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Knigel, it was a rhetorical question in response to clabs. I am well aware of the turnover from last year but would like to have heard this from clabs. A company that is in as dire straits as he portrays does not have the revenue that a company such as hibu has. This is even being achieved before any new products such as hibu life have been released. The picture is not as dire as is being portrayed i feel, and so do a lot of others
TBH I should really post much as I was not a shareholder on the day of suspension and I suspect most comments will be made via the HSG website. The company issued a recent RNS trading update which you can access above with showed revenue still falling but digital now at 39% o total revenue
What about the current directors, their large pay packets and bonuses?? I doubt any new director(s) proposed could do any worse and definitely are not in it for the money - they wish to help the owners (you know, the shareholders) recover some of the money instead of allowing the lenders to pick up the company and benefit from the recent digital growth themselves
Well hindsight's a wonderful thing Clabs, and I suppose I won't really take the utterances of directors at face value again, but precedent isn't made through apathy and I fail to see why anyone other than those who've personally profited from this fiasco wouldn't be rooting for us. It certainly isn't selfish to seek redress in the face of what's happened - I've really not lost a great deal in the scheme of things here but others have. And wasn't the bleating you refer to nothing more than an understandably excited response to the claims and statements made repeatedly by the BOD? Anyway, roll on the EGM.
Can someone advise me what the revenue for hibu was last year?
Have you actually seen the size of the new yellow pages? It is tiny and for very many catagories there are only a handfull of businesses listed - it is just no longer useful to people. I don't know about being used by millions of people but what counts is what revenue does it pull in? Just a fast declining database of long standing customers who are no longer prepared to pay for zero or little benefit. You talk about web sites but Yell have been pushing poor quality overpriced web sites for goodness knows how long. Piler It is nothing new that the big cheeses tend to do rather well whatever the outcome. Wake up and have a look around. Certainly putting all your investment faith in a CEO without keeping your eyes open would seem to be thoroughly foolhardy in my book. I don't know - the amount of bleeting that went on when the emarketplace was announced - what a brilliant idea etc etc. For an idea that clearly would never get off the ground.
Please ask the board to give us a list of lenders and the details of their holdings, the date and price when they bought them.
Well said - of course Yellow Pages is still used by millions and the company had no choice but to go down (too late imo) the online/digital route which is now a growing piece of the revenue cake. If having an online website is "nothing new - nothing tangiable" then twitter, facebook etc might be intangiable too.
Our own selfish needs when they were advised by the very outfit responsible for people well into their seventies and eighties having to tend bars and wait on tables in the US after their pensions were decimated? When those at the helm paid themselves individually more in bonuses in a single year than many nurses will make in a lifetime after bringing the company to this juncture? What about pension funds this side of the pond invested in hibu (mine isn't and I'm a fair few years off drawing it, I hasten to add)? Are you having a Turkish Clabs? Re. awful investment decisions, if the CEO of a publicly traded company said they had developed a pill that cures baldness or makes your pecker twice as big I would invest in a shot given the chance. And you know what - I would do NO additional research whatsoever. You know why? Because the CEO of this publicly traded company had claimed they had developed a pill that cures baldness or makes your pecker twice as big, and that is obviously enough because - being a publicly traded company - if this turns out to be BS I have redress. Don't I? I mean surely I do?
The problem is that shareholders still believe that hibu actually have a product that works and that people want to buy when in reality they don't. There is nothing new - nothing tangiable. All they have done is to launch half baked "new" products that they have continually thrust down the throats of existing customers. I don't know what the HSG think they can achieve by putting their own directors in place. To my mind, it is for their own selfish needs to try and claw back something from their awful investment decisions. They were quite happy to ramp this share to newcomers - buy buy buy.
Am I missing something.... Just got off train and right in front of me is a new huge billboard advertising Hibu.. my browser is asking me if I want a Hibu website.. I feel they are laughing at me whilst shafting me...
I have tried one more time, just emailed everything accross to you
As I understand it (though I have no formal legal training), malicious intent and inherent unfairness need to be proven / shown for a defamation charge to hold water. I reckon they might have their work cut out (not that we should chance it, of course)!
Well it is clear those not in the HSG can continue to say (within reason) what they like :-)
Apologies if this is a message from Barry @ HSG
So it's ok for you to attack the integrity and ability of the Proposed directors whilst it is clearly factual that the incumbent directors have failed its shareholders at every turn. Please continue to dig that hole, Australia must be close now.
That would be refering to the directors who have run HIBU into the ground and who want the shareholders to lose absolutely everything while they keep their jobs, being handsomely rewarded for their failure? Pretty pathetic when you have to get bullyboy lawyers to try and intimidate posters on a bulletin board.
Members of HSG are cautioned by me and Herbert Smith Freehills that no public statement should be made by members of HSG which may be considered to be defamatory of hibu plc, the directors of hibu plc or Herbert Smith Freehills. As any observation which an HSG member might choose to make in relation to any of those persons may be considered by them to be defamatory of them it may well be wise to confine any comment to matters of fact- preferably from an attributable public source- or otherwise refrain from commenting until there is an opportunity on 4th December 2013 to address the directors in person in General Meeting.
The HSG group had to pick 10 people to be prepared to become directors IF they succeed. Unless you are a member (I am not) of this group you can only guess what is happening behind the scene because all communications between the members and their advisors will be confidential. It was the company who promised to work hard for ALL stakeholders a while back and it is the company who let shareholders down - that's why the HSG is trying to kick them out! (btw deramp all you like - it's not as if you can effect the share price)
0 - 1 ( extra time ! ) :)))) to all the Hibu Shareholders , NOW is time to join HSG , to score more points :)) well Done HSG !
"It was a greedy move by the secret 10, did they seriously believe that they would get the better of some of the best paid brains in the business ." It wasn't and there's no secrecy (oh, and the notion that the highest paid are the most competent is ludicrous anyway)! "Their profiles just don`t stack up " Oh yes they do, and if they were / are shrouded in secrecy as you claim then how would you know anything about them? Simple question.
And we can see what side you are on lol!! The BOD have not given a Jot about shareholders, now hopefully Karma will prevail......happy days, fantastic work by the HSG ;)
What shareholder is going to vote against themselves. They have offered us nothing and they threat is nothing but spin.. we would stand a better chance of getting our money back if it was put into admin or a pre-pack. There is already a buyer lined up for the US business. One that they rejected without even putting it before the true owners of the company. Deeply offended by your username and hope admin remove you from this message board.
"Should a material number of the Proposed Directors be appointed at the General Meeting or the Company determine that this is likely to occur, it is expected that the Company will be placed into administration." At the behest of WHOM? This - I feel - is an important question, as I can't see why the lenders would want this and if we can establish that this would be the mindset of the current BOD then we surely have yet more strong evidence that they've not had shareholders' best interests at heart. Sorry to read about the extent of your losses by the way Buster. Chin up mate - the ball's well and truly rolling.
"Should a material number of the Proposed Directors be appointed at the General Meeting or the Company determine that this is likely to occur, it is expected that the Company will be placed into administration. Should this occur, the directors of the Company (including any appointed at the General Meeting) will cease to have any ability to control the Group or otherwise prevent implementation of the Financial Restructuring." Reassuring words for employees and creditors. There is another way. Vote for change, vote for HSG on 4th December.