How do I buy shares?
Fill in an investment form either online or on paper which you will find on the back of our widely distributed marketing leaflet or on the full share offer document which you can print here.
How much does a share cost?
Our shares are sold in multiples of £100. The minimum amount you can invest is £100 and the maximum is £50,000. We cannot accept sums that are in multiples other than £100 such as £50, £150, £350 etc.
Can we buy a share in the names of more than one person?
Yes, you can buy shares between more than one person. However, if you are buying more than one share (i.e. investing more than £100) it is worth considering dividing them between the people concerned. That way you each become a member of the Society and you each get an individual vote in our AGM. At the same time, if you are intending to apply for tax relief for the value of your investment under the SITR scheme (see below), you may wish to place the greater part of your investment in the name of the person who pays most income tax.
How do I pay for shares?
You can pay either by cheque payable to Menter Ty’n Llan Cyf and sent to Menter Ty’n Llan, 8 Beddgwenan, Llandwrog, Caernarfon, Gwynedd LL54 5LL or by bank transfer – Menter Ty’n Llan Cyf, sort code 60-83-01, account number 20439554, using the first line of your address as a reference number.
Can we make one bank transfer for multiple shareholders?
If more than one person in your household is investing in shares at the same time, you can make one single bank transfer as the reference number you need to use is the first line of your address. If you are paying for shares on behalf of someone who lives at a different address, you will need to make a separate bank transfer so that the reference on the payment matches their own address.
Can I give shares as a gift?
Yes, you can purchase shares on behalf of someone else as a gift. Please fill in an individual form on their behalf. If they live with you (a child over 16 for example) you can make one single bank transfer for the total household investment. But if they live at a different address, you will need to make a separate bank transfer so that the reference on the payment matches their own address.
Can I buy shares for a child?
Yes, please fill in the relevant fields in the investment form. They will not be full members and will not be able to vote in our AGM until they are 16 years of age, but they will be eligible to receive interest on their investment just like everyone else.
Can I buy shares as a business, company or establishment?
Yes, put the full business name, company or establishment title as Full Name when filling out the form.
Is the share offer only for locals?
The share offer is for everyone. We recognise that the share offer will appeal to locals and people from elsewhere who believe in the mission of Menter Ty’n Llan and want to support the cause. We want to attract investment and support from people all over Wales, the UK and the world!
Can I buy shares if I live outside the UK?
Yes, we welcome support from shareholders from all corners of the world! But please make sure that you arrange the bank transfer payment in GBP/Sterling so that we receive the full value of the shares purchased.
Can I buy shares more than once?
You will be able to buy shares more than once within the 6-week share offer window. This current share offer closes at 11 June 2021.
How do I know if you’ve received my investment form?
When you fill in the online investment form you will receive a confirmation email with a summary of your details. If you haven’t received it, check your spam folder. If ever in doubt, simply contact us on firstname.lastname@example.org. Share certificates will be sent by post to all investors.
I’m having trouble making a bank transfer
We’ve heard that some customers are seeing a warning from their bank when they try to pay into the Menter Ty’n Llan account. This is because of something new called ‘Confirmation of Payee’, which is designed to stop people accidently sending money to the wrong recipient.
Any new payee you set up in your online banking now involves an extra check to ensure the name you enter matches the name on the recipient account.
Sometimes warnings show even when all the details are correct. We use the Unity Trust Bank which specializes in providing services to community benefit societies such as ours. At the moment, Confirmation of Payee doesn’t work for a Unity Trust bank account and your bank may give you a warning to be careful. You can read more about this at Pay.uk, the UK’s leading authority on retail payments.
Despite these warnings, the great majority of our supporters are successfully paying into our account because the details are legitimate.
Can I have paper copies of the full share offer and business plan?
Yes. To request hard copies of the documents, please contact our Treasurer on 01286 830640 or email@example.com
Why are you selling shares now? I thought you had already raised the funds to buy Ty’n Llan?
Our offer on Ty’n Llan is underwritten by the pledges of short term loans made by supporters back in March 2021. However, those loans will need to be repaid, so the more share capital we are able to raise now the lower the loan repayments which will need to be made in due course. The money raised through the share offer will be used partly to purchase Ty’n Llan and partly to provide match funding for the grants we hope to secure to deliver the refurbishment and renovation of the building The amount of funding raised by the closing date will be seen by other funders as an important indicator of community support.
How easy will it be to apply for the SITR and what does it mean for me as an investor?
We have now received Advance Assurance from HMRC that the share issue meets the criteria of the SITR scheme and that investments made by taxpayers will qualify for tax relief as outlined n the Share Offer document. You will in due course be sent a tax relief certificate. You will then need either to make a tax return for the year and claim it as a tax-deductible investment, or you can send it to HMRC and ask them to change your tax code for the year. If you are a standard or higher rate taxpayer, this will mean an investment of £1000 will end up costing you £700. More details can be found on pages 11 and 12 of the Share Offer.
Will I get my money back at some point? And will I receive an annual return on my shares?
Community shares are withdraw-able share capital which is uniquely issued by co-operative and community benefit societies to raise money and to buy assets for the benefit of the community. Our aim is to pay annual interest of around 2% once three full years of trading have been completed and if sufficient profits are being generated. After 5 years, you can give notice if you wish to withdraw your shares. The Management Committee will propose guidelines to the Annual Meeting to deal with withdrawal applications. It is likely that there will be a limit on annual withdrawals and that they will be subject to the Society’s retaining sufficient reserves or to there being new capital coming in. Please read our full share offer document for further information.
Can I eventually leave shares in my will to my family?
Yes you can. The change of name will need to be registered by the Society.
Can I sell or transfer shares to somebody else? What might they be worth?
No. Your shares can only be re-purchased by the Society in line with its withdrawal guidelines. They will only be redeemed at the price which was paid for them.
What security is there for people who buy shares?
The Society does not offer security for those buying shares. However, If the venture were to be closed down, it would be possible to sell the assets and return capital to members up to the value of the original investments, after all other debts had been paid.
What happens if not enough shares are sold?
The Business Plan assumes our efforts to raise sufficient funding, through a combination of selling shares, securing grants, issuing loans, and other fund-raising activities, are successful. If they are not, the plan will be scaled back, and individual parts of the development described will be shelved or postponed until funding becomes available. At an appropriate point, a finalised plan, based on funding which has been secured, will be put to the members for approval.
When will Ty’n Llan re-open?
Some outdoor activities may be possible this summer. Otherwise, the plan is currently to aim for a phased opening from autumn 2022 following extensive renovations.
How can I find out how things are progressing?
For the latest updates, follow us on Facebook, Instagram or Twitter. You can also join our e-mail list, there’s a link at the bottom of this page.
What is the Community Shares Standard Mark?
Cooperatives UK exists to promote cooperative organisations and societies of all kinds. They have devised the Standard Mark so as to benchmark community share offers such as ours against the highest UK standards. Our documents had to be submitted for assessment and scrutiny by experts before being awarded the Standard Mark – a process which was in itself instructive and generated much useful advice. The Standard Mark is a good indication of the rigour and care with which the Share Offer has been devised and explained.
If you have any further questions not answered here, please feel free to contact our Treasurer on 01286 830640 or firstname.lastname@example.org