HEARTS’ share issue has reached the £800,000 mark as supporters continue to help their club in its hour of need.
Director Sergejus Fedotovas praised fans’ efforts in saving Hearts from liquidation. However, he stressed that extra subscribers to the share issue are vital.
Initially, shares were offered publically to raise £1.79 million and help Hearts bridge a near-£2m funding gap. That has now been reduced by half to £1m, according to Fedotovas, who added that each fan who buys shares will be recognised throughout history as having played their part in preserving Hearts’ existence.
“Since the launch of the Share Issue, 3200 fans have taken up the option to buy shares and each and every one of them should be satisfied at the efforts they have all made,” Fedotovas told the club website.
“It is with their assistance we have saved the club from liquidation in November and with their help we will be able to pay the players’ December salaries. We will do all we can to mark the sacrifices made by these people and their dedication to the club.”
Fedotovas warned that further financial problems could arise if the share issue, which ends on December 19, is undersubscribed. “We do not have a home game in January after the Hibs game on the 3rd until Dundee visit on the 30th,” he explained.
“If we are not able to bridge the target for the share sales, the club will be in the same difficult position as we were in November, but this time with no option for shares.
“It is premature to speak about any transfer business as it is never known in advance if deals will happen, particularly with staff salaries and monies due to the tax man in January. It goes without saying that if we sell players without suitable replacements being available, our league position could suffer.
“We had 100,000 supporters celebrating in the streets of our capital city after our Scottish Cup victory in May, and have 8500 season ticket holders. I appreciate a lot of these people may still be reluctant to pledge their monetary support to help the club in our hour of need. If that is the case, I would urge every fan to ask themselves: ‘Have I done all I can to help the club that means so much to me and people close to me?’
“If they are brave enough to answer ‘no’, then there is still time for them to act, but if they choose to wait, it may be a bad decision and there may be no return.
“Starting shortly, the club website will have a dedicated area featuring all those who have contributed to the Share Issue, recognising their contributions. The Board is also considering earmarking a dedicated place in the stadium where the names of those have bought shares and helped the club in 2012 will be listed.”