Having smashed its initial target, fhe Dons Trust is delighted to accounce that their Plough Lane Bond scheme remains open. Already this year more than £2.4m has been invested in the scheme, which is continuing to aim at a new target of all the threes: “3.3 by 3/3”.This hopes to bring the total well over £3m in March. Bonds can be purchased with a choose your own interest rate of up to 6% for new purchasers, or 7% for existing bondholders.Dons Trust co-chair Xavier Wiggins said:“Yet again, our members and fans, as well as other supportive investors, have stepped forward magnificently. We have gone beyond our initial £2.2m target already and we are still going.“That’s why we are setting our sights now at a new target of 3.3 in March. Ideally by the 3rd of March as that’s a catchy slogan but we won’t worry too much if it takes a few days more. So as ever, thanks for your support, but please keep going.”Trust members may recall that the total refinancing package required this April is £4.5m [hyperlink to previous financial updates]. The Trust and plc are still in negotiations with potential minority equity investors and alternative lenders, but every bond invested helps the club’s overall position.Dons Trust Board vice-chair and treasurer Michele Little added:“Since we last updated members, we have held detailed negotiations with two individuals who were looking at making a significant equity investment, on a similar basis and level to Nick Robertson’s previous deal. Both of those conversations have come to an end, primarily because their circumstances changed and they did not feel able to commit. But we are in ongoing conversations with other interested parties and expect to have further progress to update on soon.“At the same time, we have also been talking to other lenders, so we are confident that if we can raise more than three million in this round of the Bond scheme, we will be in a very good place to refinance the bridging loan. This will put the club onto a firm footing with significantly reduced debt interest payments to factor into its planning for the next few seasons.”For full details of the bond please visit www.PloughLaneBond.com Your capital is at risk – full terms and conditions on website. The Plough Lane Bond is owned and administered by the Dons Trust.You can also see Trust Board member Charlie Talbot and club Financial Controller Tom Mak discuss the bond here.
