The scheme provides flexibility for shareholding Members to reduce their shareholding, and for other people to increase their shareholding.
1. If a Member wishes to reduce their shareholding, and people want to buy the same number or more of shares, the Directors will buy back the shares from the Member and immediately sell them to new people who will become Members.
2. If adults want to buy shares for children or grandchildren for when they grow up, the adults can buy the shares, and when their children or grandchildren become 16 years old, apply to the Directors to withdraw their shares and take a reimbursement. The Directors will then resell the shares to the 16 year old.
3. Because children under 16 cannot own shares, if a group of children aged under 16 years, want to club together to pay for shares to the value of £50 or more, an adult has to apply for and own the shares.
e.g. if a school supported pupils in their wish to raise funds for the Hall, an adult such as the head teacher could be the named shareholding Member. If the head teacher later left the school, the outgoing head would apply to the Directors and take a reimbursement. The Directors would then resell the shares to the in-coming head.
If you wish to take advantage of the share matching scheme please contact [email protected]
The scheme complies with the governing Rules of Exeter Street Community Hall Ltd.