Need to raise £2,500 in Community Shares

super_les_mcjannet · Post by **super_les_mcjannet** » Sat Jul 30, 2016 8:33 pm

Just had an email below, so anyone who hasn't had chance to pay or missed out needs to get in touch with DFCSG asap.

DFCSG Chair wrote:Dear Investor,

Thank you very much for honouring your pledge to buy Community Shares. We are expecting to issue your certificate sometime in August.
As a result of the time that has lapsed since we first exceeded our target of pledges of £100,000, understandably the personal circumstances of some of the participants has changed and consequently to date we have only managed to collect payments totalling £97,500.

The terms of the Community Share offer requires that we need to raise the full £100,000 in order to formally complete the process and issue the Community Share certificates to investors. Indeed Darlington Football Club is also relying on us contributing the full amount towards the development at Blackwell Meadows.

Under the circumstances, we thought the most pragmatic way forward to fully reach the target of £100,000 was to re-open the scheme for a limited period until Monday 8 August in order raise the required balance of £2,500. Hopefully this will encourage some of the current pledgers that so far haven’t responded to our requests to fulfil their pledges. It will also provide an opportunity for those fans that were disappointed that they didn’t manage to submit their pledges in time before the initial target had been reached.

Thank you for your support.

Wayne Raper
Chair DFCSG

Yarblockos · Post by **Yarblockos** » Sun Jul 31, 2016 12:20 pm

They've reopened the pitch until the 8th August.

http://fundraising.darlingtonfcsupportersgroup.org/

Currently standing at £107,010. Which unfortunately gives us no idea whatsoever as to how much of the £2500 we still need to raise. Unless that means we have surpassed it?

Surprised nobody seems to be talking about this given the usual interest in fundraising.

eek · Post by **eek** » Sun Jul 31, 2016 1:00 pm

Well the amount required now is at most £2200....

Rather glad as I missed out last time round...

Neil Johnson · Post by **Neil Johnson** » Sun Jul 31, 2016 2:07 pm

eek wrote:Well the amount required now is at most £2200....

Rather glad as I missed out last time round...

Well done!

Monthly paid may contribute after pay banked in early August.

Hope if the fundraising goes over the top the club uses the extra effectively.

Yarblockos · Post by **Yarblockos** » Sun Jul 31, 2016 2:51 pm

eek wrote:Well the amount required now is at most £2200....

Rather glad as I missed out last time round...

Awesome.

Anyone know what the total was when it opened?

SalopQuaker · Post by **SalopQuaker** » Mon Aug 01, 2016 6:49 pm

Now up to £115,710 that's £8700 in since re-opening the offer. Awesome effort by Darlo fans.... Once again

poppyfield · Post by **poppyfield** » Mon Aug 01, 2016 8:56 pm

Is it me, have I got this all wrong, I understand that we came up a bit short in getting the pledges in to the tune of 2500, so we have reopened the share issue to get us across the line, so in the last couple of days 8700 has now been pledged which is fantastic, so with another 6 days to go the total is anybody's guess .
Am I right in assuming that all the extra monies when collected will go to the fund or just 2500 will be collected to bring us up to the original total of 100K? As I seem to remember (could be wrong) that we had to stick to the total of 100K, can someone with a better knowledge of this than me explain

liddle_4_ever · Post by **liddle_4_ever** » Mon Aug 01, 2016 9:09 pm

The "investments" can claim interest, because of this the club closed the initial investment window when the donations were at approx £106k. I presume the £2.5k needed meant we collected £97.5k of the £106k initially offered. I wouldn't be surprised if the club allowed an additional £8.5k to be donated during this window which would take us back to £106k.

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dfc4me · Post by **dfc4me** » Mon Aug 01, 2016 9:11 pm

Think last time we were told that we could increase the target but if we did not reach the new target we would lose the whole lot so decided not to risk it. Maybe, with interest still high, would it be worth starting off a new pitch with a lower total eg £25/£30 K with a specific aim such as extra seats.

QuakerPete · Post by **QuakerPete** » Mon Aug 01, 2016 9:46 pm

This is really confusing, has the target been reached and some? If so, can that extra investment be retained? If so, why couldn't it be done in the first instance? Have we missed a trick here?

Darlofan97 · Post by **Darlofan97** » Tue Aug 02, 2016 8:56 am

It's Catch 22 for the Supporters Group though isn't it.

As far as I understand it, had the Supporters Group wanted to collect more than the original target of £100k, then they would have had to set a new target of say hypothetically £125k and contacted all existing pledgees to see if they still wanted to go ahead with their pledge. This would have to be done as technically the terms of the pitch would have changed.

This would have been a risk as, as we saw with the DFC500 Club in April 2015, some pledgees may have decided to drop out once they saw that the original target had been hit. You're then on the back-foot before you even try to hit the new, much larger, target.

The Supporters Group have clearly, and in my opinion rightly, played it safe by just asking for the £2.5k to top it up to the £100k. Any more and the terms of the pitch would have changed and pledgees would have to be contacted.

That isn't to say that the Supporters Group couldn't roll out another, new, pitch after this one however. There is clearly a surplus demand for shares, and it looks like quite a viable way of raising capital. Another share pitch could be rolled out and any capital could be ear-marked for the future expansion of the Blackwell Meadows site. Just an idea, not sure how feasible it is.

shawry · Post by **shawry** » Tue Aug 02, 2016 10:26 am

Have to remember that these shares gain interest, so we cant just keep issuing shares if demand is there, as it will impact on the clubs finances.

lo36789 · Post by **lo36789** » Tue Aug 02, 2016 10:37 am

shawry wrote:Have to remember that these shares gain interest, so we cant just keep issuing shares if demand is there, as it will impact on the clubs finances.

An impact but given you have to be a member of the DFCSG and keep paying your annual subscription there I would expect this stuff is pretty self sustaining.

shawry · Post by **shawry** » Tue Aug 02, 2016 10:39 am

lo36789 wrote:
shawry wrote:Have to remember that these shares gain interest, so we cant just keep issuing shares if demand is there, as it will impact on the clubs finances.
An impact but given you have to be a member of the DFCSG and keep paying your annual subscription there I would expect this stuff is pretty self sustaining.

Isnt it the club that pays the interest though, rather than the DFCSG?

Sorry, I'm not up on all the facts, just remembered that the interest was a point raised for not allowing the last one to continue raising funds too.

lo36789 · Post by **lo36789** » Tue Aug 02, 2016 1:13 pm

I think DFCSG will be increasing their shareholding by using the money received...it's a different entity but beyond operating costs DFCSG revenue goes to the club.

princes town · Post by **princes town** » Tue Aug 02, 2016 11:05 pm

SalopQuaker wrote:Now up to £115,710 that's £8700 in since re-opening the offer. Awesome effort by Darlo fans.... Once again

A great effort I agree.

Neil Johnson · Post by **Neil Johnson** » Wed Aug 03, 2016 4:30 pm

princes town wrote:
SalopQuaker wrote:Now up to £115,710 that's £8700 in since re-opening the offer. Awesome effort by Darlo fans.... Once again
A great effort I agree.

Where does the total figure come from?

Yarblockos · Post by **Yarblockos** » Wed Aug 03, 2016 9:44 pm

Each time we open this fundraiser we seem to keep raising more money than we can legally take.

I wonder if we could just open a fundraiser for a limited period with no limits on it, no shares or interest available, just a pure donation? People seem to get mobilised by this short term stuff more than they do long term fundraising.

Darlofan97 · Post by **Darlofan97** » Thu Aug 04, 2016 8:29 am

Yarblockos wrote:Each time we open this fundraiser we seem to keep raising more money than we can legally take.

I wonder if we could just open a fundraiser for a limited period with no limits on it, no shares or interest available, just a pure donation? People seem to get mobilised by this short term stuff more than they do long term fundraising.

But then that does slightly defeat the object of just how successful these previous fundraising pitches have been. There's generally always been shares, gifts, benefits or interest available. There was with the Squareknot pitch, the DFC500 Club Offer and then this Community Share Scheme.

A general fundraising pot probably wouldn't be as successful as it's 'general' and it may not be necessarily contributing to something tangible.

That is why this Community Share Scheme has been so successful. It was contributing to something tangible and investors were given a 'return' on their investment.

joejaques · Post by **joejaques** » Thu Aug 04, 2016 10:42 am

If you want a general fundraising pot, the "Back To Darlo" a/c is always available. I stick a tenner in it whenever I win a few quid on the nags (and I'm sober enough to remember).

Yarblockos · Post by **Yarblockos** » Thu Aug 04, 2016 12:09 pm

joejaques wrote:If you want a general fundraising pot, the "Back To Darlo" a/c is always available. I stick a tenner in it whenever I win a few quid on the nags (and I'm sober enough to remember).

Yes, but what I'm saying is that the general fundraising never raises anywhere near as much as these short term initiatives. If we set up a initiative to raise £50,000 in a month through donations, I bet we could do it. You'd need a specific reason of course, whether it be for more seats or new terracing etc.

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