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Next Game: Scarborough In The League At Edgar Street On Tuesday 19th November At 7.45pm

Sunday, September 01, 2013

Slow Progress For Share Issue


It's now six weeks since Hereford United shareholders declined to support the proposed share issue. Progress on the issue appears to be very slow and as yet there's still no firm date for another shareholders meeting to discuss the issue.

BN understands players and staff were paid this week but with a gate of only 1527 yesterday, finances are very tight.

There should be some relief when the FA decides how much compensation the club will receive for the three young players who left in the summer but even when that amount is received it might not cover the current monthly deficit for long.

Yesterday chairman David Keyte mentioned the subject in his programme notes.

'Off the pitch we have an important month of September before us. We plan to re-issue our plans for a new share issue over the next few weeks.

'We really do hope that the required majority will feel able to support the proposals this time around as this share issue represents the strongest case for financial stability into the future.'

Director Colin Addison was asked whether a date had been fixed for another shareholders meeting.

"No, I don't think so," Addison told BN.

"I'm sure it will go ahead, I know there has been a few little problems to be ironed out.

"I'm sure David (Keyte) will do that in time.

"Let's hope that happens, it will be a positive move for the club."

Meanwhile HUST, the supporters trust, say they might like to buy shares in the club if and when funds allow.

"It's something we'll definitely look at," Trust spokesman Jon Hale told BBC Hereford and Worcester.

"We are waiting for the news on the share issue with interest and we've talked openly to the board about this.

"The trust will be gathering funds so we may well be in a position where the trust can buy shares and have more of an involvement through that platform.

"But we haven't come in to take over the club, that's not what we are going to do."