Share Transfers Agreed/Cooling off period

[kev1875]

Just incase anyone or everyone wants to make the president of Lithuania aware of the gorgie thieving beasts attempt at getting the club at a knockdown price thus making the court decision that bit easier they can do so here http://www.president.lt/prezidentas/en/letter_to_the_president2.html

She is big on getting Lithuania through the downturn so the more people that make her aware of the tramps spending 85 million pound of Lithuanian people's money the better. I have PLEASING

[seanshow]

It will be a sad day when/if this thread reaches the end because every day it gives great entertainment.

.....and more disgruntled yams please.

[brog]

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Yeah, I read that bit , but I was referring to the last sentence of the 3 rd Paragraph.

To me, it says that the Ukio Bankas creditors can't even meet to approve the Yam share transfer or anything else until ...... " this separate appeal is resolved "

Sorry, i meant to cut & paste that bit as well, my techy skills are on a par with Hamill's penalty skills! You are of course quite correct, that's hurdle 1, then followed by creditors' approval at a meeting to be tentatively held sometime before end of March. Lots more fun still to come.

[Onceinawhile]

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Guys could we please keep this thread on topic and not give banned posters any more attention than they deserve. Just take it said poster was banned for good reason.

ok doke.

[EastCalderHibby]

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Yep.And todays news about the shares (which isn't really news at all)has been held till today as they were probably anticipating yesterdays poor result and needed to deflect the depressing chat to a more positive note.

100% correct also sure i heard at the end the report on forth 1 that the begging bowl needs another (final ) push

[hibees 7062]

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100% correct also sure i heard at the end the report on forth 1 that the begging bowl needs another push

Sorted

[jacomo]

Hats off to Bryan Jackson if he has got an agreement to take Hearts out of admin. He was dealt an absolutely shocking hand and played it very well.

But yes, worth remembering that even if Hearts do avoid liquidation, their troubles aren't even close to being over. If they are celebrating some kind of victory over the road they are going to have an awful hangover.

[EastCalderHibby]

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Hats off to Bryan Jackson if he has got an agreement to take Hearts out of admin. He was dealt an absolutely shocking hand and played it very well.

But yes, worth remembering that even if Hearts do avoid liquidation, their troubles aren't even close to being over. If they are celebrating some kind of victory over the road they are going to have an awful hangover.

Hopefully a VERRY VERRY VERRY HIGH CLIFF

[Dashing Bob S]

Priming the Jambos for another cash hit. Far from being wide off the mark Bajillions guzumped Jackson and BDO with the non-news. Until the shares are unfrozen and in their hands they are pretty much done.

Neither UBIG nor UKIOS have the power to tell the Lith courts to release those shares. The unspecified meeting date 'in March' -whether it happens or not- will be instructive.

[GreenCastle]

The hilarious thing is that they think that FOH will be the white knight and all will be ok if they are in control - in the next couple of years. Far from the truth!

Even the few decent yams know the FOH plan is a massive risk and it's going to be far from easy.

When FOH fails or they struggle with the lack of DD or repayments of their new loans do they have a plan B ?

That's on the playing / operations side - not even including the urgent stadium upgrade needed.

They are / were never going to die as a club but serious cut backs are still to take place and still several twists and turns ahead as Lithuania are still firmly in control. The timing of this story was deliberate straight after the shocking result yesterday!

[hibees 7062]

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Hats off to Bryan Jackson if he has got an agreement to take Hearts out of admin. He was dealt an absolutely shocking hand and played it very well.

But yes, worth remembering that even if Hearts do avoid liquidation, their troubles aren't even close to being over. If they are celebrating some kind of victory over the road they are going to have an awful hangover.

Only just begining , they know that a DD is not just for Christmas

[Eyrie]

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Only just begining , they get that a DD is not just for Christmas

What about a share certificate?

[EastCalderHibby]

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Priming the Jambos for another cash hit. Far from being wide off the mark Bajillions guzumped Jackson and BDO with the non-news. Until the shares are unfrozen and in their hands they are pretty much done.

Neither UBIG nor UKIOS have the power to tell the Lith courts to release those shares. The unspecified meeting date 'in March' -whether it happens or not- will be instructive.

THE deluded ones are already over yesterdays result due to todays non story MY ARSE that story come about so the begging bowl can get back out
so come on you daft bassas give what you can you know it makes sense DIPSTICKS romanov.jpg

[leggeto]

The PR guys must have rolled in to action as soon as the winning penalty went in,they really are running on fumes now,totally bricking it that the fans will stop going,plus rekon a few direct debits were cancelled this morning,Tick Tock

[QMU-1875]

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Just incase anyone or everyone wants to make the president of Lithuania aware of the gorgie thieving beasts attempt at getting the club at a knockdown price thus making the court decision that bit easier they can do so here http://www.president.lt/prezidentas/en/letter_to_the_president2.html

She is big on getting Lithuania through the downturn so the more people that make her aware of the tramps spending 85 million pound of Lithuanian people's money the better. I have PLEASING

Sidney is that you? Absolute desperation, embarrassing.

[FranckSuzy]

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Sidney is that you? Absolute desperation, embarrassing.

That's a bit OTT, is it not?

[EastCalderHibby]

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The PR guys must have rolled in to action as soon as the winning penalty went in,they really are running on fumes now,totally bricking it that the fans will stop going,plus rekon a few direct debits were cancelled this morning,Tick Tock

to the yams looking in night night i am going tae ma bed ( thats where normal folk go ) to sleep but will be back the morn
HAVE ANOTHER ***** NIGHT AND HOPE YOU'RE PAIN IS STILL WITH YOU WHEN YOU WAKE UP 9 MAN I C T

[Jack]

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BDO on sportsound saying they have enough cashflow 'just about to take them to end of March'. Cup final might have bought them another couple of months. Sounds like King deal was not as lucrative or as expected paid the BDO fees now that they are not coming out of CVA (arrangement agreed post CVA meeting at end of Nov).

Money still very very tight.

Take the difference between final and semi final income; divide it by two and we will know roughly how much they're spending a month.

Well at least more accurately than before :-)

Hoboconomics at its very best.

[GreenLake]

If they can just get hold of the shares I think they might get through this. FOH have the benefit of experienced politicians like Ian Murray and Lord Foulkes who will be able to use their track record managing public funds in the running of the club. The FOH expense sheets will be of particular interest in the coming years not just for these politicians claims, but for more rudimentary individuals such as ex-players.

[Moulin Yarns]

WOW, that is some deal that BDO have worked with UKOI BANKAS and UBIG. Looks like they have managed to get their mits (an agreement to!) on all 108.87% of the shares. That Jackson is a magician.

http://www.scotsman.com/sport/footba...-out-1-3293216


The transfer of fallen Lithuanian investment company Ubig’s 78.97 per cent stake for a five-figure fee is regarded as the last major hurdle in a complex process to save the 140-year-old institution. Would-be owners the Foundation, who are backed by over 7,600 fans making monthly donations, had already agreed to buy secured creditor Ukio Bankas’ 29.9 per cent shareholding for £2.5 million


BBC are no better

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

UBIG agreed to transfer its 78.97% stake in the club to fans.

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

[lapsedhibee]

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WOW, that is some deal that BDO have worked with UKOI BANKAS and UBIG. Looks like they have managed to get their mits (an agreement to!) on all 108.87% of the shares. That Jackson is a magician.

http://www.scotsman.com/sport/footba...-out-1-3293216


The transfer of fallen Lithuanian investment company Ubig’s 78.97 per cent stake for a five-figure fee is regarded as the last major hurdle in a complex process to save the 140-year-old institution. Would-be owners the Foundation, who are backed by over 7,600 fans making monthly donations, had already agreed to buy secured creditor Ukio Bankas’ 29.9 per cent shareholding for £2.5 million


BBC are no better

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

UBIG agreed to transfer its 78.97% stake in the club to fans.

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

All big businesses do maths this way

[kev1875]

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Sidney is that you? Absolute desperation, embarrassing.

Hearts ****

[Greencore]

So what happens , foh get control. No debt and back to square one? Buying players they can't afford?

[Hibbyradge]

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So what happens , foh get control. No debt and back to square one? Buying players they can't afford?

They will immediately have debt, if and when, FOH get control.

They must pay all their outstanding football debts, plus they will owe their backers the best part of £3m for the shares.

What will they use to buy players?

[Aldo]

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So what happens , foh get control. No debt and back to square one? Buying players they can't afford?

FOF take control and the Circus just keeps rolling along. DD will slowly dwindle and doubt they have a plan B.

As for buy players they cannot afford. Doubt that will happen, but if they want to DAD on. 2nd administration will not be far away.
The arrogance of the roaster fans on the other hand want the likes of May and Mackay. Really!!

[Greencore]

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They will immediately have debt, if and when, FOH get control.

They must pay all their outstanding football debts, plus they will owe their backers the best part of £3m for the shares.

What will they use to buy players?

No I was just asking what would happen next. I've not been paying attention to the situation much and just get the feeling they think that they will be able to sign players as normal again and not face consequences for the clubs actions.

[#FromTheCapital]

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So what happens , foh get control. No debt and back to square one? Buying players they can't afford?

They'll still have debt which has to be repaid asap. Nowhere near as much debt as the 20 odd million that's been with them for 10+ years though. Going into admin has allowed them to bump a lot of creditors out of a lot of money which is why they'll always be branded cheats.

[Geo_1875]

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WOW, that is some deal that BDO have worked with UKOI BANKAS and UBIG. Looks like they have managed to get their mits (an agreement to!) on all 108.87% of the shares. That Jackson is a magician.

http://www.scotsman.com/sport/footba...-out-1-3293216


The transfer of fallen Lithuanian investment company Ubig’s 78.97 per cent stake for a five-figure fee is regarded as the last major hurdle in a complex process to save the 140-year-old institution. Would-be owners the Foundation, who are backed by over 7,600 fans making monthly donations, had already agreed to buy secured creditor Ukio Bankas’ 29.9 per cent shareholding for £2.5 million


BBC are no better

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

UBIG agreed to transfer its 78.97% stake in the club to fans.

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

And Don't forget Big Olga's 15%. That makes them an even bigger team.

[The_Todd]

They think they're saved but the best analogy I can think of is walking into a car showroom and striking a deal with the cleaner. The cleaner has no authority to sell the car.

[nribs]

Jackson in today's metro saying they have money to last 8 weeks!? C'Mon the weeks