Maple Leaf Posted November 3, 2012 Share Posted November 3, 2012 In response to a number of queries, the JKB admin team is providing a method of collectively purchasing shares in HMFC, further to the recent announcement by the club. All members who want to purchase chares by this method should be aware of the terms and conditions that apply. Terms and Conditions governing the purchase of HMFC shares by Jambos Kickback. 1. Members may donate any amount they wish through Paypal. 2. All monies collected, less Paypal fees, will be used to purchase shares of HMFC 3. The shares will be purchased by Jambos Kickback and will be held in the name of Jambos Kickback. 4. The intent is for the purchased shares to be held in perpetuity. This means that they will not be sold, traded, or transferred by the current management team. However, in the event that the sale of the shares becomes necessary or advisable, any proceeds from the sale will be donated to a worthwhile Scottish charity or to a Hearts-related good cause, in keeping with our donation practice of recent years. 5. Once the shares are purchased there can be no refunds to members. Please use the "Donate" button under the JKB logo at the top of the page. We expect to keep this facility open for about one month. Periodic updates will be posted. We recognise that there are different opinions regarding the share purchase. This thread is only for those who wish to donate. There are other threads available for those who choose not to donate, for whatever reason. Link to comment Share on other sites More sharing options...
Radioactive Mince Posted November 3, 2012 Share Posted November 3, 2012 Glad this has been set up Link to comment Share on other sites More sharing options...
ToadKiller Dog Posted November 3, 2012 Share Posted November 3, 2012 Good move . Link to comment Share on other sites More sharing options...
Groot Posted November 3, 2012 Share Posted November 3, 2012 Cheers guys Link to comment Share on other sites More sharing options...
Guest GhostHunter Posted November 3, 2012 Share Posted November 3, 2012 http://www.hmfckickback.co.uk/index.php?/donate/ Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 3, 2012 Share Posted November 3, 2012 Good stuff. I will contribute something, not sure what yet. Link to comment Share on other sites More sharing options...
Sarah O Posted November 3, 2012 Share Posted November 3, 2012 Nice effort - may donate to this too. (aswell as my own shares) Link to comment Share on other sites More sharing options...
winningways Posted November 3, 2012 Share Posted November 3, 2012 Great idea , gives everyone who wants to help with the share offer a chance to contribute. Link to comment Share on other sites More sharing options...
Tams bird Posted November 3, 2012 Share Posted November 3, 2012 Gives people a change who cant afford the ?110 to contribute... Link to comment Share on other sites More sharing options...
Paolo Posted November 3, 2012 Share Posted November 3, 2012 I intend to buy outright if I can. If not , I most certainly will do this way. If I do, I still might as well. A cracking way for those who can not afford ?100 but want to play their part to do so. Link to comment Share on other sites More sharing options...
ToadKiller Dog Posted November 3, 2012 Share Posted November 3, 2012 Nice effort - may donate to this too. (aswell as my own shares) That's my plan get shares at the midden game for myself and two extra shifts this month of which some will go to kickback share . Link to comment Share on other sites More sharing options...
Guest Dipped Flake Posted November 3, 2012 Share Posted November 3, 2012 working overtime all day today so will be using that money to buy more of my own shares than I originally intended but will put in some money to this too. Great idea Link to comment Share on other sites More sharing options...
Beats Posted November 3, 2012 Share Posted November 3, 2012 Good stuff Link to comment Share on other sites More sharing options...
hughesie27 Posted November 3, 2012 Share Posted November 3, 2012 Will be donating at some point. Thanks! Link to comment Share on other sites More sharing options...
hughesie27 Posted November 3, 2012 Share Posted November 3, 2012 What happens with regards to the benefits if/when we reach the high figures? Link to comment Share on other sites More sharing options...
flecktimus Posted November 3, 2012 Share Posted November 3, 2012 Saved filling in paperwork Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 3, 2012 Share Posted November 3, 2012 What happens with regards to the benefits if/when we reach the high figures? No one on Kickback goes to games so they don't matter... Link to comment Share on other sites More sharing options...
Victor Meldrew Posted November 3, 2012 Share Posted November 3, 2012 In response to a number of queries, the JKB admin team is providing a method of collectively purchasing shares in HMFC, further to the recent announcement by the club. All members who want to purchase chares by this method should be aware of the terms and conditions that apply. Terms and Conditions governing the purchase of HMFC shares by Jambos Kickback. 1. Members may donate any amount they wish through Paypal. 2. All monies collected, less Paypal fees, will be used to purchase shares of HMFC 3. The shares will be purchased by Jambos Kickback and will be held in the name of Jambos Kickback. 4. The intent is for the purchased shares to be held in perpetuity. This means that they will not be sold, traded, or transferred by the current management team. However, in the event that the sale of the shares becomes necessary or advisable, any proceeds from the sale will be donated to a worthwhile Scottish charity or to a Hearts-related good cause, in keeping with our donation practice of recent years. 5. Once the shares are purchased there can be no refunds to members. Please use the "Donate" button under the JKB logo at the top of the page. We expect to keep this facility open for about one month. Periodic updates will be posted. We recognise that there are different opinions regarding the share purchase. This thread is only for those who wish to donate. There are other threads available for those who choose not to donate, for whatever reason. I think this is a great idea, but I'm not sure that you can easily achieve what is set out in the terms and conditions particularly easily, as you would be creating a non-charitable purpose trust. I'm not a Scots lawyer, but I suspect that that isn't possible. The risk if you don't get it sorted out properly at the outset, contributors might be able to demand their contributions back at some point in the future. I suspect that it will be possible to do it, but it won't be straightforward. Link to comment Share on other sites More sharing options...
Marvin Posted November 3, 2012 Share Posted November 3, 2012 Good call - expect my donation in the next couple of weeks. Link to comment Share on other sites More sharing options...
Peebo Posted November 3, 2012 Share Posted November 3, 2012 I think this is a great idea, but I'm not sure that you can easily achieve what is set out in the terms and conditions particularly easily, as you would be creating a non-charitable purpose trust. I'm not a Scots lawyer, but I suspect that that isn't possible. The risk if you don't get it sorted out properly at the outset, contributors might be able to demand their contributions back at some point in the future. I suspect that it will be possible to do it, but it won't be straightforward. Probably a fair point, but if people are likely to cause a legal rammy over their contribution in the future, they'd be advised just to buy shares directly themselves. Link to comment Share on other sites More sharing options...
vintage1874 Posted November 3, 2012 Share Posted November 3, 2012 Great work JKB admins. I will be buying my own shares later in the month but put in a wee donation to the JKB fund in the meantime. Link to comment Share on other sites More sharing options...
kingantti1874 Posted November 3, 2012 Share Posted November 3, 2012 Great work JKB admins. I will be buying my own shares later in the month but put in a wee donation to the JKB fund in the meantime. Same here Link to comment Share on other sites More sharing options...
portobellojambo1 Posted November 3, 2012 Share Posted November 3, 2012 I think this is a great idea, but I'm not sure that you can easily achieve what is set out in the terms and conditions particularly easily, as you would be creating a non-charitable purpose trust. I'm not a Scots lawyer, but I suspect that that isn't possible. The risk if you don't get it sorted out properly at the outset, contributors might be able to demand their contributions back at some point in the future. I suspect that it will be possible to do it, but it won't be straightforward. I cannot offer anything in relation to the above post Maple Leaf, as it is way over my head, but I thought this would be a sensible post to tag onto as what I am about to say could be bracketed under technicalities as well. The share issue has been set up in a way that it is covered and dictated by Securities and Investment law in the UK only, the shares effectively cannot be bought or sold by persons resident overseas, as they will not be registered under their local securities legislation (I believe it is something the club are actively looking into as they have had a number of calls direct from both Australia and the USA from people looking to invest (donate), but who aren't UK resident). Given you are based in Canada, and are the "owner" of JKB I'm not sure if the funds being pooled would therefore be deemed to be coming from a Canadian bank account or if JKB's banking facilities are based in the UK. If it is the former you may wish to contact David Southern to ensure there will be no problems when it comes to making actual payment to the club (assuming HMFC haven't announced anything prior to the date at which JKB plan on making payment). Just thought I'd mention it to you, just in case. Link to comment Share on other sites More sharing options...
grumpyjambo Posted November 3, 2012 Share Posted November 3, 2012 I think this is a great idea, but I'm not sure that you can easily achieve what is set out in the terms and conditions particularly easily, as you would be creating a non-charitable purpose trust. I'm not a Scots lawyer, but I suspect that that isn't possible. The risk if you don't get it sorted out properly at the outset, contributors might be able to demand their contributions back at some point in the future. I suspect that it will be possible to do it, but it won't be straightforward. This. Link to comment Share on other sites More sharing options...
Guest C00l K1d Posted November 3, 2012 Share Posted November 3, 2012 Cheers for that. Already said before i'm a bit skint so can't really afford to give money out atm. Something like this gives the oppurtunity to at least give a wee bit Can imagine this will generate a bit aswell, seeing how well the flag thing done. Link to comment Share on other sites More sharing options...
jamboinglasgow Posted November 4, 2012 Share Posted November 4, 2012 You seem to have missed a rather substantial 'IF' in there somewhere. What makes you think there would be a way back, honourable, successful, or otherwise? And on that basis, I'm in. I can't see any other option. Yup, just look at Rangers, they liquidated and are still in the hands of dodgy people who could plunge them into further problems in the future. Its not so easy to get the club back into honourable hands. Link to comment Share on other sites More sharing options...
kingantti1874 Posted November 4, 2012 Share Posted November 4, 2012 Lets just not take the risk .. Get buying the shares Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 4, 2012 Share Posted November 4, 2012 Lets just not take the risk .. Get buying the shares If you are shiting it as much as your posts suggest, what happens if we raise ?1.75m and your worst case scenario still comes to fruition? Link to comment Share on other sites More sharing options...
Hearts007 Posted November 4, 2012 Share Posted November 4, 2012 personally i think its a good idea,the only thing i would slightly disagree with is..if kickback had to resell the shares i would rather the money just be handed to hearts.Giving the money to charity is a noble and worthwhile idea but charity begins at home Link to comment Share on other sites More sharing options...
kingantti1874 Posted November 4, 2012 Share Posted November 4, 2012 If you are shiting it as much as your posts suggest, what happens if we raise ?1.75m and your worst case scenario still comes to fruition? It maybe well do Geoff ... But If there's a 5% chance it avoids the wscenario then that's a good thing right... Link to comment Share on other sites More sharing options...
kingantti1874 Posted November 4, 2012 Share Posted November 4, 2012 If you are shiting it as much as your posts suggest, what happens if we raise ?1.75m and your worst case scenario still comes to fruition? It maybe well do Geoff ... But If there's a 5% chance it avoids the worst case scenario then that's a good thing right... I genuinely think if we make it to next summer we will finally be in a position where income > costs - Christ knows what we will be left with on the pitch but surely the club will be stable and able to move forward.. Link to comment Share on other sites More sharing options...
Radioactive Mince Posted November 4, 2012 Share Posted November 4, 2012 I haven't bought them yet, but later this month I'll be buying 10,000 shares from the club. In the meantime, I've put ?100 into this fund. Between now and the share issue deadline (Dec 19th?) I'd be very surprised if most folk on here didn't have one to two hundred quid, maybe not spare, but sacrificable elsewhere in their budgets even. Think about it in terms of weeks 'til then... Around 6, so ?16.67 a week put away would give someone enough to invest the minimum from club, anything else they managed to save could be given to the KB fund. If I took sandwich to work instead of buying filled rolls, bridies etc I'd probably be bang on target for ?16 a week right away. If a good number of people could manage this kind of donation between now and then, in a few smaller chunks even, it'd go a long way IMO. I'm no fan of the current regime overall, but this is a suck-it-and-see thing for me - I want to see how many folk give enough of a shit about this club to make a difference and, if it seems we can make a difference collectively, it might be the start of something. The way in which the board utilise the budgets will come under a lot closer scrutiny from fans (investors!) from now on though, I'd imagine. They will have to significantly improve our cash flow situation and hopefully our net debt position if they are ever to ask the support for this kind of help again. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 4, 2012 Share Posted November 4, 2012 It maybe well do Geoff ... But If there's a 5% chance it avoids the worst case scenario then that's a good thing right... I genuinely think if we make it to next summer we will finally be in a position where income > costs - Christ knows what we will be left with on the pitch but surely the club will be stable and able to move forward.. See, I'm not shiting it because I'm still of the belief that Vlad has much more to lose than we do. I will contribute though, not the 110 quid that has been asked for but I will chuck an amount to be determined into the Kickback fund. Link to comment Share on other sites More sharing options...
kljambo Posted November 4, 2012 Share Posted November 4, 2012 still have not worked out how to buy the club shares from overseas can anybody help..?Will also chip in here when it is up and running Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 4, 2012 Share Posted November 4, 2012 still have not worked out how to buy the club shares from overseas can anybody help..?Will also chip in here when it is up and running You basically need the help of someone 'onshore' to complete the transaction. Link to comment Share on other sites More sharing options...
WeeToonJambo Posted November 4, 2012 Share Posted November 4, 2012 I'm in the fortunate position of being able to go to away games as a concession. That means that I've saved ?15 over the two games up in Dundee this week. What I save I'll chip in to Kickback's share purchase, as well as having bought my own shares. I can't make Inverness next week (going to a wedding) so what that would cost is also going in. Every little helps. Link to comment Share on other sites More sharing options...
J Cheever Loophole Posted November 4, 2012 Share Posted November 4, 2012 personally i think its a good idea,the only thing i would slightly disagree with is..if kickback had to resell the shares i would rather the money just be handed to hearts.Giving the money to charity is a noble and worthwhile idea but charity begins at home This,I've donated to help only HMFC on this occasion,the charities will continue to get my help in the way they have always got my donations.. Link to comment Share on other sites More sharing options...
Maple Leaf Posted November 4, 2012 Author Share Posted November 4, 2012 I think this is a great idea, but I'm not sure that you can easily achieve what is set out in the terms and conditions particularly easily, as you would be creating a non-charitable purpose trust. I'm not a Scots lawyer, but I suspect that that isn't possible. The risk if you don't get it sorted out properly at the outset, contributors might be able to demand their contributions back at some point in the future. I suspect that it will be possible to do it, but it won't be straightforward. Thanks for your comments. We think that the Terms and Conditions are clear. 5. Once the shares are purchased there can be no refunds to members. This is an opportunity for JKB members to DONATE money to the club. Anyone who thinks that this is an investment opportunity, and will result in personal ownership of shares, is mistaken and should not participate. In my opinion, there is no legal ambiguity. Link to comment Share on other sites More sharing options...
Maple Leaf Posted November 4, 2012 Author Share Posted November 4, 2012 I cannot offer anything in relation to the above post Maple Leaf, as it is way over my head, but I thought this would be a sensible post to tag onto as what I am about to say could be bracketed under technicalities as well. The share issue has been set up in a way that it is covered and dictated by Securities and Investment law in the UK only, the shares effectively cannot be bought or sold by persons resident overseas, as they will not be registered under their local securities legislation (I believe it is something the club are actively looking into as they have had a number of calls direct from both Australia and the USA from people looking to invest (donate), but who aren't UK resident). Given you are based in Canada, and are the "owner" of JKB I'm not sure if the funds being pooled would therefore be deemed to be coming from a Canadian bank account or if JKB's banking facilities are based in the UK. If it is the former you may wish to contact David Southern to ensure there will be no problems when it comes to making actual payment to the club (assuming HMFC haven't announced anything prior to the date at which JKB plan on making payment). Just thought I'd mention it to you, just in case. PJ1, thanks for the heads-up. I'll get clarification from the club. Either way, this will not be an issue. If the shares have to be bought through a UK bank, and registered to a UK address, that's what we'll do. Link to comment Share on other sites More sharing options...
kljambo Posted November 4, 2012 Share Posted November 4, 2012 You basically need the help of someone 'onshore' to complete the transaction. ivc Link to comment Share on other sites More sharing options...
Mr Orange Posted November 4, 2012 Share Posted November 4, 2012 Will the admins be using the shares JKB members buy in order to lobby the club without consulting them again? If so count me out. Link to comment Share on other sites More sharing options...
Maple Leaf Posted November 4, 2012 Author Share Posted November 4, 2012 Will the admins be using the shares JKB members buy in order to lobby the club without consulting them again? If so count me out. We'll not be lobbying the club. The sole purpose of this venture is to raise money for HMFC. Link to comment Share on other sites More sharing options...
Mr Orange Posted November 4, 2012 Share Posted November 4, 2012 We'll not be lobbying the club. The sole purpose of this venture is to raise money for HMFC. well I'm sure the money used to sponsor players etc was never meant for lobbying purposes either and we both know how that ended so you can appreciate my scepticism. Link to comment Share on other sites More sharing options...
Mr Loverman Posted November 4, 2012 Share Posted November 4, 2012 Will the admins be using the shares JKB members buy in order to lobby the club without consulting them again? If so count me out. Has this happened before? Link to comment Share on other sites More sharing options...
Tiberius Stinkfinger Posted November 4, 2012 Share Posted November 4, 2012 When will I be getting the credit I so richly deserve for coming up with this wonderful idea ??? http://www.hmfckickback.co.uk/index.php?/topic/119542-exciting-announcement-club-launches-share-offer/page__st__350#entry3209532 Seething Link to comment Share on other sites More sharing options...
Mr Orange Posted November 4, 2012 Share Posted November 4, 2012 I won't help Hearts because I do not trust kickback. Evidently it is easier for me to sit here and turn my nose up at the scheme as i have the cash available to buy shares myself. For those who don't have the money I suppose there isnt much choice but to contribute to a scheme such as this. Link to comment Share on other sites More sharing options...
Maple Leaf Posted November 4, 2012 Author Share Posted November 4, 2012 When will I be getting the credit I so richly deserve for coming up with this wonderful idea ??? http://www.hmfckickb...50#entry3209532 Seething Good man!! Link to comment Share on other sites More sharing options...
kingantti1874 Posted November 4, 2012 Share Posted November 4, 2012 See, I'm not shiting it because I'm still of the belief that Vlad has much more to lose than we do. I will contribute though, not the 110 quid that has been asked for but I will chuck an amount to be determined into the Kickback fund. See I'm with you - but starting to come to the conclusion given events elsewhere in vlads empire that either he, nor UBIG have the ability o pay the bills... Link to comment Share on other sites More sharing options...
Francis Albert Posted November 4, 2012 Share Posted November 4, 2012 If you are shiting it as much as your posts suggest, what happens if we raise ?1.75m and your worst case scenario still comes to fruition? We all (well most of us ) save money which we'd have otherwise spent supporting Hearts - a helluva lot more money than we are putting into the share scheme. A win-win in my eyes! Link to comment Share on other sites More sharing options...
Konrad von Carstein Posted November 4, 2012 Share Posted November 4, 2012 Random musing on my part, but should this thread not be stickied? Link to comment Share on other sites More sharing options...
.thumb.jpg.b9f3dafb9340db001acb1c380b2d2592.jpg)
Recommended Posts
Archived
This topic is now archived and is closed to further replies.