Our community share offer formally closed on Friday 31st March 2017, raising over £255,000 from more than 800 members.
We will be issuing share offer certificates in July 2017, along with announcing details of our AGM for the Autumn. In the meantime, please contact us if you have any queries about the share offer.
Our share offer documentation:
We sought to raise £250,000 to fund the next phase of refurbishment, transforming our inspirational Victorian ballroom so it can host all manner of cultural and community events. This will allow us to generate sufficient income to run the Hall sustainably and importantly pay your investment back in the future.
And for every pound invested we will receive additional funding from the charitable trust Power to Change, who have pledged to match the first £100,000 raised by the community.
The minimum investment is £100, with the option of paying in four monthly instalments of £25.
About the project
The investment sought for this share offer will enable us to renovate the ballroom to its former glory. It will build on the ever expanding list of achievements we have had to date, including securing ownership of the hall for the community and our subsequent work to develop plans and begin bringing the hall back into use.
If we are successful in reaching our target for the share offer, the ballroom refurbishment will create the largest cultural space in Stretford, and provide the Hall with the ability to host a wide range of events. It will also allow us to develop other sources of income such as sale of food and drink which will further support the future success of the business.
About community shares
Community shares are “withdrawable” shares that cannot be sold, traded or transferred between members, unlike shares in a typical company. All members are entitled to one vote – regardless of how many shares they hold.
Investors can withdraw their investment, along with any interest accrued subject to the approval of the board. We anticipate authorising share withdrawals at a rate of 7% per year from 2021. We are offering investors interest at 2% from 2019, which will be added to shareholder accounts.
Our share offer has been awarded the Community Shares Standard Mark which is awarded to offers that meet national standards of good practice. Find out more here
About Friends of Stretford Public Hall
Friends of Stretford Public Hall was formed in 2014 to take on the ownership and running of Stretford Public Hall for the benefit of the community.
It is a charitable community benefit society that is democratically run by its members on a one-member one-vote basis. We have exclusively charitable objects and a charitable asset lock, preventing members from making a capital gain by selling or closing the business for a profit, so the Hall will never fall into private ownership.
Friends of Stretford Public Hall is run by a Board of Directors, elected each year by our members.