The Community Shares Company guided us through a complicated rule change with the minimum of fuss, then wrote our offer document that helped to secure £200,000 of funding towards the construction of a 3G pitch. This project represents a major step change towards long-term sustainability for our club and the Community Shares Company has been vital to our success.Lewes Football Club
- They wanted to build a 3rd generation artificial pitch for the community to use which would earn revenue all day, every day, and provide a much-needed reliable, safe and top quality facility.
- They had secured various grants but needed to make up the difference of around £200,000.
- The club was already a Community Benefit Society but their rules didn’t allow them to issue shares. Rather than a complicated set of amendments which would have been confusing to members, we rewrote their entire rulebook and oversaw an online ballot of their 900 members. We needed at least half of the members to vote for the changes to go through. Over 60% voted, with 99% in favour.
- We helped develop the business plan to ensure that the projected profit was both robust and attractive.
- We ensured the offer would be eligible for Enterprise Investment Scheme tax relief.
- We wrote the offer document and worked with the club on getting it placed on the Microgenius platform, which provides an easy online system to get people’s investment. As a condition of being listed on Microgenius, share offers must be in line with the Community Shares Unit best practice. We liaised with the CSU team to get the offer compliant.