"A document was lodged with Companies House today in which the Queen’s and Lord Treasurer’s Remembrancer (QLTR) disclaimed the Crown’s rights to 6,541,662 shares in Heart of Midlothian PLC, making them “bona vacantia” (vacant goods)."
Naturally, something like this - given Hearts' not-so-recent financial history - needed checking out.
Those of you familiar with Irish journalist Phil Mac Giolla Bhain's work will know that he cites a source in the City when clarifying financial information relating to the world of football.
I asked Phil if he could pass on this document to his "rugger playing chap in the Square Mile" for a more expert examination.
I thank Phil for doing just that and his financial source for being good enough to examine the document.
His response is as follows:
"If I was pushed for a view and not 100% confident then I think these shares may not be available for sale at all. They may never have been transferred across to the crown.
"If I am wrong then the valuation would not be original price paid for shares but a mixture of balance sheet value and any current share trades. Hope this helps a little. This is very strange indeed."