01st July 2016 by Chris Ammonds - Latest News
Hereford FC Chairman, Jon Hale, has thanked the HUST (Hereford United Supporters Trust) membership after an overwhelming majority voted in favour of issuing a further 80,000 shares in the club.
50,000 of the shares – which each have a value of £1 – have been issued to Rob Crawford, while the other 30,000 have been issued to HUST.
This brings the total number of £1 shares in issue to 369,000, with HUST being the largest single shareholder with 80,000. There are now five further shareholdings of 50,000 each, while a total of 39,000 were sold as ‘fans’ shares’.
Speaking this week, the Bulls Chairman said:
‘I’d like to thank the HUST Board and its members for voting in favour of issuing these additional shares.
‘With an old stadium to maintain and the club’s aim to ensure stability at all times, having this additional funding available can only be a positive for the club.
‘To allow the introduction of the £50,000 from Rob Crawford on the same terms as the four founding shareholders – who each purchased 50,000 when the club was officially formed to give it a solid financial base, HUST has been offered an extended timeframe of five years to purchase 50% of the shares in Hereford FC, rather than the three years that was in the original plan.’