The board would like to clarify where we stand with the money invested in the Trust.
In 2005 the Trust approached members to help with fundraising in the form of loan notes and £6,100 was raised to lay down the foundations for a longer term business plan. Then in 2012 a Community Share Offer raised over £184,000. This money was used on several projects including the Club Shop development, frost covers and purchasing various items of equipment for the Club.
During the takeover, the Trust board decided that the Community Share money held in its accounts should be repaid at face value, but there was a limit of 10% of share capital that could be repaid each year. The board unanimously decided to waive this restriction as a reflection of the fantastic unwavering support that members had given the Trust
Since the takeover, the Trust has refunded £66,400 back to our member shareholders: £16,100 in 2021, £46,100 last year and so far this year £4,200. No dividends have ever been paid. The Trust has a healthy bank balance, enough to repay the Shares and Loan Notes, but we will only be left with a small amount of money after full repayment has taken place
If you want to redeem your Shares or Loan Notes then please post your original certificate, along with your bank details to the Trust at FREEPOST WST (no stamp required)
If you’ve lost your original certificates please e-mail treasurer@wst.org.uk and you’ll be sent a “lost certificate indemnity form”. Please sign the form and have it witnessed and return it to FREEPOST WST along with your bank details.
We maintain a Share register so your repayment will reflect the total amount you paid into the scheme even if your certificate is not up to date.
