Club News

Announcement of acquisition of shares

30th August 2021

Heart of Midlothian PLC
Announcement of acquisition of shares
30 August 2021

Heart of Midlothian PLC (the "Company")

Acquisition by Foundation of Hearts Limited (the “Foundation”) of shares representing 75.1% of the entire issued share capital of the Company

The Company announces that in accordance with the agreement between Bidco (1874) Limited ("Bidco") and the Foundation dated 9 May 2014 (as amended and restated), the Foundation has today completed the purchase of 117,515,153 ordinary shares in the Company, representing 75.1% of the entire issued share capital of the Company, from Bidco for aggregate cash consideration of £100,000 (reflecting a price of 0.085 pence per share) (the "Transfer”).

The City Code on Takeovers and Mergers (the "Code") continues to apply to the Company.

The Company has consulted with the Panel on Takeovers and Mergers (the “Panel”) in relation to the Transfer, and the Panel has agreed that the Transfer has no Code consequences under Rule 9 of the Code. Accordingly, the Foundation confirms that it will not make a mandatory offer under Rule 9 of the Code.

If any shareholder of the Company is looking to realise their investment at the same price per share paid by the Foundation for the Transfer, please contact the Foundation on the details below to discuss.  

Contact:

Foundation of Hearts Limited

E-mail: Shares@foundationofhearts.org

Tel: 0131 243 8275 (10am-2pm, Mondays to Fridays)

The closing date for contacting the Foundation will be 30 September 2021