Companies House documents

[Footballfirst]

Hearts have lodged a number of documents at Companies House within the last few days that have only been made available today.

 

 

There is nothing untoward about them, but I see that Craig Levein has been appointed to the Board as a director of Heart of Midlothian PLC, which is a bit more than just "Director of Football". It may be that his assigned responsibilities remain solely that of DoF, but as a Director of the club he also has fiduciary responsibilities to the shareholders that go with it. I'm surprised that Ann Budge hasn't made this appointment clearer.

 

One or more documents that haven't been lodged are those that were promised by Ann Budge during the week of 17th September. One was to be submitted that week and another following a board meeting re the allotment of new shares related to the 2012 share offer. Has there been another hold up in this process?

[DETTY29]

When the list of BoDs went up on the new website, Craig was recognised as a board director.

 

http://www.heartsfc.co.uk/pages/club

 

I'm sure Ann Budge also said way back in May, CL was joining the board.

[DETTY29]

And the article back in May.

 

I was of the view Craig was becoming a formal director of the board.

 

http://www.heartsfc.co.uk/news/3671

 

Board Level Changes

A new Board of Directors is being put in place over the next few days

Ann Budge: Chairman/CEO

Robert Wilson: Deputy CEO/Director of Strategic Planning

Eric Hogg: Operations Director

Craig Levein: Director of Football

Ian Murray (Chair of FOH): Foundation of Hearts Representative

 

The Board will be expanded over time to include another non-executive Director, with a strong financial background, and a second FOH Director, to further represent the fans.

[Footballfirst]

When the list of BoDs went up on the new website, Craig was recognised as a board director.

 

http://www.heartsfc.co.uk/pages/club

 

I'm sure Ann Budge also said way back in May, CL was joining the board.

 

I must have missed that one. It's just a bit odd that the appointment has only just been notified now. The others were notified to Companies House in May.

[Thomaso]

I'm saying nothing until I hear from Sergay on this.....

[DETTY29]

I must have missed that one. It's just a bit odd that the appointment has only just been notified now.

Maybe he was getting up to speed with what the duties of a company director entails....

 

Not sure of his duties at Dundee United but from Wiki, suggesting on the board rather than reporting to...

 

From wiki

 

Dundee United

 

He was unveiled to the press on 30 October 2006.^[5] Levein guided United to four successive home victories, earning him 'Manager of the Month' for November 2006, later repeating the award in March 2007 and again in October 2007. On 21 January 2008 he was appointed Director of Football at the club, giving him a seat on the Board of Directors in addition to his existing managerial responsibilities. In August 2008, he was fined ?5000 by the SFA for accusing a referee of bias after a game against Rangers.

[2NaFish]

i seem to recall it being fairly public knowledge that craig would be on the board

[Footballfirst]

Maybe he was getting up to speed with what the duties of a company director entails....

 

Not sure of his duties at Dundee United but from Wiki, suggesting on the board rather than reporting to...

 

From wiki

 

Dundee United

 

He was unveiled to the press on 30 October 2006.^[5] Levein guided United to four successive home victories, earning him 'Manager of the Month' for November 2006, later repeating the award in March 2007 and again in October 2007. On 21 January 2008 he was appointed Director of Football at the club, giving him a seat on the Board of Directors in addition to his existing managerial responsibilities. In August 2008, he was fined ?5000 by the SFA for accusing a referee of bias after a game against Rangers.

 

I was aware of him being on the Board at United but I did genuinely miss his appointment as an executive director at Hearts.

[DETTY29]

I was aware of him being on the Board at United but I did genuinely miss his appointment as an executive director at Hearts.

And with him being a DU director he would have an idea of his duties so it is fair to ask why it has taken 5 months to formally appoint him.

[1874robbo]

Genuine question, is it really a big deal?

[The Treasurer]

Is it just me or does anyone else think that FF is becoming more and more like a certain poster who starts numerous threads about the FoH

[Alva-Jambo]

I'm glad CL is in the boardroom, I'd like him with us a long time.

 

Noted he got a 5K fine for suggesting a Ref was biased in favour of Rangers back then. I like people who are not afraid to go against the SFA's pro Rangers

bias. I do remember that.

[Guest Bilel Mohsni]

An extremely good guy to have on your side, is my feeling. Good to have a football man in the boardroom too, I would suppose.

 

I wasnt aware he was a director of the board either though, so good to know. Ta.

 

 

[Gorgie_Rules]

Is it just me or does anyone else think that FF is becoming more and more like a certain poster who starts numerous threads about the FoH

 

I think its important that there is fans out there that question the work and methods of the regime. Not in a critical way, but to ensure things are being run the best way possible.

 

As mentioned happy to have a football man in CL on the board

[Eldar Hadzimehmedovic]

An extremely good guy to have on your side, is my feeling. Good to have a football man in the boardroom too, I would suppose.

 

I wasnt aware he was a director of the board either though, so good to know. Ta.

 

Craig Levein and Hearts just go together. I hope he's around for a long time.

[Guest Bilel Mohsni]

 

 

Craig Levein and Hearts just go together. I hope he's around for a long time.

 

Me too. He gives us a backroom strength, that makes me feel confident... similar to the way he strengthened our defence.

[Footballfirst]

Is it just me or does anyone else think that FF is becoming more and more like a certain poster who starts numerous threads about the FoH

 

That's for you to judge.

 

Let's say I do share some reservations re FOH with another poster, and as a shareholder I'm also prepared to ask questions of the current board, regardless of the esteem with which they are currently held.

[Unknown user]

 

 

Craig Levein and Hearts just go together. I hope he's around for a long time.

 

Exactly my thoughts.

If this is him settling in for the long haul, I'd be effing delighted.

[Prince Buaben]

I'm glad CL is in the boardroom, I'd like him with us a long time.

 

Noted he got a 5K fine for suggesting a Ref was biased in favour of Rangers back then. I like people who are not afraid to go against the SFA's pro Rangers

bias. I do remember that.

 

Sure thats the one he refused to pay.

[Mr Sifter]

Nothing much to add other than, although I might've picked it up wrongly, I've been under the impression for ages that CL was to be a board member.

 

I'm actually a bit surprised that someone as clued up as FF didn't know. Anyhow, on the subject of FF questioning FOH, I've no problems with that. He seems to be a knowledgable guy, and nine times out of ten he's asking questions that I'd not even thought of!

[Don Dan]

The more questions asked the better, proviso they need to be sensible ones. I knew Craig was Director of Football but assumed that gave a seat on the Board, but in my ignorance I never new that they were separate positions.

It's great to have an actual football minded representive on the Board even better that he is a strong willed no nonsense guy.

[Paolo]

 

 

That's for you to judge.

 

Let's say I do share some reservations re FOH with another poster, and as a shareholder I'm also prepared to ask questions of the current board, regardless of the esteem with which they are currently held.

 

And as a shareholder (including pre Vlad shares) and an FoH member, I am glad you, and a certain other poster, does this.

[Getintaethem]

It would be crazy for the guy in charge of football operations NOT to be on the board.

[Paolo]

It would be crazy for the guy in charge of football operations NOT to be on the board.

 

It wouldn't be, given being on the board gives you numerous legal responsibilities with regards to the financial state of the club. This is a far bigger responsibility that most football people would take on. It would be like a Customer Services Manager being on the Board of a company.

[Guest oldcastlerock2012]

Not to have a football representative on the board would be strange to me. We're a football club and need to have football people involved in all decision-making at the top level.

[bn jambo]

Craig being on the board makes me happy, he is here for the long term implimenting his vision of how a football team should be run,he is doing a sterling job and his board position will be unpaid.

I honestly think Heart of midlothian is safe in the hands of Ann and the current board, hopefully when elections are held and after that the move to full fan ownership is put in place the majority of the current board remain to guide us to the position and success we all want !!!

[Paolo]

Not to have a football representative on the board would be strange to me. We're a football club and need to have football people involved in all decision-making at the top level.

 

That is a fair point. It does come with a lot of legal responsibilities, though, with regards to finance. Some of which, some football people may not appreciate or have any clue about.

[Gregory House M.D.]

I thought DoF's were on clubs boards TBH. Hence Director of Football.

 

Regardless, as soon as CL was announced he was named as the footballing director on the board.

[2NaFish]

I thought DoF's were on clubs boards TBH. Hence Director of Football.

 

Regardless, as soon as CL was announced he was named as the footballing director on the board.

 

I'd imagine very few DOFs are on the club's board. The guy who fixes chairs may be the chairman, but he's not the chairman.

 

Wait. That's shit. Anyway. DoF is just a title.

[jambos are go!]

 

 

 

That's for you to judge.

 

Let's say I do share some reservations re FOH with another poster, and as a shareholder I'm also prepared to ask questions of the current board, regardless of the esteem with which they are currently held.

The bottom line is how will the end game play out when full transfers to FOH is due. There are many scenarios that either please or worry me that might be different to your outlook. We can only wait but I'm an optimist.

[luckydug]

That's for you to judge.

 

Let's say I do share some reservations re FOH with another poster, and as a shareholder I'm also prepared to ask questions of the current board, regardless of the esteem with which they are currently held.

 

 

I am sure the current Hearts board will welcome all relevant questions and answer to the best of their ability.

i am sure that lots of people have/had reservations about FOH but it was/is the only show in town. At the moment things are progressing nicely.

The challenge will come when we convert to fan ownership. I think it is a good thing that the club is not being rushed into fan ownership so that the club is in the best possible financial position when the time comes. A plan has been set out and we should stick to it even though we are probably ahead of schedule financially.

[itsnomarooned]

 

That's for you to judge.

 

Let's say I do share some reservations re FOH with another poster, and as a shareholder I'm also prepared to ask questions of the current board, regardless of the esteem with which they are currently held.

 

What are your reservations and why do you think there may be issues. Not being antagonistic here, genuinely interested. The FOH and Board must be fully accountable so no problem with questions put to them.

 

 

Sent from my iPad using Tapatalk HD

[Footballfirst]

What are your reservations and why do you think there may be issues. Not being antagonistic here, genuinely interested. The FOH and Board must be fully accountable so no problem with questions put to them.

 

 

Sent from my iPad using Tapatalk HD

 

I've expressed them many times in previous posts. They mainly relate to the structure of the deal. i.e. the 5 year time scale and the ?8M potential cost to fans before FOH even gets to own even one share. Failure to achieve promotion within two years would also create risks that fan ownership may never be achieved if there was a significant drop off in pledges. Lets hope that my concerns are not tested.

[colinmaroon]

When the list of BoDs went up on the new website, Craig was recognised as a board director.

 

http://www.heartsfc.co.uk/pages/club

 

I'm sure Ann Budge also said way back in May, CL was joining the board.

 

 

 

Correct!

 

It's been my clear understanding from way back then that CL would be on the board as a full-fledged director of the company.

[Phil D. Corners]

Director becomes director shock.

[Guest oldcastlerock2012]

I've expressed them many times in previous posts. They mainly relate to the structure of the deal. i.e. the 5 year time scale and the ?8M potential cost to fans before FOH even gets to own even one share. Failure to achieve promotion within two years would also create risks that fan ownership may never be achieved if there was a significant drop off in pledges. Lets hope that my concerns are not tested.

 

To be honest while I like the idea of fan ownership I don't really care who owns us so long as they have the club's best interests at heart and run us properly. I honestly can't see Hearts fan Ann Budge saving us only to then leave us in the crap if for some reason we need more than 5 years to raise enough to buy the club from her. We now have grown-ups running the club and I'm sure things will be sorted out to everyone's satisfaction. Either the deal will go through as planned or an alternative deal will be struck. I'd be more than happy to have Budge at the helm for 10 years if she carries on the way she has so far.

[Guest oldcastlerock2012]

That is a fair point. It does come with a lot of legal responsibilities, though, with regards to finance. Some of which, some football people may not appreciate or have any clue about.

 

So long as someone on the board can use a calculator I'm happy.

[Francis Albert]

I won't bore people with my own reservations yet again. But the aversion to even discussing, commenting on or questioning FoH seems to me unhealthy and a risk to the FoH "project".

[jambo mark]

The strength of Sir Alex and the intelligence of Wenger.

 

Great guy to have on board

[jambo mark]

The strength of Sir Alex and the intelligence of Wenger.

 

Great guy to have on board

[Pants Shaton]

This was all made clear months ago.

 

Totally transparent.

[fabienleclerq]

Is it just me or does anyone else think that FF is becoming more and more like a certain poster who starts numerous threads about the FoH

I think FF does it without being negative, he's very matter of fact about it and doesn't seem as attention seeking as some. I'm glad someone who understands a lot of the buisness side of things enough to be able to question those in charge is there tbh. If anyone on JKB was to get my vote for board member it'd be FF.

[alwaysthereinspirit]

 

It would be crazy for the guy in charge of football operations NOT to be on the board.

Unless your name was let's say for $#its and giggles Ally McCoist.

[Kiwidoug]

Dr Ann Cochrane Cook Walace Budge.

 

Didn't know she was a doctor.

 

What kind of doctor is she?

[Paolo]

A love doctor.

[scott herbertson]

Dr Ann Cochrane Cook Walace Budge.

 

Didn't know she was a doctor.

 

What kind of doctor is she?

 

She has a psychology degree from Strathclyde University after graduating with a doctorate in 1970. She is also an Honorary graduate of Edinburgh Napier University and undertook an MBA with the University of Edinburgh in 1992.

 

she can read your mind, Doug

[The Treasurer]

I think FF does it without being negative, he's very matter of fact about it and doesn't seem as attention seeking as some. I'm glad someone who understands a lot of the buisness side of things enough to be able to question those in charge is there tbh. If anyone on JKB was to get my vote for board member it'd be FF.

I'm all for legitimate questions being raised about all aspects of the club, including FoH.

The last thing I want to see is any one person or group given a free reign to do what they want (we've seen in the past what can happen!!!)

I just think there is a fine line between questioning and nitpicking. This line has been crossed or at least blurred too often IMO.

[RealMaroonCF]

 

 

I've expressed them many times in previous posts. They mainly relate to the structure of the deal. i.e. the 5 year time scale and the ?8M potential cost to fans before FOH even gets to own even one share. Failure to achieve promotion within two years would also create risks that fan ownership may never be achieved if there was a significant drop off in pledges. Lets hope that my concerns are not tested.

 

For those who would support FF and vote him on the board, I'd like to place myself in direct opposition.

 

I find negative questioning of completely sensible things like the 'deal' we have to be nothing more than pedantic.

 

We - the foh members - will be paying Anne the 2.5m she put up personally plus a tiny amount of interest. That's the cost of getting the club. All of the other pledges we have made, would have made were needed to get the club on an even keel anyway, and make waiting the deal, sensible.

 

Foh, at the time would have contacted Anne and said "will you help us out". She'll have replied "no problem, but you cant guarantee my money back until the club is completely back on its feet. So, if the fans want to own the club, they'll need to meet the costs of getting back to the top and making the club sustainable....they'd have to do that tomorrow, even if you had the 2.5m to buy these shares yourselves, right now. So, I, for free, will set up and run the club. I'll use my business back ground to get a board together that will be the envy of every club in scotland. You get members and pledges running. If I do my part and you do yours, we'll have a successful club that makes more money than it has before, more people will want to watch us, hat will get even more people investing in foh, and on those terms, Heart of Midlothian will be 'in the fans hands' sooner than expected, and I'm the best health of almost all of scottish football."

 

"Deal?"

 

"Yes. It's a deal. Thanks Anne."

 

And the rest.....is history. Take my pledge until I die. As long as every penny is absolutely required, and stays in gorgie, I trust my fellow pledgers, the fans and the board.

[Unknown user]

For those who would support FF and vote him on the board, I'd like to place myself in direct opposition.

 

I find negative questioning of completely sensible things like the 'deal' we have to be nothing more than pedantic.

 

We - the foh members - will be paying Anne the 2.5m she put up personally plus a tiny amount of interest. That's the cost of getting the club. All of the other pledges we have made, would have made were needed to get the club on an even keel anyway, and make waiting the deal, sensible.

 

Foh, at the time would have contacted Anne and said "will you help us out". She'll have replied "no problem, but you cant guarantee my money back until the club is completely back on its feet. So, if the fans want to own the club, they'll need to meet the costs of getting back to the top and making the club sustainable....they'd have to do that tomorrow, even if you had the 2.5m to buy these shares yourselves, right now. So, I, for free, will set up and run the club. I'll use my business back ground to get a board together that will be the envy of every club in scotland. You get members and pledges running. If I do my part and you do yours, we'll have a successful club that makes more money than it has before, more people will want to watch us, hat will get even more people investing in foh, and on those terms, Heart of Midlothian will be 'in the fans hands' sooner than expected, and I'm the best health of almost all of scottish football."

 

"Deal?"

 

"Yes. It's a deal. Thanks Anne."

 

And the rest.....is history. Take my pledge until I die. As long as every penny is absolutely required, and stays in gorgie, I trust my fellow pledgers, the fans and the board.

 

Well you can guarantee not counting on my vote, I see zero point in voting someone in to smile and nod

[RealMaroonCF]

That's fair enough smithee. It's a democracy and no matter what, we will all have our personal opinions and agendas. That is unavoidable.

 

My point still stands that the deal we have took a lot of effort to get up and running. I'm my view we would now have no club if that deal wasn't struck.

 

I see the benefits of the deal, and I understand it.

 

I really think that we should draw the line on questioning it at this time. We should look forward. What can we achieve today that helps us tomorrow?

 

I put it plain and simple that to even be able to question the deal, wouldn't be possible if it wasn't in place. I thinks it's bad manners.

 

I would love nothing more than Anne budge to actually give a session on the ins and outs of it. Just so she could define the dividing line between a proven business woman who knows what she's talking about, and people who thought a few pledges would take a club 30m in debt, into their hands the next day.

 

Sometimes, you just have to nod, cause someone else knows better than you do.