Share Transfers Agreed/Cooling off period

[SurferRosa]

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Couple of jambos have told me this week that all is sorted, the shares can be unfrozen by UKIO, soon as the meeting is over in March the shares will be popped in the microwave, everything has been agreed down to the finer details and they will be debt free by next season.
Attachment 12010

Their delusion about them suddenly being debt free once the Foundation of Idiots get handed the keys to Tynie must have taken a bit of a battering after todays press release from said idiots. Not to mention their 'fan ownership' plan might have to wait a while until Budgie decides to vacate the Chairmans office.

[GreenLake]

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I've read this properly now, and here's the news:

Ann Budge is buying the club out of admin, if all goes to plan. Ann Budge will run the club. FoH will be represented on the Board but will not have control.

At some point in the future, probably at least 3 years away or longer, Ann Budge will hand the club over to FoH if they have paid her money back. There is no legal agreement in place for this yet.

So many questions about this I don't know where to start. It's hardly the 'supporters revolution'' as advertised though, is it?

If all goes to jambo plans she'll be sitting in a fur coat watching a Champions League tie at Old Trafford in three years time and swig back some Pinot Noir with Fergie after the game discussing the purchase of Rooney with Paterson thrown in to sweeten the deal.

[GreenLake]

Or even better, maybe she is an undercover Hibs supporter who will take a firm grip of the running of Hearts and make sure they don't cheat for another 30 years or so.

[ScottB]

If she isn't buying the club, why is she effectively running it for 3 years?

Certainly sounds like it'll be her club till the Foundation pay her off?

[CropleyWasGod]

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If she isn't buying the club, why is she effectively running it for 3 years?

Certainly sounds like it'll be her club till the Foundation pay her off?

She's protecting her investment. Given the recent history, it makes sense to have a major input in how the club is run.

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[Ozyhibby]

Who owns Bidco? It appears that they buy the club initially? Only director is Ann Budge?

[CropleyWasGod]

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Who owns Bidco? It appears that they buy the club initially? Only director is Ann Budge?

They're not buying the club. FOH are.
The FOH press release refers to her as the BIDCO director. Not sure if she's the only one.

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[Ozyhibby]

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They're not buying the club. FOH are.
The FOH press release refers to her as the BIDCO director. Not sure if she's the only one.

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@The_FoH: [BIDCO]: BIDCO can and must ONLY sell to #FOH with a binding contract in place. This will take 3-5 years.

@The_FoH: [BIDCO]: BIDCO as majority shareholder of Hearts will control the board. Ann will put that in place in due course. #FOH will be fully rep.

I'm confused as usual. :-)

[CropleyWasGod]

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@The_FoH: [BIDCO]: BIDCO can and must ONLY sell to #FOH with a binding contract in place. This will take 3-5 years.

@The_FoH: [BIDCO]: BIDCO as majority shareholder of Hearts will control the board. Ann will put that in place in due course. #FOH will be fully rep.

I'm confused as usual. :-)

Actually, that has confused me now. It's at odds with yesterday' s press release and the previous statements.
I'll get back to you :-)

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[One Day Soon]

God they are tiresome. I really couldn't care less what they get up to. I just wish it would stop eating media and football time, energy and coverage. Go bust, don't go bust - whatever, just get on with it.

The quicker they move to a stable new position the better because it is very clear that at that point they are going to have to deal with the reality of consistently living within their means for the first time in decades. And the bonus is that Banderson's guff should run its course pretty quickly after that.

[the_ginger_hibee]

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Actually, that has confused me now. It's at odds with yesterday' s press release and the previous statements.
I'll get back to you :-)

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Its not at odds with the FOH statement in my opinion. BIDCO owned & run exclusively by Budge buy the club. Only when the conditions of yesterdays FOH statement are met can BIDCO & FOH then enter negotiations to transfer the club. There is time constraints on this happening (3-5 years). All in the statement.

Any recent smoke from FOH and BDO has failed to mention BIDCO's prominence and instead spouted nonsense like 'Greatest Fan Movement Ever'...they have failed to even acknowledge a 3 year period in between where they will donate but have no control.

[The Sea-gull]

Does any else see the following scenario unfolding:-

HOMFC are relegated but exit administration and start 2014/15 in the first division. Failing to learn lessons of the past, they over-spend whilst mounting a first division title challenge and compete with The Rangers (who are also spending at riddiculous levels to get out the 1st div, even more so as they are bricking it about finishing second to HOMFC) for the title. They and Rangers return to the Premier League for season 2015/16. They both spend the next season spending way outwith their means trying to give it the big I am in the top league. Eventually, maybe after a few seasons, both run into some sort of financial trouble again.

I just think the arrogant attitudes and delusions of grandeur that people associated with these two clubs will get the better of them. I don't think building things back up quietly, slowly but surely and most importantly for each clubs, sustainably, exists in their vocabularlies.

[greenginger]

Bidco Ltd ?

They might need a different name. There already is a Bidco Limited registered with Companies House. Incorporated in 2011 (SC404654) , registered at Woodend Farm, Duns.

It is a Dormant Company, may'be a FoH sleeper.

[AltheHibby]

Bidco is code name. Its what all the big clubs do. For example, Sevco call themselves Rangers in an attempt to fool us. :-)

On a serious note, what's to stop Bidco having a pile of caveats to allow them to get out of selling to FOH? If it was me I would certainly cover myself. I would also do due diligence before handing over my cash.

[SQHib]

interesting wee snippet on FFOH twitter :

BIDCO will acquire 79% shareholding of HMFC

who owns the other 21 % - is Vlad's niece still holding shares ?

[Weststandwanab]

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Bidco Ltd ?

They might need a different name. There already is a Bidco Limited registered with Companies House. Incorporated in 2011 (SC404654) , registered at Woodend Farm, Duns.

It is a Dormant Company, may'be a FoH sleeper.

The Company is BIDCO (1874) Ltd.

[the_ginger_hibee]

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Does any else see the following scenario unfolding:-

HOMFC are relegated but exit administration and start 2014/15 in the first division. Failing to learn lessons of the past, they over-spend whilst mounting a first division title challenge and compete with The Rangers (who are also spending at riddiculous levels to get out the 1st div, even more so as they are bricking it about finishing second to HOMFC) for the title. They and Rangers return to the Premier League for season 2015/16. They both spend the next season spending way outwith their means trying to give it the big I am in the top league. Eventually, maybe a fter a few seasons, both run into some sort of financial trouble again.

I just think the arrogant attitudes and delusions of grandeur that people associated with these two clubs will get the better of them. I don't think building things back up quietly, slowly but surely and most importantly for each clubs, sustainably, exists in their vocabularlies.

Not with Ann Budge running the show for 3 years. I think things will be tighter than we first thought. A chairman who has £2.5mill riding on Hearts making it to 5 years with no wild aspirations of 'Champions League glory' or real interest in the club being the 'big' team - chairman purely to see she gets her money back. I'd say a 2nd relegation or championship mediocrity is more likely than SPFL then bust.

[greenginger]

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interesting wee snippet on FFOH twitter :

BIDCO will acquire 79% shareholding of HMFC

who owns the other 21 % - is Vlad's niece still holding shares ?

The Queen owns 4.45% of HoMFC shares

[AltheHibby]

Bidco is code name. Its what all the big clubs do. For example, Sevco call themselves Rangers in an attempt to fool us. :-)

On a serious note, what's to stop Bidco having a pile of caveats to allow them to get out of selling to FOH? If it was me I would certainly cover myself. I would also do due diligence before handing over my cash.

[Caversham Green]

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Bidco Ltd ?

They might need a different name. There already is a Bidco Limited registered with Companies House. Incorporated in 2011 (SC404654) , registered at Woodend Farm, Duns.

It is a Dormant Company, may'be a FoH sleeper.

I propose Budgieco. After all it's all being done on the cheep.


Where's the gettin' me coat smiley?

[Ozyhibby]

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Does any else see the following scenario unfolding:-

HOMFC are relegated but exit administration and start 2014/15 in the first division. Failing to learn lessons of the past, they over-spend whilst mounting a first division title challenge and compete with The Rangers (who are also spending at riddiculous levels to get out the 1st div, even more so as they are bricking it about finishing second to HOMFC) for the title. They and Rangers return to the Premier League for season 2015/16. They both spend the next season spending way outwith their means trying to give it the big I am in the top league. Eventually, maybe after a few seasons, both run into some sort of financial trouble again.

I just think the arrogant attitudes and delusions of grandeur that people associated with these two clubs will get the better of them. I don't think building things back up quietly, slowly but surely and most importantly for each clubs, sustainably, exists in their vocabularlies.

No chance of that happening as neither club has a line of credit.

[Bostonhibby]

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interesting wee snippet on FFOH twitter :

BIDCO will acquire 79% shareholding of HMFC

who owns the other 21 % - is Vlad's niece still holding shares ?

Maybe budgie is Vlads long lost neice after all and when the illusion is complete she will emerge Cruella Deville like and steal all their puppies, or is it poppies down gorgie way?

[Keith_M]

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interesting wee snippet on FFOH twitter :

BIDCO will acquire 79% shareholding of HMFC

who owns the other 21 % - is Vlad's niece still holding shares ?

Here's the report in the Evening News last year saying that she is thought to still control 15% of the shares through Quantum, in Switzerland.


If FoH are now stating they wil gain control of only 79% of the shares, that means Vlad will still own, directly or indirectly, part of their club

[Keith_M]

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Maybe budgie is Vlads long lost neice after all and when the illusion is complete she will emerge Cruella Deville like and steal all their puppies, or is it poppies down gorgie way?

Nope, you've got it all wrong, This is the true story of Vlad's Niece..........


Vlad_s_Niece.jpg

[Waxy]

So should we start calling them bidco? Like we call the rangers sevco?

[heretoday]

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God they are tiresome. I really couldn't care less what they get up to. I just wish it would stop eating media and football time, energy and coverage. Go bust, don't go bust - whatever, just get on with it.

The quicker they move to a stable new position the better because it is very clear that at that point they are going to have to deal with the reality of consistently living within their means for the first time in decades. And the bonus is that Banderson's guff should run its course pretty quickly after that.

Good post. I'm fed up with all the coverage too!

Personally I hope they get back on their feet and recover, not just for the sake of Edinburgh football but so that we can go about getting revenge for the 5-1. It's as simple as that.

[Waxy]

We dont need revenge for that.they cheated. Relegating them would do though.

[Bostonhibby]

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So should we start calling them bidco? Like we call the rangers sevco?

No, its still perfectly acceptable to call them tax payer and charity robbing c***s.

[Sergey]

I see the infighting has already started over on Kickback, which only serves as an Hors d'oeuvre as to the feast of squabbling that lies ahead.

That club is finished.

[Billy Whizz]

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I see the infighting has already started over on Kickback, which only serves as an Hors d'oeuvre as to the feast of squabbling that lies ahead.

That club is finished.

Sergey, what are they saying