SHAREHOLDERS URGED TO LEAVE DIVIDEND IN CLUB
Shareholders urged to leave Stags buyout dividend in the club
CHAD.co.uk, 27 January 2009
By Tim Morriss
MANSFIELD Town's minority shareholders have landed a £4.44 per share dividend over the sale of the Stags – but have been urged to leave the money in the football club.
The club's new owners are appealing to the shareholders to donate their dividends towards taking the Stags into a new era.
Full story at http://www.chad.co.uk/stags/STAGS-TAKEOVER-Mansfield-Town-FC.4229840.jp
The owners, three Mansfield businessmen Andy Perry, Steve Middleton and Andy Saunders, have this week written to all shareholders explaining the dividend from their buyout of the club from controversial former owner Keith Haslam.
Chairman Perry said: "I would like to invite you to consider waiving your right to this dividend and demonstrate again your faithful support of the club . . . this will only apply to this specific dividend.
"All dividend payments that are waived will be used exclusively to support improving the playing staff at the club in the current transfer window.
"Every little bit helps. We have had good support this season and we are really pleased with that.
"But obviously this shareholding dividend will potentially see nearly £60,000 go out of the football club.
"This was all part of the sale agreement and we have always been geared up for it. But the more that can stop in the club it can help towards strengthening the squad still.
"We have been doing that already but there is more to do both now and during the summer.
"We would keep this money separate so shareholders can see where it has gone.
"I am realistic and mindful that some people with more shares in this current climate may want to take the money and that is fine with me. I am a caring chairman.
"I am just trying to do my best for Mansfield Town Football Club and any help we can get is very welcome."
Haslam agreed to sell the Stags to the 'Three Amigos' in the summer and the sale was finally completed shortly before Christmas.
A dividend was declared after land owned by the football club – including the Field Mill stadium and the old training pitch area alongside the ground – was retained by Haslam.
There are three kinds of MTFC share - ordinary, community and A shares. The three club owners have 97 per cent of the ordinary (voting) shares while Stags Fans United have 3.3 per cent of the Community Shares.
On this dividend there are 130 shareholders with amounts ranging from one share each to 1,000 shares each, each share netting £4.44.
The largest minority shareholding is the 3.3% held by the Stags Fans United Supporters Trust (formerly TEAM Mansfield (TM) Supporters Trust) and it is believed to be in negotiations with the club over investing its dividend.
The Trust wants to invest upto £60,000 in the Stags in return for the chance to buy more shares and have a fans representative in the boardroom.
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