|Offer opened||Sept 29th 2018|
|Offer closed||Nov 30th 2018|
|Location of project(s)||Sedbergh, Cumbria|
|Offer price, per share||£1|
|Min. investment amount||£50|
|Max. investment amount||£30,000|
|Min. raise for offer to proceed||£300,000|
The Society aims to pay interest on Community Shares after three years. Interest of 1% per year is expected to be paid on these shares at the end of the financial year 2020-21. If trading improves after five years the interest rates may raise to 3% per year. Interest will never pay above 3%.
Farfield Mill provides space for local artists and craftspeople at affordable rents, clusters artists together to increase their potential customers, contributes about £150,000 a year to the creative economy of the Sedbergh area and has consistently provided employment in the area for over 200 years.
The Farfield Mill 2018 share offer document has been awarded the Community Shares Standard Mark. This Mark is awarded by the Community Shares Unit to offers that meet national standards of good practice. These standards ensure that:
Societies are asked to sign a Code of Practice requiring them, among other things, to give the public a right of complaint to the Community Shares Unit.
Farfield Mill have secured the support of the Booster Programme which is funded by Power to Change and run by the Community Shares Unit. Under this programme up to £100,000 is available to match applications for shares from the public. This means that for every pound invested by individuals up to £100,000, another pound will be invested in shares by the Booster Programme.
The match shares will be held by Co-operatives UK, a partner in the Community Shares Unit, and will be subject to the same terms and conditions as other Farfield Mill Limited Community Benefit Society members, except for the right to withdraw share capital, which will be restricted to a pro-rata amount.
Learn more about key aspects of this share offer
Aims, social and financial performance, and how it's run
The information on this website is only a summary of the offer document.
Before applying for shares the whole text of the accompanying share offer document and business plan should be read.
Farfield Mill acknowledges the help of The Craven Trust in the preparation of its Share Offer.
Farfield Mill acknowledges the help of the Yorkshire Dales National Park Authority Sustainable Development Fund in the preparation of its Share Offer.
If you are in any doubt about the information on this website, the content of the accompanying prospectus or the action you should take, you should immediately consult a person authorised for the purposes of the Financial Services and Markets Act 2000, who specialises in advising on investment in shares and other securities.
Prospective investors should be aware that the value of the shares, which will not be quoted, cannot go up, but can go down. In addition, there is no certainty that investors will get back the full amount they invest.
As of the 30th November 2018, this offer is closed
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