rjdgull
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Post by rjdgull on Sept 1, 2024 19:25:57 GMT
Update on this has been issued by the TUST board. Crowdfunder UK where ideas happen You have a new update from Yellow Army Share Issue YELLOW ARMY SHARE ISSUE - 1ST SEPTEMBER UPDATE As at 1st September ( 7pm) we are delighted to confirm the total of £137,281 has so far been pledged to our Community Share Issue with 26 out of the 35 days still remaining. The initial minimum target of £100,000 was “smashed” within 5 days of launch and we continue to receive a significant stream of pledges. It is especially heartening to see the depth of support, with 320 individual pledges so far and as a result we have seen TUST membership numbers pass 1,000 from just over 400 a year ago. All the funds raised (except for the fees associated with collecting them) will be transferred to the Club and deployed on and off the pitch as it moves to a sustainable financial model to safeguard its long-term future. The higher the capital raise from the community share issue, the greater TUST’s ownership stake in the Club will be and this will allow it to go further and faster in its rebuilding programme and its journey towards its stated ambition – a return to the Football League. With our initial £100,000 now reached, we are setting our next target at £250,000. Achieving this “stretch target” will provide a huge boost to the chances of fulfilling this goal. The TUST board would like to take this opportunity to say a “huge” thank you for your support so far. We have been blown away by the strength of feeling from the Yellow Army. TUST MEMBERSHIP As you will hopefully be aware, all subscribers to the Community Share Issue need to be members of TUST. Therefore, if you have not already joined TUST can you please do so by visiting the Yellow Army Share Issue landing page at www.tust.co.uk/yellow-army-share-issue or via the following link www.tust.co.uk/join-1. We must stress that ownership of Community Shares is contingent upon being a TUST member. Once the fundraise has completed on the 27th September we will be undertaking a reconciliation exercise and will have no other option than to cancel applications and reimburse pledges for those subscribers who have not joined TUST. Please refer to the Offer Document for further confirmation of this point. REWARDS AND BENEFITS We have received a number of queries regarding the Rewards and Benefits associated with the 2 packages. To put your minds at rest, we will be contacting each subscriber once the fundraise has been completed in order to confirm the following information: The name you wish to have detailed on the Team Shirt and the Investor-Member Board (or indeed if you want to have your name showing). Whilst the ownership of the shares has to be in the name of a TUST member, we are keen to accommodate where we can any specific wishes for a name on the Shirt or Board i.e. The Smith Family (for example) or a Group Name. Naturally, there has to be some limitation on the characters or we will run out of space, given the huge success so far and the number of subscribers!! How to collect your share certificate and pin badge Dates for Meet the Manager events Dates for Exclusive Reception, Annual Golf Day and process for Director for the Day (Platinum members). We have a team who are working on these aspects and we will communicate further with you once the fundraise has completed. PAPER VERSIONS OF THE OFFER DOCUMENT/APPLICATION FORM There are a number of supporters who are unable to or do not wish to purchase community shares online. Naturally, by the very receipt of this email you have been able to follow the online process and this is the easiest way to apply and for TUST to administer the offer. However, if you know of any potential subscribers who would like to contribute but are not able to pass through the online journey, please make them aware that paper copies of the offer document and application forms are available at the Torquay United club reception. Once again, thank you for your support at this time Yellow Army - You are all simply amazing! The TUST Board |
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rjdgull
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Post by rjdgull on Sept 11, 2024 6:10:17 GMT
YELLOW ARMY SHARE ISSUE - HALF-TIME UPDATE
As at 10th September (9.30pm) we are delighted to confirm the total of £152,781 has so far been pledged to our Crowdfunder Community Share Issue with 17 out of the 35 days still remaining. However, in addition to this sum we have also received a further £8,750 from direct “manual” subscriptions which gives a grand total of £161,531.
To date there have been 364 subscribers contributing to this total with an average contribution of approximately £443 each.
Membership of TUST as at 10th September has reached 1083 which is fantastic.
As mentioned in our last update, the higher the capital raise from the community share issue, the greater TUST’s ownership stake in the Club will be and this will allow it to go further and faster in its rebuilding programme and its journey towards its stated ambition – a return to the Football League.
By way of an example, if the current sum of £161,531 raised was used in its’ entirety to purchase a stake in Torquay United Association Football Club Ltd ("the club"), TUST would own 23.75% of the club when coupled with the £50,000 already subscribed through the TUST Forever Yellow Fund.
Achieving our stretch target of £250,000 would take this ownership stake to over 30%.
The TUST board would once again like to take this opportunity to say a “huge” thank you for your support so far.
The TUST Board
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chelstongull
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Post by chelstongull on Sept 11, 2024 7:14:30 GMT
Cracking news Rob 👍
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Post by plainmoorpete on Sept 11, 2024 13:17:44 GMT
YELLOW ARMY SHARE ISSUE - HALF-TIME UPDATE By way of an example, if the current sum of £161,531 raised was used in its’ entirety to purchase a stake in Torquay United Association Football Club Ltd ("the club"), TUST would own 23.75% of the club when coupled with the £50,000 already subscribed through the TUST Forever Yellow Fund. By my estimation, extrapolating from TUST paid/pay £211,531 for a 23.75% share in the club, that values Torquay United AFC at @ £891,408. For comparison when Mike Bateson put the club up for sale in 2006 he said he was looking for £1 million. |
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Rags
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Post by Rags on Sept 11, 2024 16:44:50 GMT
By my estimation, extrapolating from TUST paid/pay £211,531 for a 23.75% share in the club, that values Torquay United AFC at @ £891,408. For comparison when Mike Bateson put the club up for sale in 2006 he said he was looking for £1 million. There are a number of ways to valuate a football club apart from the Market Capitalisation method you are using, which is a perfectly valid way of valuing a football club. One method used to valuate Premier Football Clubs is the Markham Multivariate Model which is a bit complicated and needs digging around a club's annual accounts for answers. Now, obviously, we are not a Premier League football club, but by using the same model we can get at a valuation that is significantly more than £891k. The formula (wake up!!  ) is: Revenue + Net Assets multiplied by (Net Profit + Revenue) ÷ Revenue multiplied by Stadium Utilisation % divided by Wages to Revenue % equals ValuationAccording to the Fan's Forum, the budgeted revenue for 2024 is £2,166,000 with wages of £525,000. So a wages to revenue ratio of 24%. We can see from the latest accounts that Net Liabilities amounted to £5,310,182, but hold on - that includes the loans from RSL totalling £5,282,400. If we ignore those as no longer due then we could, if we wanted to, reduce Net liabilities to £27,782, or Net Assets as -£27,782. We made a loss last season of £1,163,124. I don't know exactly what Plainmoor's current capacity is: maybe 6,500. We are currently averaging attendances of 3438 which is a significant increase on last season's (league) average of 2446. We probably won't continue to average that many, or maybe we will. If we set a mid-point between last season's and this season so far of 2,942, that gives us a stadium utilisation ratio (average attendance to capacity) of 45%. So we get*: £2,166,000 - £27,782 = £2,138,218 multiplied by (£1,163,124 + 2,166,000) ÷ 2,166,000 = 46% multiplied by 45% divided by £525,000 to £2,166,000 = 24% equals Valuation or £2,138,218 x 46% = £990,012 x 45% = £448,147 ÷ 24% = £1,848,927 This is all theory as a football club, just like any product, is only worth what somebody is willing to pay for it but you can see that our little football club is fairly valuable, even in its current distressed state. It will be worth a lot more in 12 months time when the Bryn Consortium have replaced the negative elements of the club with more positive ones. And if you are suffering from insomnia, just put "Markham Multivariate Model" in the search engine of your choice and you will be snoring contentedly within minutes!  *I'm sure my learned colleague Mr Gibbes is better qualified to correct some of these figures if I've made incorrect assumptions with any of them. |
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rjdgull
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Post by rjdgull on Sept 11, 2024 17:52:13 GMT
YELLOW ARMY SHARE ISSUE - HALF-TIME UPDATE By way of an example, if the current sum of £161,531 raised was used in its’ entirety to purchase a stake in Torquay United Association Football Club Ltd ("the club"), TUST would own 23.75% of the club when coupled with the £50,000 already subscribed through the TUST Forever Yellow Fund. By my estimation, extrapolating from TUST paid/pay £211,531 for a 23.75% share in the club, that values Torquay United AFC at @ £891,408. For comparison when Mike Bateson put the club up for sale in 2006 he said he was looking for £1 million. See what you have done there. Slightly different valuation method used though as it is more about how much it cost to save the club. So 93% of the club in distress was purchased for £1 with a shed load of liabilities and the initial investment by Bryn was to clear the debt and to get to the start of the season. The share price for TUST was calculated by dividing this investment by the number of shares that were sold by Osborne to Bryn, so in effect TUST are paying the exact same price per share that Bryn have so far paid for theirs. New shares are being issued so the more TUST buy, the percentage that each share is worth diminishes. So using round figures for illustrative purposes. Club has £100 of shares, of which Bryn own £90 or 90%. TUST buy £20 of new shares increases the club share total to £120. TUST therefore own 16.66% (20/120) Bryn now hold 75% (90/120) and historic shareholders 8.33% (10/120). |
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petef
Match Room Manager
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Post by petef on Sept 12, 2024 12:10:25 GMT
What an incredible and rather unexpected response.
Absolutely delighted and a true reflection that the fan base really care about the football club.
Can only be a massive incentive for the Bryn consortium.
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rjdgull
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Post by rjdgull on Sept 23, 2024 22:46:11 GMT
The share issues ends this Friday at 11:59pm and very pleased to see that donations are still coming in. Up to £171266 on the crowd funder page at the time of writing with just over £10k having been donated separately. Would be great to get up to 200k in a final push which with the £50,000 yellow army fund would get us to the quarter million mark. Another milestone reached in that TUST will have over a quarter share in the ownership of the club as well.
Thank you to all those that have donated, it is so much needed to clear up the mess left behind by the previous ownership who did not see the value in Plainmoor football ground.
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rjdgull
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Post by rjdgull on Sept 26, 2024 6:01:19 GMT
Now up to 192k with 2 days left! 😊
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rjdgull
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Post by rjdgull on Sept 27, 2024 7:30:06 GMT
Final day today - 190k in the crowd funder account. Can we get that up to 200k by midnight?
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Post by unitedwestand on Sept 27, 2024 12:21:36 GMT
Afternoon all A quick update for you with less than 11 hours to go until the fundraising for the Yellow Army Share Issue comes to an end. As at 1pm we have a total of £191,750 pledged via the Crowdfunder page and a further £16,500 from offline donations (i.e. manual subscriptions) which gives a total of £208,250. Truly incredible response... For anyone else still looking to invest, please visit the Yellow Army Share Issue page at www.tust.co.uk/yellow-army-share-issue before midnight to subscribe. For those of you who have contributed so far, once again we can't thank you enough and are truly "blown away" by the response we have had. Best Wishes Matt Gorman TUST Board Member |
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rjdgull
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Post by rjdgull on Sept 28, 2024 12:02:05 GMT
Yellow Army Share Issue success!The TUST board are delighted to announce that the amazing sum of £205,501 has been raised through Crowdfunder for the Yellow Army Share Issue with a further £16.500 raised from direct payments received. There are a total of 534 investors of which 96 are Platinum Investors pledging £1,000 or more. TUST has seen its overall membership increase to 1,140. The total of £222,201 will be used in its entirety to buy shares in TUAFC with all the costs associated with running the share issue and collecting the investment sums being met from existing TUST funds. This, together with the £50,000 previously invested from TUST’s Forever Yellow Fund, means that TUST will have invested a total of £272,501 in the Club which will secure TUST a 28.6% shareholding in the Club and secure two places on the board forever. There is a considerable amount of work to be done by TUST volunteers now to reconcile the pledges, check TUST memberships and arrange the rewards for Gold and Platinum investors. We will be contacting all investors shortly to confirm their details including the names they wish to see on the 3rd shirt and the Investor Members Board’ to be displayed at Plainmoor. On behalf of the TUST board and the TUAFC directors, thank you once again to all who have purchased community shares. The Yellow Army have demonstrated what One Club United really looks like! JOIN HERE - www.tust.co.uk
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Jon
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Post by Jon on Sept 28, 2024 14:06:56 GMT
Fantastic response from our wonderful fans.
What a shame that the club has wasted the best part of ten years in the control of those determined to lock the fans out.
We cannot change the past, only learn from it.
A lot of hard work in the last six months to rescue the club, but a lot more hard work ahead to give our wonderful fans the club that they deserve.
Onwards and upwards.
Yellow Army!
A special shout out to Michael Goulbourne who stiffened the resolve of many of us to believe in our fans in the face of concerted anti-fan propaganda.
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Post by unitedwestand on Oct 2, 2024 14:30:44 GMT
Hi everyone A note to ask you to look out for an email from tustshares@gmail.com which has been sent today asking those of you who have participated in the Share Issue to respond as soon as possible with your choice of name(s) to be added to the official 3rd Shirt (due to be launched soon) and the Investor Member Board. We have sent out 490 emails this afternoon, so please watch out for yours as it could of course go into your "junk" or "spam" folder. We are keen to get the information back to the club as soon as possible in order that they can start the production of the 3rd shirt well before the end of the year to capture the Xmas present shopping period!! There were circa 44 applications where we are having to make contact with people separately due to some form of issue / discrepancy with the application so don't panic if you haven't received yours today. We hope to get the final emails out over the next 24 hours or so. For those of you who applied through a paper application form and did not provide an email address, we will be reverting back to good old fashioned ways of trying to get hold of you i.e. telephone or post! As you may appreciate, the tustshares@gmail.com inbox will be somewhat "busy" with responses so we would be grateful if you could keep any non-urgent queries to a minimum whilst we compile the information in respect of the shirt and members board. If you do raise a query, we will get back to you, but please bear with us as most of us are working full-time as well as trying to do this reconciliation exercise. Thanks Matt Gorman TUST Board Member |
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rjdgull
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Post by rjdgull on Oct 19, 2024 8:17:42 GMT
As the dust settles on this very successful venture and many thanks to the 534 investors who have made this happen,  worth looking at the change this 272k investment has made in the ownership of the club. Big in business (Bryn). 914190 shares. 66.30% Private holders. 69695 shares. 5.05% TUST. 395062 shares. 28.65% |
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) is:
worth looking at the change this 272k investment has made in the ownership of the club.