Summary
THE directors of Hearts now have permission to extend their borrowings to GBP 40million after a vote in their favour at the club's annual general meeting, held in the Gorgie Suite at Tynecastle, yesterday. The motion was passed in seconds, and was overshadowed by diatribes from the club chairman, Roman Romanov, against the Old Firm, the media and Steven Pressley, among others. In years to come, however, it could be, for better or worse, the single most important decision taken by the Edinburgh club.
Romanov chaired the meeting of around 500 shareholders, and was accompanied at the top table by his fellow-director Sergejus Fedotovas. Formal business began at 11am and was concluded five minutes later. All six motions on the agenda were guaranteed to be passed given Vladimir Romanov, Roman's father, owns more than 80 per cent of the shares. They were all put to a vote, however, and all won easily on a show of hands.See the full content of this document
Extract
Five Minutes to Pave Way for Hearts Debt of Gbp 40m
Around a dozen shareholders voted against the reappointment of Fedotovas as a director, and 40 or so voted against the resolution to allow the board to double its borrowing capacity to GBP 40m. Otherwise, everything was passed without opposition.
After Romanov declared the agm closed, the floor was opened to questions. Alex Gowans, the chairman of the He...See the full content of this document
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