Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Shareholders already wont get a cent if they let the current BOD and lender's carry on this sham. That's why things must change. There will be no positive outlook for the lenders either as customers will not want to touch a company in admin with a deserved reputation for screwing people out of money. If this happens I predict no amount of PR will save HIBU. Google 'HIBU' and any negative adjective, then imagine this bad press times 1000. The lenders are truly shortsighted and need to speak with their image consultant. At the very least they will need to rebrand again if this debacle carries on.
Quite simply a better job than the old directors. For the good of HIBU there needs to be a change in spirit, this bad spirit runs from the top, all the way to the customers. I genuinely like the new HIBU advertising campaign, but it's all wasted if the customers just associate HIBU with bad things that have been created by poor leadership of the existing directors. This will not go away till there's regime change. Look at Myspace. A few poor decisions from Rupert Murdoch and the public perception of the company changes completely. It was bigger than Facebook, but went from billions to a few million. I can see the same happening with HIBU unless there is a change of spirit in the company that starts from the top. When you think of Google you think (well used to till Microsoft started highlighting privacy issues) of good things, free flowing offices, free thinking, fun, free services, generosity etc. HIBU needs to create a similar lightness rather than the destructive atmosphere that now exists. Lenders take note this is a media industry, public perception makes or breaks you, you can't run it like a bank!
Part 2 continued: 6) Are open, honest and transparent in their communications with shareholders while accepting and discharging their legal responsibilities to ALL stakeholders. 7) Ensure that, if any irregularities or misconduct are found, the full weight of the legal system is engaged to pursue those responsible. 8) Work with the government and its advisors in keeping the Group as a global leader in the digital classified advertising marketplace. To avoid perceived conflicts of interest HSG will appoint new Directors so that HSG can remain as an operational entity to seek the protection of shareholders in the future. Hibu Group depends, for its future, upon all of its employees, customers, shareholders, suppliers and other creditors. Not one of these groups should be excluded from any considerations of the future of the Group to which the HSG candidates are so committed that they have invested a great deal of their own time and money in the hope that there is something left, after the depredations of the last couple of years, to salvage. HSG candidates are not intending to try and rubbish the efforts of the present board of directors since they each have been appointed. Their results speak for themselves. HSG candidates believe that IT IS IN THE BEST INTERESTS of shareholders as whole, employees, participants in the pension plan, customers, suppliers and creditors of all kinds for the HSG candidates to be appointed as directors of hibu PLC and they invite all other shareholders to vote for their appointment. Hibu Shareholders Grouping Limited. Incorporated in England and Wales no 8667752 Registered Office: Stanley House, Lowergate, Clitheroe BB7 1AD
Hibu Shareholders Grouping Limited (HSG) members have requested that a General Meeting of shareholders in hibu PLC be held and this is to be held on 4th December 2013 in Reading. This meeting is asked for so that many of the questions which have been in the minds of shareholders can be answered by the present board of directors. Shareholders have not been fully informed of what has been going on in relation to the affairs of hibu PLC or other Group companies. They are informed that there is no option but for a scheme of reconstruction to be completed which will cause hibu PLC to enter into administration as insolvent and similarly some other group companies but a new holding company will be formed and trading continue under the control of creditors of the Group. These proposals, which have not been fully explained, will not provide anything at all for existing shareholders in hibu PLC. It may be that there is now no option but to follow the route which the present directors have embarked upon after making massive write downs of value of intangible assets and failing to meet covenants with creditors. HSG, in ignorance of the true facts, has 10 members standing for office as director of hibu PLC at the General Meeting and the board of hibu PLC do not think they are sufficiently experienced to take up office as non-executive directors but, in case it appears to hibu PLC that it is likely that a material number of them will be appointed then it is expected that hibu PLC will be placed into administration. The HSG candidates have said that it is not their intention to delay, obstruct or interfere with the proposals which have already been made and they are perfectly well aware that if hibu PLC is insolvent they must act in the interests of all stakeholders, including all creditors and employees. The HSG candidates are not intending to delay or prevent the implementation of the Financial Restructuring but they are intending, within whatever is proposed for that, to ensure that they : 1) Investigate fully, and try to understand, the actions of the Board which have so catastrophically destroyed the company’s creditors’ and shareholders’ value. 2) Examine, and try to understand, the proposed Financial Restructuring and the processes undertaken by the Board to verify that all potential restructuring options were indeed considered and investigated thoroughly for the benefit of all stakeholders before the present proposals were adopted. 3) Protect the positions of the Groups employees and pension holders in any proposed actions in relation to restructuring. 4) Retain and appoint (as necessary) capable and experienced executive and management teams to move the Group forward and implement where practicable strategies which have been placed on hold by the current Board. 5) Consider, and potentially re-engage in discussions with the Co-com in an endeavour to secure, a long term funding strategy which does
You shouldn't doubt the damage of shafting your many shareholders. This is a good example cohesive mass action, one of the rare times financial institutions were brought down to earth by their customers: http://www.bbc.co.uk/blogs/danroan/2010/09/liverpool_fans_take_fight_onli.html However It's a given that Hibu shareholders do not have the same level of passion and fanaticism as LFC supporters and any reaction will not be as immediate or severe. It will be over months and years. If financial institutions shaft the shareholders, over time everyone will know what a treacherous institution HIBU has become. (Yell was once a well loved UK Brand). Could the bad press, loss of customer base and reputation be enough to ultimately bring down the 'evil' HIBU? HIBU has no other asset than it's customer base, if it alienates customers it becomes worthless. Myspace didn't particularly do anything wrong and failed. If HIBU stabs it's shareholders and many customers I am fascinated to see how this pans out.