Trust Launch Share Scheme
Wednesday, 6th Aug 2003 14:34
Town supporters without the cash up front to invest in the club's upcoming share issue will be pleased to learn of a share save scheme instigated by Ipswich Town 1st, the Town Supporters Trust.
Many fans were dismayed to hear that the minimum investment in the October share issue would be £200.
Not all supporters have the ability to find a flat £200, and with this in mind the Trust approached the club about the possibility of introducing a share save scheme.
The scheme would enable fans to save the amount needed for the minimum investment over a period of up to a year. The money saved would be held in an interest bearing account. At the end of the savings period the money saved would be invested in previously unissued shares on a set date and the shares placed in the fan's own name.
The club have indicated that they are receptive to such a scheme and are consulting their advisors about including it in the planned share prospectus to be issued towards the end of August.
The scheme is aimed at those supporters who cannot obtain the required minimum investment in one go and is not intended for supporters to defer their investment in the club. The Trust welcomes the club's support in agreeing to provide this facility to supporters.
Ipswich Town 1st had their second meeting with the club earlier in the week and further developments will be announced in the next few days.
Photo: Action Images
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