Share Transfers Agreed/Cooling off period

[Peevemor]

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Why would Munro pay £15M when he could have just agreed a deal with BDO to take the whole club for say 6 or 7 million as part of CVA bid ?

Beacuse I suspect he doesn't have the dosh. He's reportedly offered £1m per year for 15 years. This would be payed by newyam renting the stadium (even if he was eventually to also buy the FC).

[the_ginger_hibee]

Now Shoeless Bob returns.

Need Massone for the mad house treble.

[Winston Ingram]

Latest from JKBmeltdown

@JKBmeltdown: Any word from Sergey/Baj yet?

[Weststandwanab]

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How can one offer be for £2.5m and then anither for £15m??

The difference between the two doesnt make sense?!

It does if you are a Lith creditor.

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But but but but Hawrts, BDO, BBC and the EEN/Scotsman said it's not even worth £2.5m that was being offered. That Pat Munro must have got his decimal point wrong, like Banderson with the Wonga Million!

Has anybody asked Tom Engish ?

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Is Munro doing this to force liquidation. Then good old Massone rides in to buy up the scraps.

He could be working for Budgie to soften up the yams for the big L

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Maybe the boy was wanting to meet Romanovs asking price of £51m and got a little mixed up.

Delays could be the end of them...and how ironic that these delays are brought to you by the numbers 1, 5 and a man called Pat.

Brilliant

[Pete]

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@BBCBMcLauchlin: Bob Jamieson has confirmed he has made an offer for Hearts shares but says he will only step in if Ann Budge deal fails #bbcsportscot

So before this development the only alternative to accepting this joke CVA was being left with a piece of land with scare stories attached.

Now there are other offers surely this totally weakens any position FOH and BDO have weaseled their way into.

Delays and liquidation surely loom.

[Mikey]

Better start getting those DD's refunded...............

[Coco Bryce]

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Better start getting those DD's refunded...............

Yep this is gonna get messy

[matty_f]

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Better start getting those DD's refunded...............

How much do we think the admin fee will turn out to be?

[Col2]

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How much do we think the admin fee will turn out to be?

Heard it was 25%. Someone somewhere makes a few quid :)

[Onceinawhile]

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How much do we think the admin fee will turn out to be?

51 percent.

[The_Todd]

So let me get this right- one of the new bids is £3m but it'll only be made if Budge fails on 2.5m

Why on earth would they now accept 2.5m if 3m is now in the public domain?

[GreenLake]

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Why would Munro pay £15M when he could have just agreed a deal with BDO to take the whole club for say 6 or 7 million as part of CVA bid ?

Maybe he is just offering 15million hoping to occupy Ukio and UBIG for another week or two and 'rupt the Yams.

[AltheHibby]

From sickbag:

"We are all a pleasant bunch on JKB"

"Does munro even exist or is he a bajillions/sergay type fantasy"

I would make a sarcastic comment if I could think of anything funnier!

[GreenLake]

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51 percent.

I thought it was 7.0% which was 6.2% plus expenses.

[bawheid]

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So let me get this right- one of the new bids is £3m but it'll only be made if Budge fails on 2.5m

Why on earth would they now accept 2.5m if 3m is now in the public domain?

It comes down to how well Jackson can persuade the Liths that these late offers are pie in the sky.

If I was Lithuanian I'd be tempted to explore them further. All this noise and scrambling around at the last minute certainly doesn't help BDO's story that the land is worthless and £2.5m is as good as it gets.

[Onceinawhile]

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I thought it was 7.0% which was 6.2% plus expenses.

Nah, it'll be scottish cup related so that they don't throw a fit whilst they get fleeced. May be 19.02 percent for top bantz.

[matty_f]

Suppose the admins could accept the cva and investigate the other bids during the cooling off period.

Bumping them at that late stage would be akin to St Senddown scoring two in the final couple of minutes. Hilarious.

[Peevemor]

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Suppose the admins could accept the cva and investigate the other bids during the cooling off period.

Bumping them at that late stage would be akin to St Senddown scoring two in the final couple of minutes. Hilarious.

They can't. FOH need the nod today to enable them to dip into the money already collected and start selling STs - they can only do this if they're sure the deal will go through (including getting the stadium).

[Jack]

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Suppose the admins could accept the cva and investigate the other bids during the cooling off period.

Bumping them at that late stage would be akin to St Senddown scoring two in the final couple of minutes. Hilarious.

I doubt a change of mind would be sufficient reason. From a Lithuanian point of view why even touch the CVA today when there's these other offers.

And I think we now know why BJ is over there. He must have known about these other bids and I suspect will be telling anyone who will listen to ignore them.

[GreenLake]

£1million in rent isn't going to leave much for paying the team and they still have the Riccarton rent to pay too. Pat should also make them pay back a sizable fee for the club and loot the FOH funds. After stripping their assets and bleeding them dry, let them have their club and compete somewhere in the West of Edinburgh Pub Sunday Leagues. That would still be a fraction of a punishment for their crimes.

[ALF TUPPER]

So...... They deid yet? Wish they would just put the squealing animal to sleep. #inhumane

GGTTH

[Jim44]

Does anybody else think this last minute 'development' is a load of Tom Kite designed to steal BDO's thunder on D day? The Liths won't be around for 15 years anyway to pick up the spoils.

[Hibernia Na Eir]

What time is the coffin getting lowered?
its all we need/want to know

[Just Alf]

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Does anybody else think this last minute 'development' is a load of Tom Kite designed to steal BDO's thunder on D day? The Liths won't be around for 15 years anyway to pick up the spoils.

Jim, I agree. we've been told often enough that the Admins "job" is to get a much money as possible as soon as possible.

wierd

[Onion]

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Predictable line up from Kickback in the financial/legal/administrative derby. Hibs.net shock everybody by announcing Plumber Pat in the line up.

5 secs Pat makes his presence felt with a strong bid early doors.

Kickback 0 Hibs Net 1 (Impeccable Sources, OG)

1min: GOAL! Salmond under pressure, and caught out of position. Tazio came in and looked decisive, knocked a square ball back to Impeccable Sources which the hapless defender couldn't control under pressure from the rampaging Sergey, putting through his own net.

Brilliant

But hold on ..... the rotund linesman on the far side who used to be a commercial lawyer in London is flagging for "crimes of tortious interference in the box".

[Geo_1875]

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Jim, I agree. we've been told often enough that the Admins "job" is to get a much money as possible as soon as possible.

wierd

But it must be making them think that there is a damn sight more than £2.5m available if they go to an open sale.

[LancsHibs]

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So...... They deid yet? Wish they would just put the squealing animal to sleep. #inhumane

GGTTH

would love to be the one to pull the trigger! However, whatever the outcome of today there will be more squirming, thrapping about and agony

[GreenLake]

Have they arrested those responsible for selling Tynecastle High School for a pittance yet?

[ano hibby]

Presumably Shoeless Bob and Hapless Pat are positioning their bids for a liquidation scenario, ie this is what you could get if you reject the CVA.

As an aside whilst £15m is a big headline number it is £1m every year for 15 per the Scotsman. If I can recall some net present value maths from back in the day, £15m over 15 years is worth nothing like £15m today as a lump sum.
I did a quick calculation of the NPV of 15m over 15 years and using discount rates of 5%,10%,15% (take your pic) todays value of £15m is £10.9m, £8.4m or £6.7m. Certainly not £15m but also still a multiple of £2.5m and surely worth the Liths investigating further as others have said.

Today has a bit of a transfer deadline day feel to it.

[Weststandwanab]

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Presumably Shoeless Bob and Hapless Pat are positioning their bids for a liquidation scenario, ie this is what you could get if you reject the CVA.

As an aside whilst £15m is a big headline number it is £1m every year for 15 per the Scotsman. If I can recall some net present value maths from back in the day, £15m over 15 years is worth nothing like £15m today as a lump sum.
I did a quick calculation of the NPV of 15m over 15 years and using discount rates of 5%,10%,15% (take your pic) todays value of £15m is £10.9m, £8.4m or £6.7m. Certainly not £15m but also still a multiple of £2.5m and surely worth the Liths investigating further as others have said.

Today has a bit of a transfer deadline day feel to it.

True but as we are heading for a period of deflation, or at the least very low inflation, it could be not far off the mark.