TUST secures significant shareholding in TUFC
Following the conclusion of TUST’s Community Share Issue last week, the TUST board have announced that an amazing sum of £205,501 has been raised through Crowdfunder for the Yellow Army Share Issue, with a further £16.500 raised from direct payments received.
In total, there were 519 investors, of which 96 are Platinum Investors pledging £1,000 or more. TUST has also seen its overall membership increase to 1,140.
The total of £222,201 will be used in its entirety to buy shares in TUAFC with all the costs associated with running the share issue and collecting the investment sums being met from existing TUST funds.
This, together with the £50,000 previously invested from TUST’s Forever Yellow Fund, means that TUST will have invested a total of £272,501 in the Club which will secure TUST a 28.6% shareholding in the Club and secure two places on the board forever.
There is a considerable amount of work to be done by TUST volunteers now to reconcile the pledges, check TUST memberships and arrange the rewards for Gold and Platinum investors. We will be contacting all investors shortly to confirm their details including the names they wish to see on the 3rd shirt and the Investor Members Board’ to be displayed at Plainmoor.
Both the TUST board and the TUFC directors would once again like to thank all supporters who have purchased community shares over the course of the last month.
Nick Brodrick, TUST Chairman, spoke of his delight at the success of the CSI venture.
“This has been an amazing show of love and support for our football club, which not long ago was on the critical list.
“Not only do we have a team to follow, but also now TUST is able to hand over a fantastic quarter of a million pounds.
It really is a truly heart-warming story.”
TUFC Co-Chairman Michael Westcott echoed those sentiments.
“It was always the intention of the Bryn Consortium to facilitate fan involvement and ownership in Torquay United.
“The demonstration of our supporters’ loyalty and commitment through the incredible success of the Community Share Issue is genuinely humbling. We are now a Club of and by its fans.
“The CSI success has served to galvanise all of us at Plainmoor, and to ensure that we will work even harder to repay the faith shown to us, and to ensure we remain financially sustainable whilst striving to bring success on the pitch that our supporters truly deserve.”