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The following is a summary of the presentation given at the Weavers on Tuesday 2nd May 2006
We do hope it answers your questions, if not contact any HTST Committee member or the club on 01422 341 222
“SHAYMEN 500”
Working together, towards a positive,
secure future for Halifax Town AFC
We are looking for 500 individuals, companies or groups of supporters who are prepared to invest £500 in return for 1,000 shares in Halifax Town AFC Ltd.
In addition to the 1,000 shares in Halifax Town AFC
Other benefits include……..
Reserved seating in the new East Stand
Shaymen 500 members will be able to identify a seat location of their choice as and when the East stand is completed.
Also their individual name (or group name) will be entered on a “Roll of Honour” which will be displayed in a prominent position within the completed East stand complex.
Discounted Season Tickets
Shaymen 500 members will be offered for a period of 5 years discounted season tickets, this offer will be at the same level of discount as offered to current season ticket holders who have to purchase their tickets by a certain date. The perceived additional benefit for members will be that the offer would be available up to the official start of any given season.
Free match programme
Shaymen 500 members would receive (by the evening, prior to each home match) an “E – Programme” which would be sent to an email address of their choice.
Membership to exclusive lounge in the stand
Shaymen 500 members can be assured that there will be a dedicated exclusive area made available to them on completion of the East stand facilities.
Regular email updates on club news
Shaymen 500 members will receive the HTAFC official “E news letter”
Advance notification of club related events
(e.g. Sportsman Dinners) and discount on ticket prices
For a 5 Year period Shaymen 500 members would be offered an appropriate discount (e.g. 10% on Sportsman dinners) dependent on the type of event .
Share Certificate
All paid up share certificates will be issued/presented at an informal evening event to be held before the start of the 2006/07 season (July / August 2006)
Membership of the Halifax Town Supporters’ Trust
Shaymen 500 members will be offered I year’s standard membership
FUTURE BENEFITS
Members will receive benefits in the future as and when negotiated with local suppliers and businesses, these might include for example, discounts at restaurants and local stores.
MANAGEMENT OF THE SCHEME
The scheme will be managed by the Halifax Town Supporters’ Trust and the monies raised will be placed in a dedicated bank account which will be administered by the Halifax Town Supporters’ Trust.
There will be complete transparency in how the funds raised will be used.
The priorities are to improve the clubs financial situation including clearing the CVA as a first priority.
PAYMENT METHODS
Cash or Cheque for the full amount – payable to “Halifax Town Supporters’ Trust”
Standing Order/Direct Debit - £100 @ month for 5 months
Standing Order/Direct Debit - £50 @ month for 10 months
S/O or D/D – First payment of £60 followed by £40 @ month for 11 months
BANKING DETAILS
Royal Bank of Scotland
20, Commercial Street
Halifax, HX1 1TA
ACCOUNT NAME:
Halifax Town Supporters’ Trust
ACCOUNT NUMBER:
10129802
SORT CODE:
16 – 20 – 32
CONCERNS OF THE SUPPORTER
1. The “black hole” concerns:
Although the financial position of Halifax Town remains both delicate and difficult, it is true to say that great strides have been made over the last 12 to 18 months with regard to the stabilisation of the Club’s affairs. There remains a long way to go, but the success of the ”Shaymen 500” scheme is crucial to the medium to long term stability that we all wish for.
The Creditors’ Voluntary Arrangement (CVA) and monthly Ground Rental, together with the repayment of bank loans taken out by Directors is a burden that has proved difficult to overcome. The Directors do feel strongly, however, that the worst is behind us, and once these areas have been resolved a bright future awaits the Club.
2. Directors’ Loans:
Some loans have been taken out on behalf of the Football Club with high street banks in order to maintain liquidity. Other direct payments have been made to the club by Directors which are identified as Directors Loans to the company. At this time, none of the current Directors have intimated that they would wish to arbitrarily demand repayment of loans from the company. It would be expected, however, that remuneration would be given should substantial declared profits or surpluses be made in the future.
Another option would be for the issue of ordinary shares in the company to the individuals concerned.
3. Distribution of “Shaymen 500” monies:
The first priority of this initiative is to resolve the CVA issue, which is expected to cost in the region of £100,000.
The next £100,000 would be earmarked to guarantee the Stadium Rental until such time as the East Stand was completed and generating sufficient income to be self-financing, and to resolve some of the more pressing creditors of the Club.
If the full amount of £250,000 is raised, there will be a sinking fund created of £50,000 which will be managed jointly by the Trust and the Football Club.
4. What of the small investor:
This campaign is not about exclusion, and anyone can purchase shares in Halifax Town afc. Indeed the Club are continually attempting to encourage outside investment whether this be from individuals or corporate organisations. This was the very reason that the number of available shares in the company was increased at the recent Annual General Meeting.
Groups of supporters are encouraged to invest in this scheme, and will receive a proportion of the full 500 club membership benefits, as well as their individual Share Certificate.
5. Shay Builder Premier Bond Club:
Some ten or more years ago this scheme was instigated in a similar fashion to this one, and was taken up by 30+ people. Most of these (if not all), the Football Club and Supporters Trust would say they have had value for money.
It is therefore proposed that after this current season the residual benefits will be superseded by the “Shaymen 500” offer.
The Shay Builder investors will have their own Roll of Honour similar to that of the new 500 members.
A letter will be going out to all Shay Builder investors detailing the changes, explaining the way forward and encouraging them to join the Shaymen 500.
6. The trading deficit:
The current trading deficit of Halifax Town AFC is in the region of £150,000 per annum. In essence this amount is made up as follows:
CVA payments £4,000/month 48,000
Stadium Rental £4,000/month 48,000
Outstanding bank loans (see Item 2) £2,500/month 30,000
Commercial underperformance/Attendances 50,000
Total 176,000
It can be seen from these figures that once the items identified in item 3 above have been resolved the company can readily achieve breakeven, and potentially begin to generate profits. This is not a foregone conclusion, however, and much hard work remains to take Halifax Town to the next level.
7. Help us out we’re skint! :
Halifax Town has always been skint, and at this time it still is. The difference is that with the success of this scheme, the major items of indebtedness can be dealt with and a platform for the future created.
The CVA has meant that financial management is a priority. It is not the way that the Club is currently being managed that has generated the problem, but the current Board of Directors and the HTST Board are of a mind to resolve the problems inherited and move this club forward with purpose and determination.
8. Will the supporters be asked again? :
What this scheme will not do, is guarantee success for Halifax Town!
What it will do, is allow Halifax Town to compete on a level playing field with other clubs, and to continue to generate meaningful and mutually beneficial relationships with many of the other businesses in Calderdale and beyond. The sort of relationships that lead to substantial sponsorship deals and reciprocal arrangements.
It will also enable the Club to continue its extensive programme of social inclusion through the Community Football Initiative (CFI,)and develop future players through the Academy based at Calderdale College.
9. Should the Club be run by its supporters? :
It is difficult to assess the long term potential of supporter run clubs. It is also the case that having a lifelong passion for a particular football club is not necessarily the best qualification for managing its affairs. Halifax Town afc has representation from its supporters at Board level, and it is envisaged that the involvement of its supporters at all levels will continue and expand. The knowledge, experience and expertise to successfully run a football club are difficult to find, but the Club will continue to seek people out who are able to bring such attributes to the business
10. What if less than 500 join the scheme? :
It is sincerely hoped that this campaign is successful in generating the number of investors originally envisaged. Should this not happen, however, the removal of the straightjacket that is the CVA is the first priority. If numbers are insufficient to undertake this exercise, the campaign will be reviewed and a way forward agreed between the Club, HTST, HTSC and Shaymen Down South.
“Over many years Halifax Town AFC has stumbled from one disappointment to the next. Now we have an opportunity to rid the Club of its historical restrictions and forge a new future. In conjunction with the various supporters’ organisations we feel that this campaign can take Halifax Town to the next level”.
- Geoff Ralph – Chairman of Halifax Town
“Having struggled to build a squad capable of competing for honours in the Nationwide Conference League, myself and my coaching staff would welcome the opportunity to take Halifax Town AFC back into the Football League. In order to make that next leap forward we need to be on a level playing field, and I feel that this campaign can help us achieve parity with other Clubs both on and off the field”.
- Chris Wilder – Manager of Halifax Town
“Seize the moment with the Trust to shape the future of Halifax Town”
- Pam Burton – Chair of Halifax Town Supporters’ Trust
“With assistance, the Shaymen are going places – climb aboard the express today!”
- Kit Walton – Chair of Halifax Town Supporters Club
“A fantastic opportunity to play a part in securing a prosperous future for Halifax Town”. - Simon Denton – Shaymen Down South
We do hope this summary of the presentation answers your questions, if not contact any HTST Committee member or the club on 01422 341 222
The club, HTST, HTSC and SDS hope you can support this campaign.
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NEXT FIXTURE
Society Board Meeting
VENUE
Burnley Road, Halifax
DATE
14 May 2007 @ 7.30 pm
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