The Club can now announce that the Robins Trust have reached an agreement with former Cheltenham Town chairman Paul Baker for the transfer of more than 150,000 shares in the club.
The agreement, which was approved unanimously by the elected Robins Trust board in line with its society rules, sees the Trust’s holding increased to in excess of 350,000 shares.
This will see the Trust move ahead of Paul Baker on the list of the major shareholders, with close to 16% of the total issued share capital.
Paul Baker, who was club chairman from 1997 until 2018 retains a 10% shareholding.
Speaking on behalf of the Trust's board, chair James Young said: "We would like to thank Paul Baker for putting his faith in the Trust to be custodians of a significant percentage of his shareholding.
"Paul will forever be one of the most important figures in our club's history, so it was an honour when he approached the Trust with this offer and we are proud to be able to accept.
"While we have agreed to keep the details of our agreement private, the Trust board were unanimous that this was in the best interests of the Trust and is a significant step forward for our aims.”
Paul Baker added: “‘I am a firm supporter of fans being involved with, engaged with and supportive of their football club and was delighted to support the formation of the Robins Trust while I was Chairman back in 2005.
“I felt the time was right to reduce my shareholding and am pleased to have reached this agreement which I hope will further encourage the Robins Trust Board to raise their profile at the club, increase their membership and increase their investment in the club.
“The football business is challenging to say the least and continued investment and support is vital.”
The Trust has invested more than £300,000 in Cheltenham Town since 2005, during which time it has been involved in numerous projects to improve facilities and access for supporters.
The Trust’s Fan Elected Director Dave Beesley said: “It's important that the Trust act on the feedback we receive and work to provide improvement for supporters.
“It also maintains our commitment to continue investing in the club. Something we can only do because of the support we receive from our members.
“Every pound we raise is invested in the Trust achieving its aims of increasing supporter representation and engagement and ensuring that our club retains its place at the heart of the community.”
The Trust has seen membership grow by more than 30% in the last 12 months since launching a new online membership portal.
To learn more about the Robins Trust and join, you can click HERE.
