Hibs today confirmed that an Information Memorandum providing details of the Board’s plans to widen ownership of the Club has also been sent to shareholders ahead of the AGM on January 28th. The Club will be writing to supporters later in the week to let them know how they too can participate in the share issue.
The Board announced on 29 December 2014 that it intended to widen the ownership of the Club by making new shares available to supporters. Enough new shares are being made available which, if fully subscribed, would see supporters own 51% of Hibernian FC which would receive all of the £2.5m proceeds of the issue. None of the money subscribed is going to the holding company or to any of the existing shareholders.
The mailing to shareholders contains the Written Resolutions changing the Club Articles to make the new shares available and giving the Board of Directors the necessary powers to issue the shares. Applications for new shares open on 2 February 2015 once the share issue has been discussed at the shareholder meeting.
The Club confirmed this is not an open offer to the general public. Accordingly, details of the share offer set out in the Information Memorandum can only be made available to shareholders and supporters of Hibernian FC. Disclosure of the contents of the document as a financial promotion to any other person may be a criminal offence under financial services legislation and regulations. The Information Memorandum has been approved by NCM Fund Services Limited which is authorised and regulated by the Financial Conduct Authority.
Voting for two new Non-Executive Directors to represent supporters on the Club’s Board is nearing completion, with voting due to close at midnight on January 18th. The Club would urge those eligible but who have not yet voted to visit www.hibernianconsultation.co.uk and read the personal statements issued by candidates before casting their vote via the secure voting page.
John graduated from Telford College in 2010 with an HNC in Practical Journalism and since then he worked for the North Edinburgh News, The Southern Reporter, the Irish News Review and The Edinburgh Reporter. In addition he has been published in the Edinburgh Evening News and the Hibernian FC Programme.
