Last month, we introduced the “Monthly Donation for shares” scheme as a way of boosting the number of shares owned by the Trust in line with feedback from members earlier on this Summer.
With all of the shenanigans over the Summer, we saw this as a vital way of safeguarding the Club by increasing our shareholding. The money raised has been completely ringfenced for share purchases and will remain that way.
So far, we have accumulated £3,099.61 in the share funds. This comes from agreements to donate £847 each month, one off donations totalling £1,915, donations on T-Shirt sales totalling £265, and a profit on the T-Shirts and postage that totalled £72.61.
This has allowed us to purchase a further 600 shares this week in a private transaction with a shareholder. This is on top of a purchase of 300 shares that we made last month. We have also been given three separate donations of shares totalling 135 shares.
Once these have all been processed, it will take our shareholding from 12,625 to 13,660 which is worth 2.7% of the overall shareholding.
We have been in talks with the Club’s legal representatives today regarding the 50,000 shares that we have agreed to purchase from Director Andrew Kelly. We are working hard to resolve this and anticipate we will have a successful conclusion in the next few days. We will update members via our website once this has been resolved.