Foley deal with Hibs approved ( updated )

[Sooks]

8 minutes ago, John Findlay said:

Him and a poster called Brightside.

Yip . They are clearly shills 

[HMFC01]

1 hour ago, Rick Sanchez said:

 

 

 

Reading that tells me if Leslie Robb and the individual share holders vote yes for investing , it won't matter what hsl vote for.   

 

It would leave afew bitter fans I would think.   Unless they come around to it in future.   

 

I think it will go through.   It seems to be the narrative. 

 

 

Edited February 24 by HMFC01

[Sooks]

1 minute ago, HMFC01 said:

 

Reading that tells me if Leslie Robb and the individual share holders vote against, it won't matter what hsl vote for.   

 

It would leave afew bitter fans I would think.   Unless they come around to it in future.   

 

I think it will go through.   It seems to be the narrative. 

 

 

The whispers are that Robb will agree to it , so hopefully it goes through . It is going to be absolutely joyful watching them starting to slowly understand their new reality  

[HMFC01]

10 minutes ago, Sooks said:

The whispers are that Robb will agree to it , so hopefully it goes through . It is going to be absolutely joyful watching them starting to slowly understand their new reality  

 

I've edited my post to L Robb voting yes.   I put against it originally. 

 

😵‍💫

 

Anyway, I can see why Foley would want to invest money to upgrade training facilities.   He's looking out for his own interests first but with a sweetener for safe standing.   I mean if your sending your players to that shit hole you want better facilities. Even though the fans think they're getting money ploughed in for nothing.  

 

Hard to say how it will benefit Hibs in the long run.   They may get more investment over time if the player loan system is successful.   He might reward the club with more money but still looking for something in return. 

 

I dunno 🤷‍♂️

 

 

[John Findlay]

21 minutes ago, HMFC01 said:

 

Reading that tells me if Leslie Robb and the individual share holders vote yes for investing , it won't matter what hsl vote for.   

 

It would leave afew bitter fans I would think.   Unless they come around to it in future.   

 

I think it will go through.   It seems to be the narrative. 

 

 

A little off Linkedin with regard to Leslie Robb.

[Sooks]

1 minute ago, HMFC01 said:

 

I've edited my post to L Robb voting yes.   I put against it originally. 

 

😵‍💫

 

Anyway, I can see why Foley would want to invest money to upgrade training facilities.   He's looking out for his own interests first but with a sweetener for safe standing.   I mean if your sending your players to that shit hole you want better facilities. Even though the fans think they're getting money ploughed in for nothing.  

 

Hard to say how it will benefit Hibs in the long run.   They may get more investment over time if the player loan system is successful.   He might reward the club with more money but still looking for something in return. 

 

I dunno 🤷‍♂️

 

 

I think the problem for them will be the ethos of the club . Players will be signed and loaned with the singular hope and ambition of eventually playing for Bournemouth . I can see rafts of changes every season because a settled and successful Hibs team is basically an irrelevance 

[John Findlay]

Just now, John Findlay said:

A little off Linkedin with regard to Leslie Robb.

I guess if he trusts Gordon and BK, he votes with them, if not he votes against.

I would suggest he as an individual is no mug.

[Craig_]

Reading all this shite just makes me eternally grateful for the position we're in. God knows, we had to get through some tough times, but this really is a wonderful time to be a Jambo! 

[scott herbertson]

4 minutes ago, John Findlay said:

I guess if he trusts Gordon and BK, he votes with them, if not he votes against.

I would suggest he as an individual is no mug.

 

 

He trusts them enough to be a LLP in  a company they are also associated with in the same capacity. That suggests to me he is going to vote with them andby implication  the whole thing is quite thoroughly planned to take full control 

 

https://find-and-update.company-information.service.gov.uk/company/SO307675/officers

[Cameronstheman]

23 minutes ago, Craig_ said:

Reading all this shite just makes me eternally grateful for the position we're in. God knows, we had to get through some tough times, but this really is a wonderful time to be a Jambo! 

This 

[Mr Sifter]

What am I missing here? The DR tweet says the second biggest shareholder is goin to vote against the resolution. Isn’t this guy Robb the second biggest shareholder?

 

The Gordons - 1st

This Robb guy - 2nd

HSL - 3rd

 

Naw?

[Sooks]

5 minutes ago, Mr Sifter said:

What am I missing here? The DR tweet says the second biggest shareholder is goin to vote against the resolution. Isn’t this guy Robb the second biggest shareholder?

 

The Gordons - 1st

This Robb guy - 2nd

HSL - 3rd

 

Naw?

The Record article is a bigger shambles than Hibs defence 

 

What has happened , is HSL held an AGM and polled members on how they would like them to vote on the changes to the articles of association at Hibs which is necessary for the investment to take place 

 

The members voted against because they did not agree with the drag along change and were wary of the share dilution 

 

Bydand / Gordon sprogs are the biggest shareholder

 

Then HSL

 

Then Robb

 

HSL need Robb to vote in line with them to block it

 

Bydand need either Robb or HSL to vote with them to get it done

 

 

Edited February 24 by Sooks

[Ex member of the SaS]

On a side note, If Hibs go bust should we buy the training ground from Foley?

[Mr Sifter]

Just now, Sooks said:

The Record article is a bigger shambles than Hibs defence 

 

What has happened , is HSL held an AGM and polled members on how they would like them to vote on the changes to the articles of association at Hibs which is necessary for the investment to take place 

 

The members voted against because they did not agree with the drag along change and were wary of the share dilution 

 

Bydand / Gordon sprigs are the biggest shareholder

 

Then HSL

 

Then Robb

 

HSL need Robb to vote in line with them to block it

 

Bydand need either Robb or HSL to vote with them to get it done

 

 

Right. Gotcha. Cheers 👍🏼

[Sooks]

1 minute ago, Ex member of the SaS said:

On a side note, If Hibs go bust should we buy the training ground from Foley?

No ****ing chance . It is shite 

[Mikey1874]

My reading of the .net thread was that HSL held their own AGM and voted on this. Its not just one person making it their own agenda. 

[fabienleclerq]

49 minutes ago, HMFC01 said:

 

I've edited my post to L Robb voting yes.   I put against it originally. 

 

😵‍💫

 

Anyway, I can see why Foley would want to invest money to upgrade training facilities.   He's looking out for his own interests first but with a sweetener for safe standing.   I mean if your sending your players to that shit hole you want better facilities. Even though the fans think they're getting money ploughed in for nothing.  

 

Hard to say how it will benefit Hibs in the long run.   They may get more investment over time if the player loan system is successful.   He might reward the club with more money but still looking for something in return. 

 

I dunno 🤷‍♂️

 

 

 

Is the facilities upgrade not to do with the sfa? Did they not say any investment have to involve infrastructure?

[Sooks]

4 minutes ago, Mikey1874 said:

My reading of the .net thread was that HSL held their own AGM and voted on this. Its not just one person making it their own agenda. 

That is exactly what happened 

[Mikey1874]

6 minutes ago, Sooks said:

That is exactly what happened 

 

But a lot of Hibs fans don't get that. See also replies to this.

 

 

[Sooks]

1 minute ago, Mikey1874 said:

 

But a lot of Hibs fans don't get that. See also replies to this.

 

 

I know  

[1971fozzy]

Robb must be on board with Foley. The HSL decision to oppose won’t affect it going through thank god.

This whole investment will be horrendous for hibs. Diluting shares and chucking any old players up and down the road on loans. I can see cliques, unrest and zero identity. It’s hugely likely to be a shambles. A bit like us in the end under Romanov. No manager worth his salt will touch that club being told who to play and being landed with players he will have little to no say in coming or going and told to play.

If I was a Hibs supporter I’d be very concerned and bang against it. 
for us it’s popcorn time if this hopefully goes through 

[Sooks]

This guy acting like Al Capone threatening to attack striking workers  

[OTT]

1 minute ago, Mikey1874 said:

 

But a lot of Hibs fans don't get that. See also replies to this.

 

 

 

The HSL sounds like everything that the FOH isn't  

 

I've been wondering why the HSL couldn't take off, and that tweet I think has my question well and truly asked and answered. 

 

Probably worth also making the point that the people involved in the FOH deserve huge credit for not using it for self serving means or as anything other than the vehicle it was intended for as that seems like a driving force on why the HSL has utterly failed to pick up steam. 

[milky_26]

1 minute ago, Sooks said:

This guy acting like Al Capone threatening to attack striking workers  

they will wake up with a rats head next to them. a bit of a change to having the rats droppings in the food at the san giro

[Mikey1874]

6 minutes ago, OTT said:

 

The HSL sounds like everything that the FOH isn't  

 

I've been wondering why the HSL couldn't take off, and that tweet I think has my question well and truly asked and answered. 

 

Probably worth also making the point that the people involved in the FOH deserve huge credit for not using it for self serving means or as anything other than the vehicle it was intended for as that seems like a driving force on why the HSL has utterly failed to pick up steam. 

 

In the early days the guys struggled a bit with communication and credibility. But that's when Ian Murray came in and took over communication. We were always more united but a lot of effort was made to improve communication and answer questions. They've never got beyond that negativity. 

[John Findlay]

1 hour ago, scott herbertson said:

 

 

He trusts them enough to be a LLP in  a company they are also associated with in the same capacity. That suggests to me he is going to vote with them andby implication  the whole thing is quite thoroughly planned to take full control 

 

https://find-and-update.company-information.service.gov.uk/company/SO307675/officers

Yes, it certainly looks that way.

I suggest interesting times ahead down Easter Road way.

[sac]

HSL are against it, but want the investment because they think it will make them a force to be reckoned with, according to my retired deluded hobo colleague.🤭

[Sooks]

Just now, sac said:

HSL are against it, but want the investment because they think it will make them a force to be reckoned with, according to my retired deluded hobo colleague.🤭

The Gordons ran up a debt in order to strongarm their supporters in to agreeing to this . If they do not vote it through then the Gordons will not swap the debt for equity and Hibs will owe them around five million that we know of , probably more . The same Gordons that have floating charges over all of Hibs assets . Maybe Foley would be happy enough just to get the training centre and have Hibs pay rent 

[sac]

1 minute ago, Sooks said:

The Gordons ran up a debt in order to strongarm their supporters in to agreeing to this . If they do not vote it through then the Gordons will not swap the debt for equity and Hibs will owe them around five million that we know of , probably more . The same Gordons that have floating charges over all of Hibs assets . Maybe Foley would be happy enough just to get the training centre and have Hibs pay rent 

I think the debt is a result of failed managers and overpaying poor players. Without some sales in the past two or three seasons they would be screwed big time

[Sooks]

6 minutes ago, sac said:

I think the debt is a result of failed managers and overpaying poor players. Without some sales in the past two or three seasons they would be screwed big time

Now that the debt exists it is leverage though . Vote for the Foley deal and we will swap it for equity in the club and maintain our strong majority ownership . Do not vote for it and Hibs have to pay the Gordon’s back in cash ……….. the same Gordon’s who have floating charges over everything 

[buzzbomb1958]

1 hour ago, John Findlay said:

A little off Linkedin with regard to Leslie Robb.

I’m sure Craig Whyte said the same about himself 🤣🤣🤣🤣🤣

[buzzbomb1958]

1 hour ago, Ex member of the SaS said:

On a side note, If Hibs go bust should we buy the training ground from Foley?

**** that their tactics might rub off on us 

[John Findlay]

9 minutes ago, buzzbomb1958 said:

I’m sure Craig Whyte said the same about himself 🤣🤣🤣🤣🤣

My personal opinion, and it's just my opinion is that Craig Whyte was David Murray's Patsy, and was paid handsomely for playing his part.

[indianajones]

So this is falling through? 

 

Really think it was a bad move for Hibs so might be good news for them although it seems like its a very divisive topic between them all. 

 

 

[Yoda]

1 hour ago, OTT said:

 

The HSL sounds like everything that the FOH isn't  

 

I've been wondering why the HSL couldn't take off, and that tweet I think has my question well and truly asked and answered. 

 

Probably worth also making the point that the people involved in the FOH deserve huge credit for not using it for self serving means or as anything other than the vehicle it was intended for as that seems like a driving force on why the HSL has utterly failed to pick up steam. 

HSL should have reached out to FOH for some guidance on how to make a success of it, but they couldn't swallow a bit of pride and thought they knew better.

 

They are now having to sit back and watch 2 groups of American businessmen, with no emotional attachment to H1b5 or Edinburgh, dividing up their club and assets.

[OTT]

2 minutes ago, Yoda said:

HSL should have reached out to FOH for some guidance on how to make a success of it, but they couldn't swallow a bit of pride and thought they knew better.

 

They are now having to sit back and watch 2 groups of American businessmen, with no emotional attachment to H1b5 or Edinburgh, dividing up their club and assets.

 

Yeah, you're spot on there. IIRC the FOH has offered guidance elsewhere on how to set up a fan ownership model successfully? Not sure if its been Motherwell and maybe some English clubs too? But can remember Stuart Wallace saying something to that effect. 

 

TBH I wouldn't have wanted the FOH involved with helping set up the HSL. Their conduct as a fan base whilst we faced potential liquidation was rank rotten (especially given the involvement of our own supporters in hands off hibs during the Mercer years) I think leaving them to their own devices is best.

[Yoda]

11 minutes ago, OTT said:

 

Yeah, you're spot on there. IIRC the FOH has offered guidance elsewhere on how to set up a fan ownership model successfully? Not sure if its been Motherwell and maybe some English clubs too? But can remember Stuart Wallace saying something to that effect. 

 

TBH I wouldn't have wanted the FOH involved with helping set up the HSL. Their conduct as a fan base whilst we faced potential liquidation was rank rotten (especially given the involvement of our own supporters in hands off hibs during the Mercer years) I think leaving them to their own devices is best.

100% agree.

[Locky]

7 hours ago, John Findlay said:

A little off Linkedin with regard to Leslie Robb.

Bailie Gifford? Pals with Jimmy Anderson? Doesn't want Hibs invested in if it poses a threat to his good pal Jimmy's business interest. PHM.

[RobNox]

5 hours ago, indianajones said:

So this is falling through? 

 

Really think it was a bad move for Hibs so might be good news for them although it seems like its a very divisive topic between them all. 

 

 

It won't fall through.  The first 2 resolutions at their AGM are to issue new shares, one chunk for the Gordons to replace their debts, the other chunk to Foley for £6m investment.  These are ordinary resolutions so only need 50% +1 vote to be passed, so it's a given.

 

The bit HSL is against is the special resolution to waive pre-emptive rights, those are the rights for all existing shareholders to be allowed to participate in any new share issue so they can protect their holding from being diluted.  This is a special resolution so needs 75% to pass, hence the Gordons can't just push them through on their own.

 

The amusing thing about them voting against it is that even if the guy Robb also opposes it and it fails, HSL has nowhere near enough money to buy the shares they'd need to in order to prevent any dilution.  On my fag packet calculation, If Foley is paying £6m for his proposed chunk of shares and the Gordon are writing off just short of £6m of debt for their shares, then you can assume that the total value of the new share issue is c £12m.  HSL currently has a c.15% stake, so to preserve that they would need to take up 15% of the new shares, which could cost £1.8m or thereabouts.

 

They currently have £300k in the bank (a couple of months FOH subs 😂), so basically could only take up 2.5% of the new shares and their holding would be diluted to under 10%, making them even more irrelevant than they already are.  Of course, that's unless HSL manages to successfully rally the wonderful Hibs support to raise the other £1.5m required. 

[D4nny_]

This isn’t getting blocked. Absolutely no way.

 

HSL have actually done the right thing here in my opinion, but Robb will vote in favour. There’s no way he hasn’t already been sounded out.

 

[D4nny_]

4 hours ago, RobNox said:

It won't fall through.  The first 2 resolutions at their AGM are to issue new shares, one chunk for the Gordons to replace their debts, the other chunk to Foley for £6m investment.  These are ordinary resolutions so only need 50% +1 vote to be passed, so it's a given.

 

The bit HSL is against is the special resolution to waive pre-emptive rights, those are the rights for all existing shareholders to be allowed to participate in any new share issue so they can protect their holding from being diluted.  This is a special resolution so needs 75% to pass, hence the Gordons can't just push them through on their own.

 

The amusing thing about them voting against it is that even if the guy Robb also opposes it and it fails, HSL has nowhere near enough money to buy the shares they'd need to in order to prevent any dilution.  On my fag packet calculation, If Foley is paying £6m for his proposed chunk of shares and the Gordon are writing off just short of £6m of debt for their shares, then you can assume that the total value of the new share issue is c £12m.  HSL currently has a c.15% stake, so to preserve that they would need to take up 15% of the new shares, which could cost £1.8m or thereabouts.

 

They currently have £300k in the bank (a couple of months FOH subs 😂), so basically could only take up 2.5% of the new shares and their holding would be diluted to under 10%, making them even more irrelevant than they already are.  Of course, that's unless HSL manages to successfully rally the wonderful Hibs support to raise the other £1.5m required. 

 Very interesting and good summary point. It’s probably

worth noting that your average (certainly Hibs) football punter has absolutely no clue on how share dilution, etc works or even what it means. Let’s be real, the majority of them will be seeing the £6m “injection” and assume it’s going to the first team to challenge for the title

 

Put it this way. I’m glad it’s not Hearts Foley is trying to “invest” in! Much prefer the setup we have!

Edited February 25 by D4nny_

[FarmerTweedy]

5 hours ago, RobNox said:

It won't fall through.  The first 2 resolutions at their AGM are to issue new shares, one chunk for the Gordons to replace their debts, the other chunk to Foley for £6m investment.  These are ordinary resolutions so only need 50% +1 vote to be passed, so it's a given.

 

The bit HSL is against is the special resolution to waive pre-emptive rights, those are the rights for all existing shareholders to be allowed to participate in any new share issue so they can protect their holding from being diluted.  This is a special resolution so needs 75% to pass, hence the Gordons can't just push them through on their own.

 

The amusing thing about them voting against it is that even if the guy Robb also opposes it and it fails, HSL has nowhere near enough money to buy the shares they'd need to in order to prevent any dilution.  On my fag packet calculation, If Foley is paying £6m for his proposed chunk of shares and the Gordon are writing off just short of £6m of debt for their shares, then you can assume that the total value of the new share issue is c £12m.  HSL currently has a c.15% stake, so to preserve that they would need to take up 15% of the new shares, which could cost £1.8m or thereabouts.

 

They currently have £300k in the bank (a couple of months FOH subs 😂), so basically could only take up 2.5% of the new shares and their holding would be diluted to under 10%, making them even more irrelevant than they already are.  Of course, that's unless HSL manages to successfully rally the wonderful Hibs support to raise the other £1.5m required. 

All the resolutions have to be passed or none of them go ahead. The resolutions for the Foley investment and the dfe swap are contingent on the resolution on pre-emptive rights also passing.

[Locky]

8 hours ago, D4nny_ said:

 Very interesting and good summary point. It’s probably

worth noting that your average (certainly Hibs) football punter has absolutely no clue on how share dilution, etc works or even what it means. Let’s be real, the majority of them will be seeing the £6m “injection” and assume it’s going to the first team to challenge for the title

 

Put it this way. I’m glad it’s not Hearts Foley is trying to “invest” in! Much prefer the setup we have!

They most definitely already think that. Remember when Ron Gordon took over (5 years ago this summer) and they all said he was their Vlad and that they were going to sign everyone and anyone they wanted. 

 

5 years on, they've won **** all, finished in the top 6 twice and still have Paul Hanlon and Lewis Stevenson.

[Mikey1874]

20 hours ago, RobNox said:

It won't fall through.  The first 2 resolutions at their AGM are to issue new shares, one chunk for the Gordons to replace their debts, the other chunk to Foley for £6m investment.  These are ordinary resolutions so only need 50% +1 vote to be passed, so it's a given.

 

The bit HSL is against is the special resolution to waive pre-emptive rights, those are the rights for all existing shareholders to be allowed to participate in any new share issue so they can protect their holding from being diluted.  This is a special resolution so needs 75% to pass, hence the Gordons can't just push them through on their own.

 

The amusing thing about them voting against it is that even if the guy Robb also opposes it and it fails, HSL has nowhere near enough money to buy the shares they'd need to in order to prevent any dilution.  On my fag packet calculation, If Foley is paying £6m for his proposed chunk of shares and the Gordon are writing off just short of £6m of debt for their shares, then you can assume that the total value of the new share issue is c £12m.  HSL currently has a c.15% stake, so to preserve that they would need to take up 15% of the new shares, which could cost £1.8m or thereabouts.

 

They currently have £300k in the bank (a couple of months FOH subs 😂), so basically could only take up 2.5% of the new shares and their holding would be diluted to under 10%, making them even more irrelevant than they already are.  Of course, that's unless HSL manages to successfully rally the wonderful Hibs support to raise the other £1.5m required. 

 

HSL explain a bit more about it here

 

https://hiberniansupporters.co.uk/hibernian-supporters-agm-update/

[John Findlay]

26 minutes ago, Mikey1874 said:

 

HSL explain a bit more about it here

 

https://hiberniansupporters.co.uk/hibernian-supporters-agm-update/

Forget how much money HSL currently have.

This is a move by the current owners, the Gordon family and the Black Knights to stop Hibs supporters having any say on how their club is run, and no say in any future sale of the club whatsoever. They don't want any supporter having shares in the club 

As, I have posted elsewhere, on the face of it £6M investment from the BK may seem very attractive in the headline, but the Gordon's and BK are keeping stumph on anything else.

Now let's say Hibs end up in admin like ourselves, I personally believe that American owners will be far more difficult to deal with than Lithuanian owners. Americans don't like to lose one cent.

They play hardball more than anyone else when it comes to dollars/cents or pounds/pence.

I fully see where HSL are coming from.

[Hashimoto]

I see bigger issues for hibs here. it all centres around the success or failure of Bournemouth. Foley only keeps his interest alive on the success of one club only. The rest of his feeder clubs are all potential collateral damage.   

hibs badly need his cash, however the long term prospects are not good.

Edited February 25 by Hashimoto

[Section Q]

I think we should send a letter of support to Foley and suggest a new Costco would look good on the site.

 

https://www.footballscotland.co.uk/spfl/scottish-premiership/hibs-shareholder-clarifies-bill-foley-28701628

[Deevers]

On 24/02/2024 at 14:08, Sooks said:

The Gordons ran up a debt in order to strongarm their supporters in to agreeing to this . If they do not vote it through then the Gordons will not swap the debt for equity and Hibs will owe them around five million that we know of , probably more . The same Gordons that have floating charges over all of Hibs assets . Maybe Foley would be happy enough just to get the training centre and have Hibs pay rent 

There’s been a huge effort on .net to rubbish HSL at every turn. Ponzi scheme etc etc.  You  would almost think that it’s been encouraged or maybe even orchestrated by people with some sort of financial interest in all of this.  Anyway all that it’s done is turn HSL into a flop. It’ll be an even bigger flop once all these changes into their constitution fall into place. Their supporters will be little more than Saturday cash top ups for those who hold the purse string.  Few shares and absolutely no influence. I wonder when the penny will eventually drop.

[Sooks]

2 minutes ago, Deevers said:

There’s been a huge effort on .net to rubbish HSL at every turn. Ponzi scheme etc etc.  You  would almost think that it’s been encouraged or maybe even orchestrated by people with some sort of financial interest in all of this.  Anyway all that it’s done is turn HSL into a flop. It’ll be an even bigger flop once all these changes into their constitution fall into place. Their supporters will be little more than Saturday cash top ups for those who hold the purse string.  Few shares and absolutely no influence. I wonder when the penny will eventually drop.

TrinityHFC absolutely reeks of this . Wonder if he is Leslie Robb . Previously suspected he might be Snakey Kensell

[Ex member of the SaS]

Don't know if it's been mentioned but it looks like this deal is a stepping stone for Foley to take over all control. Once this goes through and after a short time Foley will make a go at buying out al the shares and the feeder club will be just an spot on the map filled with trialists and not quite good enough players Bournemouth signed but didn't work out.