Share deal attracts interest for AFC Telford
Several investors have expressed an interest in AFC Telford since moves began to change the ownership model of the club.
Members of the Telford United Supporters Trust voted overwhelmingly for change yesterday – with 97 per cent in favour of waiving a 14-day rule notice rule that is legally required in order for an Special General Meeting to take place, where it will be proposed the Trust sells its 1,000 shares back to the football club.
The Supporters Trust, whose chairman is Steve Bowyer, were confident the proposal would be accepted and have now confirmed the meeting on Monday at the Learning Centre (7.30pm).
A Telford United Supporters Trust and Club Board statement said: "The Trust Board are recommending that the 1,000 shares the Trust currently own in the football club are sold back to the football club."
If the Supporters Trust does indeed sell its shares back to the football club, the club will issue 5,000 ordinary voting shares at a cost of £100.00 each.
The statement added: "If this share issue is fully subscribed and indications are that it would be, this would raise £500,000 in new capital for the football club.
"For a number of years now the football club has been looking to secure significant new investment to invest both into the facilities at the football club and to secure additional sources of income to fulfil the club's ambition of achieving and this time sustaining football in the Conference Premier/National League and ultimately the longer term ambition of securing league football.
"Since the football club announced last Tuesday, 11 October, that it was requesting that the Trust board looked at an alternative ownership model, there have been several interested investors/parties contact the club expressing a desire to purchase shares in the football club.
"As yet the board of the football club have registered those interests and will speak to those possible investors once the football club has the power to do this. The board of the football club will only speak to investors who they believe have the best interests of the football club at heart."
Also added was that the stadium would be protected from being sold by the board or shareholders, as the freehold is owned by Telford & Wrekin Council.
