Share issue price drop
IPSWICH Town fans were today celebrating the news that they will be able to buy cheaper shares in the club.When The Blues launched their Own A Bit Of ITFC share issue in November, supporters had to buy a minimum of ten shares, each priced at £20.
IPSWICH Town fans were today celebrating the news that they will be able to buy cheaper shares in the club.
When The Blues launched their Own A Bit Of ITFC share issue in November, supporters had to buy a minimum of ten shares, each priced at £20.
However, many people felt that £200 was too expensive and the Ipswich Town Independent Supporters Trust looked at ways of making the shares cheaper.
They and the club have reached an agreement for fans to own five shares at a cost of £100 in a Share-Save scheme.
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Trust secretary, Colin Kreidewolf, said: "The trust will buy a block of shares which fans will pay for over a period of ten months."
At the end of this period, the trust will re-register five shares, valued at £20 each, into a name specified by the Share-Save member on completion of a stock transfer form.
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The club hopes to raise £5million from the share issue and a number of former players including Matt Holland, Paul Mariner and Roger Osbourne have already bought shares.
Ipswich Town chief executive Derek Bowden said: "The share issue is very important to the future of the club.
"We welcome the trust's initiative enabling supporters who are unable to afford to pay for shares immediately to spread the cost over a ten-month period."
Fans have until Friday, February 6 to join the Share-Save scheme, but there is a limited supply so it will be on a first come, first served basis.
Once the shares are re-registered in the supporter's name, they will receive a share certificate and the attached full voting rights and can attend general meetings of Ipswich Town PLC.
They will also receive copies of the annual report and accounts, but those buying shares through the Share-Save scheme will not gain any of the ancillary benefits associated with investing in the initial public offer.
Fans can join the scheme or find out more by contacting Colin Kreidewolf on 07968 876504 or by post at Share-Save, Ipswich Town 1st, PO Box 44439, London. SE1 2TW.
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