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Shrimpers Trust News Southend Re-United

Shrimperstrust

Supporting SUFC
Joined
Jun 16, 2004
Messages
1,883
Location
Southend on Sea
Further to our announcement on 27 September we are now pleased to launch our Southend Re-United campaign.

In these challenging times this is a facility whereby supporters can donate to a ring-fenced fund held by the Shrimpers Trust to then be used to help the club's ongoing finances.

We will keep the need and purpose of this fund under constant review and keep you informed of progress.

Full details and the donation facility can be found on the Trust Website here.
 
Is the trust intending to loan the funds, gift the funds or invest in equity?

it makes a difference to how much I donate. I think it should be the stated aim of the Trust to build a material equity stake in the company and obtain a board seat.
 
I would also like to think that RM would offer the trust a board seat,in that way thetrust can keep all the supporters up to date with the goings on in the club,save RM the time and trouble making statements
 
now tell me im not a rich man live entirely on my pension but i would like to donate a few aussie dollars but cannot locate how to donate.
 
Is the trust intending to loan the funds, gift the funds or invest in equity?

it makes a difference to how much I donate. I think it should be the stated aim of the Trust to build a material equity stake in the company and obtain a board seat.
I would also like to think that RM would offer the trust a board seat, in that way the trust can keep all the supporters up to date with the goings on in the club, save RM the time and trouble making statements

Sorry for taking longer than usual to respond, it's been a busy week!

We confirm that it is the stated aim of the Trust to gain a seat on the club Board. This is something we have spoken to Ron about in the past and will continue to do so.

Indeed, we see it as even more critical for our club's future that the Board has fan representation as and when the new ground ultimately moves forward.

Re shares the Trust does hold a small stake and whilst longer term this might be something to look to grow our holding in we feel that at present the timing is not right.

We hope that this answers questions on these matters.
 
Thanks for your reply - really appreciated.

if you are providing funds to the club though why not do so as an equity investment? You could dilute South Eastern Leisure Limited and I’m sure many of the supporters that own circa 20% would gift the shares to the trust. If you had 10% I think you would be the second largest shareholder (I need to check). If you had 25% then you would have real legal entitlements under the Companies Act.

He is not going to gift you a board seat. You need a material stake in the club to make it happen.
 
SOUTHEND RE-UNITED, AND A BRIEF GENERAL UPDATE

The Shrimpers Trust held a further Board meeting on Monday (12 October) at which the club's finances were again the main discussion point. We continue to be in regular contact with Ron Martin, and the Trust Board are also aiming to have a meeting with him immediately after the 28 October 2020 deadline for payment of the remaining debt to HMRC.


The monies raised so far under the 'Southend Re-United' campaign total £1,588.74, which includes £403.74 received from the 'Save Our Southend' appeal on GoFundMe.

To this can be added the sum of £6,411 (from the previous campaign in 2009) which remains in the Trust's reserves.

We would like to sincerely thank everyone who has made a contribution to the campaign. It currently remains our intention to take stock of the position during November and use whatever monies have been accumulated to help support the club'' ongoing finances.

New members continue to join the Trust (119 since the HMRC court case on 16 September 2020) and this further helps the Trust build up funds to ultimately help our club. The new member total includes 11 life members, one of whom we are delighted to say is SUFC Board member Gary Lockett.

The facility to make donations to the 'Southend Re-United' campaign remains open and can be found here.
 
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