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Hereford United chairman David Keyte thought that the financial proposals put forward at this evening's shareholders meeting had been well received.
"I thought it was a very positive meeting, "Keyte told BN.
"I think the proposals seemed to be very well received and we look forward to pushing on with it now.
"One proposal is we would like to issue shares, create a new shares issue.
"We have been a bit ham-strung with 40,000 shares over the years and when talking to possible new investors we've struggled to give something obvious in return so we've proposed that we will try to raise £1.5M through £1 shares for a range of projects including development of the stadium, improving facilities and also the training facilities.
"We've also discussed the possibility of the fairly substantial loans that are now backing the club, to give those loanees an option of to convert into shares which will improve our balance sheet and debt."
Asked if the chairman would take the lead and convert some of his substantial loans to the club into shares, he said he would.
"I'd have no qualms with the first £100K," said Keyte.
Keyte then referred to the deals done with the Richardsons to get back the leases of Edgar Street.
"Graham Turner had got a scheme drawn up and approved by the local planners and that was left with us when Tim Russon and I came on-board.
"When we went to the Richardsons they said they had never given permission for that and nor would they until we had agreed something on the leases.
"So that emphasised the need for us to directly get hold of the leases again, which we did in November 2010.
"We are now getting close to moving these projects forward."
Keyte and his board will need to get as much publicity as possible for their plans.
"The key is to get a very positive message out to the 1500 supporters who come to watch us and also the 5000 or so who can't come to games that often but are still genuine Hereford United supporters.
"This may be quite an attractive proposition to people perhaps located in London or away from here who can't make the matches but are keen to help."
