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Piler - it is in administration. The BoD are not in control any longer - the administrators are. They have some clear responsibilities but none of them include holding an EGM. They wouldn't be able to justify the cost for something that would serve no benefit to the creditors who's interests they are primarily concerned with. You see the thing you have all failed to grasp here is that when a company is insolvent which this one clearly is there are few, if any, rights left for shareholders.
...and why should they wish to do so if they've nothing to hide?
...did anyone catch the banner at the top of this board advertising the services of Yell earlier today? BP - my turn with a question: by what right does the BOD even adjourn let alone cancel the EGM (which I gather technically no longer means anything - seems they're all GMs)?
I hadn't read the RNS when I last posted. The company you own shares in is in administration and the administrators are going to sell the assets with any value to a SPV owned by the lenders. There will be no EGM .....ever ......but there will be a creditors meeting and ultimately there will be a liquidator appointed who will have to investigate the actions of the BoD. That is your best bet for getting any answers. Would still love to know what you thought you might achieve though.
I should imagine public message boards for hibu will be brought down after the cancellation so time is ticking for those who want to join the HSG group and have access to a more constructive private chat environment. Tick tock.. time is running out. Hope to see you on the other side! Email hibu shareholders@gmail.com now!
Hammo with 11 posts criticising a newbie!! Anyway - it seems to be getting a little tetchy on here. Be under no doubt these HSG directors will never get appointed. I asked a reasonable question about what they expected to achieve if appointed and the answers amounted to "ask some questions". Well that's going to make a BIG difference to the outcome isn't it. Come on. With all the illiterate venting of spleens on here this afternoon there must be someone who can have a better stab at an answer or even explain why shareholders should receive any recovery from their investment in this massively insolvent company? As a starter for ten the business is worth about £500m and has debts of £2.3bn so shares are worth how much? Tick tock....
So much progress has been made to date, the 'adjourned' EGM was the first deliverable as was the discussions in parliament this week. Being a shareholder may not now be enough now that the group may be forced down a creditor route so please make sure you join before the door shuts on Friday. For further information see: www.hibu-shareholders-group.com Or e-mail hibu shareholders@gmail.com
Nodeal, if you are a shareholder of YELL then why are you doing nothing about this theft of your money? I'm certainly not bright enough to be part of the "greedy 10" as you call them but I do have faith in them and their actions. You have to understand nodeal that people have lost their pensions/ homes etc and all because of three/four directors who are quietly lining their already bulging pockets with OUR money. They do not care about us shareholders as long as they get their millions and move onto the next big job. I wouldn't trust any of them to run my small business not alone one the size of YELL. Get onside nodeal or move on and stop reading this forum
Meant "Their response...", of course - PC is playing up!
"HSG directors should have spent more time and focus on the FCA complaint route" Sorry but you are talking ****** - if the FCA were currently investigating hibu we (and you, unless you're with them) wouldn't know about it until the investigation had finished! There response to my concerns via my MP was quite enlightening.
Hi all - not a shareholder. Though I and my CEO are concerned at the boards indifference to current shareholders of Hibu. Outrageous that the board are in bed with the bondholders and spending millions on daily press and billboard ads, when they should give some of the new shares that are likely to be issued to existing shareholders. You may not remember, but even shareholders of Telewest and Marconi, some years ago now, received new shares when their companies were restructured. As I mentioned, any Hibu shareholders, who are not attending the 4th Dec meeting, please private message me, in order that my CEO may borrow your seat. Thank you in advance, Cheryl
hole not whole....... but is whole hole for them
Shareholders be aware of clowns and thugs who have registered only to aside the current Board of Donkeys. The Board has just fired their last bullet in panic but shareholders artillery will open fire from now. As a result of today's RNS I am not losing more than what I have already lost then why panic. The BoD has just dug a whole for themselves.
Yes you arrogant bully ,Im a non entity in the eyes of you and your hsg inner circle that's how you lot have treated all us other mere hibu shareholders. Who are you ? one of the greedy ten I reckon ? Or just a forest gump ?The arrogance of you lot is only matched by your ineptness.
Here here - and if you wish to remove the current directors, you have to propose replacement directors! Nodeal obviously doesn't get it - and even if Richard Branson was proposed as a new director he would be moaning that he was in it for the money/attention etc. What does he suggest the shareholders do? Not try to arrange an AGM to ask valid questions? Not try to get new directors on the board? Just say "I give up"? Shame on him.
Yet another non entity joining in this forum. Who are you and have you ever held shares in this company? I am still confident in Chris and Barry. We just have to sit tight. The BOD are running scared and, in my honest opinion will end up where they belong day - INSIDE with the other common thieves and rapists!
You need to read the RNS just out this afternoon. The BoD have decided to adjorn the meeting to avoid the shareholders asking valid questions on how lenders ended up with the company (and still kept £ 1 billion debt on the books for repayments) and shareholders ended up with zlitch!
Hi all, My CEO is keen to go to the meeting on the 4th Dec. Would it be possible to borrow someone's seat for the day, who is not attending. My CEO is considering asking some embarrassing questions to Mike Pocock and the board. So if there is any shareholder not planning on going this would be a big help. Is it possible to send a private message? Thank you, Cheryl
Thanks a lot HSG chairman Belcher. Really well played. You and your magnificent ten have really let down all hibu shareholders who joined your group and paid their contributions in good faith. And all because of your personal greed in trying to sort yourself and the inner ten out with a juicy hibu directors salary. If you'd played straight and not had this underhand endgame as your real target we might have had a chance . HSG directors should have spent more time and focus on the FCA complaint route & legal matters rather than just telling members to write to the DTI as individuals. Also you used your members financial contributions which were donated for a LEGAL FIGHTING FUND for their correct purpose. Ive no doubt you're claim that now surprise surprise this is your plan B but unfortunately only a few fools or those ten with a vested interest, will believe that your aim will be anything other than fighting for the ten with those funds. Cattles 26 comes to mind You've let the mass of hibu shareholders down as much as Wigley and Pococock ever did. What an achivement you have made for us shareholders.
Perhaps you would like to comment on the disgusting decision of the BoD to adjorn the meeting due next month (see RNS just issued).. so all your ranting about 10 decent people who have lost EVERYTHING by holding shares in the "company" trying to do the decent thing and become new directors to ascertain all the bad apples under the table and to try to resolve some return out of this sorry mess for shareholders (THE OWNERS) appears to be pointless because the BoD are running scared - and are demanding not to face the shareholders by any means possible. I mean, how can you appoint administrators but nothing changes for employees, customers etc etc. It is quite clearly an under handed tactic to avoid the AGM taking place !!!!!!!!!
...so much for the meeting.
You 10 love to rush out on to the public boards to put down any debate or critcism of you 10. You have plenty to hide don`t you. I wonder what it is???????? You ban any form of free speech on your hsg board & are doing the same on public boards.
Hello chocbrownpants from advfn! I wondered where you went to...
Great, we have some more jokers and clowns on this board now...... specially joined to support the BoD. Get a life guys, Bob and co are now thing of past.
"I am not lining others pockets" Uh????????????????!!!!!!!!!!!!!!!!!!! I've got news for you...