Shares Buyback (and Donation) Scheme
Exeter Street Hall’s management committee is introducing a new buyback scheme to enable shareholders to sell shares back to the Society that runs the Hall. The scheme, which starts in January 2022, has to be affordable, so in any one year only a small amount of money will be made available for this purpose. If demand to sell shares exceeds the amount available then a fair allocation formula will be used. In addition, there is a new option to donate shares to the Society.
Here are the two documents that explain the scheme.
The first document describes what the scheme is and how it will work:
The second document is a spreadsheet with a set of worked examples, showing what happens if different numbers of shareholders ask to sell various amounts of shares when there is a fixed limit on the amount of money available to buy them:
Applications to withdraw shares can be made during the month of February 2022. In March the management committee decides, on the basis of the scheme’s fair allocation formula, how much money can be paid to how many shareholders. Payment will be made by bank transfer.
To make an application to withdraw shares, download the share withdrawal application form:
and send it to the Hall no later than Monday 28 February.
As an alternative to withdrawing shares (e.g. if you have moved out of the area) you can donate shares to the Society. If you wish to donate shares please download the share donation application form:
You can donate shares at any time.
If you have any questions about the scheme, email [email protected]