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Exchange Bristol

Share Offer

£250 minimum

Exchange Bristol is undertaking a community share issue to secure its future as a grassroots venue at the heart of Bristol’s live music scene. If successful, this share issue will put Exchange Bristol on a firmer footing by giving it the solid bedrock of community ownership, clearing historic debts and enabling it to make improvements to its building in order to increase revenue-generating potential.

Minimum raise for offer to proceed


Financial return

Exchange Bristol will pay 3% interest p.a. on these shares, subject to performance of the venue, but reserves the right to vary this if necessary.


Exchange giving rewards to individuals who invest at different levels.  The following rewards will be given to you:


  • 10% off in the Cafe & Specialist Subject Records
  • Priority Tickets
  • Invitations to special events
  • Discounts for selected gigs
  • Goody Bag
  • Limited Edition Screen-printed Share Certificate
  • Your name on the Investors Celebration Wall at Exchange


  • All from £250 option
  • T-Shirt
  • Free Investors Lunch
  • Opportunity to win one of five golden tickets
  • Limited edition Exchange Compilation CD
  • Limited edition Specialist Subject Compilation CD
  • Your name scrawled on the toilet walls by Fat Paul


  • All from £500 option
  • Opportunity to co-produce an event using our venue and expertise
  • Free Entry to 10 Gigs


  • All from £1,000 option
  • Fat Paul will DJ at an event of your choosing
  • Free Entry to 20 Gigs

£2,500 (The Band Option)

  • All from £500 option
  • Record your band’s EP at Joe’s Garage recording studios
  • Limited Edition run of CDs of the recording
  • EP Launch Gig at Exchange with Rider, Posters,
  • Ents24 Promo Package & Social Media Ads
  • Live Photos & Short Film


  • All from £2,500 option
  • Silver Ticket (Free Entry to any gig for next two years)

£10,000 and above

  • All from £2,500 option
  • Golden Ticket (Free Entry to any gig forever)
  • Tailored Benefits (please contact to discuss)

All rewards to be provided by Exchange Bristol after the share offer has successfully completed.

Social return

The Directors expect that, with a fund of £250,000, the following impacts could be achieved:

  • The building could be modernised to give the venue broader appeal as a cafe and bar as well as a gig venue
  • The event infrastructure could be improved, upgrading the sound, lighting and stage
  • The venue could become more sustainable, reducing it's carbon footprint with installations such as solar panels and water-saving toilets
  • Accessibility would be improved, as well as soundproofing.
  • The society could pay off the £100,000 loan which would enable the venue to proceed from a sound financial basis.

Minimum investment amount


You must order a minimum of 250 shares.

Maximum investment amount

Investments of up to £25,000 will be accepted from individuals, and of £100,000 will be accepted for organisations, subject to the limits on share withdrawals set out in the offer document.

Fees payable to purchase this product

Basic account Member account
None None

Statutory charges


Getting your money back

Payment of interest and capital is not guaranteed and is dependent on the continued success of Exchange Bristol's business model.

This investment is not covered by any government compensation scheme.

Shares cannot be sold or transferred to another person but they can be withdrawn. No shares can be withdrawn for three years from the issue date. After this time, you can get your money back, subject to the Board restriction - they will specify a maximum total amount available for withdrawals in each year. All withdrawals will be paid in the order in which the notices are received, up to the maximum total withdrawal amount set for that year, following which no further withdrawals may be made.

The Board also has the right to refuse or suspend withdrawals if it considers it to be necessary in order to protect the Society.

The maximum application for withdrawal that will be accepted in any year will be £10,000, regardless of the shareholding held; however the maximum that will be paid out will be subject to the annual limit on withdrawals in effect at that time, and to the value of withdrawals that have already been made in that year. Withdrawal terms for institutional investors are on an equal footing with individual investors. These arrangements have been put in place to limit the exposure of the Society to large share withdrawals.

How secure is your money?

Exchange Bristol wants to be fully open and transparent to its potential investors about the risks as well as the benefits of investment in community shares. Exchange Bristol wants to make the following general points explicit:

  • An investment in community shares is an investment in a trading business, not a loan or a deposit, and the rates of return are not guaranteed. This investment should be considered as medium to long term. Your shares may not be readily convertible to cash should you need to withdraw them.
  • Like many investments, community shares are at risk and you could lose some or all of the money you invest. Unlike deposits with high street banks, community shares are not covered by the Financial Services Compensation Scheme, nor is there any right of complaint to the Financial Ombudsman Service. Any dispute may be the subject of arbitration as set out in the Society Rules.
  • As a member and shareholder of Exchange Bristol you could, if Exchange Bristol is unable to meet its debts and other liabilities, lose some or all of your investment held in shares. However, your liability is limited to the amount that you have paid for your shares.
  • Your investment in your share account may receive interest but does not enjoy any capital growth. It is primarily to support your community rather than make a profit for investors. As a Society, the maximum return offered to investors by way of interest will always be limited.


Keeping track of your investment

The details of your investment are recorded on your share certificate and by the Society.

Share certificates are issued directly by the Society, not by Ethex.

Community Shares

Community Shares are “withdrawable” shares; they can be withdrawn, subject to the conditions set out in this Offer Document, but they cannot be sold on or transferred (except upon death or bankruptcy), and nor can they increase in value. Inheritance of shares will be a part of ensuring a legacy is passed on to the next generation, so you will be asked to nominate your beneficiary to inherit your shares.

Community Shares do not pay dividends, but Exchange Bristol plan to pay investors 3% in interest per year from 2019. Exchange Bristol can only do this subject to having resources available, and Exchange Bristol Board reserves the right to make decisions on interest payment levels on an annual basis: nevertheless, Exchange Bristol's modelling gives them confidence that they will be able to generate these resources, and their financial forecasts are set out in full in their Share Offer document.


The shares you buy will make you a Member of the society, with an equal vote regardless of your shareholding. Your involvement thereafter can be to serve on the Board of Directors, become a part of the Member Forum, volunteer your skills, get involved in (or propose a new) project, or simply support and attend Exchange Bristol's projects and activities.

Each share costs £1. There is a minimum investment of £250, up to a maximum shareholding of £25,000 for individuals, or £100,000 for organisations.


This offer is primarily of interest to Bristol residents, including those who have lived here and moved away. However Exchange Bristol believe that supporting this project is of wider interest to socially-driven investors because it offers a model for raising funds to support capital and enterprise projects that benefit the local community, and for keeping most of those funds circulating locally rather than leaking out of the area, thereby creating a virtuous circle of social investment. As Exchange Bristol will offer a reasonable annual return to shareholders through the payment of interest on the sums they have invested, we believe this offer will therefore also be of interest to investors from outside the local community, who support its aims.

This offer is not for those who wish to make short term investments to maximise their financial returns. Rather, it is for those who are prepared to invest their money for the medium to long term, in order to support the social benefits generated by Exchange Bristol while also earning a return that is broadly equivalent to – and indeed currently better than – those that can be found on the high street.

Offer Closed

 As of the 31st October 2018 this offer is closed

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