Romanov reaches share target

Hearts have revealed Vladimir Romanov has increased his stake in the Tynecastle club to just over 80%, which will enable the Lithuanian to fulfil his desire to de-list the club from the Stock Exchange.

A statement on the club’s website, www.heartsfc.co.uk, revealed the Ukio Bank Investing Group , a company in which Romanov has a controlling interest, either owns or controls or has received valid acceptances of an offer to shareholders in respect of a total of 10.1million Hearts shares, representing approximately 80.01% of the issued share capital of the club.

On February 2 Romanov became the largest shareholder in Hearts, with 3.7million shares, representing 29.9% of the issued share capital.

On March 8 the Lithuanian’s shareholding was transferred to UBIG.

In October Romanov then increased his stake in the club to approximately 55% of the total shareholding in his ultimate aim of getting over 75% which would allow him to opt the club out of being a plc.