johanhentze 14,449 Posted October 25, 2012 Share Posted October 25, 2012 http://local.stv.tv/edinburgh/196713-hearts-announce-share-issue-in-bid-to-raise-179m-from-fans/Vladimir Romanov is offering fans a chance to buy back some of his shares in Hearts in an attempt to raise £1.79m.The cash-strapped Edinburgh club, who have been unable to pay all their player and staff wages on time twice this season, is placing 10% of the shares owned by controlling company UBIG up for grabs.The club is owned and run by UBIG, a Lithuania-based holding company controlled by Romanov.In a statement on Thursday, director Sergejus Fedotovas said the share issue could raise up to £1.79m and ease Hearts’ financial worries.Fedotovas added that further sales of shares could follow, allowing fans to eventually take control of the club.Unveiling the scheme, Fedotovas said: "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 shares on offer will cost 11p each, with full details of the benefits on offer available in a brochure being distributed to fans at Saturday's SPL match against Ross County. Quote Link to post Share on other sites More sharing options...
OLE SUPER WILBERT 2,475 Posted October 25, 2012 Share Posted October 25, 2012 11p Quote Link to post Share on other sites More sharing options...
johanhentze 14,449 Posted October 25, 2012 Author Share Posted October 25, 2012 11p I know!! £1.79m for 10% when he valued the club at £50m last year (?) !! Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted October 25, 2012 Share Posted October 25, 2012 Last throw methinks............and what idiot is going to buy them........... Quote Link to post Share on other sites More sharing options...
johanhentze 14,449 Posted October 25, 2012 Author Share Posted October 25, 2012 Last throw methinks............and what idiot is going to buy them...........They are clearly desperate for cash!! Or maybe this is Romanovs way out, in which case, they are fucked! Quote Link to post Share on other sites More sharing options...
OLE SUPER WILBERT 2,475 Posted October 25, 2012 Share Posted October 25, 2012 I know!! £1.79m for 10% when he valued the club at £50m last year (?) !!Lunatic Quote Link to post Share on other sites More sharing options...
johanhentze 14,449 Posted October 25, 2012 Author Share Posted October 25, 2012 Lunatic He is that!!! Quote Link to post Share on other sites More sharing options...
WCPRANGERS1 2,997 Posted October 25, 2012 Share Posted October 25, 2012 Their fans will Definetly buy in to this I mean I'm positive spl fans said they would help their clubs through troubled times.......btw if hearts end up in trouble do you think salmond will leave it be! Quote Link to post Share on other sites More sharing options...
johanhentze 14,449 Posted October 25, 2012 Author Share Posted October 25, 2012 Their fans will Definetly buy in to this I mean I'm positive spl fans said they would help their clubs through troubled times.......btw if hearts end up in trouble do you think salmond will leave it be!Oh aye, they'll be queuing up for this. Salmond is probabably working on a rescue package as we speak!! Quote Link to post Share on other sites More sharing options...
WCPRANGERS1 2,997 Posted October 25, 2012 Share Posted October 25, 2012 Oh aye, they'll be queuing up for this. Salmond is probabably working on a rescue package as we speak!!He could always join them up with the rescue package he has in place for halls sausages......solves two of his biggest loves in one fell swoop Quote Link to post Share on other sites More sharing options...
Ricky_ 893 Posted October 25, 2012 Share Posted October 25, 2012 doesnt make any sense, if he vaules the club at 17m, it's insolvent to the tune of about 5m considering the clubs debts.ive a feeling romanov wants out - hes lookign to get whatever he can back from the fans via a share issue before putting them into administration. Quote Link to post Share on other sites More sharing options...
johanhentze 14,449 Posted October 25, 2012 Author Share Posted October 25, 2012 doesnt make any sense, if he vaules the club at 17m, it's insolvent to the tune of about 5m considering the clubs debts.ive a feeling romanov wants out - hes lookign to get whatever he can back from the fans via a share issue before putting them into administration.I think you are right.. the article even mentions the fact that they 'could' sell more.. Quote Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted October 25, 2012 Share Posted October 25, 2012 So lets see how many experts come out and tell them how this isn't going to work. Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted October 25, 2012 Share Posted October 25, 2012 doesnt make any sense, if he vaules the club at 17m, it's insolvent to the tune of about 5m considering the clubs debts.ive a feeling romanov wants out - hes looking to get whatever he can back from the fans via a share issue before putting them into administration.That is the point of a share issue. Quote Link to post Share on other sites More sharing options...
maverick1200 2,909 Posted October 25, 2012 Share Posted October 25, 2012 £1.79m for 10% the company, I'm no dragon but there's no fucking way hearts are valued/worth at £17.90m with their debt and assets. For that reason I'm out. Quote Link to post Share on other sites More sharing options...
Ricky_ 893 Posted October 25, 2012 Share Posted October 25, 2012 That is the point of a share issue.making stuff smaller. Quote Link to post Share on other sites More sharing options...
King Jela 20,927 Posted October 25, 2012 Share Posted October 25, 2012 Just hurry up and die. Quote Link to post Share on other sites More sharing options...
GMac 1,405 Posted October 25, 2012 Share Posted October 25, 2012 11p a share? Are they selling them at the Ice cream van? Quote Link to post Share on other sites More sharing options...
Blueshoff 12,383 Posted October 26, 2012 Share Posted October 26, 2012 £1.79m for 10% the company, I'm no dragon but there's no fucking way hearts are valued/worth at £17.90m with their debt and assets.For that reason I'm out.And add to that - what is their projected income/outgoings per season???Even if revenue exceeds costs (including servicing their debt) how long will it take to clear the debt?Will the sfa/spl come clean and admit they are in the shit? Quote Link to post Share on other sites More sharing options...
johanhentze 14,449 Posted October 26, 2012 Author Share Posted October 26, 2012 Were they not in dept to the tune of £40m or something? I doubt very much that Romanov takes his debt, with his bank, with him when he leaves.. Quote Link to post Share on other sites More sharing options...
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