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Hereford United shareholders vote to go ahead with a new share issue
HEREFORD United's shareholders have voted by a substantial majority to go ahead with a new share issue.
At a meeting this morning (Thursday) at the club's Starlite Rooms, shareholders voted by 79% to 21% to proceed with the new issue.
Existing shareholders will first have the opportunity to maintain their existing proportion of the share-holding.
For each share currently held, they have an opportunity to buy up to a further 281 but must make their decision by October 21.
After that, new investors will have the chance to buy shares with the aim being to raise substantial capital to take the club forward.
"I feel that you have given the club a lifeline," said chairman David Keyte. "We can now look forward."