Member Info for Lucando

Talking dung about death spirals

Yeah cossy we all do but to the derampers taloong **** abput death spirals and the like hopefully this makes them move on. Seems like we have a good few months coming to us

Knigel, I seem to remember you said you had sold out prior to suspension and so could not become a member of the hSG. I know you do retain a genuine interest in shareholders being recompensed and will just say that the discussions on the hSG site at the moment would really open your eyes. Unfortunately I am not a liberty to divulge any of that info on the public boards but you would definitely be impressed with the actions of this group if you could see, especially the 10 new directors.

If that is allowed to happen then I fear for the future of the financial industry in the UK. If this company can just transfer assets and jettison shareholders in this way then I am sure more companies will do the same. What controls are in place to prevent this? What legal right do they have to do this? What about the companies Act? These things don't seem to matter from what I can see.

http://t.capecodonline.com/apps/pbcs.dll/article?AID=/20020726/NEWS01/307269958&cid=sitesearch&template=tabletart Morgan claims that it was unnecessary for Polaroid to file for bankruptcy in the first place. Once in bankruptcy, he claims, the company undervalued assets by $1 billion to knock shareholders out of the picture. That sounds familiar!!!!

Why do you care??????

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

Can someone advise me what the revenue for hibu was last year?

I think recent posts have helped to separate those genuine holders from those who do not or have not held. To say that someone should not join the hSG paints a fairly obvious picture of what side of the fence you are on. Could they be paid derampers or maybe just sad individuals who find fun in the misfortune of others?

Considering 700 other people have applied and successfully managed to join up with the group I would assume that the reason that you have not been accepted to join the group would be due to an error on your part.

from the evening standard Why Cable’s facing a hibu hullabaloo Business Secretary Vince Cable made headlines at the Lib-Dem party conference with his attack on the “nasty” Tories, but the City was also interested in his announcement about cracking down on “dodgy directors” by changing the law to make companies and boards “more accountable to shareholders and the public”. It came as Cable is under pressure himself from shareholders in Yellow Pages publisher hibu, who have been wiped out after the debt-laden company’s shares were suspended from the stock market in July. The aggrieved investors, who have formed the Hibu Shareholders Group, have accused the board of a “dereliction of duty” and asked Cable to investigate — although hibu has insisted its directors always acted in the best interests of the company, and there has been no suggestion of wrongdoing by the board at this stage. If Cable’s department is to investigate hibu, there is a potentially knotty problem as BIS has links to the company. Last October, UK Trade & Investment, part of BIS, appointed hibu to create Open to Export, billed as “a new online service to help UK-based small and medium-sized enterprises (SMEs) to trade internationally”. Some small-business owners who also happen to be out-of-pocket shareholders in hibu are less than impressed.

http://www.independent.co.uk/news/business/news/16m-settlement-for-cattles-stakes-7753809.html

They didn't act on behalf of all shareholders Piler, they acted on behalf of themselves (a group of about 60 shareholders) and achieved a settlement of 27p per share. This is what I am saying, the final collation to join the group happens on the 15th of August and those who are not in the group could miss out on the opportunity to be like the 60 shareholders of the cattles group. Time is running out if you haven't already joined!!

Why would you say that lemmink if you are not a member of the group and have no insight as to what is happening? Without releasing details on a public forum I would say that at present a lot is happening. Various avenues are being followed and the group are extremely optimistic about our chances of success. Should you be looking to see a comparative example I would refer you to the Cattles shareholders action group. In certain senses the case has its similarities with Hibu. In this case shareholders were offered 1p per share. Many accepted, however, the minority who were part of the shareholder group refused and took action ending up with 27p per share. In view of this example the benefits of joining the group are obvious.

Hi Laws, Now you say that I just had a look at the report that was released and see that it says: "1. Nature of report This document does not constitute an annual financial report, half year report, second interim report, preliminary announcement or interim management statement (as defined in the Listing or the Disclosure and Transparency Rules) in respect of the twelve month period to 31 March 2013 or any part of that period. The unaudited consolidated financial information contained herein does not constitute statutory financial statements within the meaning of section 434 of the Companies Act 2006" I also see that the report that was released was not audited. So basically the board have made the agreement with the Cocom without letting us, the owners, have access to an audited report!!!! How do we know the true financial position of the company then? Are we just expected to believe what the board say? That didn't really help me when I believed Mike Pocock about an announcement that was to be made at the Microsoft conference! That is shocking

It is proportional to the shares you own. Subscription fees are based on a per million holding and are used to fund the legal costs. The information and discussion available on the HSG is of far greater quality than that available on any of the bb's. It is also making real progress with various different things happening that I would not wish to divulge on this public board.

Nm

Or holding RNS'. By all appearances the insti's seem to be keeping their shares, although nothing is certain with this share

To anyone thinking of selling on Tuesday morning remember that if you hold no shares you will likely have no rights of recompense. I for one will be retaining my holding. I see the action group developing real impetus and believe this can be a proactive means to affecting the outcome in our favour. Whilst everyone's circumstances are different it is a necessity that we express our rights collectively, more so now than ever.

Did the company not voluntarily default on their loans? I find it surprising that they would do this resulting in the lenders gaining a dominant position in ongoing negotiations!