The value of Shetland Charitable Trust’s investment funds increased by £40 million in the last financial year, a return of almost 20 per cent.

Newly-selected trustee Malcolm Younger has informed Shetland Charitable Trust Chairman Bobby Hunter that he will not be taking up his place on the board.

At their meeting held on 20 April 2017, Shetland Charitable Trust Trustees unanimously appointed four new trustees after adopting its new governance arrangements. In addition, there is space on the board for up to four councillor-trustees.

Shetland Charitable Trust has passed a resolution giving effect to the reorganisation scheme approved by the Office of the Scottish Charity Regulator (OSCR) on 5th April.

Chairman of Shetland Charitable Trust Bobby Hunter said: "I'm pleased that OSCR has approved the new governance arrangements that were voted for by a decisive majority of Trustees on 12th May last year.

Shetland Charitable Trust and Shetland Arts will continue their support for the Garrison Theatre until at least 2020 when the current arrangements will be reviewed.

Shetland Charitable Trust is recruiting new Trustees to serve on its board.

Shetland Charitable Trust chairman Bobby Hunter last night paid tribute to the “enormous contribution” made to the organisation by councillor-trustees.

Shetland Charitable Trust has applied to the Office of the Scottish Charity Regulator (OSCR) for approval of a reorganisation scheme.

Buoyancy in the financial markets helped the value of Shetland Charitable Trust’s investments grow by £19 million in the six months up to the end of September this year.