SAINTS’ share price slid further down yesterday, as it hit yet another new low.

The market value of the company fell to £2.81m, after the individual share price dropped by 1.5p to just 10p.

It is the latest in a long line of hits to the value of Southampton Leisure Holdings, the club’s parent company.

The difficult financial situation of the club is well publicised.

Saints are carrying debts in the form of an overdraft and a mortgage on St Mary’s and are reliant on the support of Barclays Bank and the stadium note holder, Norwich Union.

The latest drop further reflects the lack of market confidence in the company.

The price of 10p marks a 73.68 per cent decline in the last year and nearly 60 per cent in the previous six months.

The value of the club is simply a notional one, as it assumes all the shareholders would sell for 10p.

However, it does give an indication of the value of the major shareholdings.

Football board chairman Michael Wilde has seen his investment drop below the half-a-million mark to £462,247.

PLC chairman Rupert Lowe’s holding has dwindled to £157,797.