Iron Trust confirm purchase of first £100 worth of Scunthorpe United shares
Scunthorpe United's Supporters Trust has taken a significant step forward with the completion of the purchase of their first £100 worth of shares.
The shareholding means The Iron Trust, which was launched in the summer with the aim of giving supporters a greater say in the way the club is run, will be present at the club's AGM, which is likely to be staged in December.
Now closing in on 150 members, the Trust have already applied for a further £400 worth of shares and expect to be at £1,000 'very soon'.
"The first £100 purchase is a significant step, as this ensures the Trust will receive the club's accounts and be able to represent members at the forthcoming AGM and report back," explained Luke Thornhill, a member of the Trust's interim board
"The application to increase this shareholding fivefold, with an aim of getting to £1,000 worth of shares as soon as possible, should also be seen as a statement of intent that we are serious about giving supporters insight into the club but also what benefits we can bring the club.
"Over the long-term our shareholding could grow into a significant investment on behalf of fans.
"With a heavy loss due to be announced for last season by the football club, and similar problems ahead for this season, all against the backdrop of uncertainty over the future ownership of the football club, it has never been more important for fans to be kept informed about how the club is run and what its prospects are.
“The Trust wants to be a long-term partner of the football club, helping bring in some finances but more importantly bringing a culture of openness and co-operation between supporters and those who make decisions on how the club is run.”
The Iron's record scorer Steve Cammack is the latest former player to sign up the Trust, while one-time director Simon Elliott is now also a member.
Cammack, who netted 110 times in 245 appearances in claret and blue, was back at Glanford Park to speak to fans prior to the 1-1 draw with Brentford a fortnight ago.
“Anything the supporters trust can do can only be a benefit to the football club,” he said.