- Joined
- Jun 28, 2002
Seems ok to me. Shares given out…. Money received and ringfenced for player budget.
As long as Peter Murrell type ringfencing isn’t adopted of course.
Raise the Game
- Thread starter OfficialHSL
- Start date
As long as Peter Murrell type ringfencing isn’t adopted of course.
OfficialHSL
Private Member
- Joined
- Feb 4, 2016
This is dependent on how any share issue is structured by the club. That decision is made by the majority shareholders.
We last purchased shares in 2025 (c£340k), before that was 2024 (c£165k), and before that was 2020 (pre Covid).
With around £120k a year in donations at the moment, we are in need of a boost to our membership numbers following £500k being put into the club over the last couple of years.
Any money used to buy shares effectively goes straight into the club’s bank account.
What that money is used for by the club can be decided by the club. For this campaign we are asking the club to use funds raised by HSL members to increase the playing budget.
- Joined
- Jun 27, 2002
Just a minor clarification; you stopped being able to aubsribe to shares in July 2019 when the Gordon’s took over and bought up all available shares?
So there was no share purchases between 2019 and 2024?
OfficialHSL
Private Member
- Joined
- Feb 4, 2016
Yes that’s correct.
The shares purchased pre Covid were in our year ended 31st Jan 2020 - they’d have been purchased pre takeover in 2019.
emerald green
Private Member
- Joined
- Jan 12, 2006
still finding this thread a tad confusing..... HSL are now buying shares in HFC again?
Easter Rising
New radge
- Joined
- Oct 18, 2017
Yes, that's what the organisation was created for. But unlike the first four or five years of its existence when they could buy shares every month, they can now only buy them when new shares are issued. And that's down to the Gordon Family.
As I understand it, the only shares they are able to buy now are newly issued ones. Hence the money goes straight into the club rather than the pockets of other shareholders. Existing shares owned by other shareholders are not for sale.
Though i'm by no means an expert and that may be wrong.
- Joined
- Jan 31, 2008
Tbh I’m the same
- Joined
- Nov 24, 2002
Surely the money paid to the Club for the shares is used by the Club on the player budget? Seems straightforward to me.
- Joined
- Jan 31, 2008
But they can’t buy any just now but they want an extra £250k this year to give the club for player budget, so if you’ve gave the club that £250k then you can’t buy shares with it
Or I’m being a bit stupid, is been known to happen
- Joined
- Nov 24, 2002
Well I’d imagine they wouldn’t hand over the cash until a share issue takes place.But they can’t buy any just now but they want an extra £250k this year to give the club for player budget, so if you’ve gave the club that £250k then you can’t buy shares with it
Or I’m being a bit stupid, is been known to happen
- Joined
- Jan 31, 2008
Yeah, but that’s not what they’re saying
- Joined
- Dec 26, 2007
Why would a share issue take place?
I'm guessing the ones before were when Black Knight bought in, and then again when they were bought out?
The Gordon's don't need to dilute any more shares because they're well and truly in control of the club.
Unless someone else is coming to the table, HSL have been given a heads up to raise cash or lose out on keeping the 7% ?
Would that be allowed?
- Joined
- Nov 24, 2002
I give up then
- Joined
- Jan 31, 2008
I give up then
hence my post mate
- Joined
- Jun 27, 2002
From 2014 to 2019
There was shares that hadn’t been subscribed to and available to obtain. When Ron Gordon took over he procured all the available shares (that were earmarked for HSL) so HSL couldn’t obtain more shares.
I’m open to correction here but twice the Gordon’s as club owners have made more shares available and allowed HSL to subscribe. There may have been another issue prior to that the Gordon’s didn’t allow HSL to subscribe to which is the point their shareholding went down from 15% to 7.5%.
At this point; and again please correct me if I’m wrong, there are no shares for HSL to subscribe to because all the shares are issued and paid up. The club would have to create more. HSL are saying they have an agreement with the club to do this, which I suspect is informal. It probably needs to be formal because for example what would happen if the Gordon’s sold the club tomorrow.
If the Gordon’s sold the club tomorrow, the new owner could force every shareholder to sell their shares to the new owner at the terms accepted by the Gordon’s. I think that was recently added to the clubs articles of association.
So a new owner could force HSL to sell its shares. HSL would then have considerable funds which could only be diverted back to the club or a charity.
That’s my interpretation of where things are currently, but if anyone with better knowledge wants to add in feel free.