Tony Bloom has made a formal offer to take a 29% stake in Heart of Midlothian.
Hearts announced today they had received his formal proposal, the statement read:
Heart of Midlothian can confirm that Tony Bloom has made a proposal to invest capital of £9.86m into the club for which he shall receive a 29% stake in the club via non-voting shares.
A consultation period with the club’s majority shareholders – the Foundation of Hearts – will now begin.
The consultation will explain the proposal to FOH members and ascertain their views before asking them to vote on this. A majority of FOH members’ acceptance is required (as determined by the FoH board) for the proposal to be successfully carried forward.
Following the FOH consultation process, an Extraordinary General Meeting of the club’s shareholders will be called in order to formally approve the transaction.
In the meantime, the transaction remains subject to entry into legally binding documentation, SFA approval and other normal course regulatory requirements.
The club will now enter a consultation period with the Foundation of Hearts (FOH) who are the major shareholder in the Scottish Premiership club – and must receive more than 50% approval from its members to be successful.
