Member Info for carvegyber

I remember you.... and some others way back from when this was still going. Blind panic and piler is still posting I see. Hope this can have closure soon. Sad but reality of corporate world. Learn and live.

Since when have the hibu shareholders become creditors? Is that part of the restructure?

Agree with BP. He has your best interst at heart because it will save you money to go chase something that has very little chance of success. If I roll a 10 sided dice for you so you have only 1 in 10 chance, do you want to bet? Save your money. Piler, the signs were clear. I said it here all along and if you only paid attention. The revenues were dwindling fast but the overheads remained constant. It was a matter of weeks before their free cashflow wasn't enough to even cover the interest not to mention the capital. That was why the BOD withheld payments to negotiate. When that happens, the company was in the lender's hands and it was only because there were so many lenders that caused the difficulties and delays in coordinating the inevitable......You really need to read up on all these things before you invest big money in companies. Only chance of success is to break up the business but it can't be done as a PLC. It needed to be taken private. That is another story and if I had time, I would explain what the lenders would do next....

So what if you have a case against the directors for deception and fraud. You sue him or them. Good luck. What case you have against Hibu? In any event, I seem to recall the phrase "little or no value for shareholders" popping up repeatedly before this happened? If the action group has therapeutic effect, by all means invest some time. If you have to put in money..... Caveat Emptor. Read up on English law and try to work out chances of success of the specific claims against the specific entities......it is all on balance of probabilities. GL

It seems that so many people on here still have no concept of how companies are structured and how businesses work. Let me put it in plain English. You are part owner of a company. It is probably worth £200m (I am guessing) but you owe £2.3b. Now rewind to when the business went cap in hand to lenders to borrow money (to grow, pay for directors pension or to flush it down toilet god knows), the condition would be that the lenders will get paid first before you lot in the worst case situation. Now the worst case has happened. So what has what the company is worth got anything to do with you anymore? Your directors fecked up. So learn from it and in future, becareful of a company that has too much debt. RBS, Northern Rock, HMV, Comet bla bla bla. Too easy for a director to borrow money to put it on red or black. It is up to you to be careful. Caveat Emptor.

ROTFLMAO Are you serious? Debt restructure and admin different in name only but same in substance. You really are late to the party. Hibu has already been through it. Don't start arguing with me about not the same bla bla bla. All just semantics.

admin is basically debt restructuring in another word. However, admin, as opposed to liquidation does not mean they have to shut up shop. It is business as usual. The administrator just takes charge of the company and decide what is best for the creditors. The lenders are highest ranking and there isn't enough assets to cover the 2b in a sale so the administrator will pretty much be doing what the lenders want. Sometimes admin does involve shutting up shop but it does no have to. The two are the same thing and lenders have the power to do this and BOD has none to stop them. Simple. Perhaps time to move on?

A day after the event, I feel really for the holders who were in on thursday. Equally, I feel like grabbing them by the shoulders and shaking them. For nearly a year now, I have been coming on here from time to time to explain to holders why Hibu is a sunk ship for PIs. I just wished people would listen and discuss rather than dismiss. That is the whole purpose of these boards. It is for exchange of views. Not accusations, of shorting, ramping, deramping, mutual back slapping, bla bla as it seems to be more usually used for. Shame.

Has just left my watchlist.....

Don't do it because there is no legal ground to sue on. Nothing illegal has happened and no contract has been broken.

Yup. Shares worthless. It will never be listed again and even if it does, you will not get any unless you buy it. Read the chairman's letter. Shareholders totally wiped out. Only way you get something now is to sue for it but why throw more money at it?

too true. That does interfere with good investing decisions. I learnt that hard way that you don't hang on words in the RNSs. They are just spins. We need to digest and predict what is the next move based on simple calculations of the numbers and what entities would logically behave. Also, don't bet on an outcome especially when it is based on generosity or morals......

you got it.

The chairman's letter summed it all up. They had no options. I have always said Hibu had no future as a plc with ftse BODs. You just need middle management to manage this for cash generation and keep costs down. That is NOT a plc BOD's remit.

No worries mate. It is a sad day for all investors and we have to move on and learn from this. I lost money here too but bailed at 6p and lost 50%. The whole problem with hibu is that the management (note I refer to the directors as the management because they are) had no choice. The ones who call the shot is always the lenders. They are faceless and heartless and it is all about the money. Therefore, you are betting that there is a good enough reason for lenders to give something to the shareholders. Fact is, for every reason you can find to give the shareholders something, I can equally find you another reason why not. At least there is still employment for so many people. Those people with mouths to feed will be very very thankful.

I am sorry but you are the short sighted one who preferred to correct other people's grammar rather than digest their message. Had you not suffered from blinkeronity, you would have seen there is no other way here. Gambling on faceless financial institution's generosity is just sheer naivety. Sorry to say but such is fact of life. Sooner you understand that, the better it is for you. Otherwise, you will just carry on making poor investment decisions.

Ah, That's why I don't see you posting here anymore. You are one of the smart ones that bailed.

Can't say for the others but I have been posting on this site off and on for the last year with the same message and analysis backed up by numbers. Riddler is the other poster who I remember that comes here from time to time. Is it after the event? Don't be blinkered otherwise you will start believing everything you want to believe..... If the holding has dwindled to F all, then you might as well just chance it but averaging down is not clever. If holding still significant, you really have a hard call. I took the hit here early last year. Took a hit from 12p to 6p after seeing the light. I still check the numbers to see if there is a chance to make it back here but I keep coming back with a no.

People like you should stick to teaching English rather than trading shares. As for thursday, pleasantly surprised? How high does it need to be for you to be pleasant? 1p? 2p? 6p? 12? The numbers just don't stack up. Why should the lenders be generous to you? Don't give me all that BS about wanting to make staff happy etc because they would be very very happy if they still have a job.

I can't believe PIs are still gambling and averaging down. If you were trading this, you would have been stopped out and that would be fine but investors averaging down is just crazy. The writing has been on the wall on this share for months since the D4E announcement and the rapidly dwindling revenue but stagnant overheads. If anyone ever read back to my posts on this, I had forecasted using the quarterlies that they would be close to negative cashflow by now. The withholding of interest payment to lenders was a big clue. What choice would the lenders have but to take it private. Break up and sell the unprofitable bits and just run the profitable bits and split the money. There is no other way because as a PLC with CEO, CFO, bla bla running this company, they will never do that. Lenders have to move and that means shareholders get jack. Fact is, the management of YOUR company screwed up and now it is worthless to you. It is worth something to the lenders and they HAVE the power to cash that in. What obligations do the lenders have to you? They owe you nothing! Wise up. It is dog eat dog.