Community Shares are defined by the CSU as non-transferable, withdrawable shares in a society with a statutory asset lock. The society must raise a minimum of £10,000 in share capital and have at least 20 members to qualify.
Shareholders have the right to withdraw their share capital, subject to the terms and conditions stated in the society’s rules and share offer document. But they cannot sell or transfer their shares on any market, or liquidate the business in order to achieve a capital gain.
We will provide full details of the shares in our Business Plan and Share offer documents, which will be published if and when we can reach an agreement with Horatio Properties to buy the whole of the Kings Arms site.