Hearts to launch share offer

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Heart of Midlothian plc (Hearts) is to launch a share offer to Hearts supporters allowing fans of the Tynecastle side to increase their interest in the football club.
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UBIG, the Lithuanian conglomerate chaired by Vladimir Romanov and the majority shareholder in Hearts, has approved the offer by the 2012 William Hill Scottish Cup winners that could see the supporters of the club control over 10% of the total shares.

Priced at 11 pence each, if fully subscribed the share offer will raise up to £1.79 million, every pound of which (after costs) will be invested in the club. One of the key areas for the funding will be to meet the club's continued focus on developing the best young players to reach the highest levels in the game. Revenue raised will also go, as required, in meeting general working capital requirements.

The share offer is the first that provides supporters at Hearts with a chance to invest in the club since the takeover by UBIG in 2005. It is being viewed by the club Board as a potential opportunity to test the willingness of supporters to get more closely involved with the club by taking a first step towards possibly becoming eventual owners of Hearts.

Sergejus Fedotovas, Director, said: "This share offer provides supporters of Hearts and other interested investors with a real opportunity to increase their interest in the club while contributing directly to the investment in some of the best young footballing talent in the game.

"It is a very important moment in Hearts' history where supporters are invited to express their interest and secure the future of the club. Now Hearts needs its supporters more than ever and we count on this appeal being heard and supported.

"If this first share offer is successful we believe that future proposals could be considered that may eventually allow for Hearts supporters to take over the club entirely.

"Every pound raised by supporters, after costs, will be reinvested into the club and we expect that this will be a popular offer. There are a range of excellent benefits that will also provide attractions to supporters and we're pleased that we have a relationship with supporters that makes this share offer a truly viable option for the development of the club."

The Share Offer opens officially for applications to be submitted at 9am on Saturday 27th October 2012 and will close at 5pm on Wednesday 19th December 2012.

Dedicated Share Sale Hotline numbers have been set up on 0131-200 7270 and 0131-200 7215 to manage requests for information from 9am tomorrow morning.

Shareholders will benefit dependent on the amount of shares purchased with features such as free tickets to games, discounted season tickets, priority bookings, event discounts, signed merchandise and hospitality offers.

Hearts, which reported a profit for the last two years and saw debt reduce by a third in the last published accounts to 30 June 2011, currently has more than 4,000 ordinary shareholders. The club also has over 8,500 season ticket holders and attracted more than 100,000 fans onto the streets of Edinburgh on Sunday 20th May 2012 to celebrate the previous day's 5-1 William Hill Scottish Cup final win against city rivals Hibs.

Full details of the Share Offer and application forms are available from the club directly or at www.heartsfc.co.uk.

All Hearts supporters attending the Clydesdale Bank Premier League meeting with Ross County at Tynecastle on Saturday will receive a 2012 Share Offer brochure which will include all the details regarding the initiative.

Hearts World