November 22, 2007
Last year was a fantastic year and I would not want to single out anyone. The players were obviously the key guided by our management team of Paul and Lennie with the rest of the back room staff. But please lets all remember the hard working staff and very significantly yourselves for the magnificent and vocal support. The share scheme also played its part. The Supporters Club received £2,500 from the sale of Junior Agogo to Nottingham Forrest and readily agreed to reinvest this money as our contribution to the signing of Rickie Lambert. How important his goals proved to be are now history particularly the winners against City and Hartlepool. However probably the best result of all was achieved at the Council House last January when planning consent was granted to redevelope the Memorial Stadium. The stadium regeneration team deserves special thanks. Whilst the 18 months away will be hugely inconvenient and costly to everyone I hope you will feel it is worth it when we move back into our new stadium.
“Together we have made a difference”.
This year the club has continued to support the ‘organised parties’ initiative to invite junior teams and schools to the Memorial Stadium. Significantly there has been a new initiative to give under 10’s free season tickets. The Supporters Club continues to promote any initiatives to make football more affordable for young families and get young fans into the stadium. Who can forget those little smiling faces around Wembley?
Firstly I would like to thank Clive Farquhar for his help in compiling this report. Most of all I would like to thank those of you who have supported the share scheme especially those who still contribute. Whilst the numbers have dropped this is still valuable income to the football club and helping to grow the Supporters Club shareholding. I would also like to thank Clare McDonagh, the share scheme administrator.
The Share Agreement, which was entered into in November 2003, entitles the Supporters Club to acquire shares in the holding company Bristol Rovers (1883) Limited (who own The Memorial Stadium), and runs until December 2008.
Prior to the commencement of the scheme, the Supporters Club had a holding of 38,280 10p ordinary shares in Bristol Rovers (1883) Limited. This equated to 2.74% of the 1,398,603 shares in issue at that time. Since the start of the scheme BRSC has also been donated 1,000 shares by Geoff Dunford which brought the share holding outside the share scheme to 39,280 10p ordinary shares in Bristol Rovers (1883) Limited.
By the end of October 2006 (immediately prior to the Rights Issue) shares held by the SC totaled 150,250 including shares acquired through the share scheme. The Rights Issue in November 2006 enabled the Supporters Club to subscribe for a further 150,250 shares at the Rights Issue price of 50p per share. This issue has now been fully taken up at a cost of £75,125.
At the 30th September 2007, the Supporters Club’s total holding of shares amounted to 300,500 funded by £28,703 prior to the Share Scheme and £626,125 since. This represented 9.36% of the issued share capital at that time, and was prior to the appointment of Ed Ware to the board. Percentages stated are based on the issued share capital at the dates specified and is obviously affected by both the Rights Issue last November and any separate investment from Directors or other investors.
Membership for the month of September 2007 was 332 (241 bronze, 77 silver, 10 gold, 3 platinum and 1 corporate) with an income of £5,105. Numbers fluctuate monthly and are currently averaging circa 370. This income is paid over monthly to the Supporters Club to fund its share acquisitions in accordance with the Share Agreement.
Going forward, the Supporters Club are entitled to acquire one 50p share for every £5 share purchased for the remaining duration of the agreement and 1.4m shares were ring-fenced for this purpose. This means that, there remains a further 1,138,780 shares that can be purchased through the Share Agreement.
Director and Share Scheme Chairman.