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Common Ground Against Homelessness

Common Ground Against Homelessness 2020 Share Offer

£500 minimum

Common Ground Against Homlessness is raising investment in this first share offer to purchase a four bed residential property in Edinburgh to convert it into 9 self-contained en-suite room accommodation for which planning permission has been obtained. The re-modelling/refurbishing will provide a home for 9 homeless men with communal areas and space for 24 hour support staff.


Minimum raise for offer to proceed

£335,000


Financial return

Common Ground Against Homelessness (CGAH) are offering a headline rate of up to 5% interest per year, but investors can choose to accept less if they would rather CGAH reinvest more money into their core work.

Common Ground will start accruing interest no later than the 28th March 2021, and people can make requests to withdraw funds from no later than 28th March 2024.

Interest will be accrued and credited to your share account, to be paid out to you whenever you withdraw your lump sum investment. Interest will not be compounded year-on-year.


Social return

Common Ground's aim is to be in solidarity with homeless people, by enabling social investors to put their money into buying the bricks and mortar, which will provide a home for life.

Investment in Common Ground's first share offer will enable it to purchase a property in Edinburgh and convert it into a 9-bed home for life for homeless men.


Minimum investment amount

£500


Maximum investment amount for individuals

£100,000


Getting your money back

Shares cannot be sold or transferred to another person but they can be withdrawn. Withdrawal of capital on request will be possible from no later than the 28th of March 2024. CGAH is committed to enable investors to withdraw their funds as long as this does not negatively impact the financial stability of the organisation.

The Board retains the right to refuse or suspend withdrawals if it considers it to be necessary in order to protect the Society from financial instability.

Payment of interest and capital is not guaranteed and is dependent on the continued success of Common Ground Against Homelessness' business model.

This investment is not covered by any government compensation scheme.


How secure is your money?

CGAH wants to be fully open and transparent to its potential investors about the risks as well as the benefits of investment in community shares. CGAH 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's Rules.
  • As a member and shareholder of CGAH you could, if CGAH 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 CGAH's shares 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.


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.

Community Shares do not pay dividends, but CGAH plans to pay investors 5% in interest per year. CGAH can only do this subject to having resources available, and the CGAH Board reserves the right to make decisions on interest payment levels on an annual basis: nevertheless, CGAH '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 and the Business Plan, which you should also read.


Membership

The shares you buy will make you a Member of the society, with an equal vote regardless of your shareholding. 

Each share costs £1. There is a minimum investment of £500, up to a maximum shareholding of £100,000, which is the legal limit.


Qualification

You must be 16 years or older to invest in this share offer.


Provisions on death of a Member

Where there are particular circumstances, including the death of a member, the Board has the discretion to release funds earlier.

£141,97721%
Applied for to date, of
£650,000 target

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