Blues set to launch new share issue

IPSWICH Town directors are today set to approve the launch of a new share issue.Board members are due to meet this morning to finalise the plans, set to be officially announced later this week.

IPSWICH Town directors are today set to approve the launch of a new share issue.

Board members are due to meet this morning to finalise the plans, set to be officially announced later this week.

New shares are likely to be made available to existing shareholders, season ticket holders and club members in a bid to raise funds for squad strengthening.

Representatives of the Ipswich Town Independent Supporters Trust, who are due to attend the meeting, have called on the club to include a share-save scheme in their plans.


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The Trust has pointed to a similar scheme run by the Glasgow Rangers Supporters Trust, offering fans the chance to invest £10 a month into a savings scheme.

Supporters who save £10 a month for a period of five years can expect to receive around £600 of Rangers shares.

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Carl Day, chairman of the trust, said: "The Rangers Supporters Trust initiative is something we wholeheartedly support and we would like to see a similar scheme in operation at Portman Road.

"This is a great way of allowing supporters to save over time and buy shares in their football club, allowing them to have a greater say and raise much-needed funds for their club at the same time."

The trust ran a share-save scheme when the club made its public offer of shares three years ago, which enabled more than 100 supporters to buy part of the club.

This scheme saw the trust purchase the shares up front and then sell them on to supporters once they had saved £100.

A spokesman for Ipswich Town declined to comment on the share issue ahead of this morning's board meeting.

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