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glasgow sheep

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    THE OFFICIAL: "LET'S ALL LAUGH AT HEARTS"

    in Aberdeen Football Club

    Posted

    tick tock tick tock

    nicked fae mad

     

    RISK FACTORS

     

    Please note that the acquisition of shares in the capital of the Company involves a significant degree of risk. You should carefully consider whether an investment in the Company is suitable for you in the light of your personal circumstances and the financial resources available to you. Specifically, in the context of an equity investment in a Scottish football club in the current economic climate and last reported net debt of £24 million, you should not expect any income from or return on your investment and should not acquire shares in the Company unless you are capable of evaluating the risks and merits of such investment and have sufficient resources to bear the loss of all of the money invested by you. The Directors are committed to strategies that are intended to deliver long-term value but there is no guarantee that those strategies will succeed. You should take personal advice from a professional adviser experienced in buying minority stakes in unlisted companies before taking any action in relation to this offer, including advice on the Sale Price of 11 pence per share.

     

     

    In particular, the following specific risk factors should be fully considered prior to a decision to acquire shares in the Company being made:

     

     

    • The Company's balance sheet is negative and the Company would be insolvent (on the basis of being unable to pay its debts as they fall due) without the ongoing support of UBIG or alternative funding. Whilst the Company has short-term comfort from UBIG that it will not call up its debt, there is no guarantee that UBIG will not do so in the future, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

     

     

    • The value of the Company's shares will , amongst other things, be largely dependent upon the success of the trading activities undertaken which are likely to be influenced to a strong degree by the success of the Heart of Midlothian football team in the various competitions in which it participates. Changes in economic conditions can substantially and adversely affect the Company's prospects.

     

     

    • There is no market or dealing arrangement, nor in the forseeable future is there intended to be a market or dealing arrangement, for the Company's shares and, accordingly, it will be difficult for an investor to sell such shares (particularly where they constitute a minority holding) or to obtain reliable information about their value. Investors may realise less than their original investment and have a significant risk of losing all of their investment.

     

     

    • It may be difficult or impossible to dispose of shares in the Company and there is no guarantee that there will be any exit route.

     

     

    • Events in the past, or experience derived from these, or indeed present facts, beliefs or circumstances, or assumptions derived from any of these, do not predetermine the future.

     

     

    • The acquisition of shares in the capital of the Company will not be covered by the FSA Compensation Scheme or by any other compensation scheme.

     

     

    • Investors should note that the value of the Company's shares may go down as well as up and there is no certainty that they will get back the full or any amount which they invest.

     

     

    • The Company has no intention of declaring dividend distributions for the foreseeable future.

     

    • As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%.UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed.The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company's assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

     

     

    • Heart of Midlothian plc. are subject to a significant ongoing dispute with HM Revenue & Customs ("HMRC") which, if it ultimately goes against the Company, could have a dramatically negative effect on the Company. Specifically, HMRC has claimed unpaid tax liabilities of circa £1.75 million (excluding interest and penalties) in relation to the arrangements between the Company and Kaunas FC in relation to certain players who were loaned to the Company by Kaunas FC. The Directors are attempting to robustly defend those claims but the burden of proof is on the Company and the tax will be payable unless the Company is successful in challenging the claims. The claims will be heard by the relevant tax tribunal in November 2012.

     

     

    • Whilst UBIG has expressed a current intention to explore the possibility of allowing the club's supporters the opportunity to acquire over time a majority stake in the Company's share capital and has positioned the current offer as the first step towards that possibility, there is no commitment on the part of UBIG to continue with this current intention and the Company's debt levels are such that further debt capitalisations may be required in the future, which would have the effect of significantly diluting the other shareholders' interests in the Company. For so long as UBIG owns or controls more than 75% of the Company's share capital, it will be able to pass the resolutions required to effect any such debt capitalisation.

     

     

    • The Company is largely owned and absolutely controlled by UBIG and will continue to be controlled by UBIG for so long as it owns more than 50% of the Company's share capital. Unlike directors, who owe certain duties to the shareholders of the Company, UBIG does not and can largely act out of self-interest at any time, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

     

    • Assuming the Club is successful in relation to the HMRC case referred to above, the offer, if fully subscribed, should provide the Club with sufficient working capital to achieve its goals for the 2012/2013 season without requiring additional funding. However, if the HMRC case goes against the Club and/or the offer is not fully subscribed, the Club may have insufficient working capital to achieve its goals for the 2012/2013 season and may have to seek additional sources of funding.

     

     

    • Certain statements within this document constitute forward looking statements. Such statements involve risks and other factors which may cause the actual results, achievements or performance of the Company to be materially different from that expressed in the forward looking statements. There can be no assurance that the results and events contemplated b y the forward looking statements in this document will, in fact, occur. The Company will not undertake any obligation to release publicly any revisions to these forward looking statements to reflect events, circumstances or unanticipated events occurring after the date of this document, except as required by law or regulatory authority.

     

     

    The risks noted above do not necessarily comprise all of the risks potentially faced by the Company and are not intended to be exhaustive or presented in any assumed order of priority.

     

     

    Although the Directors will seek to minimise the impact of the Risk Factors, investment in the Company should only be made by investors able to sustain a total loss of their investment. Potential investors are strongly recommended to consult an investment adviser authorised under the Financial Services and Markets Act 2000 who specialises in investments of this nature before making any decision to invest.

    League Cup QF v Helen Mirrren

    in Aberdeen Football Club

    Posted

    Signing Session | The AFC Club shop at Pittodrie is stocking the new Dons book 'Glory in Gothenburg' by Richard Gordon and please note Richard will be in the Pittodrie shop on Tuesday night ahead of the League Cup tie against St Mirren for a signing session. He will be there from 6pm-7pm and in attendance with him will be Gothenburg legends Doug Rougvie and Neil Simpson.

    League Cup QF v Helen Mirrren

    in Aberdeen Football Club

    Posted

    Never even heard of Leith Athletic

     

    Tut tut

    Have reformed recently:

    http://en.wikipedia.org/wiki/Leith_Athletic_F.C.

     

    2nd Div Champs 1906 (failed election to 1st Div)

    2nd Div Champs 1910 (failed election to 1st Div)

    3rd Div Champs 1926 (failed election to 1st Div)

    2nd Div Champs 1930 (promoted)

     

    The C Divisions were made up largely of reserve teams and Leith campaigned for the non-reserve teams to be included in the Second Division. They were not successful and were expelled in August 1953 when they refused to play any more fixtures in Division C.[1] It was too late for the club to join another competition and the club went out of business in 1955. In a supreme irony, the two C Divisions were abandoned that summer and, just as Leith had wanted, the non-reserve sides were admitted to the Second Division.

    League Cup QF v Helen Mirrren

    in Aberdeen Football Club

    Posted

    Aberdeen have reached the QF stage of the League Cup 32 times, winning through 21 times and getting knocked out 11 times. 

    Our last QF was in 2010 and saw us beat Falkirk 2-1 in front of less than 7000 fans at Pittodrie thanks to a last minute winner from Hartley.

    The full record includes two legged QFs, replays and second replays and reads:

    Played 48

    Won 28

    Drawn 5

    Lost 15

     

     

     

    26 Oct 2010      Aberdeen    2    -    1    Falkirk    League Cup QF    6,710

    31 Oct 2007      Aberdeen    4    -    1    Inverness CT    League Cup QF    7,270

    08 Nov 2005      Motherwell    1    -    0    Aberdeen    League Cup QF    3,989

    02 Dec 2003      Aberdeen    2    -    3    Livingston    League Cup QF    6,090

    12 Nov 2002      Aberdeen    0    -    1    Heart of Midlothian    League Cup QF    7,576

    01 Dec 1999      Aberdeen    1    -    0    Rangers    League Cup QF    12,108

    10 Sep 1997      Stirling Albion    0    -    2    Aberdeen    League Cup QF    3,800

    17 Sep 1996      Dundee    2    -    1    Aberdeen    League Cup QF    8,760

    20 Sep 1995      Motherwell    1    -    2    Aberdeen    League Cup QF    9,137

    21 Sep 1994      Falkirk    1    -    4    Aberdeen    League Cup QF    9,450

    01 Sep 1993      Rangers    2    -    1    Aberdeen    League Cup QF    44,928

    26 Aug 1992      Falkirk    1    -    4    Aberdeen    League Cup QF    8,022

    05 Sep 1990    Aberdeen    3    -    0    Heart of Midlothian    League Cup QF    15,500

    30 Aug 1989      Aberdeen    3    -    1    St. Mirren    League Cup QF    11,500

    31 Aug 1988      Hibernian    1    -    2    Aberdeen    League Cup QF    13,500

    01 Sep 1987      Aberdeen    1    -    0    Celtic    League Cup QF    24,000

    03 Sep 1986      Aberdeen    1    -    1    Celtic    League Cup QF    23,50

    04 Sep 1985      Aberdeen    1    -    0    Heart of Midlothian    League Cup QF    13,10

    06 Oct 1982      Aberdeen    0    -    1    Dundee United    League Cup QF 2L    11,700

    22 Sep 1982      Dundee United    3    -    1    Aberdeen    League Cup QF 1L    14,000

    23 Sep 1981      Berwick Rangers    0    -    3    Aberdeen    League Cup QF 2L    1,200

    02 Sep 1981      Aberdeen    5    -    0    Berwick Rangers    League Cup QF 1L    6,500

    29 Oct 1980      Aberdeen    0    -    1    Dundee    League Cup QF 2L    14,060

    08 Oct 1980      Dundee    0    -    0    Aberdeen    League Cup QF 1L    10,500

    24 Nov 1979      Celtic    0    -    1    Aberdeen    League Cup QF 2L    29,000

    31 Oct 1979      Aberdeen    3    -    2    Celtic    League Cup QF 1L    24,000

    15 Nov 1978      Aberdeen    3    -    1    Ayr United    League Cup QF 2L    13,000

    08 Nov 1978      Ayr United    3    -    3    Aberdeen    League Cup QF 1L    6,300

    18 Oct 1976      Aberdeen    2    -    0    Stirling Albion    League Cup QF REP    4,027

    06 Oct 1976      Stirling Albion    1    -    0    Aberdeen    League Cup QF 2L    3,700

    22 Sep 1976      Aberdeen    1    -    0    Stirling Albion    League Cup QF 1L    7,185

    01 Nov 1972      East Fife    1    -    4    Aberdeen    League Cup QF 2L    4,492

    11 Oct 1972      Aberdeen    3    -    0    East Fife    League Cup QF 1L    13,605

    24 Sep 1969      Celtic    2    -    1    Aberdeen    League Cup QF 2L    37,500

    10 Sep 1969      Aberdeen    0    -    0    Celtic    League Cup QF 1L    33,000

    21 Sep 1966      Aberdeen    3    -    0    Morton    League Cup QF 2L    19,000

    14 Sep 1966      Morton    3    -    1    Aberdeen    League Cup QF 1L    4,750

    14 Sep 1957      Clyde    4    -    2    Aberdeen    League Cup QF 2L    15,000

    11 Sep 1957      Aberdeen    1    -    2    Clyde    League Cup QF 1L    18,000

    17 Sep 1955      Heart of Midlothian    2    -    4    Aberdeen    League Cup QF 2L    35,000

    14 Sep 1955      Aberdeen    5    -    3    Heart of Midlothian    League Cup QF 1L    30,000

    03 Oct 1950      Aberdeen    1    -    5    Hibernian    League Cup QF RE2    50,000

    02 Oct 1950      Aberdeen    1    -    1    Hibernian    League Cup QF REP    52,000

    20 Sep 1950      Hibernian    4    -    1    Aberdeen    League Cup QF 2L    35,000

    16 Sep 1950      Aberdeen    4    -    1    Hibernian    League Cup QF 1L    42,000

    27 Sep 1947      Aberdeen    8    -    2    Leith Athletic    League Cup QF    17,000

    05 Mar 1947      Aberdeen    3    -    2    Dundee    League Cup QF 2L    18,500

    01 Mar 1947      Dundee    0    -    1    Aberdeen    League Cup QF 1L    28,300

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