Share Offer breaks £1 million barrier

. Over 4,000 applicants raise just over £1,050,000 for club through share issue
. Extra ticket sales for St Mirren, Celtic, Aberdeen raise additional £161,000
. £2 million deficit more than halved
. The club will be seeking solutions for the remaining gap of nearly £800,000 before end of season
. Ticket sales now key to survival as fans asked to back Half Season Ticket campaign, sell-out League Cup semi-final allocation and support last 10 remaining home games

Hearts today praised all supporters who have helped raise over £1.05 million through the club's share offer in just less than eight weeks.

The share offer closed at 5pm yesterday (Wednesday 19th December) with supporters instrumental in securing the immediate survival of the club following the threat of liquidation launched by HMRC in early November. Over £1.05 million was raised through share sales to mainly general Hearts supporters and as a result of a wide range of associated fundraising activity. This figure may rise as final applications are processed in the next few days and, due to supporter requests, the club will also accept completed applications and payment at the Hearts Ticket Centre until after the game against Dundee United this Sunday (23rd December).

An additional £161,000 was also raised in unbudgeted ticket sales for the Tynecastle games against St Mirren, Celtic and Aberdeen. The club are now hopeful, given the closure of the share issue, that supporters will continue to help the club survive by buying match tickets for this Sunday's game against Dundee United (KO 4.30pm) and the remaining league games at Tynecastle this season.

The club is still in a perilous position with a near £800,000 shortfall between now and the end of the season. However if supporters rally at games at Tynecastle in the numbers that the club is clearly capable of generating then this in itself would make up almost the entire shortfall. Much of the rest could be generated through ticket sales for the Scottish Communities League Cup semi-final against Inverness.

Sergejus Fedotovas said: "We cannot thank all the 4,000 and more supporters who bought shares enough together with all those who bought tickets and raised funds for the club. They have given the club a lifeline in its darkest hours. There is still significant work to be done but this time there is a tangible focus that simply involves fans getting back to what they do best and that is supporting the team at Tynecastle in great numbers.

"We will continue to raise funds through our donation telephone line and online through the club website as well as encouraging more fundraising events. However the best way that we can all push through this difficult situation is by supporting the team and buying half season tickets and match tickets.

"Together we can emerge a leaner, stronger football club and I expect that the supporters will be the ultimate beneficiaries as we progress towards making Hearts a club that is one of the most progressive and supporter-centric in the country.

"Once again I would reiterate that the support has been magnificent and those that have invested can be proud of what they have done for Heart of Midlothian Football Club. If I could shake every one of their hands I would.

"I would also like to reserve special praise to a former player, manager and club legend that stepped forward when we most needed people to support us. John Robertson epitomises everything that is good about this club and its supporters. He was resolute and had the courage to ask the serious questions and make a positive contribution. He is symbolic of what is right about this club and in our eyes he mirrors the qualities shown by everyone that has invested to get the club to this stage.

"We are now half way there and our work must continue. With your support and only with your support will this club survive and thrive.

"With this in mind we have progressed discussions with Supporters Direct, the official recognised government backed organisation, in order to establish how best Hearts supporters could take their club forward. We are now working on the most suitable model that will give the club the best long term chance of development under true supporter control.

"We expect to announce further details of this in the early part of 2013. Long live the Hearts."

Hearts World