The Foundation of Hearts (FoH) and the Hearts Youth Development Committee (HYDC) are pleased to announce that, following HYDC’s decision to wind up its operations, the group’s 386,864 shares which it held in Heart of Midlothian have been transferred to the Foundation of Hearts.

HYDC acquired the shares following the club’s 2014 shares issue, with many fans, players, former players and supporters groups choosing to donate their shares to HYDC. With the group ending its fundraising work in April, HYDC took the decision to transfer its shares to FoH, as the supporter vehicle which will ultimately take majority shareholding of the club.

HYDC chairman Calum Robertson took the opportunity to thank everyone who had entrusted shares to the organisation and encouraged fans to continue to support the Foundation of Hearts in any way they can.

“It was obvious that the shares should go to another fans group,” he said, “and we are delighted that the shares will support the ultimate aim of the Foundation of Hearts to secure a controlling interest in the club.”

FoH chair Stuart Wallace paid tribute to the work of HYDC. “The fundraising carried out so successfully by HYDC, particularly to support the club’s Football Academy, was absolutely outstanding and has played a huge role in securing the foundation on which the club is now building for the coming years. Everyone associated with the club owes HYDC a great debt of gratitude for their work.

“We are honoured and delighted that HYDC has decided to transfer its shares to the Foundation, and thank them most sincerely for coming to that decision. It exemplifies the solidarity and shared vision among the different organisations which, along with the club’s executive itself, have one clear and common purpose – a great future for Heart of Midlothian Football Club.”