) .. there are many ways to buy a football club .. (flannel, flannel) .. someone could buy the stadium and rent it back .. but that's not what we will be doing .. (flannel, flannel) .. so this is the best way of taking it forward (although I've still not told you how we're doing it) .. (flannel,flannel) .. financial stability .. (flannel, flannel) .. new dawn ..

Q: Bidco are members of the business community .. can you go into more detail ..

IM: .. Hearts fans .. no personal gain .. paid for by pledges .. gives fans comfort that people behind bid are "one of them" ..

Q: For your Hearts supporter in the street .. how do you explain the process to them ..

IM: An administration process is incredibly complicated .. (flannel, flannel) .. one party in the process (UBIG) is in a little bit of trouble .. (flannel, flannel) .. completely difficult situation .. (flannel, flannel) .. a little bit of patience .. (flannel, flannel) .. financially stable .. (flannel, flannel) .. bright future ..

Q: What part can fans play ..

IM: .. phenomenal support .. (flannel, flannel) .. over 6,700 pledges .. (flannel, flannel) .. straightforward formula .. give us more money .. (flannel, flannel) .. bright future .. (flannel, flannel) .. where we should be in Scottish football ..
(so in summary .. more pledges please)

Q: Have BDO intimated a price to buy the club ..

IM: That's a question for BDO .. (err .. naw .. it's a question to you .. have they told you how much?) .. (flannel, flannel) .. we will only bid a) what we can afford, b) what is realistic and c) what makes sure the future is secured .. (so potentially 3 different figures then???) .. and we can't do a penny more .. (flannel, flannel) .. moving forward in due course ..
(do we assume they haven't given a price, or the price given is currently too high???)

Q: In terms of timeline, what can we expect to happen next ..

IM: .. having discussions .. (flannel, flannel) .. please sign up for those direct debits .. (flannel, flannel) .. future very bright .. (flannel, flannel) .. if you can afford to sign up, to own this football club, do so as quickly as they possibly can ..
(so nothing happening anytime soon then?)


Talk about dodging the questions that matter ..

[Waxy]

This could all go through.
And by the end of the year all Lithuanian prisoners could all be released from Scottish jails(if there is any)

[rossc]

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I've been speaking to my source and heres a few tidbits that might answer a few questions that have been raised:

There's been no movement from UKIO on whether the bid is acceptable yet and "deafening silence" on the UBIG share front.

On the "BIDCO" front as I've mentioned before the money is from several individuals and companies but it's unlikely these will be made public as the FOH were adamant about them being the front. They don't want anyone getting public attention (positive or negative) as a result.

Ian Murray is just the "face" of FOH. He doesn't have any responsibilities to the bid financially. He remains "independent".

Fans are continually asking for something in return for their pledges such as shares, match tickets, discounts etc. The FOH are unable to provide anything in exchange because then VAT comes into play. These are still donations.

There is nothing in the works about Hearts doing something with the council. Losing Tynecastle is an "unthinkable scenario" for FOH.

and he borrowed his face from les dawson

[Alan62]

If they can pull it off, good luck to them.

Clearly the level of capital that those behind Bidco are willing to risk is crucial to the whole success of the venture. Their major risk is that the direct debits fall away. However, assuming that they are benevolent investors who are fans themselves, then this could be a brilliant way to transfer the club into real fan ownership. And a great way to dump millions of pounds worth of debt while somehow managing to make the whole thing look worthy.

Genius if they crack this one. Depends totally on whether the headline bid is enough to satisfy the Lithuanians. From an ongoing resourcing point of view, however, things will be tight as all the money to repay the debt and for working capital is essentially coming from the same punters - maybe a hard core of around 10,000 folks. They're not the richest people on the planet either but obviously better off than us Hobo peg sellers. 5-1, 1902, etc...

[weecounty hibby]

Whats all this "if they pull it off good luck to them" p1sh!?!? They are a shower of thieving, cheating, lying, ****bags, total filth from top to bottom as a club. **** them and i hope they get what they deserve and that is liquidation and years struggling to compete. I hope these comments coming from Hibbies is not a sign of a softening of attitudes towards them

[bingo70]

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Whats all this "if they pull it off good luck to them" p1sh!?!? They are a shower of thieving, cheating, lying, ****bags, total filth from top to bottom as a club. **** them and i hope they get what they deserve and that is liquidation and years struggling to compete. I hope these comments coming from Hibbies is not a sign of a softening of attitudes towards them

I agree

[Kato]

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Whats all this "if they pull it off good luck to them" p1sh!?!? They are a shower of thieving, cheating, lying, ****bags, total filth from top to bottom as a club. **** them and i hope they get what they deserve and that is liquidation and years struggling to compete. I hope these comments coming from Hibbies is not a sign of a softening of attitudes towards them

Correct. A lot of Yamspeak if you ask me.

[Coco Bryce]

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Whats all this "if they pull it off good luck to them" p1sh!?!? They are a shower of thieving, cheating, lying, ****bags, total filth from top to bottom as a club. **** them and i hope they get what they deserve and that is liquidation and years struggling to compete. I hope these comments coming from Hibbies is not a sign of a softening of attitudes towards them

This.

[portycabbage]

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Bidco Fanco Yamco Fannyco Newco Sevco Skintco Noshameco

Cheerio

Tesco.

[macca70]

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Whats all this "if they pull it off good luck to them" p1sh!?!? They are a shower of thieving, cheating, lying, ****bags, total filth from top to bottom as a club. **** them and i hope they get what they deserve and that is liquidation and years struggling to compete. I hope these comments coming from Hibbies is not a sign of a softening of attitudes towards them

Spot On.

I think a wee reminder needs to go out every now and then as to why the are up this creek without any paddles.

We have been telling them for years that there outgoings were unsustainable and only going to end in tears.

But we were fobbed off as Bitter Hobo's. how could they possibly go bust when they owe the money to themselves?!

[MADE IN LEITH]

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Whats all this "if they pull it off good luck to them" p1sh!?!? They are a shower of thieving, cheating, lying, ****bags, total filth from top to bottom as a club. **** them and i hope they get what they deserve and that is liquidation and years struggling to compete. I hope these comments coming from Hibbies is not a sign of a softening of attitudes towards them

No argument from me on this, I can't stand them and hope they get what the so rightly deserve. They do not deserve to be in the Scottish game never mind Division 1. They have not only brought the game into disrepute but they have also made a laughing stock of the Scottish game and thrown it further into the doldrums.

I know I won't loose any sleep if they never grace a football pitch ever again.

Clubs like that mob we can do without.

Adios, ciao goodbye, auf wiedersehen and good riddance to bad rubbish.

GGTTH