Supporters of Brent Knoll’s community shop can now buy shares in the popular facilities.
The team that run the shop have launched a Community Share Issue to meet a regulatory deadline to establish a shareholding membership and stage their first Annual Members’ Meeting.
The meeting will elect the future Management Committee to replace the current Steering Group of volunteers, with all shareholders being entitled to stand for election.
Shares are priced at £25 each, with the aim of encouraging as many local residents as possible to have a stake and an interest in the future of the Community Shop.
A full share-issue document and application form are available on the shop’s website, which also includes their Business Plan, their trading figures, and the model rules under which they operate.
“As a registered Community Benefit Society, regulated by the Financial Conduct Authority, we are required to launch a share-issue to create a community membership and stage our first Annual Members’ Meeting by the end of July,” says David Sturgess, Secretary of the Brent Knoll Community Shop’s Steering Group.
“Proceeds from the sale of those shares will be held in a deposit account towards the future cost of equipping the new shop premises that the Brent Knoll Parish Council plans to provide.”
“Once we know the full extent of how much we must raise, there may be a further share-issue: but, for now, we must meet the deadline of holding our first AMM by the end of July,” he explained.
Meanwhile, he adds that the volunteers have met Police requirements for lock changes to the current shop premises in order to begin using the recently granted alcohol license.
Their buying team is now using the results of a customer survey to stock what customers have identified as their preferred wines, beers, ciders, and spirits.