On Wednesday afternoon, shareholders were asked to approve three resolutions. – Give the board the authority to issue 63,917,644 non-voting shares to Tony Bloom. – Give the board permission to waive pre-emption rights that would otherwise apply to these non-voting shares. – To approve the Club’s new Articles of Association.

The non-voting ordinary shares were priced at 10 pence each, for a total nominal value of £6,391,364.40. The nominal value of the shares is £6.391 million, whereas the £9.86 million Bloom investment represents the market value of the shares and is referred to as the share premium. All three resolutions were approved, as predicted. Bloom has already visited the Scottish FA to complete the necessary paperwork for the investment. Once it is approved, he will nominate a close advisor to serve on the club’s board. Scottish FA chief Ian Maxwell recently expressed support for Bloom’s investment.

“They’ve not been particularly complicated,” he said. “To be honest, we’ve definitely been more open. Multi-club ownership is here. It’s part of football. When you look across Europe, the number of clubs that are involved in some multi-club structure is growing by the day. We need to be part of that. Why would you limit that investment?”It was genuinely interesting once you started thinking about the process. We had dual-interest restrictions, which meant that if you were already interested in a club, you couldn’t join a Scottish club unless we agreed. But someone like Tony Bloom, who is getting involved with Hearts, has a track record at Brighton, understands football, plays for Union Saint-Gilloise, and is familiar with other clubs. “We really make it more difficult for him to break into Scottish football than we do for someone who recently sold a firm for £10 million and has no knowledge of the Scottish game. When you get into it, you realise, ‘That probably doesn’t make a lot of sense.

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