Invest – Information for the Issuance of Shares
Stockwood CBS is offering 1,000,000 ordinary shares, with the aim of raising £1,000,000, which together with bank and other loans will be used for the purchase of the Stockwood Estate for £2,630,000 (subject to contract).
The minimum investment in this share offer is £100 (100 shares) and the maximum (by law) is £20,000 (20,000 shares). Larger sums can be offered as a loan to Stockwood CBS. It is also possible to make a gift-aid donation to BDLT, as an exempt charity. BDLT will then purchase shares in Stockwood CBS with the donations received. For all enquiries relating to making loans please contact Resonance Limited. To make a donation please send a cheque to BDLT at the Stockwood CBS address indicating this is to support Stockwood CBS and stating whether or not you are a tax payer.
The Share Offer opened on 17th May 2013. Late in December 2013 finance was agreed for the money required to purchase Rush Farm and Stockwood Business Park. Shares will remain available in order to facilitate other investors withdrawing their shares. We can issue shares to the value of the assets held and whilst the Directors see the benefit in a mix of finance, it is their strategic aim to reduce loan finance and increase community participation through shareholder investment.
The offer is open to individuals over the age of 16, trust funds, Self-Invested Personal Pension Plans, nominee services and corporate entities, groups and associations.
The following sets out the details of becoming a member and investor of Stockwood CBS.
Stockwood CBS is Stockwood Community Benefit Society Limited, a community benefit industrial and provident society, registered in England & Wales on 11th December 2012 (number 31920R).
Membership of the Stockwood CBS is afforded to holders of ordinary shares. Stockwood CBS operates on a one member, one vote principle regardless of the size or value of the member’s shareholding.
Provision is made in our Rules to pay interest on share capital at such rates as may be determined by the Directors from time to time. The interest is calculated on the society’s quarter dates (end of March, June, September, December) payable at the end of the accounting year following the acquisition of the site, eg if Stockwood CBS buys the site before the end of September then members will be paid one quarter’s interest at the end of December. It is expected to be 5% and a fair rate thereafter.
Charging & Running costs
There are no charges made on your investment but costs of attracting capital and running the Stockwood CBS will be paid for by Stockwood CBS and will be taken into account when determining the annual interest rate to be paid to members.
The Directors will not take a salary in the first year but will be reimbursed for reasonable expenses. Decisions on future directors’ salaries will be taken at the AGM. Other costs that apply include:
Resonance Limited will receive 1% of all funds raised.
Approved introducers may be paid up to 3% of the funds they directly introduce.
Advertising and direct promotional costs are anticipated to be in the region of £5,000 for the current share offer, paid by Elysia and converted to shares.
In the event of the death of a shareholder, the repaid value of the shares will normally be added to the estate for probate purposes. For investments up to £5,000 you may elect to nominate a recipient for the value of the shares and thus (under current legislation) remove the value of the shares (up to £5,000) from your estate for probate (but not tax) purposes.
Withdrawal of shares
Stockwood CBS’s rules allow for the withdrawal of funds subject to 180 days’ notice.
The Directors reserve the right to suspend withdrawals, should there be insufficient funds to make repayments.