I assumed that the £5 share price was more of a fundraising scheme rather than a true attempt at valuing the shares.
Fans were being encouraged to donate money and they got a nominal amount of shares back.
As has been said the value is whatever the shareholders will take for them.
I bought a small parcel of shares many years ago for £5 just as a nice way to donate to the club. I have aways valued the shares at nil, because it is unlikely that I will ever get any sort of dividend in my life, other than the pleasure of owning part of the club (which is enough dividend for me). In those days, we had our problems but the fans were behind the board more or less...I think were bailing out the mistakes of a previous board. I know I won the shares, I get the accounts every year. I lost the certificate in multiple house moves over the years...but I know I still own a small pat of the club.
The problem with investing in a football club is that legal valuations in the normal sense do not apply. Its unlikely that a club like Alty will ever distribute dividends to justify a valuation of even £1 per share, never mind £5 a share.
Historically some people bought clubs like this as it is a money cleansing operation - large cash business with no way of knowing how many people really passed through the gates. This is great if you had a dirty drugs or prostitute business on the side..in these days of increasingly cashless societies it is harder to find such businesses...but I know of 2 of the better restaurants in Hale where the owners are reputed to be involved in drug dealings, so this still happens. Other reason was (and is) that football clubs are trophy assets satisfying people with large ego's. Another reason, and this doesn't apply to Alty, is the money one can skim when doing transfer deals, especially with overseas clubs. The final reason is a sense of giving back to the community and supporting your local team. Unfortunately the number of people in the 1st 3 categories outnumber the final category. Also, the people in the first 3 categories are usually willing to pay a lot more usually willing to pay more. Sadly those people are the least suitable to own and run football clubs. Alty is a little more complex because of the land issue...there will always exist a small possibility of winding up the club and building homes on the land.
So choose your number. I would mop up as many shares as possible at £1 each. But I don't have a particular ego or a drug habit/business. So I will probably be massively outbid if the cub comes on the market formally