Community Share Offer 14

COMMUNITY SHARE OFFER 14

6 a word from the TRUST CONTENTS CHAIRMAN 03 A WORD FROM THE 12 OPPORTUNITIES TO TRUST CHAIRMAN GROW OUR INCOME A word from the Trust chairman on The primary aim of Wycombe Wanderers Trust the importance of community shares is to safeguard the heritage of the Football Club to the Club. and to maintain its ownership within the community for future generations. Since acquiring the Club in June 2012, our focus WHY A TRUST SHARE QUESTIONS & has been on ensuring financial survival and this 04 14 has been achieved as a result of significant com- OFFER IS SO ANSWERS mitment from the Board and a number of other IMPORTANT dedicated fans. An outline of the community shares scheme and its purpose. In the current year, we are consolidating our financial position by working with our trade partners, ensuring our customers have a positive and consistent experience on match and non HOW WILL THIS MAKE THE SHARE ISSUE match days and planning for carefully managed 06 16 A detailed look at the offer and revenue growth. We see this growth leading to THE DIFFERENCE how you can buy your shares the Club being profitable in 2016/17, under- We look at the impact community pinned by the raising of working capital through today! a Community Benefit Share Scheme, open to all shares could have on the Club. current and future members of the Trust. We hope you’ll continue to support us on this exciting journey, so that the club can remain owned by the community for future generations. 08 WWFC UNDER TRUST 20 APPLICATION FORMS & OWNERSHIP MEMBERSHIP DETAILS An overview of the financial performance of the Club under Trevor Stroud supporter-ownership. Chairman, Wycombe Wanderers Trust

10 PROJECTED FINANCIAL PERFORMANCE 14/15 2 Wycombe Wanderers Trust Share Offer / February, 2015 Wycombe Wanderers Trust Share Offer / February, 2015 3 e believe that community ownership is the model Club and Frank Adams Legacy Ltd. Both subsidiary boards are most likely to bring the Club sustainable success, responsible for the day to day operation of their respective Wand by opening up the ownership to more peo- businesses. The WWT Board then reports back to the members ple it will give us a competitive advantage over our rivals. who are ultimately the owners of the Club. Membership of WWT is affordable and every member has an equal vote. The This community share offer is a key part of that journey. With a WWT Board are keen to attract new members, and welcome £500k injection of money we can make progress much faster, more joint owners of our great Club. dealing with the legacy issues we inherited and putting us on the front foot to make better use of the fantastic facility WWT acquires the Club for the at Adams Park. Raising more than that will give us the chance community to spend money on opportunities that either reduce our costs or where there is a clear business case, to raise income. When WWT purchased the full voting shares in Wycombe Wanderers Football Club Ltd from Steve Hayes, the long term BACKGROUND debt was negotiated down to under £2 million, with the majority being owed to the former owner.

Wycombe Wanderers Trust (WWT) WWT took the decision to protect the assets of the Club by immediately transferring Adams Park and the training ground WWT was formed from the merger, in 2008, of Wycombe Wan- into a new company called Frank Adams Legacy Limited derers Supporters Trust and Wycombe Wanderers Founders (FALL). The plan is for the Club to pay rent to FALL who will Trust, with the express purpose of representing the views of then repay the long term creditors within a long term plan. supporters and protecting the long term interests of the Club. FALL also took over the responsibility of the grant from the WWT is a membership organisation that currently has 960 Football Foundation which will be written down over the next members who each have an equal vote and pay a small an- 30 years. nual membership fee.

In June 2012, WWT acquired full voting control of the Football Club, as well as Adams Park and the training ground at Marlow Since taking over the past 2 years have Road. WWT is a registered Society under the Co-operative and been very tough both on and off the Community Benefit Societies Act 2014. pitch. WWT inherited a Club that was why a trust living well beyond its means and was The WWT members elect an eleven member Trust Board who in severe danger of being put into ad- oversees the Trust’s two subsidiaries: WWFC Ltd - The Football ministration. As is well documented; the Board of WWT considered put- share offer is ting outside offers of investment to SHARE OFFER KEY the membership, which would have AIMS: changed the ownership structure of the Club. Whilst these didn’t materi- To provide a capital injection to re-finance alise, the process did spark a renewed so important sense of excitement and interest in the the Club. community owning the Club. Now fol- Wycombe Wanderers Football Club is an lowing consultation with supporters it became clear that owning the Club To provide resoures to improve the important part of the history and fabric remains an important ambition and profitability of the business. people are willing to invest to maintain of our local community. Now through the and fulfil that ambition. vehicle of Wycombe Wanderers Trust (WWT) Thankfully that momentum trans- To improve the attraction of Adams Park the community owns the Club and we have the ferred to the pitch with a memorable as an alternative event venue. opportunity to grow and develop it for future final day victory at Torquay United al- lowing us to retain our Football League generations of Chairboys supporters. status - Unforgettable as it was, it has To widen the community ownership of provided a wakeup call to us all. the Football Club and its social benefit.

4 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 5 good relationship with very sup- WWFC and Wasps (whilst they were portive suppliers and lenders. tenants) used Adams Park less than 60 days last year. This leaves over Raising £500k+ 300 days for the facilities to earn additional income for the Club. Every penny that we raise over £500k will provide us with money to make We know there is interest in our fa- the best use of our prized asset, Ad- cilities as in the past year Adams Park ams Park. WWT believe that with some has hosted a range of activities in- investment in updating and tidying cluding school proms, multi-cultural the facility, we can turn Adams Park events, weddings, car boot sales and into a greater asset for the community cycle events, all achieved with lim- and revenue earner for the Club. In ited marketing resource. particular we would like to: We believe this is Position Adams Park as an attractive venue for the business vital for the Club to community which would require transform from a loss various upgrades to the common areas. making business to a business that is Enhance the match-day experience with improvements to food and profitable in 2016/17. beverage areas, hospitality offering, and toilet facilities. We have spent much of the last two years re-engag- ing with disgruntled customers and improving the service levels, but we believe much more can be done.

Modernise the changing facilities, improve the floodlights and replace the pitch to improve our chances of staging other events such as the Under 21 international games.

o whilst there are opportuni- how this will ties as money remains tight, it’s difficult to take advantage of them as we would like. We believe that by raising Ssome extra capital through community make a difference shares to invest in the business we can turn the £137k projected loss for this PROJECTED FINANCIAL POSITION season into a profit by the end of 2016/17. 2014/15 We believe that by raising extra capital through community shares to invest in the Club we can turn a business that traditionally loses money into one built on firm foundations Raising £500k

The Club is looking at approx. making a profit. Raising £500,000 will allow WWT to £3.9m income for the year, with a projected loss for the season of approximately maintain control of the Club for the Our vision is to ensure we have a solid base from which to develop the Club, with working capital to grow the Club off the supporters and community, pro- £137,000 including depreciation. pitch. Raising money through the Community Share Scheme will enable us to speed up the turnaround of the business, and viding a stable base for the Club to invest in opportunities. The quicker we can raise money the faster that turnaround will be. operate efficiently and maintain a

6 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 7 WYCOMBE WANDERERS FC UNDER TRUST OWNERSHIP

CURRENT PERFORMANCE FINANCIAL PERFORMANCE An important part of reducing the losses involved WWT un- SEASON 2014/15 coupling WWFC from the conjoined London Wasps Rugby SEASON 2012/13 Club. This process took longer than originally expected; resulting in WWT carrying excess costs than originally envis- So following two seasons of WWT hen WWT took control the Club was losing in aged. ownership at the end of April 2014 the excess of £1m per annum and had just been balance sheet of the Club is: relegated from League One. The working capi- The transition from League One to League Two also added tal that WWT had available for the takeover complications to the model and plan, making year on year Minus £1.5 million Wwas used to pay off the Club’s Bank as they withdrew their comparisons difficult and leaving the Club with some play- overdraft facility at the last minute. This prevented the ers and management on League One player contracts being Supported by:- Club from going into administration or potentially being £0.7 million paid for by League Two crowds. Finally reducing inherited Group loans: wound up completely but meant that whilst the balance £0.28 million non-football staff costs was more difficult and expensive than Personal loans: sheet looked healthy, WWT was suddenly short of working £0.5 million we envisaged with some not taking well to headcount reduc- Trade creditors: capital which it needed to help turn round the business. tions. WWFC managed to off-set some of these trading losses

with player sales, which contributed £237k, with the net re- The current balance sheet of WWT sult of the first season operating loss of £1.3m which owns the Club is:

We helped to manage this loss through a combination of Adams Park, professionally things: assessed at £7m WYCOMBE WANDERERS FC The sale and leaseback of the training ground to a fans’ Liabilities: £2.55m consortium gave us a capital injection of £350k. (Steve Hayes £1.6 million, Mrs Kane REVENUE BUDGET 2014/15 £0.2 million, others £0.75 million) A scheme called Chairboys Funders where 30 July 14 - June 15 Income (£) supporters have lent the Club a combined total of £450k. Match Receipts 720,000 PROJECTED INCOME FINANCIAL PERFORMANCE FL payments 610,000 SEASON 2013/14 SEASON 2014/15 Sponsorship / Advertising 567,100 The Club is looking at an increased F&B Total 1,049,900 n our second season we continued to reduce our costs income for 2014/15 of £3.9m resulting from £4.9m in 2012/13 to an estimated £4.4 million in in a projected loss of £137k including Wasps Rental 140,000 2013/14. We still relied on player sales to help stabilise depreciation Ithe Club, with £645k raised, £400,000 of which was used Facility / APSE / TV / Car Park 267,000 to pay down long term debt with Steve Hayes. The projected revenue budget is Playing Staff 255,000 broken down as follows : (Contractual payments) , Loans Unfortunately the poor results on the pitch did impact on our income, which came in lower than we budgeted for. Player Sales 300,000

With player sales we finished the season with a loss of £355k. Total 3,907,000

8 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 9 WASPS DEPARTURE FROM ADAMS PARK " Wasps' departure from Adams Park will have a big impact on our finances and may slow down PROJECTED FINANCIAL the road to recovery, but it will only slow it down and not stop it. The future of this football club relies on being self sufficient and sustainable, which will be achieved by improving our offering to supporters and local businesses and giving the town a "football club to be really proud of. PERFORMANCE ... CONTINUED ANDREW HOWARD, CHAIRMAN, WYCOMBE WANDERERS FOOTBALL CLUB

The 2014/15 revenue budget is based Attendance at match days STRATEGY on the following key assumptions: increasing by 21% season on season SEASON 2014/15 Remaining in League 2 this season Invoiced player sales of £300k Off the pitch - clear the past and together with £255k provision for prepare for the future Wasps relocating from Adams Park income from previous player by the end of 2014 contracts On the pitch – stay in League 2

STRATEGY SEASON 2015/16 HISTORIC, CURRENT AND PROJECTED In 2015/16 we are projecting an in- FINANCIAL PERFORMANCE crease in income to £3.8 million and a Operating loss of £229k including depreciation. Player sales Profit & Year Turnover Costs contribution Off the pitch – Stability (inc .other Loss operating income) On the pitch – A play-off position 2010/11 £4.7m £6.4m £510k -£1.2m * STRATEGY 2011/12 £4.8m £6.4m £982k - £593k SEASON 2016/17

For 2016/17 we are projecting our 2012/13 £3.4m £4.9m £237k - £1.3m income to increase to £4.7 million, with a projected profit of £10k including depreciation. 2013/14 £3.4m £4.4m £645k - £355k Off the pitch – Growth of the business 2014/15 £3.9m £4.1m £300k - £137k On the pitch – Promotion to 2015/16 £3.8m £4.03m £0k - £229k League 1 Using the capital raised from this com- 2016/17 £4.7m £4.69m £0k £10k munity share offer the Trust will be able to invest money into the Club and take advantage of the number of opportun- = before supporters’ trust ownership ties overleaf to turn these projections * into reality.

10 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 11

The Club is also lucky enough to have a Maintenance around the ground has Match day experience good number of rising youngsters un- been achieved with a mix of in-house der contract for which potential sale in- staff, local contractors and an army of Recent changes to the Club Board will come is a possibility. volunteers - this close season much give us a timely boost to the selling and more work has been done than last year, OPPORTUNTIES TO with the work cost significantly lower. commerciality of the match day expe- Broadening the ownership riences. Tapping into this knowledge This is a trend we hope to continue, and should allow the Club to give a day out we thank our volunteers for a sterling to compete with other local attractions. We also believe that by having more effort. Costs have been further con- members and investors in WWT, and trolled as we look for the Club to move GROW OUR INCOME therefore more joint owners of the to breakeven. We feel a good squad has The improvement in the mix of teams in ... FOR SEASON 2014/15 AND BEYOND League 2 gives us a better chance of ris- Club, it will open us up to more poten- been created despite a reduction in the ing crowd numbers, plus we do not en- tial business advantages of community total playing budget. ownership, which other Clubs in the The WWT Board has identified some op- £75,000 income for the upcoming year. better promotion we believe we can see visage such a poor on field display as was UK have benefited from. For example portunities to increase the income of In the Club close season we have man- the lottery return to the days when the seen too often in 2013/14. A new squad we believe the Club is better placed to the Club. In total, the club is forecasting aged to sell more boxes than in the contribution reflected the local appetite with a better balance and the chance The addition of support staff for the take advantage of the volunteering skill an improved income of some £200,000 previous season and we are starting to for the Club and its activities. to play a more enticing style of football Manager should improve fitness lev- and resource of supporters, benefit from in season 2015/16. We do not think this see a renewed interest in the Club as a should mean an improved ‘product’ and els and hopefully reduce injury related local partnerships and funding opportu- is beyond achievement given the work whole. With new faces arriving it gives A target improvement of £45k is realistic allow us to exceed last year’s total ticket costs. nities and appeal more to sponsors. It is that has been done and is planned. us the chance to entertain guests and in the coming year. income. difficult to put a value on this, but they cross sell our facilities. A great example are opportunities of which the Board is has been the interest shown by parents A better range of food and beverage Increased use of Sponsorship aware. as their children used the pitch for the products and improved speed of ser-

Adams Park local Club six a side – many had not seen vice, plus opportunities to increase tick- We welcome suggestions as to how we inside the Frank Adams stand and what The Club has neglected areas like match et sales gives us confidence that an increase of £100k in this area is achievable. can grow in these and other areas. In the year just completed to 30th June it has to offer which has already resulted and ball sponsorship. Our offer to the

2014 room hire represented just £100k in bookings for the Woodlands room. business community has been tired, and of income. The number of available targeted at the same generous compa- On the pitch Reducing our costs rooms at Adams Park coupled with nies and individuals. In season 2013/14, Club lottery we secured virtually no income. the improved standard of service pro- Although not in our financial projections, Many of the costs identified for im- vided in catering gives us confidence the Club has sell on clauses for a mix of provement have already been The Club lottery needs a revamp and has For the coming season - around £1,000 we can increase this contribution. For players, and it would be reasonable to made, so the Club is confident that not been reviewed or enhanced since its per home match is more than achiev- example hiring out two small rooms predict a boost to the income of the the targeted £300k savings from launch. With a different approach and able. each week could give us an additional Club as some of those performance or season 2013/14 can be delivered. transfer related extras become a reality.

12 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 13 1887 “Safeguarding our heritage and promoting a The Club’s first ever game successful and sustainable future.” WWT was a goal-less draw against the Wycombe Nose Club on 24 September 1887. 1990 In 1990, Wycombe moved from their old Loakes Park ground, whose pitch famously had an 11ft slope on it, to the new Ad- ams Park stadium, named after questions a benefactor, Frank Adams, who provided money without asking and answers to own the Club. 1991 & 1993 F.A Trophy Winners vs Kidderminster Harriers (‘91) & Runcorn (‘93). Why a share issue? How will the money be Members have been very supportive managed? of the Club since the WWT’s acquisi- The money will be held in a separate 2001 tion. Many have already contributed account managed by WWT. It will then Reached FA Cup Semi-Final losing financially through regular donations. be invested into the subsidiaries mostly 2-1 to Liverpool. It would be unfair to ask for more vol- Wycombe Wanderers Football Club Lim- untary donations and the issue of new ited. WWT will hold the Board of WWFC shares is an alternative that hopefully to account to manage the business of 2007 provides members with a return on their the Club in line with the budget. The Reached Carling Cup Semi-Final investment. progress will be shared with the mem- losing over two legs to Chelsea. bership of WWT.

How much does member- Will the one member, one ship of WWT cost? vote be affected? What return will I receive Membership costs £10 a season for No. These will be a separate class of We have been successful in applying Can other organisations Can I apply for the return adults and £5 for concessions (those for Community Shares? shares not carrying any voting rights. to Her Majesty’s Revenue and Cus- of my investment? aged 25 or younger and 65 or older). Community shares will only be available Members have the potential to toms (HMRC) for approval for the share subscribe for Community Yes, however no withdrawals will be to members and they will not provide receive interest of up to 2% over Bank of offer to be accepted into the Enterprise Shares? allowed for first 3 years to allow any additional voting rights. England base rate. Any interest granted Investment Scheme. Yes. A representative of that organisa- the Club to utilise the funds raised is not paid in cash but will be added tion will need to become a member as How much is the Club to build the business. Three years to the share account of the individual. Subject to your personal circumstances, nominee for their organisation. seeking to raise? What about Community from the date that the share offer is This cannot be guaranteed and will be you can claim back tax relief of up to The offer will remain open until such launched requests to withdraw will Shares, how much will governed by the financial results of the 30% on your investment at the end of time as the Board of WWT decides to Are there any restrictions be considered by the Board in order Club. the tax year. close it. From consultation with the they cost? of receipt and no more than 10% on the payment of members conducted in April and May £1 shares will be issued. The minimum of the total amount raised can be If the Club is successful then that We think this is a fantastic incentive to 2014, the WWT Board is hopeful of rais- investment will be £100 and the maxi- interest? repaid in any one year. success can be shared with members. invest and buy shares in our scheme. ing £500k in the first few months that mum is £100,000. No interest will be paid during the first 2 The decision of whether interest will be More details on the scheme and how in- the offer is live, with an overall target of years to help the Club build its activities. paid will rest with the WWT Board. dividuals could benefit can be found on £2 million over five years. our website:

www.wycombewandererstrust.com 14 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 15 ensuring the Club operates with Share certificates In the event that a member fails to financial responsibility enabling Everyone who purchases £100 or renew their membership, their funds the Club to be run for the long term more community shares will receive a will remain invested in the scheme interest of the Community; community share certificate. Updated until a request to withdraw is made in share certificates will then be sent out line with the details in the ‘share issue’ providing sporting facilities and to individuals whose shareholding above; opportunities regardless of age, has changed on an annual basis. The income, ethnicity, gender, disability, Secretary will keep an updated share THE SHARE ISSUE If you are an existing member you sexuality, religious or moral belief; and register. need to provide your membership de- The shares we are issuing are Community Shares issued by WWT (registered tails on application; playing at the highest level pos- What are the business with the FCA as ‘Wycombe Wanderers Supporters Group Limited’) as permit- sible, but always operating in a If you are not an existing member financially responsible and prudent advantages of ted by our constitution. The terms which the WWT Board has approved for the you need to join at the time of appli- manner. community ownership? cation. The first £1 of the annual mem- By the community collectively shares are as follows: bership fee will be used to buy an or- owning Wycombe Wanderers FC dinary share in your name; we believe we have the potential reserves and the society’s primary Tax Relief Benefit 1. £1 shares will be issued. 10. As the minimum investment is We have been successful in applying to achieve more – building stronger commitment to community benefit; Members are required to pay an £100 should a member wish to make to Her Majesty’s Revenue and Customs partnerships with the local commu- annual membership fee which is 2. The shares can only be bought recurring payments to build up to this (HMRC) for approval for the share offer nity, representing a different appeal to 7.2. The Board may, having regard to agreed by a members’ vote. If you fail and held by members of Wycombe amount we will confirm entry into the to be accepted into the Enterprise In- sponsors, increasing attendances and the principles set out in the preced- to pay the fee you may cease to be Wanderers Supporters Group Limited scheme with a share certificate once vestment Scheme. Subject to personal match day spend, making more of the ing sub-paragraph, pay no interest or entitled to member benefits. If you who are 16 years of age or are a corpo- £100 has been paid. circumstances, this would enable indi- goodwill from supporters with proj- interest at a rate lower than the rate would like to invest more than the rate body or firm. If you are currently vidual members to claim tax relief of ects and volunteering opportunities. referred to above. maximum £100,000, please contact us a non-member you will need to join As community shares can only be up to 30% on investments. 11. to discuss other options we have. when purchasing Community Shares. issued to members, if any of the pay- The umbrella body of WWT, Support- 8. The shares are withdrawable with ments are made after an individual’s We think this is a fantastic incentive to ers Direct who promote sustainable effect from February 2018 subject to invest and buy shares in our scheme. spectator sports clubs based on sup- 3. Shares are only transferable with WWT membership has expired these This offer is open to all the following conditions: porters involvement and community the consent of the WWT Board -which will be returned to the lapsed member, members of the Wycombe Investors who are hoping to claim ownership, has produced some will not be unreasonably withheld. with a reminder to renew membership. Wanderers Trust. The EIS EIS relief need to be aware that for research which highlights some of 8.1. Applications to withdraw shares will be made in writing to the Secre- elements are only open to the offer to retain EIS relief, Wycombe these opportunities. 4. No voting rights are attached to tary of WWT; Membership UK taxpayers. If you require Wanderers Supporters Group Lim- Community Shares. ited is required to hold at least 90% For more information please visit Everyone who has Community Shares further advice please contact of voting and non-voting shares in www.wycombewandererstrust.com 8.2. All withdrawals must be will need to be a member of WWT. us. Wycombe Wanderers Football Club 5. The minimum purchase of shares funded from trading surpluses and are WWT is a Community Benefit Society Limited for a 3 year period after the is £100 and the maximum is £100,000. at the discretion of the Board having registered with the Financial Con- Membership is open to individuals date any shares to investors have regard to the long term interests of duct Authority. Community Shares aged 16 and over, who are sympa- been issued. Whilst we don’t expect WWT, the need to maintain prudent do not carry extra voting rights, thetic to the objects of WWT. WWT’s 6. The offer will remain open indefi- that situation to arise, we need to reserves and the society’s primary the one member; one vote princi- objects are to benefit the community nitely or until such a time as the WWT flag it as a potential risk that should commitment to community benefit; ple of WWT will remain sacrosanct. by: Board decide to close the share offer. our shareholding go under 90% Whether investments are small or HMRC would be within their rights to 8.3. The Board will not permit more large, everyone will have an equal say. enhancing the social, cultural and Interest of up to 2% per annum reclaim the relief and withdraw EIS for 7. than 10% of the total value of the economic value of the Club to its above Bank of England clearing bank subsequent issued shares. “Everyone who shares issued to be redeemed in any The full rights, role and responsibilities Communities and by acting as a re- base rate may be paid on the shares financial year. of members are set out in the Rules sponsible custodian of the Club for wants to purchase subject to the following conditions: More details on the scheme and how of WWT which are available at www. future generations; Community Shares individuals could benefit are shown at 9. On the solvent dissolution or wind- wycombewandererstrust.com but the 7.1. Any payment of interest must www.wycombewandererstrust.com will need to be a ing up of WWT holders of the shares following points are drawn to your upholding the mutual ownership be from trading surpluses and is at will have no financial entitlement attention: of the Club operating democratically, member of the the discretion of the Board having beyond payment of outstanding in- fairly and transparently; regard to the long term interests of Wycombe terest approved by the Board and WWT, the need to maintain prudent Wanderers Trust.“ repayment of paid-up share capital.

16 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 17 CONTINGENCIES & “The primary aim of Wycombe Wanderers Trust is to safeguard the RISKS This document contains certain forward- heritage of the Football Club and to maintain its ownership within the looking statements that are subject to community for future generations. certain risks and uncertainties, in particular statements regarding the Society’s plans, goals and prospects. The Society’s 2.2. confirm that in making the applica- actual results and operations could differ materially from those anticipated tion you are not relying on any infor- Supporters Direct is the leading mation or representation other than in such forward looking statements as Why we exist organization working with and We exist because we are needed: The those contained in the offer document a result of many factors including the promoting community owned sports game can be better run and should be and this application form and agree risks faced by the Society which are clubs. more responsive to the needs of its fans that no person shall have any liability described in this section and elsewhere in this document. and local communities. in connection with your application for Our experience spans a number of any information or representation not These statements and the assumptions sports but is most evident in the English contained in the offer document and football league system. Most clubs at How we do it that underlie them are based on the We do it by sharing the experience of application form. the base of the football pyramid are current expectations of the Board and supporters’ trusts & community owned run on an amateur basis by teams of are subject to a number of factors, many clubs across the game, helping them to The Society and the Board accept dedicated volunteers, be they players, of which are beyond its’ control. As a speak with one voice so that they can responsibility for the information con- coaches, managers, organisers, admin- result, there can be no assurance that challenge & change the way that clubs tained in this document. To the best of istrators, groundskeepers, matchday actual results will not differ materially and the game behaves. the knowledge of the Society and the officials, stewards, supporters, family Board (who have taken all reasonable from those described in this document. and friends. care to ensure that such is the case) the What makes us different information contained in this docu- Our share offer is exempt from the Financial Services and Markets Act 2000 What we do We work closely with grassroots clubs ment is in accordance with the facts and and this allows us to work within the or subsidiary regulations; this means Supporters Direct helps fans to set up contains no omission likely to affect its game, with government and others, you have no right of complaint to an democratic cooperatives (known as substance. whilst being a positive influence and a ombudsman. supporters’ trusts) to gain influence credible voice with the movement that provisions in the running and ownership of their we serve. required by law; or with the permission supporting A community benefit society is regis- clubs. Funds raised via the share issue will tered with but not authorised by the of the person concerned. Supporters Direct continues to be held in a separate bank account by documents Financial Services Authority and there- For more information visit: WWT. Money will then be used in line fore the money you pay for your shares empower supporters at all clubs in all You can find all of the following www.clubdevelopment.coop with the offer document. 1. Applications will be processed in is not safeguarded by any depositor sports to stand up and be heard. supporting documents on the WWT the order in which they are received protection scheme or dispute resolu- website or on application to : Confirmation of when your payment and may be accepted or rejected at tion scheme. As the whole of what you has been converted into Community the absolute discretion of the Board [email protected] pay could carry a risk, please consider it Shares will be when we send a share of WWT. Any application rejected will carefully in the context of the complete certificate which will include the date be returned to the applicant together The constitution of WWT share offer document, and if needed of issue of the shares. with a cheque for application monies FAQs to provide more detail as to seek independent advice. received without interest. how the scheme will work Progress reports to all those supporting More information about As identified in the tax relief benefits the scheme will be issued as and when 2. By completing and delivering an ap- community shares and how they section on page 17, should WWT’s appropriate. plication form you, as the applicant: have been successful at other shareholding in Wycombe Wanderers football clubs Football Club Limited fall below 90% The information provided in applica- 2.1. offer to acquire the number of A guidance document on the (within a 3 year period from the date that tion forms will be dealt with in accor- Community Shares in WWT specified Enterprise Investment Scheme and community shares are issued to you), dance with data protection legislation in the form on the terms and subject potential tax relief for individual HMRC would be within their rights to and will not be disclosed to any third to the conditions set out here and in investors reclaim EIS relief from individual inves- party except for the purpose of run- the offer document and subject to the Audited accounts of WWT from tors and withdraw EIS for subsequently ning the Share Offer; for preventing Rules of WWT; 2011/12 and 2012/13 issued shares. crime; to the police, if required by law; Audited accounts of WWFC from to any relevant regulatory authority, if 2011/12 and 2012/13

18 Wycombe Wanderers Trust Share Offer | February 2015 Wycombe Wanderers Trust Share Offer | February 2015 19 Wycombe Wanderers Trust 3 Kingswood Place High Wycombe Bucks HP13 7SR

Website: www.wycombewandererstrust.com Twitter: @wwtrust

Email: [email protected] Wycombe Wanderers Trust is the trading name of Wycombe Wanderers Supporters Group Limited Registered as society no. 32456R under the Co-operative and Telephone: 07973 961068 Community Benefit Societies Act 2014.