Hibs investment figure revealed as shareholders pump in extra cash

SNS Group
Exact number placed on buy-in by Gordons, Robb and fan group

Leading Hibs shareholders ploughed over £2.2 million into the club with their recent stock buy-in, according to documentation filed at Companies House.  The Easter Road outfit announced last week that Leslie Robb, fan investment vehicle Hibernian Supporters Limited and Bydand Sports LLC, owned by the Gordon family, had been given approval to up their investment in exchange for newly-issued shares.

And the paperwork made public today shows that, collectively, they acquired just shy of 26.5 million shares valued at 8.54 pence per share. The total investment works out at around £2.26 million.

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Although the club, which the current board value at around £26 million based on the price paid for those shares, posted losses of nearly £3.9 million in their most up-to-date accounts, those numbers don’t include figures from last season’s European games. The board remain confident that this year’s figures will show record turnover, making it easier to balance the books.

Following on from billionaire Bournemouth owner Bill Foley’s £6 million acquisition of a 25 per cent stake in Hibs midway through the season, the new influx of funding last week will help to offset the impact of missing out on a place in the top six – a failure that ultimately cost manager Nick Montgomery his job. And it may give new gaffer David Gray some extra leeway as he looks to rebuild his squad.

The latest investment was approved by directors – including Bill Foley and fellow Black Knight Group representative Ryan Caswell – at last week’s board meeting. The family of late chairman Ron Gordon, represented on the board by son Ian and widow Kit, remain majority shareholders.