AFC Telford United - Press Release - Share Offer
Share Issue & Application
At the Company AGM on the 27th February the board of the football club announced that we would relaunch the share offer. As has been advised the initial share offer made in November 2016 there was a 32% take up of the authorised share capital of £500,000. The board of the football club again thank the 137 supporters who purchased shares on the original share offer. The terms of this relaunch of the share offer are detailed below.
The football club will look to issue the remaining 3,430 shares on the same terms as the original share offer. Each share is a £100 ordinary share with full voting rights. The share offer will run from the period 31st March to 1pm on 2nd May 2017. The restriction on the maximum numbers an individual shareholder can own was removed at the February AGM. The board will review share applications on the 2nd May. As with the initial offer any application to purchase 50 or less shares will be accepted by the club, applications for a shareholding in excess of 50 shares will be reviewed by the board.
The board will be writing to all existing shareholders offering them the opportunity to purchase additional shares. The club will also be writing to all season ticket holders, Trust board members and sponsors to advise the terms of the share offer.
The club will again run the instalment plan for any supporter who wishes to buy a single share, this will be payable by four instalments of £27 payable from 2nd May to the 2nd August 2017. The additional cost of £8 will cover administration charges. Upon receipt of the last payment a share certificate will be issued.
The board’s preference is that several major shareholders will come forward to purchase significant shareholdings and that those shareholders will take an active part in running the football club. The club is short of directors and will look to appoint additional directors from the new shareholder base. However, should a single major shareholder come forward the club will be very keen to enter dialogue with such investor(s). The club board want new shareholders who will work to drive the club forward.
The club is looking to attract shareholders who have the genuine best interests of the club as their reason for investing, the freehold of the ground is held by Telford & Wrekin Council on a 150 year lease, meaning the only use of the ground will be to play football as AFC Telford United.
The board of the football club still consider that there is a requirement and need to get the share offer fully subscribed to the authorised share capital of £500,000. The objective to raise £500,000 remains as advised in October last year and that is :
Please click on the link below for the Share Application Forms
- Ensure that the medium-term finance of the club is secure
- Look to invest in schemes to generate revenue outside of football to invest in the football club.
- We are currently looking to extend the Learning Centre; this will be done through grant assisted funding but we need some initial capital to start such projects off.
- Continue to invest in a club staff structure to generate additional commercial and other income
- Continue to develop a short, medium and long term plan to get AFC Telford United back into the National League and sustain football at that level and beyond.
- Look to work more closely with both local businesses and national/international businesses who have a presence in Telford
The Board of Director’s AFC Telford United
31 March 2017
Shares March 17.pdf