Successful fund-raising campaign continues

Nearly forty people have very kindly offered to support the Redlake Valley Community Benefit Society in its purchase of an additional quillet of woodland, which has now been named ‘Henry’s Quillet’ after its late owner, Henry Richards. The Directors of the Society are delighted that the many generous offers of money have made this possible and are now arranging the formal completion of the transaction.  However, there is still a small shortfall which is currently being bridged by a no-interest loan from a well-wisher. The Society can receive money both as shares and as donations and we welcome contributions of either in order to repay our loan and encourage new shareholders.  It is also possible to make contributions under both categories  and one payment could include both. 

Shares enable the purchaser to become a full voting member. Because each shareholder has only one vote irrespective of the number of shares owned, the minimum number of 100 one-pound shares ensures that all members have demonstrated a proper level of financial commitment.  There is also a maximum of £500 to protect the Society’s financial wellbeing because shareholders have the right to withdraw their shares and the Society must make reasonable provision against this happening.

Donations are unlimited in amount but there is no right to vote and no automatic right of return of money.  From the Society’s perspective, however, they have a significant financial advantage when given under the Gift Aid scheme.

Anyone wishing to contribute, and for the Society to fulfil best practice guidance, it is necessary to complete an application form (and perhaps two). These can be found on this website along with an explanatory share offer document by clicking here.

Please do not hesitate to contact me if you have any questions or if you would like either of the documents in hard copy. You can get in touch through the contact details at the foot of this page.

With best wishes,

Anthony Morgan,
Treasurer to the Redlake Valley Community Benefit Society

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