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When people get walked all over they are entitled to scream, shout, call out the lynch mob, hoist the rope... whatever you want to call it... It's not a question of taking it on the chin and going silently into the night... so to all those who say don't take action because you were warned ... nonsense.. there was no clear warming "little value" was constantly waved in front of investors... leading to the expectation of some hope. Plus everything the board did was voluntary and not forced. The board voluntarily withheld payments to creditors despite have liquid cash flow to pay interests or service debt. Let the naysayers continue to gloat at the glee of seeing others affected and acting like school masters telling all how they warned everyone and etc etc.. Those affected ought to act in their own interests and that is taking action
@A320driver, The company was liquid and able to pay the interest it owed. It voluntarily withheld and put itself in a position of default whilst it entered negotiations. It then decided to cave in after realising it's stupid blunder and declare shareholders "no value". Its not a question of revenge. It's a question of standing up for shareholder rights. A fight that would benefit every shareholder from the sovereign, institutions, down to the small private investor. Plus, anyone who wants to get back at Soros for the damaged he caused to the Bank of ENGLAND's creditability which still reverberates today.
Those who argue against legal action - probably in the pocket of co-com, argue from the point of protecting employees. This is a false morality. The employees jobs are at risk not from sharholders but co-com itself. Who will have to be forced to reveal the Axe on employees the way they have stirred this company to self destruction in their own woeful interests. The truth is that employees have been placed at risk from the board and co-com and not from shareholders seeking to assert their rights through legal means. Management is to blame for the way that shareholders are having to fight back. AND management are the ones who will enforce an environment of job losses in Hibu.
Disgruntled Hibu shareholders take action 2013-07-26 Hibu shareholders warn of a fight back after shares suspension July 26, 2013, London, UK. Press Dispensary. Following disintegration of the price of shares in Hibu plc, a significant group of shareholders has formed the Hibu Shareholders Group (HSG). Subsequent to yesterday's announcement that trading in Hibu shares had been suspended, HSG has this afternoon issued an open letter warning of "very grave concerns over the way the business has been run" and serving notice of likely future legal action against the Hibu board of directors. "we give the board fair warning that it now has a fight on its hands." - Craig Beevers Hibu plc yesterday suspended share trading from 7.30am as it headed towards a restructuring that will see its lenders take control of the company. Hibu chairman, Bob Wigley, warned in a letter published yesterday on the Hibu website, that "On completion of the restructuring the shares of hibu plc will cease to be listed on the Official List and cease to trade on the London Stock Exchange". Today's open letter from HSG, issued by investment banker Craig Beevers, spokesman for the Hibu Shareholders Group, states: "We have very grave concerns over the way the business has been run and will be asking the board to demonstrate that they have acted in our best interests throughout this process" and warns that "we have been amassing evidence to support our concern that the Board of Directors have misled investors, taken actions that engineered the event of default which caused creditors to enforce their security and delayed launching new products to suppress the share price". "we are currently receiving 70 emails an hour from disgruntled shareholders" - Craig Beevers Craig Beevers said: "If handled more competently, we think that the death of the current Hibu shares was entirely avoidable. The board of directors will need to prove to us that it acted in the interests of shareholders and not just the self-interest of the directors, which is how it seems to us. This situation is completely unacceptable and we give the board fair warning that it now has a fight on its hands." He added: "The Hibu Shareholders Group represents holders of more than 400 million shares and is growing rapidly - we are currently receiving 70 emails an hour from disgruntled shareholders. We are sure there will be many more shareholders who still wish to join us and invite them to write to us at hibushareholders@gmail.com . We are also in the process of contacting institutional shareholder to coordinate actions between us. All shareholders will be verified by our solicitors, who will offer anonymity for individual shareholders." The full text of the shareholders' letter follows: Dear Sirs, I am writing on behalf of the Hibu Shareholders Group (HSG). We are a group of private investors who all hold shar
What has the establishment got to do with this company? Zilch !! This is co-com headed by Soros - the man who broke the Bank of ENGLAND. Hardly an establishment figure. The reverse. More like a seditionist. This man has always acted against the establishment.
It's not too late for this company to turn around at the final second to mid night and for once do the right honourable thing by its long supporting suffering shareholders. But, I guess that would be asking to much. The short sightedness and myopic co-com & board are doing everything in their power to destroy this company when they should be doing everything in their power to salvage it. Of course, in their wealth of wisdom and experience they believe they are doing the opposite - they never took on board the moral of the story of the emperor has no clothes.
Nobody will walk in and pay £1 for this cr*p post administration. This is a zombie company and today it decided to join the living dead.
Up Yours Co-Com.... go-scum
Shareholders have nothing to lose but to rock the boat and cause mayhem for the hibu board. Had the hibu board and the likes of soros seen fit to pay off shareholders a 1p a share then shareholders could held on to some pittance... instead the bod and soros through down the gauntlet removed their gloves and slapped all shareholders in the face. This is not an act of peace. It's an act of belligerence of the worse kind. Daylight robbery no less by a minority on a majority.
It seems like a minority of lenders has forced out the majority of lenders and all shareholders? How can this be? It's theft. We have all been mugged in broad daylight as surely as if on the street corners by thugs.
I would think that would be pending legal advice. Only 39.etc % agreed to this not the 75% required. Anyway.. more info can be discovered here: http://www.telegraph.co.uk/finance/newsbysector/supportservices/10196217/Hibu-investors-may-sue-board-over-debt-deal.html
...what a nightmare this company ... holding this stock was a nightmare... and in many ways that nightmare is over.... whatever shareholders can do to get breadcrumbs from the greedy table of the likes of Soros, Blackstones, etc., then go for it !!!!! You have nothing to lose !!!!! as they want you to lose it all already !!!! The board is trash.... and needs chucking out with the garbage .... employees -good or bad- are going down with the ship... first they pick on us shareholders... then they will round up on the employees.. finally after many months of bailing out the water with their holed buckets they will sink themselves... there is no such thing as bad companies only bad managers..... the vultures are hovering about and have started by picking off shareholders but these vultures will eventually will themselves out. Worse than worms .. really....
I have lost a great deal of money but what I can say to the board et al is bullsh*t! You are suppose to be an online media company.... how can you progress by stabbing shareholders in the back? You guys are clueless about the web. Look at Yahoo 3 years ago and look at Yahoo today. Look at Bebo, MySpace and countless other online technology companies. Once extremely popular ridding on a crest of a wave from the online surfing community. Do you honestly believe these companies got to the dizzy peaks by stabbing their backers in the back? AND still they faded... Online technology firms are nothing but a flash in the pan. The web is an extremely competitve place. Hosting companies offer more than what hibu currently at a mere fraction of the price. Hibu is finished. Today, it decided to kill itself before it even got started because it simply destroyed its good will. It listened to a bunch of old has been faddy daddies, like Soros - who can't even program in basic html. Forget hibu... move on.. it's dead.
http://www.smithsonianmag.com/video/What-Did-the-Rebel-Yell-Sound-Like.html Give 'em hell boys........ To hell with hibu.......
"Where my horse treads once the grass will never grow!" Some say this was not Attila but the Turk. Well, whatever, hibu inevitably will carry out barbarism - it now seems. At least with the Turks & Huns you knew where you stood, but hibu was all cloak and daggers. Keeping PI hanging on with "little value" so their bum chums top investors could get out at 0.33 of a penny. There are lessons to be learned from this and that is if it looks like cr*p, smells like cr*p, it is cr*p. A BIG BOOOOOOO for HIBU.... and a BIG Rebel Yell for the rest of us...
It's political interference in a successful British Company and SP manipulation. It will all come out in the wash when no fraud and only political and mandarin incompetence is revealed. The wealth producers are business enterprise and not the political mandarin chattering classes. Simples.
If this hibu et al commits an act of high piracy on existing shareholders within a year the company will be finished and all it's employees, directors, and piratical co-conspirators will be licking their deep wounds. I predict this will occur within a year of this extreme piratical act on existing shareholders. hibu would have lost it's goodwill from it's client base. Online media is like a flash in the pan. What's popular today isn't tomorrow. This hibu would not even jump the first huddle. Enjoy your short termism... it will be extremely short !!!! & good luck !!! You'll need it going forwards.
Come on.... stop believing politicians with axes to grind and political spin doctoring... like I said... if I go to a bakery and spend £2 on doughnuts worth £0.50p... then I'm an idiot to pay that price. I was not conned nor deceived. I was given a price and didn't question it at the time and just said OK. Now several months down the road I'm calling in fraud. Bullsh**t. Stop blaming anyone but yourselves !!! Clean up your own bleeding departments and mandarins in office. Business was done and business dealt at the high offer price. Just like purchasing stock.. you bought too high.. tough... do better research.... due diligence ..what ever you call it... I hope this blows up on politicians faces and they get egg on their deceptive faces... we are not going to do their dirty work.. the markets are too clever for that.. we will take them to the cleaners for trying to manipulate the market.. end of story...
What's this stock being manipulated for?? It got massive turnover.... and in my view it's a cash cow... look just because you go to the market and the stall holder charges you £5 for an avocado pear and your stupid enough to cough up..... well that's not bleeding fraud... that's bleeding you being an idiot to pay that price... buyer beware... is the bleeding law... no fraud was bleeding committed as far as I can see... this is just blatant manipulation.... simples... this company is bleeding rich a f**king eldorado in terms of cash generation.... ffs... get with it look at the fundamentals and stop being manipulated by the top of the pyramid....
This goes way beyond even hibu but its a factor caused by hibu's of this world. Look banks are just not lending. Even if you have an annual income of in excess of £100K banks will turn you down for a poxy £10k loan - chicken feed right? Not really, underwriters have set the lending criteria so high and rating agencies are paranoid beyond reason with setting the bar too high. This is all cause and effect for what has occurred over the past 5 years. Business can't expand or invest due to this credit crunch. Jobs are 200 for a penny as a result. This is because private investors are pulling up the draw bridge.... markets are not what they use to be... sad state of affairs really.. well, I'm off... pulling the plug on this system and just taking life easy nowadays... you lot might as well do the same.. just shut down and turn off.