Update: 17.07.2019 - Extension of offer
Below is a copy of a letter from the Equal Care Co-op team, updating on the share offer extension.
Extension of Equal Care Co-op Community Share Offer by four weeks
We have had an incredible response to our share offer and a huge, huge thank you to everyone who has invested to date. Not only has your investment given us the crucial support to develop the UK’s first platform co-op for social care, but it has also demonstrated that community shares represent a real option for innovative, digital co-operatives and community benefit societies at an early stage of growth.
We have achieved our optimum target of £300,000. This is of course absolutely fantastic, but we are aware of some intended investment still due to come in from both individuals and a couple of other co-operatives. We are also keen to take full advantage of the match funding provided by the Community Shares Booster Fund, bringing us to their maximum matched investment of £100,000 (and we are not far off this!). Hence the decision to extend the offer by four weeks, which we made provision for in our community share offer document. The closer we can get to our maximum of £500,000 the more we’ll be able to do and the better placed we’ll be for launching the service next year.
For all of you who have already subscribed and paid their investment to Ethex, we shall honour July as the first month of the 3% interest payment in 2022. For all those investing or paying their subscription beyond the extension date of 17th July 2019 we shall date the first interest payments from August 2022.
The offer will now close on 14th August - this is a hard deadline with no extensions, so if you know of anyone who is still umming and ahhing, this date will be the last opportunity to invest.
We shall be in touch again once the offer closes with your share certificates and details of next steps for the SEIS/EIS, together with an update on where we’re at and what the next few months shall hold for Equal Care Co-op.
With best wishes and thanks to you all
Equal Care Co-op