Rods Posted July 6, 2008 Share Posted July 6, 2008 Guys I do not often post rumours on this board. I got a text today, saying that UBIG were going to wipe off 12 million of our debt. With an equity swap, seemingly there will be an announcement tomorrow. Also to go with this a new manager will be announced. One that will turn heads, so to speak. Has anybody else heard anything ? Link to comment Share on other sites More sharing options...
Tazio Posted July 6, 2008 Share Posted July 6, 2008 Also to go with this a new manager will be announced. One that will turn heads, so to speak. Are they an osteopath? Link to comment Share on other sites More sharing options...
Le Chat Posted July 6, 2008 Share Posted July 6, 2008 Was the text from a Hobo ? Link to comment Share on other sites More sharing options...
Only a Game Posted July 6, 2008 Share Posted July 6, 2008 An equity swap ? Link to comment Share on other sites More sharing options...
Maximus Posted July 6, 2008 Share Posted July 6, 2008 Link to comment Share on other sites More sharing options...
Boab Mugabe Posted July 6, 2008 Share Posted July 6, 2008 If it's true, I don't like the sound of an 'equity swap'. Is Linda Blair from The Exorcist our new manager? Link to comment Share on other sites More sharing options...
Rods Posted July 6, 2008 Author Share Posted July 6, 2008 Was the text from a Hobo ? Na boy who sits next me at tynie. He has a mate, who he worked beside, who seems to be pretty informed on Hearts. Think he may even have shares, defo has been to AGM's. I dont beleive the manager bit but writing off the debt, has been mentioned by pedro in the past. Link to comment Share on other sites More sharing options...
Ryan Gosling Posted July 6, 2008 Share Posted July 6, 2008 12m of debt into shares, no? Link to comment Share on other sites More sharing options...
JamboLad Posted July 6, 2008 Share Posted July 6, 2008 The debt thing has been mentioned alot in the past. Its another rumour to add to the pile. Link to comment Share on other sites More sharing options...
Benny Factor Posted July 6, 2008 Share Posted July 6, 2008 An equity swap ? http://en.wikipedia.org/wiki/Equity_swap Link to comment Share on other sites More sharing options...
Rods Posted July 6, 2008 Author Share Posted July 6, 2008 12m of debt into shares, no? Yeh that is what I meant. Thanks peanut Either way, just have to wait and see. Link to comment Share on other sites More sharing options...
Ben Dover Posted July 6, 2008 Share Posted July 6, 2008 Why do I appear to be the only person on here that's not 'connected' Link to comment Share on other sites More sharing options...
portobellojambo1 Posted July 6, 2008 Share Posted July 6, 2008 12m of debt into shares, no? There was mention of something along those lines a while back I believe, although no amounts were mentioned (I don't think). I believe it effectively involves diluting the price of the existing shares as well, possibly making it easier to gain 100% control. Link to comment Share on other sites More sharing options...
Ibrahim Tall Posted July 6, 2008 Share Posted July 6, 2008 Isn't Vlad pretty much the sole owner of UBIG, while he only owns a percentage of Ukio(who we actually owe the debt)? Link to comment Share on other sites More sharing options...
JamboPete Posted July 6, 2008 Share Posted July 6, 2008 Also to go with this a new manager will be announced. One that will turn heads, so to speak. Has anybody else heard anything ? I have not heard anything, but I do think that Csaba will be appointed this week, possibly even tomorrow. The sooner the better, so we can start to add much needed numbers and quality to our squad. Link to comment Share on other sites More sharing options...
adayinmay Posted July 6, 2008 Share Posted July 6, 2008 Guys I do not often post rumours on this board. I got a text today, saying that UBIG were going to wipe off 12 million of our debt. With an equity swap, seemingly there will be an announcement tomorrow. Also to go with this a new manager will be announced. One that will turn heads, so to speak. Has anybody else heard anything ? That'll be the CG and RB money then. Link to comment Share on other sites More sharing options...
jamboscott Posted July 6, 2008 Share Posted July 6, 2008 yep i got the same text, sort of no manager tomorrow but soon 12 mill off debt unclear how but details out tomorrow Link to comment Share on other sites More sharing options...
jamboinglasgow Posted July 6, 2008 Share Posted July 6, 2008 There was mention of something along those lines a while back I believe, although no amounts were mentioned (I don't think). I believe it effectively involves diluting the price of the existing shares as well, possibly making it easier to gain 100% control. would be interesting way to do it, would mean that UBIG or whoever owns our debt would have more control of the club. As for a new manager, lets hope this happens. is your source a connected person? Link to comment Share on other sites More sharing options...
Praha06 Posted July 6, 2008 Share Posted July 6, 2008 yep i got the same text, sort of no manager tomorrow but soon 12 mill off debt unclear how but details out tomorrow So who is it that distributes these txts then? I want to be in the loop too! Link to comment Share on other sites More sharing options...
jamboscott Posted July 6, 2008 Share Posted July 6, 2008 There was mention of something along those lines a while back I believe, although no amounts were mentioned (I don't think). I believe it effectively involves diluting the price of the existing shares as well, possibly making it easier to gain 100% control. there was a metion in the text that they would increase shares from 90-96% Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted July 6, 2008 Share Posted July 6, 2008 If this did happen (and it can't without an EGM proposal, which is why I don't think it has any credibility) then it might catch headlines as "reducing" the debt but it would mean that Vlad/UBIG would have over 90% control, which would in effect make the club a private entity and mean even less scrutiny. Link to comment Share on other sites More sharing options...
Blizzard Posted July 6, 2008 Share Posted July 6, 2008 If this did happen (and it can't without an EGM proposal, which is why I don't think it has any credibility) then it might catch headlines as "reducing" the debt but it would mean that Vlad/UBIG would have over 90% control, which would in effect make the club a private entity and mean even less scrutiny. That's what Vlad wants. Even if the rest of the shareholders refused this option I think his majority rule can push it through regardless. ?12M off the debt would leave us owing somewhere in the region of ?12-15M after all the transfer money maybe even less. This would buy Vlad some more favour with the fans. However, the debt will soon go back up when he starts the new stand. Or it may not happen as the other shareholders would have to be advised and offered the opportunity to buy more shares. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted July 6, 2008 Share Posted July 6, 2008 That's what Vlad wants. Even if the rest of the shareholders refused this option I think his majority rule can push it through regardless. ?12M off the debt would leave us owing somewhere in the region of ?12-15M after all the transfer money maybe even less. This would buy Vlad some more favour with the fans. However, the debt will soon go back up when he starts the new stand. Or it may not happen as the other shareholders would have to be advised and offered the opportunity to buy more shares. Not necessarily. It isn't a rights issue if it's a pure debt for equity swap we're talking about. It would have to be put to shareholders to agree (which won't be an issue given the control that UBIG already have). Link to comment Share on other sites More sharing options...
jambos are go! Posted July 6, 2008 Share Posted July 6, 2008 A few months ago there were some suggestions that a large part of the debt would be transferred into the larger UBIG group and off the Hearts Balance sheet. This it was said would put flesh on the statement often put forward by RR that they were borrowing their own money and it did not matter which part of the UBIG group held the debt(and therefore the risk). I hope it's true because removing it from our balance sheet would be great news for Hearts and a significant step by VR. Link to comment Share on other sites More sharing options...
Stanley_ Posted July 6, 2008 Share Posted July 6, 2008 So who is it that distributes these txts then? I want to be in the loop too! If you want to be in the loop then start texting crap rumours to all your mates then they will pass it on to others and it will end up on kickback... Not saying anything against this rumour though as I don't have a clue if it's true or not. Link to comment Share on other sites More sharing options...
John Montgomery Posted July 6, 2008 Share Posted July 6, 2008 If this did happen (and it can't without an EGM proposal, which is why I don't think it has any credibility) then it might catch headlines as "reducing" the debt but it would mean that Vlad/UBIG would have over 90% control, which would in effect make the club a private entity and mean even less scrutiny. However Geoff the announcement (if true) could be an EGM. As a shareholder my shares being diluted would be of no consequence to me if it was not detrimental to HMFC (which at the moment I have no reason to think is the case) because I own my my shares only to have a connection to HMFC. And as far as I can see I would not have any less say than I had when Chris Robinson had all the proxy votes. Not sure the effect of UBIG having between 90-95% of the shares other than the obvious. Only when the proposals came out and others more knowledgable than myself (and I am not talking about kickback contributors) saw pitfalls could I say I was not in favour. I am pretty sure that irrespective of the proposals (if any) there would people on kickback who would rightly or wrongly down them. We will see. However as I said my voice being diluted is on the face of it is neither here nor there. John Link to comment Share on other sites More sharing options...
Cade Posted July 7, 2008 Share Posted July 7, 2008 NEXT! Link to comment Share on other sites More sharing options...
Guest GhostHunter Posted July 7, 2008 Share Posted July 7, 2008 Are they an osteopath? Christ I hope so. And a drugs councillor - weaning oneself off morphine is a killer. Link to comment Share on other sites More sharing options...
speedbump Posted July 7, 2008 Share Posted July 7, 2008 David Murray has been doing this for years at Rangers. Link to comment Share on other sites More sharing options...
PTBCAL Posted July 7, 2008 Share Posted July 7, 2008 Guys I do not often post rumours on this board. I got a text today, saying that UBIG were going to wipe off 12 million of our debt. With an equity swap, seemingly there will be an announcement tomorrow. Also to go with this a new manager will be announced. One that will turn heads, so to speak. Has anybody else heard anything ? Think this text is doing the rounds. Re equity debt - this was certaintly alluded to this at the agm and it was discussed in the private members forum back in March i think. Never dull is it. Link to comment Share on other sites More sharing options...
jlo2 Posted July 7, 2008 Share Posted July 7, 2008 An equity swap ? What is there to swap? Vlad owns virtually all the shares in Hearts. The only explaination is a ?12m rights issue of new shares with UBIG underwriting the issue. Doesn't seem likely. Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted July 7, 2008 Share Posted July 7, 2008 It is true. A meeting took place at Tynecastle yesterday seemingly with Fedetovas, Ogilvie, Southern and a few select Hearts supporters. Link to comment Share on other sites More sharing options...
Jammy T Posted July 7, 2008 Share Posted July 7, 2008 It is true. A meeting took place at Tynecastle yesterday seemingly with Fedetovas, Ogilvie, Southern and a few select Hearts supporters. Prominent Hearts fans? Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 7, 2008 Share Posted July 7, 2008 I have heard the same for a while,this threat was used to make people sell shares because it will certaintly greatly dilute the value of existing shares. I have heard that UBIG have also been unable to attract any other investors to The Tynie development apart from a cypriot who has his own problems. On a brighter note this could also make Hearts FC more attractive as a stand alone investment if it were to be sold. The new manager will be in Germany deja vu Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted July 7, 2008 Share Posted July 7, 2008 Prominent Hearts fans? I would say so. Link to comment Share on other sites More sharing options...
Dirk Diggler Posted July 7, 2008 Share Posted July 7, 2008 Never dull is it. And we all love Hearts for it being so. Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 7, 2008 Share Posted July 7, 2008 It is true. A meeting took place at Tynecastle yesterday seemingly with Fedetovas, Ogilvie, Southern and a few select Hearts supporters. wonder if beetroot soup was on the menu,these guys have certaintly swallowed enough in the past. Link to comment Share on other sites More sharing options...
Genghis Khan Posted July 7, 2008 Share Posted July 7, 2008 wonder if beetroot soup was on the menu,these guys have certaintly swallowed enough in the past. I have no idea what was on the menu but that's a bit rich coming from you! "Who ate all the pies?" Does Robinson still supply them to you for your 'loyalty'? Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted July 7, 2008 Share Posted July 7, 2008 wonder if beetroot soup was on the menu,these guys have certaintly swallowed enough in the past. They must have the taste for it by now. Link to comment Share on other sites More sharing options...
vegas-voss Posted July 7, 2008 Share Posted July 7, 2008 Guys I do not often post rumours on this board. I got a text today, saying that UBIG were going to wipe off 12 million of our debt. With an equity swap, seemingly there will be an announcement tomorrow. Also to go with this a new manager will be announced. One that will turn heads, so to speak. Has anybody else heard anything ? In what way Rents will he turn heads.Disgust or Delight ? Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 7, 2008 Share Posted July 7, 2008 I have no idea what was on the menu but that's a bit rich coming from you! "Who ate all the pies?" Does Robinson still supply them to you for your 'loyalty'? Noi I get Steak bake now ,change the record . I never received any "expenses" from CR,can SOH say they never paid any? Or will this question be ducked as usual These guys must be seek at least there used to be a wee flight over to Lith. Link to comment Share on other sites More sharing options...
Genghis Khan Posted July 7, 2008 Share Posted July 7, 2008 Noi I get Steak bake now ,change the record .I never received any "expenses" from CR,can SOH say they never paid any? Or will this question be ducked as usual These guys must be seek at least there used to be a wee flight over to Lith. Change the record? Again, a bit rich coming from you - you mention 'beetroot soup', slag off GM / GF / SOH at any opportunity. Every time you do that, I will remind this board that you were in cahoots with the Pieman. Link to comment Share on other sites More sharing options...
PTBCAL Posted July 7, 2008 Share Posted July 7, 2008 In what way Rents will he turn heads.Disgust or Delight ? Graham Rix style? Link to comment Share on other sites More sharing options...
Cliffundo Posted July 7, 2008 Share Posted July 7, 2008 Change the record? Again, a bit rich coming from you - you mention 'beetroot soup', slag off GM / GF / SOH at any opportunity. Every time you do that, I will remind this board that you were in cahoots with the Pieman. Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 7, 2008 Share Posted July 7, 2008 Change the record? Again, a bit rich coming from you - you mention 'beetroot soup', slag off GM / GF / SOH at any opportunity. Every time you do that, I will remind this board that you were in cahoots with the Pieman. What about the expenses question,it seems to be like a crucifix to a vampire to you boys. You state I was "in Cahoots" and in a previous post you claim I receveived money from the pieman,Please either substantiate with specifics or retract. Link to comment Share on other sites More sharing options...
Genghis Khan Posted July 7, 2008 Share Posted July 7, 2008 What about the expenses question,it seems to be like a crucifix to a vampire to you boys.You state I was "in Cahoots" and in a previous post you claim I receveived money from the pieman,Please either substantiate with specifics or retract. Suck it up - the truth hurts.. Link to comment Share on other sites More sharing options...
Coco Posted July 7, 2008 Share Posted July 7, 2008 What is there to swap? Vlad owns virtually all the shares in Hearts. The only explaination is a ?12m rights issue of new shares with UBIG underwriting the issue. Doesn't seem likely. Ukio Bankas might want to reduce their exposure to Hearts - so UBIG might 'buy' the Hearts debt from Ukio Bankas and swap it to equity. Or they may swap the debt owed by Hearts directly to UBIG into equity. If this sort of thing is done on a significant scale then it would dilute existing shareholders to nominal amounts (all of them including UBIG's current shares would be worth virtually nothing) - with all of the equity 'value' in the new shares. My guess would be that Ukio Bankas need to reduce their exposure to Hearts debt. As GK suggests, this would take an EGM. Perhaps one will be called. Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 7, 2008 Share Posted July 7, 2008 Suck it up - the truth hurts.. In other words it is obvious you have nothing to substantiate your ramblings and have resorted to type. Link to comment Share on other sites More sharing options...
Genghis Khan Posted July 7, 2008 Share Posted July 7, 2008 In other words it is obvious you have nothing to substantiate your ramblings and have resorted to type. Just like you with 'beetroot soup' and 'SOH expenses' claims, not to mention the scurrilous, unsubstantiated accusations you made against a former Hearts player on this very forum. Your dalliance with the Pieman and his 'working parties' is well known round these parts not to mention the HMFC youths 'bed & board' scheme you participate in. That wouldn't have been set up during the Pieman's reign, would it? Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted July 7, 2008 Share Posted July 7, 2008 Just like you with 'beetroot soup' and 'SOH expenses' claims, not to mention the scurrilous, unsubstantiated accusations you made against a former Hearts player on this very forum. Your dalliance with the Pieman and his 'working parties' is well known round these parts not to mention the HMFC youths 'bed & board' scheme you participate in. That wouldn't have been set up during the Pieman's reign, would it? I repeat you imply I received money from CR ,can you please substantiate ,and not with "well known around these parts" it makes you sound like Calamity Jane on the Deadwood stage. My "daliance" was more to avoid the one dimensional approach of getting rid of CR and hang the consequences...look where it has got us Probably went over your head then as now. In response to your final question,I did John Mcglynn a favour ,I wont say after CR left,because he stayed on as a consultant,but after he had any control in the club....but like the rest of your meanderings,dont let the truth stand in the way Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.