SHAREHOLDERS in Dorchester Town are set to be balloted on proposals which, if approved, would see the Magpies take another step towards becoming a community-owned club.

The club’s board of directors “strongly believe” that converting to a one member, one vote Community Benefit Society (CBS) would be in the best interests of the county town outfit.

Board members have discussed the matter with the club’s major shareholders and stakeholders, as well as fans’ organisation Supporters Direct, over recent weeks.

A letter has been sent to shareholders informing them of the situation and the board say they will be “fully involved in the consultation process, developing the proposal and ultimately making the final decision” at an EGM.

A statement released by the club said: “The board of directors have a duty to its shareholders and supporters to do what they believe is in the best interests of the club in the short and longer term.

“The board are committed to developing the club as a community club and strongly believe the option to convert offers many benefits.

“Research suggests that the community are more likely to invest in, support and trust a community organisation.

“Many organisations are keen to help on a voluntary basis or in return offer a trade-off such as advertising.

“Community ownership increases income from the gate, sponsorship, advertising, fund-raising and so on.

“It also allows additional sustainable income through annual membership fees.

“Grant funding would be easier to secure, for example for a 3G pitch to UEFA standard. However, in the current tough economic climate this may still be challenging.

“The opportunity to use an asset lock on club assets would secure the club into the future for the benefit of the community, dissuading any investors looking to asset strip, while the issue of community shares would allow investors to fund future growth for a small return.

“Ownership of the club would be open to all, on an equal basis, developing a positive feeling and minimising problems by sharing them among those who can potentially help to resolve them.

“The involvement of the local community we believe will enable the club to cut running costs allowing more funding to be invested into the playing squad.”

For the proposals to be passed at the EGM it would need the support of 75 per cent of those shareholders voting.