TUST secures significant shareholding in TUFC
The TUST board revealed that an incredible £205,501 was raised through Crowdfunder for the Yellow Army Share Issue, with an additional £16.500 raised from direct payments received, following the conclusion of TUST’s Community Share Issue last week.
There were 519 investors in all, with 96 Platinum Investors committing at least £1,000 in pledges. Additionally, TUST has seen a rise in membership, reaching 1,140 altogether.
The entire amount of £222,201 will be utilised to purchase TUAFC shares, with all expenses related to managing the share offering and disbursing the investment amounts coming from TUST funds that are currently in place.
This means that TUST will have invested a total of £272,501 in the Club, which, when combined with the £50,000 already committed from TUST’s Forever Yellow Fund, will guarantee TUST a 28.6% investment in the Club and two seats on the board indefinitely.
TUST volunteers currently have a significant amount of work ahead of them in order to verify TUST memberships, settle pledges, and set up rewards for Gold and Platinum investors. To confirm all of the information, including the names they would want to appear on the third jersey and the Investor Members Board that will be exhibited at Plainmoor, we will be getting in touch with each investor soon.
The TUFC directors and the TUST board would like to express their gratitude to all of the supporters who have bought community
shares during the course of the last month.
The chairman of TUST, Nick Brodrick, expressed his happiness over the CSI project’s success.
“This has been an incredible display of love and support for our football team, which was on the critical list not too long ago.
We now have a staff to lead in addition to the ability for TUST to turn over an incredible quarter of a million pounds.
It is an incredibly touching tale.
TUFC Co-Chairman Michael Westcott reiterated those concerns.
“The Bryn Consortium’s goal has always been to encourage fan ownership and involvement in Torquay United.
It truly humbles us to see how devoted and devoted our fans have been through the phenomenal success of the Community Share Issue. As of right now, we are a Club for its fans.
“Everyone at Plainmoor has been inspired by the CSI success, and we will strive even more to return the faith that has been placed in us and to make sure that we continue to be financially stable while pursuing our goals bring success on the pitch that our supporters truly deserve.”
