Share Transfers Agreed/Cooling off period

[Weststandwanab]

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I might be wrong, but I'm 99% certain that at the time of the share sale, it was established, from the share sale prospectus, that Vlad was not selling any of his shares, he was creating what were, in effect, nonpreferential, non vote carrying, non dividend shares of no value whatsoever.

Apologies, my memory must be fading.

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The list of names and how much the put in will embarrass a few people I would imagine. There were some pretty heroic claims getting bandied about at the time about large purchases. Be interesting to see the reality.
Wonder how much Foulkes, Mackay, Robertson and Skacel put in? I'm an MP?

Not a lot I will wager, some as much as me.

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Oh Dear, this is going to get messy.

Full list of donations (share purchases) by name and amount.

This is where you see if your mates or work colleagues were telling wee fibs about contributing ;)

Messy indeed !

[CropleyWasGod]

Total debt seems to have gone up to £33m, if I am reading it correctly.

However, not sure how to identify the "new shareholders".

[GordonHFC]

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I might be wrong, but I'm 99% certain that at the time of the share sale, it was established, from the share sale prospectus, that Vlad was not selling any of his shares, he was creating what were, in effect, nonpreferential, non vote carrying, non dividend shares of no value whatsoever.

That'll be a donation then

[Craig_in_Prague]

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Attached

So all the players that are 'creditors' is the un-paid wages at the point of going into admin?

some big bucks there (though, it just shows the daft wages they got I guess!)

****.
CHEATS.

[brog]

You're a star!! I see the players are listed! Will these ( their shareholding ) now become football debts? Pleasing!!

[cabbageandribs1875]

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Shaun Lawson's mum - 50p (with the same again next week if he tidies his bedroom)

and stops wearing her clothes

[Killiehibbie]

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Attached

Mr Michael Ngoo £4.34

Bumped for his total worth.

[Coco Bryce]

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Attached

Excellent stuff in there.

[Weststandwanab]

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Total debt seems to have gone up to £33m, if I am reading it correctly.

However, not sure how to identify the "new shareholders".

Just starting to read but could I guess as these sums from the new shares, which has gone to Lithuania, would have been off set against sums de to UKIO/UBIG/A.N. Other Mad Vlad organisation ?

[Barney McGrew]

Reading that suggests that David Southern abstained from the vote.

I'm sure that will down well across by

[Sergio sledge]

1. The Joint Administrators instructed Jones Lang LaSalle (“JLL”) to provide a valuation of Tynecastle Stadium. So as not to prejudice the current sale process, the valuation provided by JLL has been excluded from this report.

For me this is a bit of a cop out from BDO. They're not putting it in so that people like us can't see it and kick up a fuss IMHO. I fail to see how disclosing this would prejudice the current sale process, surely BDO have told UKIO and UBIG the valuation that was received, FoH had their own valuation done and any property developer worth his salt will be able to put a valuation on the land, so the only people this is being kept from is us mere mortals who assume that the land is worth more than the £2.5m FoH are offering for the club.

[cabbageandribs1875]

scottish water £10,300+ that's a lot of showers

[CyberSauzee]

PBS book value before admin of £13.75M. "Estimated to realiase - Uncertain"

[Craig_in_Prague]

Profit & Loss, accumulated, 47.4M (losses)

Truely, disgusting.

[Gus Fring]

I can't find the list of shareholders, is it every person who bought shares in the share issue that's listed?

[Barney McGrew]

The known creditors list has changed from the first one issued quite a bit. All the charities have disappeared, but I'd want to know how the debt to Heriot Watt has jumped to £5.1m and why they then weren't represented at the creditors meeting!

[Mikey]

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Attached

You'd have to imagine that many of the people listed on pages 15 - 38 aren't too happy about having their names, addresses and amount owed to them freely available to the public.

Never mind

[Gingertosser]

How can they rent flats from Edinburgh Council ?

Surely council flats are rented out on a points system, and I don't believe footballers are awarded many points using this system ?

[Weststandwanab]

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That'll be a donation then

A write off more likely

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1. The Joint Administrators instructed Jones Lang LaSalle (“JLL”) to provide a valuation of Tynecastle Stadium. So as not to prejudice the current sale process, the valuation provided by JLL has been excluded from this report.

For me this is a bit of a cop out from BDO. They're not putting it in so that people like us can't see it and kick up a fuss IMHO. I fail to see how disclosing this would prejudice the current sale process, surely BDO have told UKIO and UBIG the valuation that was received, FoH had their own valuation done and any property developer worth his salt will be able to put a valuation on the land, so the only people this is being kept from is us mere mortals who assume that the land is worth more than the £2.5m FoH are offering for the club.

I could not agree more - Liths get your own valuation done or speak to Cuddly Bob !

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scottish water £10,300+ that's a lot of showers

There may have been a lot of Single Fish to clear away.

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You'd have to imagine that many of the people listed on pages 15 - 38 aren't too happy about having their names, addresses and amount owed to them freely available to the public.

Never mind

I would imagine there would be a lot of take away Pizza being delivered to an address in East Calder soon.

[Mikey]

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The known creditors list has changed from the first one issued quite a bit. All the charities have disappeared, but I'd want to know how the debt to Heriot Watt has jumped to £5.1m and why they then weren't represented at the creditors meeting!

That's got to be a mistake...............

[Sergio sledge]

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The known creditors list has changed from the first one issued quite a bit. All the charities have disappeared, but I'd want to know how the debt to Heriot Watt has jumped to £5.1m and why they then weren't represented at the creditors meeting!

The charities debt has been settled by someone on Kickback hasn't it? So they probably removed their claim.

Did they not renegotiate the lease with Heriot Watt? It could be that they have entered the value of the remaining 16 years of the original lease as a claim because technicaly they broke the terms of the contract? (£320k per year)

You would assume that, considering they have negotiated a new lease, they were happy to leave it on the books as a debt but not bother to vote as they are going to get their money anyway.

[magpie1892]

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You'd have to imagine that many of the people listed on pages 15 - 38 aren't too happy about having their names, addresses and amount owed to them freely available to the public.

Never mind

Couple of people I know in there in the admin staff debts, one in particular, who need that money with Xmas approaching. And they'll no see a penny. For them, I do feel genuinely sorry.

[JimBHibees]

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The known creditors list has changed from the first one issued quite a bit. All the charities have disappeared, but I'd want to know how the debt to Heriot Watt has jumped to £5.1m and why they then weren't represented at the creditors meeting!

Interesting question. A staggering amount.

[Mikey]

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Couple of people I know in there in the admin staff debts, one in particular, who need that money with Xmas approaching. And they'll no see a penny. For them, I do feel genuinely sorry.

Turns out I know one of the guys on the creditors list through Mrs Mikey. He's a big Hearts guy but I know he'll be missing the £3.5k-ish that he's due.

And won't get!

[green glory]

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scottish water £10,300+ that's a lot of showers

Why would Gary Locke's team need water for showers?

[Weststandwanab]

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The charities debt has been settled by someone on Kickback hasn't it? So they probably removed their claim.

Did they not renegotiate the lease with Heriot Watt? It could be that they have entered the value of the remaining 16 years of the original lease as a claim because technicaly they broke the terms of the contract? (£320k per year)

You would assume that, considering they have negotiated a new lease, they were happy to leave it on the books as a debt but not bother to vote as they are going to get their money anyway.

I think all of that is correct.

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Couple of people I know in there in the admin staff debts, one in particular, who need that money with Xmas approaching. And they'll no see a penny. For them, I do feel genuinely sorry.

I feel too for those innocents who have been done by the cheats.

[booshsutton]

Just north of £114k owed to Mr Andrew Driver. How much was he on?

[Ozyhibby]

These debts to players must surely count as football debt?

[MurrayfieldHibs]

Interesting reading in section 3 on the second page –
“the costs & expenses of the administrators shall be settled partially from any outstanding trading receipts at the point of the joint administrators discharge from office” ….

Later followed by clarification –
“For the avoidance of doubt, any payment of this nature would exclude 2013-14 season ticket monies”.

What this seems to be saying is that some of the administrators’ fees will come out of the income (not including 13/14 season ticket money) of HOMFC PLC i.e. walk up money, TV revenue, cup matches, retail, player sale etc. This goes totally against what was said at the beginning – All fees would come out of the money due to the secured creditors.

[cabbageandribs1875]

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Why would Gary Locke's team need water for showers?

it's maybe for personal use :0