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Update on Share Withdrawal Scheme
By Simon Colebrook

Added on 14 October 2017

The Community Share Withdrawal Scheme has been open since 22nd September. We have seen a steady stream of applications for withdrawal coming in since that date, with over 1500 so far received.

We previously stated that processing of the first monthly batch would start during the week commencing 16/10, with a goal of making the first payment run on the week after that. Given the volumes of applications, the processing team started this work early on the 7th October.

We also previously advised that the deadline for receipt of applications to be included in this month’s batch would be 13th October. In order to ensure as many people as possible get included in the first batch we are extending that deadline to 20th October. We are still aiming to make the first payments in the week of the 23rd, but a significant number will carry over into the following week.

Any applications received after the 20th October will carry forward to our next batch which will be processed towards the end of November.

A number of members have kindly offered to assist with the processing of applications, for which we are very grateful. However, we have also had several members express concerns regarding data protection of the information and documents supplied and an understandable desire to have as few people as possible having access to the documents. For that reason, we have decided to keep the processing team as small as possible and to decline the offers of assistance.

So far, we have seen a substantial level of donations to Pompey in the Community, the Pompey History Society and also many shareholders choosing to prepay for future membership of the PST. We will update our members with final totals after we finish this month’s batch.

If you have not received a letter inviting you to apply to withdraw your share, please contact Steve Hatton, the Membership Secretary on [email protected]. He will be able to send you a duplicate letter via email..

Finally, we have also had some interest from shareholders wishing to donate their withdrawal to other organisations, for example, Pompey Ladies. Any shareholders wishing to do so will need to make their own arrangements with those organisations after having received their refund.

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