Share Transfers Agreed/Cooling off period

[KdyHby]

Well said RK:

http://leithlinks4kids.com

[Phil D. Rolls]

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I see they have the begging bowls out again.

"As you probably know, Jambos Kickback members have responded magnificently in the club's time of need. Since Hearts went into administration last June, JKB members have donated over £56,000 to the club.

Now we're almost out of the crisis, but the club is asking for supporters to help one last time by buying tickets for games. So JKB is making one final push for fundraising before the end of this tumultuous and historic season. Please take a moment to have a look at this thread.


http://www.hmfckickback.co.uk/index....lub-this-year/ (http://www.hmfckickback.co.uk/index....lub-this-year/)


It's asking members to donate the price of a ticket to Hearts. Thanks to those of you who have already responded so generously.

If you can contribute the price of a ticket it would be great, and if you can't it would still be hugely helpful if you could contribute whatever amount you can to JKB's last fundraising drive. To contribute, please click on the Donate link at the top of any JKB screen, or click on the link below, and follow the directions.


Donate screen (http://www.hmfckickback.co.uk/index.php?/donate/)"

I wonder why their knight in shining armour, Ms Budge, cant bail them out? Maybe they are skint and have no more money for wages which if so would have the effect of another signing ban extended haha

Cue the cake bake again

I think this gives a clue as to how close they have been to running out of money. Presumably the latest batch of millionaires shortbread is going to pay wages till the end of the season.

That explains why they were so desperate to get an announcement out about the CVA. It appears, however, that they are still living beyond their means. There only hope is a millionaire that will fund the football club out of their own pocket.

By the way, "tumultuous and historic season". They just can't get over their grandiosity - comforting to think they've learned absolutely nothing. They truly think they have been challenging the OF duopoly, and that they need to get in a position of matching them again.

[rcarter1]

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You would think they could only keep going back to fans so many times before they start to get fed up with a Multi millionaire continuing to fleece themBut this is where she has been clever and they have bought into this concept of fans owning the club ,but they probably didn't expect to get bled dry in the process .Think I saw someone on this thread mention that going forward this source of income could be used for player wages so if that's the case they will be forking out for years to come
We could take a leaf out thier book If we had 8 thousand subscribers to leith Lynx that would be some amount of tickets for young kids to boost our attendance .

Its an interesting one. They have begun the habit of paying 'extra' for their football team. Considering their obsession with size and being big, there is every chance they will continue paying over the odds to maintain their balloon like self portrait. In a purely sporting sense, I want to be there when they go POP!

[Eyrie]

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Only Yams could describe a season where they plunge into admin and get relegated as "historic"

I'd prefer it to be "futuristic", as that will mean a second administration when they fail to spend their way out of the "Championship" and the Save Hearts In Trouble diddies cancel the payments to their multi-millionaire owner in disgust.

[GreenCastle]

http://www.heartsfc.co.uk/articles/2...241384_3775759

interesting times still ahead

[MrSmith]

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http://www.heartsfc.co.uk/articles/2...241384_3775759

interesting times still ahead

Definitely interesting times ahead. Although, I must admit after every legal document sentence, I expected there to be a plea for money to assist in getting it completed. However, we must congratulate their fans for keeping the club going - it was some effort!

The real work and troubles begin when exiting administration.

Good luck and dig deep my jumbo friends ...

[Mon Dieu4]

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http://www.heartsfc.co.uk/articles/2...241384_3775759

interesting times still ahead

So with UKIO and UBIGs shares they she gets control of 79% of the Yams and has to offer the other share holders the same deal as UBIG, the small Yam shareholders will agree but doesn't Vlads niece have 15%?, can't see her accepting the square root of **** all, so although they will have a controlling stake does that mean that she and they won't actually own them outright and there is still scope for more Vlad shennigans? Or am I way off the mark?

[MrSmith]

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So with UKIO and UBIGs shares they she gets control of 79% of the Yams and has to offer the other share holders the same deal as UBIG, the small Yam shareholders will agree but doesn't Vlads niece have 15%?, can't see her accepting the square root of **** all, so although they will have a controlling stake does that mean that she and they won't actually own them outright and there is still scope for more Vlad shennigans? Or am I way off the mark?

Good point! Very interesting indeed

[rcarter1]

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So with UKIO and UBIGs shares they she gets control of 79% of the Yams and has to offer the other share holders the same deal as UBIG, the small Yam shareholders will agree but doesn't Vlads niece have 15%?, can't see her accepting the square root of **** all, so although they will have a controlling stake does that mean that she and they won't actually own them outright and there is still scope for more Vlad shennigans? Or am I way off the mark?

Not much she can leverage with only 15% or so, I suspect she can hold on to those for the rest of her days and it wouldn't prevent or stop Hearts from doing or transferring power to fans. In short I don't think anyone needs to own it all outright to do what they want to do with the club.

[Waxy]

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So with UKIO and UBIGs shares they she gets control of 79% of the Yams and has to offer the other share holders the same deal as UBIG, the small Yam shareholders will agree but doesn't Vlads niece have 15%?, can't see her accepting the square root of **** all, so although they will have a controlling stake does that mean that she and they won't actually own them outright and there is still scope for more Vlad shennigans? Or am I way off the mark?

When it's put like that, it sounds like its been just a very clever plan to get rid of all their debt all along.Keeping 15% afterwards also. No point with an investigation.It's a conspiracy

[Springbank]

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http://www.heartsfc.co.uk/articles/2...241384_3775759

interesting times still ahead

The way football works I'd expect the next few months to go as follows:

Hearts start next season with big crowds home and away, as we had in 98/99 (I even took the lady who is now my wife to see Falkirk v Hibs at Brockville to see Big Franck et al)

I remember well the first couple of months of that season though, some dodgy results and a need to sign better players

We could do that whereas in Hearts case it will be seen as the first big test..will Ann Budge? Or will the purse stay shut?

Keep the purse shut, and Hearts will have taken their first baby step to a truly sustainable fan owned club.
But then they'll find that with sustainability comes a lowering of on-field expectations.
They haven't had to face that reality for 30 years and that will hammer them.
With that comes a drifting of the more fickle half of the support.
That - in a two club city - will be quicker to happen if Hibs are tearing up the SPL and doing well in the cups.

It's just the way of things.
7000 crowds at tynecastle and DD's dropping off by February would be realistic to expect.

[brog]

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Why are you multi quoting? oh god your..........

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http://www.heartsfc.co.uk/articles/2...241384_3775759

interesting times still ahead

Indeed & Budgie stating shares will go straight to Bidco! Where's CWG? Also interesting to note today for the first time they acknowledge the potential to still be in admin at start of next season. They say they're confident they'll be ok but I believe if there's any delay at all in what's a complex process then it will be a very close run thing. As you say, interesting times still to come.

[Coco Bryce]

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So with UKIO and UBIGs shares they she gets control of 79% of the Yams and has to offer the other share holders the same deal as UBIG, the small Yam shareholders will agree but doesn't Vlads niece have 15%?, can't see her accepting the square root of **** all, so although they will have a controlling stake does that mean that she and they won't actually own them outright and there is still scope for more Vlad shennigans? Or am I way off the mark?

Wouldn't surprise me in the slightest tbh.

[gorgie greens]

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Indeed & Budgie stating shares will go straight to Bidco! Where's CWG? Also interesting to note today for the first time they acknowledge the potential to still be in admin at start of next season. They say they're confident they'll be ok but I believe if there's any delay at all in what's a complex process then it will be a very close run thing. As you say, interesting times still to come.

So still in admin at the start of the season -15 again ,can only hope,but knowing these rats they will prob be out the day before

[Criswell]

Am I right in thinking they can't sell season tickets till they exit administration? If it drags on throughout the summer you would think they would face a cash-flow problem with no income coming in but wages and overheads still needing to be met. I predict the "begging bowl" will make a re-appearance any time soon!

[Hank Schrader]

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http://www.heartsfc.co.uk/articles/2...241384_3775759

interesting times still ahead

An interesting and informative statement from Anne Budge. Makes a refreshing change from the absolute horse manure press releases on that site during the Romanov years.

Still work to be done until Hearts are 100% safe although I would imagine the hurdles will all be cleared. Its just a matter of whether they can get out of administration before the start of next season.

[jgl07]

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Indeed & Budgie stating shares will go straight to Bidco! Where's CWG?

My understanding is that FOH is composed of two groups: BIDCO (the Biddies) and FANCO (the Fannies). Hence the biddies would make the initial purchase and it would be subsequently be passed over to the Fannies. This would be in line with Budgies' comments.

[Onceinawhile]

Would be fantastic if they were still in admin by the start of next season, would almost guarantee them not coming back up (I wonder if they know they won't be out, hence budgeting for two seasons in the 1st division). They need to get a few players in though, regardless of how well they are playing at the moment.

[EK_Hibs]

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Would be fantastic if they were still in admin by the start of next season, would almost guarantee them not coming back up (I wonder if they know they won't be out, hence budgeting for two seasons in the 1st division). They need to get a few players in though, regardless of how well they are playing at the moment.

They're budgeting for 2 seasons in the Championship because of Sevco.

[jacomo]

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Indeed & Budgie stating shares will go straight to Bidco! Where's CWG? Also interesting to note today for the first time they acknowledge the potential to still be in admin at start of next season. They say they're confident they'll be ok but I believe if there's any delay at all in what's a complex process then it will be a very close run thing. As you say, interesting times still to come.

The reality is that Budgie has been driving this for months. They presented it as a fans takeover until it was no longer tenable to do so. In reality it's nothing of the sort, although to be fair Budgie is saying she wants a legal agreement to hand the club over to the supporters in future - so long as they cough up of course!

[lucky]

Speaking/arguing with yams at the weekend it's clear they just don't get it.
Vlad is still a hero
They are debt free
Big club with big support
5-1 did kill us
They did not steal the poppy money
Hibs are next to go pop
Hibs fans would not have put in the money they did
Sergey is getting hunted down and will pay for his crimes
Vlad never added to their debt
SFA and SPFL are anti Hearts cos of RP
I was never in the camp of wanting them liquidated but now even that's to good for them.

[greenginger]

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My understanding is that FOH is composed of two groups: BIDCO (the Biddies) and FANCO (the Fannies). Hence the biddies would make the initial purchase and it would be subsequently be passed over to the Fannies. This would be in line with Budgies' comments.

Bidco 1874 and Foundation of Hearts are two completely separate companies with different company numbers and no common directors.

Also, I wonder if the Liths are aware they won't be seeing any cash any time soon if the paper work is going to take as long as we hope.

not that it matters, it will all go to BDO anyway for fees.

[HUTCHYHIBBY]

Any news re last Friday's big announcement?

[Ronniekirk]

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Any news re last Friday's big announcement?

Big article in Sundays Scotland on Sunday quoting budge and Jackson etc Usual upbeat stuff but small comment from budge about remembering those that have lost money and jobs and vowing never to return to that . However I see in Dailly record today they are already linked with signing Kris Boyd to spearhead their return to top league

[greenginger]

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Any news re last Friday's big announcement?

Don't know about last Friday's but I just drove down Mcleod Street and there is one of these TV broadcast unit vans in the car park with a few engineer looking guys hanging about.

World Cup stars arriving or Budgie changed her mind ?

[greenlex]

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Don't know about last Friday's but I just drove down Mcleod Street and there is one of these TV broadcast unit vans in the car park with a few engineer looking guys hanging about.

World Cup stars arriving or Budgie changed her mind ?

Can only hope but I reckon their new strip is the commotion.

[jdships]

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The reality is that Budgie has been driving this for months. They presented it as a fans takeover until it was no longer tenable to do so. In reality it's nothing of the sort, although to be fair Budgie is saying she wants a legal agreement to hand the club over to the supporters in future - so long as they cough up of course!

Good points made there !
The club isn't really debt free as they have to reimburse Mrs B before the fans can " take control"
Have had the impression over the last few weeks that this lady is adept at pushing out the spin !
Nothing really new being said just old statements " tarted up"

Think there may well be bit more water to flow under the bridge before the end of may !!

[southsider]

Post admin. nothing will have changed right. Same club, ground strip etc so i dont see why HMRC cannot now go back with a new bill for the unpaid £2,000.000. If it needs a change in the law fine, i am sure our political leaders will be in full agreement.

[Moulin Yarns]

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Post admin. nothing will have changed right. Same club, ground strip etc so i dont see why HMRC cannot now go back with a new bill for the unpaid £2,000.000. If it needs a change in the law fine, i am sure our political leaders will be in full agreement.

And I'm sure we will have one of our resident Financial experts along soon to tell you how that can't happen (IMHO)

[Onceinawhile]

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And I'm sure we will have one of our resident Financial experts along soon to tell you how that can't happen (IMHO)

Hearts don't owe HMRC any money.

Their bill will be settled at 0p in the pound out of the 2.5 million CVA. It's the way business works.