TUST secures significant shareholding in TUFC
Following the completion of TUST’s Community Share Issue, the TUST board has announced that an impressive £205,501 was raised through Crowdfunder for the Yellow Army Share Issue, with an additional £16,500 received via direct payments.
In total, 519 investors contributed, including 96 Platinum Investors who each pledged £1,000 or more. TUST’s overall membership has also increased to 1,140.
The combined total of £222,201 will be entirely used to purchase shares in Torquay United AFC, with all costs associated with running the share issue covered by existing TUST funds. This, along with the £50,000 previously invested from TUST’s Forever Yellow Fund, brings TUST’s total investment in the club to £272,501, securing them a 28.6% shareholding and two permanent places on the club’s board.
TUST volunteers will now work to reconcile the pledges, verify memberships, and arrange rewards for Gold and Platinum investors. Investors will soon be contacted to confirm details, including the names to be featured on the third shirt and the Investor Members Board at Plainmoor.
Both the TUST board and the Torquay United directors expressed gratitude to all supporters who purchased community shares.
TUST Chairman Nick Brodrick expressed his joy at the success of the initiative, saying, “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 TUST is now able to hand over a fantastic quarter of a million pounds. It’s truly a heart-warming story.”
TUFC Co-Chairman Michael Westcott echoed these sentiments, stating, “The Bryn Consortium always intended to promote fan involvement and ownership at Torquay United. The overwhelming success of the Community Share Issue shows the loyalty and commitment of our supporters. We are now a club of and by its fans, and this success has motivated us all to ensure we remain financially sustainable while striving for success on the pitch.”
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