Yes it is the legal entity we refer to as ‘the trust’. It’s a ‘registered society’.Torquay Exile wrote: October 19th, 2021, 4:43 pmIs this to do with the Trust?landinho wrote: October 19th, 2021, 3:54 pmhttps://mutuals.fca.org.uk/Search/Society/8809Torquay Exile wrote: October 18th, 2021, 6:32 pmIs the trust a charity? or to put another way, do they see themselves as charity and doing work for the community?Kairdiff Exile wrote: October 18th, 2021, 4:12 pmOf course. There are also plenty of people who would consider themselves to be Newport County fans who can't afford £20 for a match ticket. I don't consider them any less of a fan than I am, but from the club's point of view there has to be a price for getting into the ground so the club can survive financially, and from the Trust's point of view there has to be a cost to membership for the fan-owned model to be viable. £5 a month is a significantly smaller sum than a match ticket, so I think most would say it's a reasonable amount.Torquay Exile wrote: October 18th, 2021, 3:01 pm There are many supporters out there. Who would find it difficult? to pay £5 a month. Don't you agree?
The status of those who bought Trust shares is definitely anomalous and needs to be clarified. I'd suggest saying that they all get allocated de facto Trust membership for a set period (5 years? 10 years?) in recognition of their contribution, after which they are asked to pay their subs like everyone else. There may be better ways of doing it - it'd be interesting to hear suggestions.
The shares seem to have been written down to a total value of £1 as they were deemed to hold no market value. Most recent statement also confirms shareholders must remain members of the ST and their share will be cancelled if their membership ceases.
Seems the share sale is being treated as a one off donation, with no consideration to the shareholders other than the symbolic right to say ‘I’m an owner’.