Shetland Charitable Trust has agreed a new investment strategy that seeks to generate more money for the benefit of the community.

Shetland Charitable Trust Chairman Bobby Hunter said: “The Trust is content that it has acted in accordance with charity and company law with respect to its relationship with SLAP.

Shetland Charitable Trust has given its full backing to the directors of SLAP over their handling of the sale of the site at Commercial Road in Lerwick.

Shetland Charitable Trust today approved disbursements of more than £6 million in 2016-17 for the arts, leisure, sport and heritage, and for voluntary and other groups in the isles.

Shetland Charitable Trust has agreed to reduce spending in 2016-17 by just under £400,000 as it continues to bring the amount it hands out into line with its income.

Shetland Charitable trust is to extend the contracts of the three members of the Viking Energy Shetland LLP board for a further two years.

Two new directors have been appointed to the board of Shetland Heat Energy and Power Ltd (SHEAP), which runs the Lerwick District Heating Scheme.

Shetland Charitable Trust will miss out on the return of rental income as a result of BP’s decision to ship oil from the Schiehallion field direct to market.

Volatile world stock markets mean the value of Shetland Charitable Trust’s investments has decreased by more than £13 million in the first six months of the year.

The 2015 Annual General Meeting of Shetland Charitable Trust will be held on Thursday 10th September at 11.30am in Islesburgh Community Centre, Room 12.