JKB Hearts Shares transferred to FoH - now complete!!

[davemclaren]

A few years back we had a ‘consultation’ on the forum regarding the 300,000 Hearts shares that JKB members bought as part of a group fundraising initiative to try and help keep the club going during the final year of Vlad’s ownership.
 

 

The consensus at that time looked to be in favour of transferring them to FoH. 
 

We took a decision that we would hold off on any transfer until FoH actually owned the club. We also took on board the comments that we should retain an amount of shares so that we could send a representative to AGMs if ever thought necessary, though we have never done that as yet. 
 

I can now confirm that we have just recently transferred 290,000 of the JKB owned shares to the Foundation thus retaining 10,000 shares in the name of jkb. 

[Jambo61]

The remaining shareholders should do similar, considering the shares were worthless!

[Unknown user]

Fair enough, I thought they should be kept so I'm glad for the compromise.

[Don Dan]

I have 3 sets of shares in one form or another. My own personal shares, JKB shares as a member and FOH shares as a member. 
I am very happy to still have 3 sets of shares and long may that continue. 

Edited September 28, 2021 by Boy Daniel

[Footballfirst]

Thanks for the update Dave. I was always a bit cautious of mentioning the 300k holding as it was in your name, rather that that of JKB, as I thought it may have been a personal holding.

 

The transfer will take FOH up to approx 75.54% of the club (includes transfers from Bidco, HYDC and JKB).

 

I will hang on to my own shares in the club as it will at least give me a voice in "club" matters at AGMs, in contrast to the hands off approach of FOH. 

[brownkg]

A good and honourable move as far as I am concerned.
I hesitate to bring the thorny subject  again  but wish there was a way for the  HOMST holding to be dealt with in a similar manner.

[davemclaren]

1 hour ago, Footballfirst said:

Thanks for the update Dave. I was always a bit cautious of mentioning the 300k holding as it was in your name, rather that that of JKB, as I thought it may have been a personal holding.

 

The transfer will take FOH up to approx 75.54% of the club (includes transfers from Bidco, HYDC and JKB).

 

I will hang on to my own shares in the club as it will at least give me a voice in "club" matters at AGMs, in contrast to the hands off approach of FOH. 

I have my own personal shares in the club as well. 

[Mr Sifter]

I bought shares when the shit hit the fan with Vlad. Ive got two certificates, one when I initially bought them, and another which arrived shortly after Anne took over. What was that all about? Also, someone once pointed out to me that these weren’t really ‘real’ shares ie I couldn’t attend AGMs and the like off the back of owning them. Was/is this true? (I should point out that, like most others, I only bought them because we were in trouble, I have no intention of attending any AGMs or gettin involved in the club in this way) 👍🏼

[Cigaro]

8 minutes ago, Mr Sifter said:

I bought shares when the shit hit the fan with Vlad. Ive got two certificates, one when I initially bought them, and another which arrived shortly after Anne took over. What was that all about? Also, someone once pointed out to me that these weren’t really ‘real’ shares ie I couldn’t attend AGMs and the like off the back of owning them. Was/is this true? (I should point out that, like most others, I only bought them because we were in trouble, I have no intention of attending any AGMs or gettin involved in the club in this way) 👍🏼

I'm sure you can. 

 

I have the shares from Vlad's time and also from before. I get two invites to the AGM through each year. I've tried to get them to consolidate these into one but doesn't seem to have happened.

[poultry]

Just now, Cigaro said:

I'm sure you can. 

 

I have the shares from Vlad's time and also from before. I get two invites to the AGM through each year. I've tried to get them to consolidate these into one but doesn't seem to have happened.

Me too.

[Guest]

9 hours ago, Jambo61 said:

The remaining shareholders should do similar, considering the shares were worthless!

No chance. I've got thousands of them which cost a small fortune. I'll proudly keep them unti I draw my last breath.

 

FOH can have them when I bite the dust. Its already in my will.

Edited September 29, 2021 by Jonkel Hoon

[kingantti1874]

As regards personal shares. FOH have all the shares they need so I’ll be keeping mine 

[jambodan1998]

Does anyone have email address that I can contact as since I have moved house I have never had an invite to the Share holders meetings? Thanks

[davemclaren]

20 minutes ago, jambodan1998 said:

Does anyone have email address that I can contact as since I have moved house I have never had an invite to the Share holders meetings? Thanks

Equiniti manage the shares. If you have your certificate you should be able to register online. 
 

https://portfolio.shareview.co.uk/7/Portfolio/default/en/Anonymous/Pages/RegistrationStep1.aspx

[jambodan1998]

3 minutes ago, davemclaren said:

Equiniti manage the shares. If you have your certificate you should be able to register online. 
 

https://portfolio.shareview.co.uk/7/Portfolio/default/en/Anonymous/Pages/RegistrationStep1.aspx

Thank you

[Worthing Jambo]

7 hours ago, brownkg said:

A good and honourable move as far as I am concerned.
I hesitate to bring the thorny subject  again  but wish there was a way for the  HOMST holding to be dealt with in a similar manner.

You’re not the only one!😂

I live in hope.🙄

[davemclaren]

12 hours ago, Jambo61 said:

The remaining shareholders should do similar, considering the shares were worthless!

I still have my own shares, mainly for sentimental reasons and so I can go to the monthly HMSA dinners. 

[Boab]

12 hours ago, davemclaren said:

A few years back we had a ‘consultation’ on the forum regarding the 300,000 Hearts shares that JKB members bought as part of a group fundraising initiative to try and help keep the club going during the final year of Vlad’s ownership.
 

 

The consensus at that time looked to be in favour of transferring them to FoH. 
 

We took a decision that we would hold off on any transfer until FoH actually owned the club. We also took on board the comments that we should retain an amount of shares so that we could send a representative to AGMs if ever thought necessary, though we have never done that as yet. 
 

I can now confirm that we have just recently transferred 290,000 of the JKB owned shares to the Foundation thus retaining 10,000 shares in the name of jkb. 

Good stuff, Dave.

Like others though, I’ll hang onto my personal ones !

👍

[Jambo61]

4 hours ago, Jonkel Hoon said:

No chance. I've got thousands of them which cost a small fortune. I'll proudly keep them unti I draw my last breath.

 

FOH can have them when I bite the dust. Its already in my will.

Quite right be proud, but at least recognise they were worthless and the shareholders dinners have lost their shine! The shareholders should have no sway in the 'new' Hearts!

[Jambo61]

1 hour ago, davemclaren said:

I still have my own shares, mainly for sentimental reasons and so I can go to the monthly HMSA dinners. 

Understand the sentiments, but the shareholders dinners are now simply a fund raiser for Hearts catering! Their day has gone!

[davemclaren]

11 hours ago, Footballfirst said:

Thanks for the update Dave. I was always a bit cautious of mentioning the 300k holding as it was in your name, rather that that of JKB, as I thought it may have been a personal holding.

 

The transfer will take FOH up to approx 75.54% of the club (includes transfers from Bidco, HYDC and JKB).

 

I will hang on to my own shares in the club as it will at least give me a voice in "club" matters at AGMs, in contrast to the hands off approach of FOH. 

I did notice you didn’t mention those 300,000 shares. And no, I didn’t personally buy £40k worth of shares to help save the club. 😄

[Francis Albert]

I don't suppose Ann will be handing over her shares (the great majority of non - FOH holdings) to FOH. And I don't understand why any non-FOH shares should be handed over either. I think it is healthy for small shareholders to have an independent voice.

After all the majority of Hearts fans are not FOH members.

[davemclaren]

Just now, Jambo61 said:

Understand the sentiments, but the shareholders dinners are now simply a fund raiser for Hearts catering! Their day has gone!

Why has their day gone if people enjoy attending them? And they raise a lot more for the club than just utilising the catering staff and facilities. 
 

They still represent a group of small shareholders, as they have always done. 

[davemclaren]

1 minute ago, Francis Albert said:

I don't suppose Ann will be handing over her shares (the great majority of non - FOH holdings) to FOH. And I don't understand why any non-FOH shares should be handed over either. I think it is healthy for small shareholders to have an independent voice.

After all the majority of Hearts fans are not FOH members.

The majority of Hearts fans are not shareholders either. 

[Francis Albert]

3 minutes ago, Jambo61 said:

Understand the sentiments, but the shareholders dinners are now simply a fund raiser for Hearts catering! Their day has gone!

When did they ever have their day? Like small shareholders in every business they are no more than of nuisance value - but they do occasionally have some value as a nuisance!

[Francis Albert]

2 minutes ago, davemclaren said:

The majority of Hearts fans are not shareholders either. 

Well no. I did not suggest they were. 

[davemclaren]

2 minutes ago, Francis Albert said:

Well no. I did not suggest they were. 

I agree with you. Having a group of small shareholders is a good thing imo. 

[Guest]

24 minutes ago, Jambo61 said:

Quite right be proud, but at least recognise they were worthless and the shareholders dinners have lost their shine! The shareholders should have no sway in the 'new' Hearts!

I know what you mean, but I don't see then as worthless in the sense that my - and others - purchase of shares (financial donations!) helped the club limp along until it was saved. 

 

Its symbolic and Id never sell them but they will in theory have some value.  If an offer was made for the club I could sell them.  The share certificate I have says they are worth 10p a share.  Based on that I'd actually receive a reasonable amount, but as I say they are not for sale under any circumstances.

 

I also tried to buy some more from a company who held shares and went bust.   I offered the liquidator 10p a share, but the amount I guess was so nominal they never got back to me about it 😞  

[Jambo61]

2 hours ago, davemclaren said:

Why has their day gone if people enjoy attending them? And they raise a lot more for the club than just utilising the catering staff and facilities. 
 

They still represent a group of small shareholders, as they have always done. 

Go to burger king then? Their day has gone as they are irrelevant!

[Jambo61]

2 hours ago, Francis Albert said:

When did they ever have their day? Like small shareholders in every business they are no more than of nuisance value - but they do occasionally have some value as a nuisance!

True......some may feel important, but actually irrelevant!

[Jambo61]

1 hour ago, Jonkel Hoon said:

I know what you mean, but I don't see then as worthless in the sense that my - and others - purchase of shares (financial donations!) helped the club limp along until it was saved. 

 

Its symbolic and Id never sell them but they will in theory have some value.  If an offer was made for the club I could sell them.  The share certificate I have says they are worth 10p a share.  Based on that I'd actually receive a reasonable amount, but as I say they are not for sale under any circumstances.

 

I also tried to buy some more from a company who held shares and went bust.   I offered the liquidator 10p a share, but the amount I guess was so nominal they never got back to me about it 😞  

FoH control the future, unlikely a sale would be forced the way it is all structured, if it is the club would have to be so far gone as back to square 1 in any case which would mean FoH would be helpless too! As you say a novelty holding and symbolic!

[davemclaren]

11 minutes ago, Jambo61 said:

Go to burger king then? Their day has gone as they are irrelevant!

That makes absolutely no sense. 

[Francis Albert]

2 hours ago, davemclaren said:

I agree with you. Having a group of small shareholders is a good thing imo. 

They certainly made things less comfortable for Rodney and the rest of Vlad's men.

 

Large companies go to some lengths to shut up small shareholders, demonstrating that they have a nuisance value and can at least embarrass managememnt., for example when they ask awkward questions about management bonuses and salaries which large institutional shareholders tend to avoid as they are deep in the honey pot themselves.

[davemclaren]

Just now, Francis Albert said:

They certainly made things less comfortable for Rodney and the rest of Vlad's men.

 

Large companies go to some lengths to shut up small shareholders, demonstrating that they have a nuisance value and can at least embarrass managememnt., for example when they ask awkward questions about management bonuses and salaries which large institutional shareholders tend to avoid as they are deep in the honey pot themselves.

Absolutely. 

[Jambo61]

23 minutes ago, davemclaren said:

That makes absolutely no sense. 

It makes perfect sense........the shares were bankrupt, worthless, saved only in name by FoH, they have no power to effect anything! If the 'shareholders' can do anything the FoH can't then the games a bogey anyway!

[billybalfour]

12 minutes ago, Jambo61 said:

It makes perfect sense........the shares were bankrupt, worthless, saved only in name by FoH, they have no power to effect anything! If the 'shareholders' can do anything the FoH can't then the games a bogey anyway!

I don't think one person who attends the dinners think they can influence anything.It is a decent evening where funds are raised for the club and speakers are usually Hearts orientated.Joe Savage this Thursday and it is quite interesting to get the point of view of people who are or have been involved with the club.The committee do a good job organising all this and it is all  to easy for smart arses like you to criticise.Much ,much more is raised for the club at these dinners than you will ever have contributed.I suggest you get yourself an invite along to one if you aren't a shareholder to see what they are all about.

You would soon see that not all fans are keyboard warriors and actually like to bring up their points face to face.

[davemclaren]

20 minutes ago, Jambo61 said:

It makes perfect sense........the shares were bankrupt, worthless, saved only in name by FoH, they have no power to effect anything! If the 'shareholders' can do anything the FoH can't then the games a bogey anyway!

Shares don’t go bankrupt. The current small shareholders have exactly the same legal rights, and influence, as they’ve always had ( well at least since the first majority shareholder arrived in 1981 ). They also like spending their money at Tynecastle and raising funds for the club. Strange comments. 

[McCrae]

8 hours ago, Mr Sifter said:

I bought shares when the shit hit the fan with Vlad. Ive got two certificates, one when I initially bought them, and another which arrived shortly after Anne took over. What was that all about? Also, someone once pointed out to me that these weren’t really ‘real’ shares ie I couldn’t attend AGMs and the like off the back of owning them. Was/is this true? (I should point out that, like most others, I only bought them because we were in trouble, I have no intention of attending any AGMs or gettin involved in the club in this way) 👍🏼

The shares Vlad issued were never registered or authorised and the money raised from them disappeared with Vlad. If he was still around it is likely the Police would be interviewing him regarding the possibility of fraud. When AB took over she recognised the problem and made sure fans who bought the shares didn’t lose out. She didn’t need to, but she arranged for fans to receive shares they thought they had bought in the club. The JKB shares were part of this mess. AB deserves credit for doing this… 

[davemclaren]

Just now, McCrae said:

The shares Vlad issued were never registered or authorised and the money raised from them disappeared with Vlad. If he was still around it is likely the Police would be interviewing him regarding the possibility of fraud. When AB took over she recognised the problem and made sure fans who bought the shares didn’t lose out. She didn’t need to, but she arranged for fans to receive shares they thought they had bought in the club. The JKB shares were part of this mess. AB deserves credit for doing this… 

Legally they had bought the shares, it’s just the money raised evaporated. 😄

[Jambo-Fox]

2 hours ago, Jonkel Hoon said:

I know what you mean, but I don't see then as worthless in the sense that my - and others - purchase of shares (financial donations!) helped the club limp along until it was saved. 

 

Its symbolic and Id never sell them but they will in theory have some value.  If an offer was made for the club I could sell them.  The share certificate I have says they are worth 10p a share.  Based on that I'd actually receive a reasonable amount, but as I say they are not for sale under any circumstances.

 

I also tried to buy some more from a company who held shares and went bust.   I offered the liquidator 10p a share, but the amount I guess was so nominal they never got back to me about it 😞  

Recently you had the chance to cash in (voluntarily) if you had wanted to as part of the FOH takeover! Fortunately for you and others who hold shares the FOH did not need to make a mandatory offer!

The value of the shares / offer was 0.085 pence per share!

 

“The Foundation has today completed the purchase of 117,515,153 ordinary shares in the Company, representing 75.1% of the entire issued share capital of the Company, from Bidco for aggregate cash consideration of £100,000 (reflecting a price of 0.085 pence per share) (the "Transfer”).

TheFoundation confirms that it will not make a mandatory offer under Rule 9 of the Code.

If any shareholder of the Company is looking to realise their investment at the same price per share paid by the Foundation for the Transfer, please contact the Foundation …

[Jambo61]

11 minutes ago, billybalfour said:

I don't think one person who attends the dinners think they can influence anything.It is a decent evening where funds are raised for the club and speakers are usually Hearts orientated.Joe Savage this Thursday and it is quite interesting to get the point of view of people who are or have been involved with the club.The committee do a good job organising all this and it is all  to easy for smart arses like you to criticise.Much ,much more is raised for the club at these dinners than you will ever have contributed.I suggest you get yourself an invite along to one if you aren't a shareholder to see what they are all about.

You would soon see that not all fans are keyboard warriors and actually like to bring up their points face to face.

Been to one, it was like an old mans club.......then again a smart 'guy' like you knows that.

If you get your kicks from a talking shop, well done!

I see the shareholder certificate like my plot holder certificate, a nice momento. That's it!

If the dinner can raise anything the FoH can't I'd be most surprised!

Don't choke on your starter, but feel good about being there, well done again!

Edited September 29, 2021 by Jambo61
spelling error

[Jambo61]

8 minutes ago, davemclaren said:

Shares don’t go bankrupt. The current small shareholders have exactly the same legal rights, and influence, as they’ve always had ( well at least since the first majority shareholder arrived in 1981 ). They also like spending their money at Tynecastle and raising funds for the club. Strange comments. 

Split hairs, the club was bankrupt. The new set-up allowed the shareholders to persist, but they are outvoted in all respects! If you want to spend money at Tynie no way am I against that! Strange sense of some kind of superiority you have?

[Francis Albert]

27 minutes ago, davemclaren said:

Legally they had bought the shares, it’s just the money raised evaporated. 😄

I think at least some of the money might have contributed to the club staggering on for a few months without  going into liquidation or being kicked out or penalised further for not paying players. While FOH were still getting their act together to be on a position to accept DDs. I think Fedotovas deserves some credit in what must have been hugely difficult circumstances.

Anyway why the hostility to small shareholders? They never did or will do any harm. Large shareholders on the other hand ...

 

Edited September 29, 2021 by Francis Albert

[Footballfirst]

21 minutes ago, Jambo61 said:

Split hairs, the club was bankrupt. The new set-up allowed the shareholders to persist, but they are outvoted in all respects! If you want to spend money at Tynie no way am I against that! Strange sense of some kind of superiority you have?

How much is the club worth now?

 

£10m, £20m, £30m,

At £10m the 156,478,232 shares would be worth 6.4p each, at £20m 12.8p and at £30m 19.2p.

 

That's quite an uplift from the 0.085p a share that AB and subsequently FOH acquired them, notwithstanding FOH's funding of the club before the transfer transaction.

 

Edited September 29, 2021 by Footballfirst

[Francis Albert]

23 minutes ago, Jambo61 said:

Been to one, it was like an old mans club...

Ageism. One of the last permissible prejudices.

[davemclaren]

27 minutes ago, Jambo61 said:

Split hairs, the club was bankrupt. The new set-up allowed the shareholders to persist, but they are outvoted in all respects! If you want to spend money at Tynie no way am I against that! Strange sense of some kind of superiority you have?

Sense of superiority? I think you have the self status issues. 😄

[davemclaren]

7 minutes ago, Francis Albert said:

Ageism. One of the last permissible prejudices.

It’s a fair point I have to say. 

[Jambo61]

23 minutes ago, Footballfirst said:

How much is the club worth now?

 

£10m, £20m, £30m,

At £10m the 156,478,232 shares would be worth 6.4p each, at £20m 12.8p and at £30m 19.2p.

 

That's quite an uplift from the 0.085p a share that AB and subsequently FOH acquired them, notwithstanding FOH's funding of the club before the transfer transaction.

 

You are aware the club cannot be sold without a supermajority vote and no monies are released from the FoH side to members? So 1) as I said many times before the bankrupt 'shares' have been treated very very leniently as they should not actually exist and 2) FoH is set up for stalemate re major changes......only a sale of last resort would be likely, and by then you'd presumably be back at square 1 i.e. bust!

[Jambo61]

26 minutes ago, Francis Albert said:

Ageism. One of the last permissible prejudices.

If it makes you feel better, I'm included!

[Jambo61]

20 minutes ago, davemclaren said:

Sense of superiority? I think you have the self status issues. 😄

Cheers....permission to look down at you 👍🏼😄