Hamilton Academical Football Club Limited today held an Extraordinary General Meeting of shareholders at which resolutions were passed to facilitate major investment in the club.
The club’s plan is to raise investment funds from a number of individuals diluting Chief Executive Colin McGowan’s controlling interest and leaving the club with a number of shareholders each holding a minority of the shares.
Colin McGowan commented: “Hamilton Accies was formed in 1874 and became a limited company on the 7thof August 1903. When a group of local businessmen came together to create footballing opportunities for all skills and ages.
“This has continued as we now have one of the most successful and highly regarded academies in Scotland and the money raised from this proposed investment will be targeted at its development.
“This will form the base of a long term and sustainable recovery of the team’s fortunes. Today’s show of support from shareholders is fundamental to allow the club to return to a position where no one person is in control, representing what the original founders created.
“This of course is dependent on the Club converting the interest which it has received into actual and substantial investment.”