Our Community Shares
Our Community Share Offer opened on 20 February 2024 and closed on 20 October 2024
The goal was to raise £500,000 - the amount needed to complete the funding of our £3.7 million ‘Homes for Hooky’ project.
Withdrawable Shares (£1 nominal value per share) were purchased by 107 investors (individuals and corporations) with £345,820 raised in total.
Shares were offered with a maximum interest rate of 6%, with 4% and 0% options provided.
Interest will be credited annually as additional share capital from year three, and withdrawal applications can be made from year five (May 2029).
The Share Offer was open to anyone over the age of 18, and was hosted on the Ethex platform. Ethex is a not-for-profit organisation based in Oxford. They have created a platform for positive investment in social transformation. Ethex will now be maintaining our Share Register.
A Share Offer Video, Share Offer Brochure (including FAQ’s on p28), Addendum and Business Plan can be viewed by clicking on the linked text.
What are community shares?
Community Shares are a way for local communities - and other supporters, to invest in the community for the long term, achieving social as well as financial goals. Investors in community Shares become members of a community enterprise with a democratic say in its social aims and future success.
Community Shares can’t be ‘traded’ : you can’t sell your shareholding on to someone else.
The value of Community Shares can’t increase, but can go down.
We are very grateful to all our investors for supporting our ‘Homes for Hooky’ project, and being part of our journey to create this inspiring and innovative community-led housing project, demonstrating how much can be achieved when communities work together with local councils, organisations, and practitioners, to build the homes that local people can afford to live in.
