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David Keyte has told BBC Hereford and Worcester that he has put over £600,000 of his own money into Hereford United so he hopes the new share issue will make a radical change to the financial set up of the club.
"This share issue will only be a success if enough supporters purchase shares in the required numbers such that we can begin to make some significant investments that will positively impact the club going forward," said Keyte.
"We've had 40,000 shares on the balance sheet for the past 30 or 40 years.
"But, in writing to fans over the past few months, we have found that a good 40% have either sadly passed away or are 'no longer at this address.
"In reality, we have 25,000 shares at 25p each as the share capital of the whole company.
"So we were faced with the question of 'Do we want to roll along from week to week with all our financial problems especially since relegation'"
"Or we do we try to make a radical change and try to take the club back in an upward direction."
