Loan Note Scheme

The Bromsgrove Rovers Supporters Society Loan Capital Fund will be a key part of our fundraising efforts. Open only to BRSS members we are issuing Loan Notes, the proceeds of which will be used to invest in Bromsgrove Rovers Football Club through the acquisition of its share capital. The following is an overview. We have also provided some Questions and Answers. In the hope of raising the maximum amount of funds, the minimum level of subscription to the Loan Note scheme is £100; larger subscriptions (in multiples of £100) are also of course very welcome.

Funds raised from the issue of Loan Notes will initially be held in a separate bank account until opportunities to invest in the Club become available. Such investment will only be made if a majority of Loan Note holders approve in general meeting.

For the purposes of this meeting, a Noteholder will have one vote for a holding of £100 or more Loan Notes; two votes for a holding of £2600 or more; three votes for a holding of £5100 or more; It should be noted that no interest will be paid on the Loan Notes.

Once the funds generated by the Loan Fund scheme have been invested in Bromsgrove Rovers Football Club, there may be procedures whereby the Loans may be repaid in future.

In any event, the Society will never be obliged to repay any Loans. If we go ahead and invest in the Club, the likelihood is that you will be unable to get your investment back, at least for the foreseeable future.

While £100 is the minimum figure, we hope that many fans will contribute more than this to the Loan Fund. The best incentive, of course, is the more you contribute the bigger investment we, the fans, can have in our football club. If you can afford to contribute more than £100, we urge you to do so. Alternatively you can club together with others to raise £100, although only one person can be registered as the Loan Noteholder. A standing order scheme will be offered to allow supporters to make regular contributions towards their investment figure. A Loan Note will be issued when the agreed figure is reached.

A copy of the terms and conditions will be sent to each Loan Note subscriber, together with their Loan Note certificate. It is vital that the money is raised quickly. Please do not delay in purchasing your Loan Note: your coming forward will help persuade others to do the same and it is crucial that we will build up an early momentum in the fund-raising. The aim is to raise the bulk of our funds within the first few months.

Best wishes

BRSS Board