FoH Shares - Handover Announced for 30/8/21

[highlandjambo3]

Watch the weegia/media/pundits give us very little coverage or praise for this valiant effort……..not surprised but meh…so what

[Gmcjambo]

1 hour ago, Jambo61 said:

A nice day of celebration, then fundamentally nothing changes thereafter!

Why bother celebrating at all then?    Ownership of the Club does matter - this is not simply ceremonial,  but I get the concerns people have give pain we've all experienced these last few years - mainly due to AB's decision making on the operational/footballing side.  In fairness though, she will no longer be the majority shareholder,   she is no longer the CEO,  she has improved overall governance by separating 1st team coach and DOF,  and that in turn has led to a more professional approach to identifying and signing players.  I believe she will remain as Chair,  but given her actual skill set is running a business I can live with that.  It is however, quite a significant moment.    Onwards and upwards!

[John Findlay]

We are the(true) people.

We didn't let our club die.

To all the snipers inhouse and outhouse. GIRUY.

[sadj]

1 minute ago, Francis Albert said:

I am guessing that as majority owner they would need to put in more effort to manage its shareholding and control the outcome of decisions at AGMs and anything else shareholders get involved in. I wasn't suggesting it would be a big increase but I can't see it would be less. FOH will still need to do everything it does now.

Dearie me 🤣🤣🤣🤣🤣

[Francis Albert]

42 minutes ago, davie1980 said:

 

Presumably being largely written off against the black hole of Covid losses

 

With ST money and fans back, it can be routed to footballing causes

 

Now where the ****'s that centre back?

It will be routed where Ann wants it to. Nothing as far as funding will change. I suspect the benefit of fan ownership is and will only really be seen when the club faces another threat to its existence. Which is I suppose the point of fan ownership.

[Francis Albert]

3 minutes ago, sadj said:

Dearie me 🤣🤣🤣🤣🤣

So do you think FOH funding to the club will increase? A reply including words would be helpful.

[SpruceBringsteen]

44 minutes ago, Barack said:

Nominate @SpruceBringsteen

 

Start as we mean to go on.

 

A day of free bevvy and Neil MacFarlane 😍

[luckydug]

56 minutes ago, Francis Albert said:

Good news.  Will restore my DD but I don't apologise for suspending it due the delay and continuing lack of any proper explanation for it.

Dont think anyone noticed 😏

[Norm]

Does this mean I can put football club owner on my CV? 

[sadj]

7 minutes ago, Francis Albert said:

So do you think FOH funding to the club will increase? A reply including words would be helpful.

 

Why would i think funding to the club would increase?
 

You specifically said it would decrease due to having to manage our shareholding. You talk like someone who doesnt understand how FoH works. 

[sadj]

2 minutes ago, Norm said:

Does this mean I can put football club owner on my CV? 

Think it depends if you want the lunatics at your house with their bedsheets

[davemclaren]

18 minutes ago, Francis Albert said:

I am guessing that as majority owner they would need to put in more effort to manage its shareholding and control the outcome of decisions at AGMs and anything else shareholders get involved in. I wasn't suggesting it would be a big increase but I can't see it would be less. FOH will still need to do everything it does now.

I think the expenses will stay the same. I don’t think there will be a need to increase as the actual running of FoH doesn’t change in any way as far I can see. 

[sadj]

12 minutes ago, Francis Albert said:

It will be routed where Ann wants it to. Nothing as far as funding will change. I suspect the benefit of fan ownership is and will only really be seen when the club faces another threat to its existence. Which is I suppose the point of fan ownership.

So above you say funding will decrease now nothing about funding will chamge.

[sadj]

Just now, davemclaren said:

I think the expenses will stay the same. I don’t think there will be a need to increase as the actual running of FoH doesn’t change in any way as far as so can see. 

Agreed , with the governance guidelines are as they are there is no need for any increase anywhere (bar the communications position they discussed)

[Jambo61]

16 minutes ago, Gmcjambo said:

Why bother celebrating at all then?    Ownership of the Club does matter - this is not simply ceremonial,  but I get the concerns people have give pain we've all experienced these last few years - mainly due to AB's decision making on the operational/footballing side.  In fairness though, she will no longer be the majority shareholder,   she is no longer the CEO,  she has improved overall governance by separating 1st team coach and DOF,  and that in turn has led to a more professional approach to identifying and signing players.  I believe she will remain as Chair,  but given her actual skill set is running a business I can live with that.  It is however, quite a significant moment.    Onwards and upwards!

I will celebrate, but don't be fooled that 'majority shareholder' means anything.

They have always been quite explicit the fans will never run the club, quite rightly, but never answered who will? Ultimately if we, the fans, disagree with the CEO, he wins!

[sadj]

12 minutes ago, Francis Albert said:

So do you think FOH funding to the club will increase? A reply including words would be helpful.

Infact dont reply FA this should be a positive thread you are doing your usual along with a couple others and arsed…..

🤐👍🏻

[luckydug]

When do we have to repay Ann's loan ? 🤔 

Or do we expect her to treat it as a donation as well as her having taken no salary for the last seven years. 

[Francis Albert]

4 minutes ago, davemclaren said:

I think the expenses will stay the same. I don’t think there will be a need to increase as the actual running of FoH doesn’t change in any way as far I can see. 

I said they might. As you say everything FOH does now will continue. Maybe being majority shareholder does not involve doing anything else. Perhaps FOH won't vote at AGMs or EGMs or take any soundings from its membershio about any such vote. I did not suggest the additional costs would be significant (indeed the opposite) but just that they might exist.

[davemclaren]

Just now, luckydug said:

When do we have to repay Ann's loan ? 🤔 

Or do we expect her to treat it as a donation as well as her having taken no salary for the last seven years. 

Don’t think we should anticipate it being a donation. 😄

[Boab]

8 minutes ago, sadj said:

Infact dont reply FA this should be a positive thread you are doing your usual along with a couple others and arsed…..

🤐👍🏻

Naive to think it wouldn’t go south, sadj !

Step away, mate.

👍

[Francis Albert]

13 minutes ago, sadj said:

 

Why would i think funding to the club would increase?
 

You specifically said it would decrease due to having to manage our shareholding. You talk like someone who doesnt understand how FoH works. 

I didn't say that but carry on.  

[davemclaren]

Just now, Francis Albert said:

I said they might. As you say everything FOH does now will continue. Maybe being majority shareholder does not involve doing anything else. Perhaps FOH won't vote at AGMs or EGMs or take any soundings from its membershio about any such vote. I did not suggest the additional costs would be significant (indeed the opposite) but just that they might exist.

FoH already vote at AGMs and EGMs ( if there were any ) though not as majority shareholder. I assume the FoH AGM, or EGM, is how they take formal soundings but currently that is after the club AGM. it will be interesting to see how it works in practice going forward.
 

If you have shares in a company that has a controlling interest in another company there generally aren’t soundings apart from the AGM, in my experience.  
 

[Footballfirst]

4 minutes ago, davemclaren said:

I think the expenses will stay the same. I don’t think there will be a need to increase as the actual running of FoH doesn’t change in any way as far I can see. 

The new governance model will come into play from the date of the transfer.  There is currently a 5% cap on FOH's internal spending (typically it has been 3%), but there is no restriction on such spending going forward.  I can see some increased spend for self promotion e.g. the video production for the handover. Other than that there could be additional spend on preparation of accounts/audits, comparable to what Bidco spent as majority shareholder.

 

The FOH Board might look to taking out something like a group hospitality package with the club so that they can host and invite members, friends, guests etc., at home games, and in doing so promote the FO concept.  That would also see funds go to the club (less VAT) but, in general, members should keep an eye on any expenses being incurred without scrutiny. 

[sadj]

8 minutes ago, Boab said:

Naive to think it wouldn’t go south, sadj !

Step away, mate.

👍

Indeed , i have 🤐

[davemclaren]

4 minutes ago, Footballfirst said:

The new governance model will come into play from the date of the transfer.  There is currently a 5% cap on FOH's internal spending (typically it has been 3%), but there is no restriction on such spending going forward.  I can see some increased spend for self promotion e.g. the video production for the handover. Other than that there could be additional spend on preparation of accounts/audits, comparable to what Bidco spent as majority shareholder.

 

The FOH Board might look to taking out something like a group hospitality package with the club so that they can host and invite members, friends, guests etc., at home games, and in doing so promote the FO concept.  That would also see funds go to the club (less VAT) but, in general, members should keep an eye on any expenses being incurred without scrutiny. 

What additional accounts/audits does a majority shareholder have to do as opposed to a minority shareholder? 
 

Inviting ‘friends/guests’ to FoH sponsored hospitality will go down well. Won’t it all just be done via the actual club as likely happens now?
 

 

[Bill Sikes]

My condolences are with Prince Albert at this difficult time. 

[sadj]

1 minute ago, davemclaren said:

What additional accounts/audits does a majority shareholder have to do as opposed to a minority shareholder? 
 

Invitinh ‘friends/guests’ to FoH sponsored hospitality will go down well. Won’t it all just be done via the actual club as likely happens now?
 

 

Na mate , that wouldnt allow people to be negative and dickish about an unreal thing weve done

[iainmac]

20 minutes ago, sadj said:

 

Why would i think funding to the club would increase?
 

You specifically said it would decrease due to having to manage our shareholding. You talk like someone who doesnt understand how FoH works. 

 

I think there are basically 2 types of pledgers :

 

1. Pledgers for life 

2. Pledgers until the club is "saved". 

 

If some people in the 2nd category seem that the shareholding changing hands = club saved, these pledges *might* drop off. 

 

Next monthly update should clarify. 

[davemclaren]

Just now, iainmac said:

 

I think there are basically 2 types of pledgers :

 

1. Pledgers for life 

2. Pledgers until the club is "saved". 

 

If some people in the 2nd category seem that the shareholding changing hands = club saved, these pledges *might* drop off. 

 

Next monthly update should clarify. 

That’s a good point. 

[Boab]

3 minutes ago, davemclaren said:

That’s a good point. 

It is. Something that will be discussed at length I’d imagine. 

[iainmac]

5 minutes ago, davemclaren said:

That’s a good point. 

 

I was bound to make one eventually! 😍

[davemclaren]

1 minute ago, Deke Thornton said:

Following the transfer of shares (or even before) I look forward to finding out where future FOH contributions will go and be spent/invested.

 

They just go into the club general income ( less any expenses ) as agreed at the FoH AGM when the governance model was approved. 

[davemclaren]

Just now, iainmac said:

 

I was bound to make one eventually! 😍

I was quite surprised to be honest. 🤣

[Jambof3tornado]

10 minutes ago, iainmac said:

 

I think there are basically 2 types of pledgers :

 

1. Pledgers for life 

2. Pledgers until the club is "saved". 

 

If some people in the 2nd category seem that the shareholding changing hands = club saved, these pledges *might* drop off. 

 

Next monthly update should clarify. 

I dont think there are many in the 2nd category to be honest.

 

Cannot see any drop off at all.

 

I do still think Ann needs to continue to back away from all things football related for us to grow as a club.

 

 

[sadj]

12 minutes ago, iainmac said:

 

I think there are basically 2 types of pledgers :

 

1. Pledgers for life 

2. Pledgers until the club is "saved". 

 

If some people in the 2nd category seem that the shareholding changing hands = club saved, these pledges *might* drop off. 

 

Next monthly update should clarify. 

Tis indeed a good point. Wasnt what the poster said but that is something that may see a drop off. The basics of operating as majority instead of a minority shareholder shouldnt change anything

[graygo]

47 minutes ago, Francis Albert said:

So do you think FOH funding to the club will increase? A reply including words would be helpful.

 

Deleted again. 🤬

Edited August 18, 2021 by Awbdy Oot

[Footballfirst]

20 minutes ago, davemclaren said:

What additional accounts/audits does a majority shareholder have to do as opposed to a minority shareholder? 
 

Invitinh ‘friends/guests’ to FoH sponsored hospitality will go down well. Won’t it all just be done via the actual club as likely happens now?

I honestly don't know. I suspect that it will depend on how the final structure looks.  At the moment FOH's accounts are fairly simple with a single income stream which is spent as donations going to the club. Bidco's accounts mainly mirror those of the club, with additional information about Bidco's own indebtedness to its shareholder (AB) included in consolidated accounts.

 

I think that it would be possible for FOH to avoid submitting separate accounts from the club, if it was effectively a non trading entity (i.e. just owning the shares). However as it intends to continue to take pledges I would expect that it will need to produce separate or consolidated group accounts.

 

The club will continue to promote itself through hospitality as it does at present. I was just considering the possibility of the FOH Board wishing to do something similar for themselves.  The guests could be other fans organisations looking to go down a similar route, or former Hearts players or staff who have previously promoted the FOH concept. There could even be monthly draws for members to attend.

Edited August 18, 2021 by Footballfirst

[davemclaren]

1 minute ago, Deke Thornton said:

Thanks for confirming. I carried on subscribing last season due to a combination of pandemic and our demotion but will now stop. My contribution to future club general income will be via season tickets (for me and grandsons) and match day spending.

I personally thought including it in general income was a mistake. I think if you say the money is for specific projects/initiatives then more people will contribute. I was in a minority though. 😄

[davemclaren]

2 minutes ago, Footballfirst said:

I honestly don't know. I suspect that it will depend on how the final structure looks.  At the moment FOH's accounts are fairly simple with a single income stream which is spent as donations going to the club. Bidco's accounts mainly mirror those of the club, with additional information about Bidco's own indebtedness to its shareholder (AB) included in consolidated accounts.

 

It think that it would be possible for FOH to avoid submitting separate accounts from the club, if it was effectively a non trading entity (i.e. just owning the shares). However as it intends to continue to take pledges I would expect that it will need to produce separate or consolidated group accounts.

 

The club will continue to promote itself through hospitality as it does at present. I was just considering the possibility of the FOH Board wishing to do something similar for themselves.  The guests could be other fans organisations looking to go down a similar route, or former Hearts players or staff who have previously promoted the FOH concept. There could even be monthly draws for members to attend.

Thanks for the reply. 

[Turkishcap]

Maybe I am naive but to me with the new structure in place if the club is doing well on the pitch I would imagine pledges to increase?.

[iainmac]

15 minutes ago, Jambof3tornado said:

I dont think there are many in the 2nd category to be honest.

 

Cannot see any drop off at all.

 

I do still think Ann needs to continue to back away from all things football related for us to grow as a club.

 

 

 

Pledge numbers vary in both directions for a variety of reasons. The main reason for increases is when the team is performing well on the pitch & there's a general "feel good factor" around the club. 

[graygo]

28 minutes ago, iainmac said:

 

I think there are basically 2 types of pledgers :

 

1. Pledgers for life 

2. Pledgers until the club is "saved". 

 

If some people in the 2nd category seem that the shareholding changing hands = club saved, these pledges *might* drop off. 

 

Next monthly update should clarify. 

 

There's also some who spat the dummy out over how long it was taking to transfer ownership and cancelled their pledge who apparently are now starting it back up again. No idea how many but at least one of them is a very important person.

[iainmac]

One of the most significant days in our recent history reduced to a mere footnote on STV News. More interested in Tom Daley signing a contract extension at Fester Rd. 

[davemclaren]

3 minutes ago, iainmac said:

One of the most significant days in our recent history reduced to a mere footnote on STV News. More interested in Tom Daley signing a contract extension at Fester Rd. 

it wasn’t like that when SMG had shares in us. 😄

[iainmac]

Just now, davemclaren said:

it wasn’t like that when SMG had shares in us. 😄

 

That worked out well. 

 

We didn't know it then but strangely, the SMG protest by SOH in Glasgow was an early step on the long journey to where we are now. 

[manaliveits105]

7 minutes ago, iainmac said:

One of the most significant days in our recent history reduced to a mere footnote on STV News. More interested in Tom Daley signing a contract extension at Fester Rd. 

STV seem to camp at hubz training ground that woman that does the sport starts just about every nights sports report with Hibs boss Jack Ross says ......

as a shortly to be major shareholder I would like to see both BBC and STV banned from the club 

[indianajones]

Good news. 

 

Not a big deal but i never got either of the pins for reaching certain targets. Anyone know how to get these? Would be good to have them.

[Kiwidoug]

1 hour ago, Norm said:

Does this mean I can put football club owner on my CV? 

Yip.  😂😂😂❤❤❤

[Notts1874]

7 minutes ago, indianajones said:

Good news. 

 

Not a big deal but i never got either of the pins for reaching certain targets. Anyone know how to get these? Would be good to have them.

Email FOH, they will post them or let you pick them up in the shop 

[Kiwidoug]

Perfect timing.  I'm going to a flash dinner that night with one of my 4 constituency MPs and the Leader of the Opposition.

 

The food will very much be a secondary consideration.