Share Transfers Agreed/Cooling off period

[Geo_1875]

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Budge speaks out and says nothing.

http://m.edinburghnews.scotsman.com/...lans-1-3310121

I like the way they waver between "over 7,800" and "nearly 8,000".

They're not very good with big numbers.

[Weststandwanab]

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I know it's Banderson, but this bit caught my eye. It supports my theory as to the details of the deal:-

Through her company, BIDCO (1874) Limited, she will fund the Foundation’s £2.5million Creditors’ Voluntary Arrangement

Fund, not participate in.

It was always going to be fund and with security over the P.B.S. I would imagine. Interesting to see 55k supporters were e mailed yet less than 8k are diddies.

[Geo_1875]

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It was always going to be fund and with security over the P.B.S. I would imagine. Interesting to see 55k supporters were e mailed yet less than 8k are diddies.

55k email addresses. They will have multiple email addresses for their Evening News posters.

[greenginger]

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55k email addresses. They will have multiple email addresses for their Evening News posters.

I think anyone who ever logged into Kickback counts as a contact. That's just about all of us !

[Hibbyradge]

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It was always going to be fund and with security over the P.B.S. I would imagine. Interesting to see 55k supporters were e mailed yet less than 8k are diddies.

I received a few...

[Ozyhibby]

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I received a few...

Post it up then. :-)

[Glesgahibby]

1)No date set for ukio and ubigs creditors meetings.
2)No date set for application to release ukio and ubigs shares in hearts.
These are the things that really matter

[greenpaper55]

There is very little new in that statement but it would seem the pledgers will have to keep on paying for evermore, anyone who pledged and thought it was a quick fix are in for a big disappointment-we'll support you ever more has never been so true

[scott7_0(Prague)]

Statement attached.

FTH.jpg

Dear Supporter

It has been a very busy few days since we announced some of the plans for trying to secure the long-term future of Heart of Midlothian Football Club. Hopefully, the statement made last week has provided some degree of clarity, albeit we recognise the need to provide more details. Please be assured we will furnish more information as soon as we are in a position to do so.

We all know the task ahead. Firstly, to ensure that the Club survives; secondly to ensure it is re-stabilised financially, with the strongest possible foundations to ensure its future. These are the tasks I am offering to take on; but I will not succeed without your continued support.

My task, as I see it, is to ensure that when I hand the Club over to you, the supporters, I will be handing over a Club in good shape and with sufficient resources to face the challenges of the future. To achieve this, the Club needs investment over the next two years to stabilise and then build a solid financial base.

Some of you are asking how long you might be asked to contribute. Right now, the Club needs your financial support to see us through the next two years. Thereafter your contributions are required to secure supporter ownership. Beyond that, and once ownership passes to the fans, it will be for you, the supporters, to agree the financial priorities of your Club.

To all the supporters who are helping the Club, either by attending games, contributing to the Foundation of Hearts, buying merchandise, fund raising – the list goes on – I thank you. It has been said many times over the last few months, but it is absolutely true that without this support we would not be here today.

To those of you who have already pledged, I thank you. To those of you who have not yet done so, I would simply say that if you believe in the journey we are about to undertake, and only if your financial position allows it, please consider joining your nearly 8000 fellow supporters, who are contributing. These supporters have started to build the cash reserves to enable fans ownership to become a reality, which will ultimately put an end to private ownership of our club.

I will do my part to the best of my ability. Thank you, in advance, for continuing to do yours.

Ann Budge
Executive Chairwoman Designate
Heart of Midlothian FC

[robinp]

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Statement attached.

FTH.jpg

www.youtube.com/watch?v=sZrgxHvNNUc

[scott7_0(Prague)]

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www.youtube.com/watch?v=sZrgxHvNNUc

totally.

But hey, allisbarry

[Craig_in_Prague]

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1)No date set for ukio and ubigs creditors meetings.
2)No date set for application to release ukio and ubigs shares in hearts.
These are the things that really matter

Don't think so, did you not just see the unveiling of Potter as manager?
New stars being lined up, Rudi has handed his apron back & no more pint pouring, this is just the start of Scottish domination and Man City v Barca tonight, will be of insignificance in 2 years.

Bitter hobo, 5-1, 1902.

[Col2]

I assume as she doesn't mention it she has secured the UBIG shares, has creditor approval and Lithuanian court approval? Or is that just a rubber stamp exercise?

[CropleyWasGod]

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I assume as she doesn't mention it she has secured the UBIG shares, has creditor approval and Lithuanian court approval? Or is that just a rubber stamp exercise?

... she's not part of the UBIG shares problem. She is only interested in getting the FOH shares, once THEY get them from UBIG and UKIO.

All of which means.... if it doesn't happen, if the UBIG shares are not released, she can put her hands up and say "well, nothing to do with me. I did all I could, put all those lovely plans in place, and someone else pulled the rug from under me."

[Weststandwanab]

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... she's not part of the UBIG shares problem. She is only interested in getting the FOH shares, once THEY get them from UBIG and UKIO.

All of which means.... if it doesn't happen, if the UBIG shares are not released, she can put her hands up and say "well, nothing to do with me. I did all I could, put all those lovely plans in place, and someone else pulled the rug from under me."

CWG - so correct and if that transpires I expect Ian - I was an M.P. - Murray, the Common Currency expert, to follow suit.

[CropleyWasGod]

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CWG - so correct and if that transpires I expect Ian - I was an M.P. - Murray, the Common Currency expert, to follow suit.

It's been said before, by many others, that it's all pointing to a spin of "not our fault". BDO, FOH, AB, ImAnMP can all take that line.

Expect WMD's aimed at Kaunas by the end of the year.

[Gus Fring]

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It was always going to be fund and with security over the P.B.S. I would imagine. Interesting to see 55k supporters were e mailed yet less than 8k are diddies.

That means 47,000 Hearts fans have decided not to sign up. Just let that sink in for a minute. That means that for every 7 Hearts fans that are asked to sign up to Budgerigars Ponzi Scheme® only one of them is daft enough to fall for it.

Or to put it another way. 6 out of every 7 Hearts fans is choosing to let their club die rather than spend a tenner a month to save it.

I can't wait to watch how this plays out. Even if the shares aren't frozen (they are) then the business model they have is hugely flawed. They were sold a promise of Fan ownership and being debt free when in reality they'll only be fan owned for a few minutes and they'll have just as much debt as every other SPFL club. And they'll be relegated.

[jgl07]

No mention of a Plan B should the shares not be unfrozen before the cash runs out.

What happens then, do FOH spend their DD money in propping up Hearts in administration in the hope of a change of fortune or do they cut their losses and allow liquidation to take place.

Assuming the latter, will the (old) Biddie be willing to purchase the assets (including Tynecastle) from the receiver (as with SEVCO) and start at the bottom of the League system?

Alternatively will FOH just purchase the club name and badge from the receiver and start up groundsharing somewhere?

To keep the name and record and SFA membership, this would presumably require the football debts to be paid off in any option?

[Weststandwanab]

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It's been said before, by many others, that it's all pointing to a spin of "not our fault". BDO, FOH, AB, ImAnMP can all take that line.

Expect WMD's aimed at Kaunas by the end of the year.

Indeed personally I will be lifting a Champagne saucer or five if that is the case.

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That means 47,000 Hearts fans have decided not to sign up. Just let that sink in for a minute. That means that for every 7 Hearts fans that are asked to sign up to Budgerigars Ponzi Scheme® only one of them is daft enough to fall for it.

Or to put it another way. 6 out of every 7 Hearts fans is choosing to let their club die rather than spend a tenner a month to save it.

I can't wait to watch how this plays out. Even if the shares aren't frozen (they are) then the business model they have is hugely flawed. They were sold a promise of Fan ownership and being debt free when in reality they'll only be fan owned for a few minutes and they'll have just as much debt as every other SPFL club. And they'll be relegated.

I did think of that. I think to save it they needed 10,000 diddies throwing £50 a month at it.

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No mention of a Plan B should the shares not be unfrozen before the cash runs out.

What happens then, do FOH spend their DD money in propping up Hearts in administration in the hope of a change of fortune or do they cut their losses and allow liquidation to take place.

Assuming the latter, will the (old) Biddie be willing to purchase the assets (including Tynecastle) from the receiver (as with SEVCO) and start at the bottom of the League system?

Alternatively will FOH just purchase the club name and badge from the receiver and start up groundsharing somewhere?

To keep the name and record and SFA membership, this would presumably require the football debts to be paid off in any option?

The bean counters discussed that very topic last week. That situation is probably no more tan 6 or s weeks away

[robinp]

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That means 47,000 Hearts fans have decided not to sign up. Just let that sink in for a minute. That means that for every 7 Hearts fans that are asked to sign up to Budgerigars Ponzi Scheme® only one of them is daft enough to fall for it.

Or to put it another way. 6 out of every 7 Hearts fans is choosing to let their club die rather than spend a tenner a month to save it.

I can't wait to watch how this plays out. Even if the shares aren't frozen (they are) then the business model they have is hugely flawed. They were sold a promise of Fan ownership and being debt free when in reality they'll only be fan owned for a few minutes and they'll have just as much debt as every other SPFL club. And they'll be relegated.

And how many non hearts fans arein that 47,000? I received 2 emails from them to 2 different accounts.

I also fully expect my Kickback account to have one of those pesky site-wide PM's from the admins/BIDCO again by the end of the day!

[Technofob]

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Budge speaks out and says nothing.

http://m.edinburghnews.scotsman.com/...lans-1-3310121

Is it just me or does Budgie look like Keith Lemmon???

[Gus Fring]

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No mention of a Plan B should the shares not be unfrozen before the cash runs out.

What happens then, do FOH spend their DD money in propping up Hearts in administration in the hope of a change of fortune or do they cut their losses and allow liquidation to take place.

Assuming the latter, will the (old) Biddie be willing to purchase the assets (including Tynecastle) from the receiver (as with SEVCO) and start at the bottom of the League system?

Alternatively will FOH just purchase the club name and badge from the receiver and start up groundsharing somewhere?

To keep the name and record and SFA membership, this would presumably require the football debts to be paid off in any option?

The part in bold can't happen without a rewrite of the FOH agreement. It specifically states the money will only be used once they have control of Hearts.

[CropleyWasGod]

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The part in bold can't happen without a rewrite of the FOH agreement. It specifically states the money will only be used once they have control of Hearts.

In some ways, the FOH agreement has already been rewritten. Most of those who signed up to the plan would have done so on the understanding that FOH were buying the shares..... and keeping them.

[surreyhibbie]

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And how many non hearts fans arein that 47,000? I received 2 emails from them to 2 different accounts.

I also fully expect my Kickback account to have one of those pesky site-wide PM's from the admins/BIDCO again by the end of the day!

...I got one as well..

good question though, how many are actually Yam fuds?

[jacomo]

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In some ways, the FOH agreement has already been rewritten. Most of those who signed up to the plan would have done so on the understanding that FOH were buying the shares..... and keeping them.

#createhistory (in about five years' time, assuming you've satisfied Ann Budge)

[Weststandwanab]

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In some ways, the FOH agreement has already been rewritten. Most of those who signed up to the plan would have done so on the understanding that FOH were buying the shares..... and keeping them.

Correct. I wonder if someone should ask Budgie to comment on this specific point.

[s.a.m]

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...I got one as well..

good question though, how many are actually Yam fuds?

That won't matter. The other 345,000 who, presumably, don't have internet access will step into the breach.

[JAY-ESS GREEN]

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Budge speaks out and says nothing.

http://m.edinburghnews.scotsman.com/...lans-1-3310121

Read the comments after all problems solved with major investor coming in at Christmas and we are all fantasists and sergei has been misleading us all this time gives me the dry boak. Unless they move Christmas to march methinks they are the deluded ones.

[CropleyWasGod]

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Correct. I wonder if someone should ask Budgie to comment on this specific point.

Again, she could rightly say "none of my business, guv. I'm buying the shares from FOH. Their internal doings are their's alone."

[jacomo]

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Is it just me or does Budgie look like Keith Lemmon???

What is with the photo shoot??

This looking-over-the-shoulder effort is deplorable really.