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Jamieson withdraws bid following 'threats'

Bob Jamieson, the Peebles-based businessman, yesterday cited "threats to myself and my family" as his reason for withdrawing his offer to buy UBIG's 50% shareholding in Hearts.

His bid was lodged to rival that of supporters-backed group The Foundation of Hearts, which had agreed a deal which would allow them to lead the club out of administration.

The Foundation agreed a £2.5m Company Voluntary Arrangement with secured creditor Ukio Bankas last Friday and considered UBIG's stake to be worthless. However, Jamieson claimed to have offered £500,000 for the shareholding.

The Lithuanian investment company - which is also in administration - were duty-bound to consider the offer, but his withdrawal would appear to have cleared the way for the Foundation to take control of Hearts.

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