Thanks to our 124 inaugural shareholders
Thanks to all those whose generous purchase of shares helped us bring the old shop back to life. The share offer ran in 2024 and raised £7,350.
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You can read more about this terrific outcome here.
Perranwell Community Stores has gone from strength to strength thanks to you, the wonderful residents of our village. We are very grateful to you, whether you became a shareholder, have helped out as a volunteer, or simply support us through your custom. You have all helped make this enterprise something we can be proud of.
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Any adult living in the Perranarworthal Parish was eligible to purchase one or more shares (maximum of 10), with each shareholder having only a single voting right regardless of how many share batches they own.
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In addition, the 109 people who originally donated £50 or more to help the Community Stores project get off the ground were each offered a complimentary batch of 50 shares.
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What are the benefits of being a shareholder?
Unlike regular shares, there is no annual dividend with these and you cannot sell them on to third parties. But there are many great reasons why many of you 'grabbed a slice' of our enterprise during this period. Shareholders:
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Own their own slice of this valued community asset.
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Enabled us to realise the dream of reviving the original village shop.
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Vote for the chairperson, director and a committee member running the venture every two to three years, and make other key strategic decisions about the store at twice-yearly shareholder meetings.
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Choose the recipients of an annual Community Improvement Donation we will make to a worthy village cause.
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Are entered in a twice-yearly shareholders draw to win a cash prizes of £25 up to £150.
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We are so grateful to all those who took this chance to play a part in the future of our community store and are excited as we, the current committee, are about putting this precious village service on a firm foundation for generations to come.
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David Podd (Chairman) and the Committee,
Perranwell Community Stores
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You can read the essential information about the share issue process here.
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Share issue essentials
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250 batches of shares in the new Community Benefit Society (CBS) were released.
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Shareholders must be residents of Perranarworthal Parish.
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First come, first served!
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Each batch of 50 shares cost £50 (and so comprised 50 x £1 shares).*
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Individuals could buy up to 10 batches.
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They went on pre-sale to current shop volunteers at the current Community Stores from June 1 2024 and to all the residents of the parish from June 8.
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In addition, those who donated £50 or more when the stores company was originally set up were offered one complimentary share batch (worth £50).
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Each shareholder has a certificate of ownership.
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Shares cannot be sold to a third party but may under certain conditions be sold back to the CBS.
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Shareholders will elect the CBS officers for terms of 2-3 years and vote on key strategic decisions.
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A share of profits each year will go to a worthy cause in the village.
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There are no annual dividends but shareholders are entered in a twice-yearly cash prize draw, with a top prize of £150.
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*Residents might feel that the more logical option would be to offer single shares each costing £50 rather than batches each comprising 50 x £1 shares. But the latter is the recommended approach to receiving FCA regulatory approval which we must have as a Community Benefit Society.
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Useful backgroound documents:
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