HIBERNIAN have become the largest club in Scotland to offer the fans their chance to own their club, and the first to do so via the internet.
The club’s website revealed that owner Sir Tom Farmer and the board “is committed to offering fans the opportunity to own up to 51 per cent of the shares in the Club – a controlling interest”.
Supporter ownership of shares in Hibs has leapt from around two per cent to more than 20 per cent thanks to last year’s share issue and the work of Hibernian Supporters Limited which was set up to try and take control of the club.
Another unique feature of Hibernian’s widening of ownership is that all of the funds raised go directly to the club to fund “sporting ambition”, as the club called it.
“The purchase of new shares has seen additional investment in football of more than £0.5 million over the past year,” said the club.
A key development is that, thanks to the internet technology offered by local business ShareIn, Hibs are now offering the chance to buy shares online.
Chairman Rod Petrie said: “The Board has taken its time to learn from the share issue. There has been significant consultation, and the solution that we can now put forward is innovative, as supporters expect from Hibernian.
“We’ve listened, and we have tried to make the process of buying shares as straightforward as possible but still within the regulatory framework which is designed to protect investors.
“Barriers have been removed, and supporters can now have a real say in the future of their club.”
The Hibs board plans to ensure that Easter Road Stadium and the club’s extensive training ground near Tranent in East Lothian is secure in the club’s ownership.
Chief Executive Leeann Dempster said: “There is no doubt that there is a huge well of goodwill and desire out there from supporters to get more involved with their Club, to enjoy greater ownership, and to buy shares safe in the knowledge that the money they spend will be used to strengthen the Club they will own.”
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