Share Transfers Agreed/Cooling off period

[GreenLake]

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Has a price been agreed for UBIG [and UKIO] shares?

Are we still sure this all has to be confirmed with both sets of creditors meetings.

Mikey mentioned the Pompey shares. Do we know what stage they are at with creditors meetings, price agreements, frozen courts. They're a good couple of years ahead of the yams I think.

I hope the Lithuanian courts don't freeze the hearts shares for as long as Portsmouth's. A year and a half would suit me.

[Mikey]

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Has a price been agreed for UBIG [and UKIO] shares?

Are we still sure this all has to be confirmed with both sets of creditors meetings.

Mikey mentioned the Pompey shares. Do we know what stage they are at with creditors meetings, price agreements, frozen courts. They're a good couple of years ahead of the yams I think.

Portsmouth were liquidated so it isn't a pressing issue for them. Different rules down there meant that they could stay in the same league.

[greenginger]

They don't have the Ukio Bankas 29% holding yet. That can't be transferred until their creditors elect a new creditors committee.

Any sign of that happening ?

[Hibbyradge]

http://www.bbc.co.uk/sport/0/football/26015862

[inglisavhibs]

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http://www.bbc.co.uk/sport/0/football/26015862

Surprise,surprise good news leaked the day after a very bad day! Is there anything new in that statement or is it more bull---- to keep the fans on side. Jackson would look a bit foolish if it were not to happen.

[Craig_in_Prague]

"The proposal needs to be ratified by UBIG at a creditors' meeting now scheduled to take place in late March"

that could then get pushed out further,

hope they have plenty cash in the bank.

[jacomo]

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Surprise,surprise good news leaked the day after a very bad day! Is there anything new in that statement or is it more bull---- to keep the fans on side. Jackson would look a bit foolish if it were not to happen.

1. The crucial meeting they are pinning their hopes on is now scheduled for end of March.
2. "I am an MP" has spoken out:

"This is very welcome news from BDO," said FoH chairman Ian Murray MP. "We are edging closer to getting the club out of administration and we are now talking about when rather than if.

"This is a very significant hurdle overcome and we are delighted but more work is required."

I would say this is significant, as surely he would not leave himself as a hostage to fortune like this if he didn't think the end was in sight? Maybe they really are getting closer to getting out of admin?

[Craig_in_Prague]

just heard Jackson on the Radio,

- Thinks this has taken them from 50% to 75% of the way there
- Though all subject to both UKIO/UBIG administrators (creditors) consent
- Cup final was not budgeted, but would have helped
- Still not sure when they could get the shares, sounded more probable than possible, that there could be some slippage...
- mentioned the FANS again, no doubt, more begging will come

Seems there is plenty mileage left in this soap !

[The Sea-gull]

It kinda sounds like they are only confirming information they already knew. Basically things are looking good for the Spring (they are giving end of March and end of April type chat but they have said the Spring already and that is a suitably vague period which could cover March, April or May though I'd argue anything past mid-May is summer in football terms!) but there are a few technicalities still to be addressed (the yams will ignore this).

Not really new news but what is of course new is the fact that yesterday they couldn't win a semi final where they had 30 mins to score against 9 men. Cue the Jambo PR machine going into over-drive with spinning out a good story the day after.

Classic Yam PR tactics as well as it seems obvious as per Bajillions's post, that this news could have been ready to go for some time but has been held off until today as an enhancement tactic in the event of them winning so feelgood factor was maximised or in the event of them losing, a deflection tactic to move chat away from the result.

[BH Hibs]

Sounds like nothing has changed to me apart from the date of the creditors meeting which coukd also be speculation.

[GREEN WARLORD]

So how long have the Portsmouth share been frozen and is their scenario much the same as the Yams. Information required, as i need to slap a few Yams in the dish with it

[Hibee87]

Whatever is happening with the lith admins of UBIG or Ukio, its all irrelevant until the shares are unforzen. This is the decision of the Lith Government correct?
And as someone point out the Portsmouth shares are still frozen by the same gov 2 years after they went into admin correct?

so they can agreein princible till the cows come home.

[scott7_0(Prague)]

Guys...

the timing of this announcement was key to the outcome of yesterdays game. The *****'s are getting restless, they needed something to distract them.

Simples.

[greenpaper55]

Fatt yam Mclauchlin has to try and cheer up the flumps after yesterdays disaster, you have to remember they were going to be out of admin in August-maybe this year if they are lucky !.

[Judas Iscariot]

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Guys...

the timing of this announcement was key to the outcome of yesterdays game. The *****'s are getting restless, they needed something to distract them.

Simples.

Spot on

[Gus Fring]

I think they are more obsessed with me on Kickback than they are with the news. "Backtracking" they call it. (I call it accurate info)

Wait until they find out I have an account over there with over 1000 posts as well. And it's not under the name Bajillions

[Weststandwanab]

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I think they are more obsessed with me on Kickback than they are with the news. "Backtracking" they call it. (I call it accurate info)

Wait until they find out I have an account over there with over 1000 posts as well. And it's not under the name Bajillions

They are, especially Dannie Boy.

[clerriehibs]

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Whatever is happening with the lith admins of UBIG or Ukio, its all irrelevant until the shares are unforzen. This is the decision of the Lith Government correct?
And as someone point out the Portsmouth shares are still frozen by the same gov 2 years after they went into admin correct?

so they can agreein princible till the cows come home.

The old portsmouth shares may be frozen - but portsmouth are out of admin.

Which isn't helpful.

[Inch Hibs]

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I think they are more obsessed with me on Kickback than they are with the news. "Backtracking" they call it. (I call it accurate info)

Wait until they find out I have an account over there with over 1000 posts as well. And it's not under the name Bajillions

That's cause you where wrong. Accept it and move on.

Who gives a **** if they come out admin? The damage is done for a good few years.

[Moulin Yarns]

Is it just me, or am I miss-reading this?

"Hearts moved a "big step" closer to exiting administration after majority shareholder UBIG agreed to transfer its 78.97% stake in the club to fans."


http://www.bbc.co.uk/sport/0/football/26015862

I thought UBig held 50% and UKIO BANKS had the other 28.97%, so how come UBIG now hold them all? Over to you, CG, CWG and Sergey.

[CapitalGreen]

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The old portsmouth shares may be frozen - but portsmouth are out of admin.

Which isn't helpful.

Old Portsmouth were liquidated - Current Portsmouth is a Newco

[Mikey]

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The old portsmouth shares may be frozen - but portsmouth are out of admin.

Which isn't helpful.

Yes it is. They're where they are because they were liquidated.

[WindyMiller]

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The old portsmouth shares may be frozen - but portsmouth are out of admin.

Which isn't helpful.

Portsmouth were liquidated and a new Company took over the Club.

[Weststandwanab]

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The old portsmouth shares may be frozen - but portsmouth are out of admin.

Which isn't helpful.

Portsmouth are a Newco and we all know what happens to Newcos in Scotland.

[Onion]

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Is it just me, or am I miss-reading this?

"Hearts moved a "big step" closer to exiting administration after majority shareholder UBIG agreed to transfer its 78.97% stake in the club to fans."


http://www.bbc.co.uk/sport/0/football/26015862

I thought UBig held 50% and UKIO BANKS had the other 28.97%, so how come UBIG now hold them all? Over to you, CG, CWG and Sergey.

What about the comment that the Cup Final would only have covered them for about a month IMHO their running costs are waaaayyyy to high for a wee provincial club which has been in Admin for 8 months and about to be relegated. Would love to see a breakdown of their monthly bills.

[CropleyWasGod]

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Is it just me, or am I miss-reading this?

"Hearts moved a "big step" closer to exiting administration after majority shareholder UBIG agreed to transfer its 78.97% stake in the club to fans."


http://www.bbc.co.uk/sport/0/football/26015862

I thought UBig held 50% and UKIO BANKS had the other 28.97%, so how come UBIG now hold them all? Over to you, CG, CWG and Sergey.

As I read it, the "deal" that has been done is for UBIG's shares, but has UKIO's consent. Not sure if UKIO are getting any cash, but they seem to have approved it, and agreed to hand over their shares.

Thus, if it goes ahead, FOH will get the 78.97% holding.

As for the report, it's fitba journalists trying to be smart. And failing. As it was ever thus.

[cwilliamson85]

Not sure if I am reading this right (BBC story) but I see the initial deal for the shares has been done but the stadium has still not even been discussed.

I would love it to be true (Kevin Keegan style). Sure, you can have shares in a club that is worth nothing but we will keep your biggest asset and try and get as much money as possible for it by selling to the highest bidder.

[CropleyWasGod]

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Not sure if I am reading this right (BBC story) but I see the initial deal for the shares has been done but the stadium has still not even been discussed.

I would love it to be true (Kevin Keegan style). Sure, you can have shares in a club that is worth nothing but we will keep your biggest asset and try and get as much money as possible for it by selling to the highest bidder.

The stadium has nothing to do with it.

If FOH get the shares, they get HMFC's assets, which include the stadium.

[cwilliamson85]

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The stadium has nothing to do with it.

If FOH get the shares, they get HMFC's assets, which include the stadium.

Taken from the BBC "FoH and its financial backers are offering about £2.5m for the club, with the majority going to Ukio Bankas, which has a 28.79% stake in the club but also holds a charge on Tynecastle Stadium. "

Why put this as a seperate note then? Again this could be misreading it.

[JeMeSouviens]

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Taken from the BBC "FoH and its financial backers are offering about £2.5m for the club, with the majority going to Ukio Bankas, which has a 28.79% stake in the club but also holds a charge on Tynecastle Stadium. "

Why put this as a seperate note then? Again this could be misreading it.

Because that's why the UKIO admin is getting (almost) all the money, despite UBIG's admin holding the larger shareholding and Hearts having massive debts to them both.