Dale Trust to become second largest shareholder of Rochdale AFC with 50,000 share purchase
Date published: 21 July 2021
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The Dale Trust is to become the second largest shareholder of Rochdale AFC after striking a deal to purchase a further 50,000 shares in the club.
The deal to purchase the shares has been struck with Andrew Kelly, a director at RAFC since 2006, and will be funded using existing trust funds as well as an “incredibly significant and generous” donation from the money left in the will of Dale superfan, David Clough.
Members of the trust gave their backing over the weekend where 100% of votes supported the trust using funds to purchase additional shares. The money received by Mr Kelly, who served as interim chairman of the board for four months after Andrew Kilpatrick resigned, will be put back into the club.
The Dale Trust will hold 62,625 shares in Rochdale AFC, equating to around 12.5% of the club.
The trust will be balloting all members before any AGM/EGM held in future by the football club, and will be voting in the way that members dictate. The trust is looking to get this built into its own constitution when its hosts its own AGM, to ensure that any vote undertaken by the trust has to be backed by the members.
Trust chair Colin Cavanah said: “Yet again, it is truly remarkable that David Clough is still proving to make such a massive difference to the future of this football club. This would not have been possible without the donation from his estate.
“We are thankful to for Andrew Kelly for his part in this deal. The last few weeks have been extremely uncomfortable for Dale supporters with the uncertainty surrounding the ownership of the club. This deal is another important step to making sure this club is safe from any hostile takeover.”
Newly-appointed trust director, Murray Knight stated: “In receiving the donation, it is vital that we do justice to David Clough by representing the supporters to the best of our abilities for many years to come.”
Rochdale AFC has been contacted for comment.
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