Pompey Supporters’ Trust keen on golden share idea

Pompey Supporters’ Trust are seeking to create a golden share in a bid to safeguard the future of the club.

Thursday, 8th October 2015, 7:00 am
Ashley Brown. Picture: Joe Pepler

Mark Trapani spoke at last night’s Trust AGM in the Victory Lounge at Fratton Park, over the desire to ensure the club never again falls into the wrong hands.

The Trust are now exploring the option of a golden share, which could be used to veto any potential sale should the group fall below a 10 per cent ownership stake in Pompey.

At present, the Trust possess a 48.8 per cent stake.

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But the Trust are eager to protect their influence.

Trapani, who sits on the Trust and club boards, said: ‘While it would be extremely nice if the PST had 51 per cent, the committee accepts that it’s unrealistic to expect this.

‘The only danger that exists is if the PST shareholding should ever fall below 10 per cent.

‘The golden share is there to give the society a veto over the sale of the club to a single buyer, preserve Fratton Park and to protect mortgaging the clubs assets or future income.

‘This must not stop further investement and must not shackle the club to preclude some option in the future that 90 per cent of the shareholders may be happy to accept.

‘Work is not totally complete and on October 26, we are due to meet in London and we expect to be in a position to present a paper to the PST shareholders, PCFC board and the presidents in early 2016 to consider.’

Around 150 people attended last night’s event, which was chaired by Ashley Brown.

Pompey chairman Iain McInnes and chief executive Mark Catlin were among those in attendance.

In an address, Catlin told those present the club expects to break even in their accounts up to June 2015.