Happy days !! Hearts have won a major victory in the battle to move out of administration, after today’s meeting to reach a deal with creditors found 87% of them in favour of the deal. The first of five stages appears to have been hurdled successfully, with the other four still to be met. Stage Two will be to reach an agreement at a shareholder’s meeting this afternoon, with the third being securing shares from Ubig. Four is securing a sale and purchase agreement, while Five is completing the deal within a timescale. UBIG abstained from the vote staged at Tynecastle this morning but 87 per cent of those taking part did back a £2.5million rescue bid being offered by fans group Foundation of Hearts. A shareholders’ meeting is also due to take place at 12pm but even if they back the FoH offer, it may be February before the process of taking the club out of administration is complete.
Posted on: Fri, 29 Nov 2013 11:31:16 +0000
Trending Topics
Recently Viewed Topics
© 2015