FoH - final installment of BidCo payment made - share transfer likely in April

[One five]

I just opened up the email , look forward to us owning our club soon 👏

[bn jambo]

Wait a minute, what am i missing here? The final payment has been paid, all that remains is the transfer of shares?

[jake]

I'm going with the good spirit of the OP.

 

YA FEKIN BEAUTY 

 

 

[Geoff Kilpatrick]

Just now, bn jambo said:

Wait a minute, what am i missing here? The final payment has been paid, all that remains is the transfer of shares?

Yes, which isn't happening for a few months.

[Hungry hippo]

1 minute ago, bn jambo said:

Wait a minute, what am i missing here? The final payment has been paid, all that remains is the transfer of shares?

 

Owning shares is a pretty integral part of owning the club. It will happen but Ann Budge (via Bidco) definitely still owns the majority of the club until that happens.

[Jeff]

Never got an email. Taking this to Judge Rinder

[Blackshades]

Is that like paying the last payment of your mortgage .just for the building society to say great now you can own your house in two months .strange

[bn jambo]

2 minutes ago, Geoff Kilpatrick said:

Yes, which isn't happening for a few months.

In that case, i'll celebrate twice 😁 

Do we still need to pay for the transfer of shares?

[davemclaren]

1 minute ago, bn jambo said:

In that case, i'll celebrate twice 😁 

Do we still need to pay for the transfer of shares?

Yes. 

[a11ank]

I'm pretty chuffed to have been a part of this!

[bn jambo]

Just now, davemclaren said:

Yes. 

Balls, can you disappear this thread and bring it back later dave 😁👍🇱🇻

[Toxteth O'Grady]

8 minutes ago, Geoff Kilpatrick said:

Yes, which isn't happening for a few months.

Ur thu shares FROZUN?

 

 

[Hungry hippo]

4 minutes ago, Blackshades said:

Is that like paying the last payment of your mortgage .just for the building society to say great now you can own your house in two months .strange

 

It was mentioned at the AGM. From memory, I think AB said they'd been advised for accountancy reasons to delay the transfer slightly.

[Footballfirst]

FOH doesn't own anything yet. 

 

The shares have still to be purchased from Bidco, although the price is fixed at £100,000, i.e. less than one month's pledges, which should collected in the first few days of this month.

[Victorian]

How are Hibs getting on with their version?

 

[jr ewing]

4 minutes ago, Hungry hippo said:

 

It was mentioned at the AGM. From memory, I think AB said they'd been advised for accountancy reasons to delay the transfer slightly.

Saves getting charged twice. 

[Pilmuir]

Great news, well done FoH contributors.

[Birregrande]

16 minutes ago, Victorian said:

How are Hibs getting on with their version?

 

Thank you! 

[1971fozzy]

Proud to read that email. 
we bicker and squabble and talk crap. But we are without doubt an amazing support. To reach this milestone is absolutely amazing. Well done everyone.  Proud Proud day with the transfer day still to come

[Cruyff]

31 minutes ago, Jeff said:

Never got an email. Taking this to Judge Rinder

Here it is. 

[Mikey1874]

I always said this was good to do gradually. Get used to the idea. Build the club. 

 

But also exciting to do at the same time as Stendel is reinvigorating the club. 

[132goals1958]

2 minutes ago, 1971fozzy said:

Proud to read that email. 
we bicker and squabble and talk crap. But we are without doubt an amazing support. To reach this milestone is absolutely amazing. Well done everyone.  Proud Proud day with the transfer day still to come

 

No way is that e mail being discarded in the bin,

[kingantti1874]

37 minutes ago, Blackshades said:

Is that like paying the last payment of your mortgage .just for the building society to say great now you can own your house in two months .strange

not really, takes a While for them to send the deeds.. relax 

[Jeff]

6 minutes ago, Cruyff said:

Here it is. 

 

That's not the point. Feeling quite lonely without my own email

[Jeff]

Oh wait it's in my Spam

[Francis Albert]

44 minutes ago, Hungry hippo said:

 

It was mentioned at the AGM. From memory, I think AB said they'd been advised for accountancy reasons to delay the transfer slightly.

I think it was until June to coincide with financial year end so about 5 months to go. But fair to say nothing can now stop us from owning the club so the celebratory OP is justified. Happy days.

 

(Especially if we are still a Premiership team in June)

[kingantti1874]

I haven’t made it to a single event to pick up rewards.. anyone know if you can do this retrospectively

[151]

Just opened the email, was half hoping it would be my nearly 2 year overdue plot ceremony invitation.

[Heartsofgold]

I'm sitting here in tears like a sap.  The same tears, well similar, I shed on the day we went into administration fearing that I was about to lose the only football club for me.

 

Now, we are about to own that same club.  Me, you, every pledger to the Foundation.

 

Well done you magnificent, magnificent set of arseholes.

[the jambo poet]

Great news. Great fans. Great club

[Last Laff]

31 minutes ago, Jeff said:

 

That's not the point. Feeling quite lonely without my own email

Check your clutter folder 👍

[Last Laff]

31 minutes ago, Jeff said:

Oh wait it's in my Spam

😂

[Selkirkhmfc1874]

Received this email aswell , exciting times ahead because now the money raised can be used for other things by the football club going forward 

[ollie2004]

FANtastic news!

Well done all who supported this epic achievement.

[kingantti1874]

17 minutes ago, Wham Bam Austin McCann said:

Just opened the email, was half hoping it would be my nearly 2 year overdue plot ceremony invitation.

probably in your junk. That’s where I found mine 3 weeks after it was passed

[Psychedelicropcircle]

1 hour ago, Blackshades said:

Is that like paying the last payment of your mortgage .just for the building society to say great now you can own your house in two months .strange

As of next month my FOH contribution will be going towards my mortgage!

 

 

cant believe I own Tynecastle but still have a mortgage 🤪

[1971fozzy]

7 minutes ago, Selkirkhmfc1874 said:

Received this email aswell , exciting times ahead because now the money raised can be used for other things by the football club going forward 

Indeed. It’s going to be magnificent. 

[BelgeJambo]

Time for a big perrrrty. 😀😀😀🤪🤪🤪

[portobellojambo1]

53 minutes ago, the jambo poet said:

Great news. Great fans. Great club

 

Only opinion but mine is that possibly the hard work starts after the next couple of months, when the final payment is made to secure the transfer of the shares. I say hard work, truth is that common sense is maybe closer to the mark. We have to look to make sure that where the contributors are asked to vote they do so sensibly and look to participate in appointing people who can bring benefit to the football club. I do believe the last period has shown that appointing the correct people instead of appointing just friends, ex players and the likes, for example,  is the best way to act as the major shareholding in the club. In saying that I guess every appointment has an element of risk about it, the best we can do as contributos is to be sensible and try where possible to reduce that risk

Edited February 4, 2020 by portobellojambo1

[Pans Jambo]

19 minutes ago, portobellojambo1 said:

 

Only opinion but mine is that possibly the hard work starts after the next couple of months, when the final payment is made to secure the transfer of the shares. I say hard work, truth is that common sense is maybe closer to the mark. We have to look to make sure that where the contributors are asked to vote they do so sensibly and look to participate in appointing people who can bring benefit to the football club. I do believe the last period has shown that appointing the correct people instead of appointing just friends, ex players and the likes, for example,  is the best way to act as the major shareholding in the club. In saying that I guess every appointment has an element of risk about it, the best we can do as contributos is to be sensible and try where possible to reduce that risk

I agree with all of that but it's hard to vote when you dont know who it is you are voting for. Like most FoH contributors I would guess they dont have half a clue about who the board are, what they do or what they can bring to the FoH and the club.

We should have a "FoH has got talent" type competition to see who's who and what they offer.

 

Am I right in saying that the FoH board will put forward some of its members to sit on the Hearts board (so the FoH will have a say in but not actually be running the club by itself)?

[portobellojambo1]

15 minutes ago, Pans Jambo said:

I agree with all of that but it's hard to vote when you dont know who it is you are voting for. Like most FoH contributors I would guess they dont have half a clue about who the board are, what they do or what they can bring to the FoH and the club.

We should have a "FoH has got talent" type competition to see who's who and what they offer.

 

Am I right in saying that the FoH board will put forward some of its members to sit on the Hearts board (so the FoH will have a say in but not actually be running the club by itself)?

 

I think the bit about the board make up is maybe a bit open ended at the moment. I think a lot depends on who decides to stay in position on the board. Craig Levein is already off the board, and as yet no Sporting Director has been appointed, and once appointed will his/her position gain an automatic place on the club board. In addition I'm still not convinced Ann Budge will stay in place and if she doesn't I'd guess Eric Hogg would also step down. So there is potential that replacements will need to be appointed, by someone (will that default to the contributors or be a vote by the FOH directors.  At the moment FoH appoint two representatives direct to the board, that again might have to change, as it seems reasonable to assume that the majority shareholding would like to be in a position to have some sort of influence if any voting is done on a straight vote of the 7 board members rather than based on the shareholding those board members represent (i.e. one could say that effectively the two FoH board members are represnting roughly 75% of the overall shareholding. Although in saying all that I'd hope it will be highly unlikely that a situation will arise where there is much if any disagreement amongst the board members). Not much help regards the questions you ask, but hopefully everything will become a little clearer in the not too distant future.

Edited February 4, 2020 by portobellojambo1

[Section Q]

Well that's that then.....Job done.....!!👍

[Bozi]

We made this happen, we own the future, never again will we need to be pulled back from the brink, I don't care what anyone else says WE are the greatest fans in the world.

 

Congrats to each and every pledger

[Pans Jambo]

25 minutes ago, portobellojambo1 said:

 

I think the bit about the board make up is maybe a bit open ended at the moment. I think a lot depends on who decides to stay in position on the board. Craig Levein is already off the board, and as yet no Sporting Director has been appointed, and once appointed will his/her position gain an automatic place on the club board. In addition I'm still not convinced Ann Budge will stay in place and if she doesn't I'd guess Eric Hogg would also step down. So there is potential that replacements will need to be appointed, by someone (will that default to the contributors or be a vote by the FOH directors.  At the moment FoH appoint two representatives direct to the board, that again might have to change, as it seems reasonable to assume that the majority shareholding would like to be in a position to have some sort of influence if any voting is done on a straight vote of the 7 board members rather than based on the shareholding those board members represent (i.e. one could say that effectively the two FoH board members are represnting roughly 75% of the overall shareholding. Although in saying all that I'd hope it will be highly unlikely that a situation will arise where there is much if any disagreement amongst the board members). Not much help regards the questions you ask, but hopefully everything will become a little clearer in the not too distant future.

Interesting stuff PJ1 👍

[Radio Ga Ga]

£10,000,000 nearly £10,000,000 outstanding!

[Boab]

2 hours ago, Victorian said:

How are Hibs getting on with their version?

 

Don’t panic, they’re on it !

 

[Coburg Hearts]

9 minutes ago, Boab said:

Don’t panic, they’re on it !

 

Wtf are they proclaiming now?

[Victorian]

14 minutes ago, Boab said:

Don’t panic, they’re on it !

 

 

Ah yes,   those renowned PHCs (proper Hibs c.... ) and long standing champions of the common man Leith community who could probably afford to buy the club three times over.   Each.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

But don't.

 

Edited February 4, 2020 by Victorian

[Francis Albert]

1 hour ago, Pans Jambo said:

I agree with all of that but it's hard to vote when you dont know who it is you are voting for. Like most FoH contributors I would guess they dont have half a clue about who the board are, what they do or what they can bring to the FoH and the club.

We should have a "FoH has got talent" type competition to see who's who and what they offer.

 

Am I right in saying that the FoH board will put forward some of its members to sit on the Hearts board (so the FoH will have a say in but not actually be running the club by itself)?

I think the answer to your question is that FOH will continue to have a minority of club board members in line with its ethos of not interfering in the running of the club which is a principle embodied in the recently agreed Articles of Association of FOH. I think it's bizarre but there it is.

On your first point I agree ... I have suggested more than once that FOH should at least put a brief CV of its board members on its website. Most organisations do so. The response was that I should come to.meetings and ask the directors directly.

 

[Francis Albert]

While Ann will remain in charge until.June on the basis of some technicality, in the unlikely  event of some major decision at an EGM in the meantime I have no doubt Ann would vote in line with FOH's wishes. That would only be fair.