Hibu Share Discussion Threads

[freddie ferret] 07/11/2013 12:15

Sir Rat.
The only risk is the paltry financial contribution one has to make, this is only a small fraction of the purchase cost even if one purchased them just before the suspension. For most shareholders this is well less than 1% of the purchase price of the shares. Because there are so many shareholders signed up to the group and the number of shares they hold is vast, the fighting fund is actually very substantial, furthermore we have user friendly legal advice, sensible work for sensible money being the watchwords. It is expected that the matter will be resolved with the current funds and no further call on members will be necessary.

There are no other known risks to members that we can discern, this subject has been discussed at length on the secure HSG forum.

[nando01] 07/11/2013 08:23

Could you copy and paste the text Phoenix? Thanks

[reallyrich] 07/11/2013 02:09

Yes Knigel, it's like voting to bend over and take one for the team. What a stupid recommendation in the RNS

[sir rational] 06/11/2013 21:04

What is the potential risk (real question) by signing up to this action?

[knigel] 06/11/2013 20:55

Dear turkeys, please will you vote for Christmas at the General Meeting.. thanks - your directors

[dancing piranha] 06/11/2013 18:07

Oh dear... some just can't admit their stupidity and move on....

[freddie ferret] 05/11/2013 16:07

Roll up, roll up, the final day for HSG registrations is the 29th of November and I would strongly suggest you action this well before this date.

Proof of shareholding in HIBU
Proof of ID (Passport or Driving License)
Proof of address.

All to

[e-mail]

Things are likely to get very busy shortly and this is why applications will be refused after the 29th.

[freddie ferret] 31/10/2013 18:48

What is below is now history, however Barry Dearing is with us.




Shareholders who refused an offer of 1p a share for their stakes in sub-prime lender Cattles were yesterday celebrating a £16 million settlement.

The group of 60 claimants has been locked in a legal battle with Welcome Financial Services, a subsidiary of Cattles, since its shares were suspended in 2009.

The largest individual payout is thought to be more than £3m, while the smallest is around £6,000. Barry Dearing, who led the group, said: "This is a little justice for the little people. One elderly shareholder told me his settlement will pay for his knee operation."

Cattles, which went private last year in a bid to avoid administration, agreed at the "11th hour" to pay an average of 27p a share to 60 claimants who elected to be treated as creditors rather than shareholders. The settlement is thought to be the first time a subsidiary has paid compensation to shareholders in its collapsed parent company.

[ceebsy] 31/10/2013 08:43

Hi Jazzyjeff

Please email scans of contract notes and your ID to me at [e-mail]

Thanks

[jazzyjeffnett] 31/10/2013 00:56

hi ceebsy, I would like to join your group but the only photo I.D I have is my works I.D, my proof of holdings with Halifax contract notes via post. do you require my account numbers? thanks

[warwick69] 29/10/2013 10:51

£265 million cash could buy back 1.325 billion debt at 20p in the pound that is better than the renegotiation??? Debtors should be giving up much more and should have agreed something for shareholders... as digital is starting to account for 40% of revenue as oer the strategic plan intended move to more from digital.

EGM should defo change board and new board should pay shareholders a special divi before debtors steel the company theres plenty of cash for a dividend payment!!! stuff the debtors most of them probably paid peanuts for the debt and proably from the profit on all the shorted stock they borrowed from the institutions and pensioners of the UK. IMHO

[ceebsy] 29/10/2013 10:45

Please note that we will only be accepting new applications to join HSG until FRIDAY 29th NOVEMBER 2013. Applications will not be accepted after this date.

If you wish to join please send confirmation of your holdings and photo ID to [e-mail] (note plural)

[ceebsy] 29/10/2013 10:44

Please note that we will only be accepting new applications to join HSG until FRIDAY 29th NOVEMBER 2013. Applications will not be accepted after this date.

If you wish to join please send confirmation of your holdings and photo ID to [e-mail] (note plural)

[phoenix1234] 28/10/2013 12:31

an unlikely supporter

www.shareprophets.advfn.com/views/2193/hibu-backing-the-rebels-on-principle-if-not-with-my-head-more-reasons-to-despise-city-lawyers

[stud-muffin] 26/10/2013 08:49

I do so wish you guys well.

The whole thing stinks.

[freddie ferret] 25/10/2013 14:15

Thanks moocha.

[themoocha] 25/10/2013 09:08

HIBU SHAREHOLDERS GROUP

PRESS RELEASE

24/10/13 for Immediate Release

HERBERT SMITH FREEHILLS THREATEN HSG BOARD CANDIDATES


Herbert Smith Freehills, "magic circle" solicitors, acting for hibu plc and its present board of directors have written a 9 page letter to the 10 candidates for office as director of hibu plc supported by over 5% of the voting shares telling them, inter alia, that they should "not underestimate the adverse reaction which you will face" if there is not a "successful restructuring" of the insolvent hibu group.

They also complain that one of the candidates, a solicitor acting for a group of shareholders, cannot continue to give them independent legal advice nor can his firm do so either.

The insolvent hibu group will take "all legal and regulatory action necessary" say Herbert Smith Freehills.

Barry Dearing, the solicitor concerned, said "I find this letter to be most disturbing. I am not accustomed to threats from solicitors of the nature of that given by Herbert Smith Freehills particularly when they did not say who had instructed them to write the letter."

They have now clarified that it was hibu plc but have not specified who the creditors concerned are nor the nature of the adverse reaction.

Mr Dearing said "I do not know who the creditors are. Some say they are Vulture Funds so I have no idea whether I am to expect a knock on the door from some American Mafioso or an East End gang."

The letter spells out in great detail the risks which accompany being a director of an insolvent company and the necessity of there not being any conflict of interest.

Mr Dearing said: "This is no surprise to me but it does call into question the part played by Chairman Wigley who is both a shareholder and holder of hibu debt as far as public announcements go. The first business for the EGM is asking for an explanation of his holding of shares and debt and why the 2012 Annual Report is in conflict with previous announcements".

Shareholders have previously asked themselves which hat Chairman Wigley has been wearing in negotiations with creditors: his shareholders hat, his director's hat or his creditor's hat?

A spokesman for Hibu Shareholders Grouping Limited, which has coordinated the successful requests for a General Meeting, said: "This letter makes me think that they are running scared and are afraid that shareholders might actually have a say in events when the directors and creditors want to keep them out of it. I hope that other shareholders learn about the EGM and vote for shareholder information."


ABOUT HIBU SHAREHOLDERS GROUPING LTD: a formation of shareholders in hibu plc mainly private investors who have requested that a general meeting of hibu plc be called by the directors to address shareholders concerns. For further information see: www.hibu-shareholders-group.com
Or e-mail [e-mail] or call 07424 716299.

[freddie ferret] 24/10/2013 17:36

We do not yet have a date for the EGM, we could have a bit of a wait now, based on my imperfect reading of the tea leaves. Keep watching daily for new RNSs.

[sir rational] 23/10/2013 20:08

Yes, Saj! lol