Share Scheme Report 2006
January 1, 2000
You will be aware that Junior Agogo was brought to the club with the help of the Share Scheme. I am sure you will agree that Junior’s goals have helped our recent progress on the pitch. May I thank all supporters whose contributions helped us support the football club in this signing. As part of that deal the football club agreed that the Supporters Club would be entitled to 10% of any profit from a future sale. The Supporters club share of £2,500 has been re-invested into the share scheme to help fund the purchase of Rickie Lambert with the Supporters Club also gaining 500 shares.
Up until June 2006 the Supporters Club had handed over £541,000 over to the football club. The supporters Club now owns 146, 750 shares representing an 8% shareholding in BRFC 1883.
The current membership at the end of August stands at:-
The numbers have dropped steadily over the last year primarily due a poor start to the season under Ian Atkins in 2005/6 and because many members have reached their third year anniversaries in the first half of 2006. Whilst performances have improved under Paul Trollope and Lennie Lawrence failure to gain promotion last term and the board room problems over the summer have also contributed to a number of other members cancelling their subscription. During June, July and August there has been a big drop in membership with 116 leaving the scheme in July/August. Many of those dropping out have now completed their 3rd year. We are hopeful that some of these will have rejoined and that their new bank mandate has not shown up on the bank reconciliation yet. However, the underlying trend is worrying and I urge fans to continue supporting the share scheme. This is essential if we are to help the football club with signings like Andy Rammell, Junior Agogo and the very ambitious signing of Rickie Lambert.
I would particularly like to thank those who completed 3 years. I would also like to ask those who dropped out over last summer and the first part of last season to rejoin now that we are making progress under Lennie Lawrence and Paul Trollope.
On a positive note the first corporate member, Alarm services Group, have been signed up and this is an area we need to grow. The corporate scheme is primarily aimed at small businesses and I would be pleased to hear from anyone who is interested for themselves or know of any companies who may be interested. The subscription is £1200 per year but with tax savings can be less than a platinum membership.
I reported in the last programme how £541,000 of share scheme money handed over to the football club had been spent in accordance with the 40/40/20% split in the share scheme agreement. In summary:-
40% – £216,400 – Used to reduce debts
40% – £216,400 – Used for operational costs (to pay mortgage interest)
20% – £108,200 – Used for transfer fees and contribution to players wages
“Together we have made a difference”.
For the first time income from the share scheme has dropped below the £10,000 per month that we have pledged to the football club. We hope that you the fans will help to reverse this decline.
If you are not a member of the share scheme would you please consider joining? If you are a member you can help by introducing a friend to the main scheme or even a ‘Corporate Scheme’ if they are a small business. We can post or e-mail copies of the Share Scheme advertising leaflet and/ or standing order mandates to you. Hard copies can be collected form the caravan in front of the Memorial Gates, Pirate Leisure or 199 Two Mile Hill Road.
“We need your help in ‘growing’ the Share Scheme income”
Should you want any further information on the Share Scheme you can contact David Brain on (07765) 254110; [email protected] or Clare McDonagh at Pirate Leisure on (0117) 952 4001.
In order that our communication with you can be improved could you send an e-mail to [email protected] with your address, telephone numbers and any other relevant contact details? We can then capture your e-mail address and this will enable us to keep you updated more regularly.
Thanks for your continued support,
David Brain, Share Scheme Chairman and Associate Director