We couldn’t be happier to be publishing this update on our progress.
Personally, I hope you will also take a look the video we are launching this week to promote what we do in Tywardreath. It sums up why, for me in particular, this is such a special business and place to live. (Trudy)
It is entirely thanks to the vast amount of unconditional encouragement, kindness and useful actions taken by local people to support us, and funding us with your pledges, that we are now confidently sharing the following decisions and news with you;
Only the people who pledge before the 16th of September will be eligible to buy shares or convert their loan into a shareholding in Hunter Grange Investments Ltd when we are ready to start issuing shares.
We will not be accepting the corporate investment for £2m that we have been offered, or selling our shares to them, they have instead booked in for coaching workshops when we take over Elmswood. We can’t foresee ever needing any corporate shareholders we would rather they were clients of our coaching work, learning from our social enterprise activities in the village. We can fund our ambitious plans from individuals pledging and by earning the money ourselves together with our local community of like-minded enterprising individuals.
We were determined that our shareholders should only be individuals, especially the people who pledged from the beginning and local people who work in the business with us to reward everyone’s loyalty.
The shop purchase is due to complete on the 23rd of September, if not before. We are aiming to raise a total of £500,000 from individual pledgers. If there is a shortfall in funds to buy the shop and Elmswood we will raise it from a secured short-term commercial loan to finalise the purchases.
After the 16th of September, the cut-off date for pledgers who want the option to become shareholders, the annual interest rate for new pledgers will also be reduced to 3%. This money will directly invest in the local people we are supporting to run their own business in the shop and Elmswood.
Friendship is running this business. We are surrounded by so many local people and friends of friends who work with us and pledged to fund our ambitious plan.
There is no doubt that the comradery between a great community working for a common goal to benefit everyone who lives here is more powerful, effective and has greater growth potential and longevity beyond what a City investment into our corporate coaching work would have achieved.
We are very proud to have stuck to our resolve to raise the money from people who love living here, and care like we do about the future of this village.
Thank you for all you have done to support us so we can purchase properties for the benefit of our community. You’re also helping us help other local people to set up their own business and guide them on their journey – that’s as important for the future of this village as securing the shop and Elmswood House. The next phase of our business development will focus on managing the properties and supporting the growth of local small ventures working alongside us and measuring our social impact.
We live in a very special village, and anyone who went to Tom Larkin’s wedding could see why we value our local friends and want to work with them, supporting their small businesses. It was a truly locally sourced, homemade wedding with many of the guests being not just their friends but also the people who supplied Tom and Laura with everything they bought for the wedding – from the rings, food, flowers, decorations, entertainment, and lots more that was made,borrowed or done by family and friends to make their day a very memorable special occasion. There are a lot of talented people in this village who put on a great wedding together, who will also be involved with supplying the shop and Elmswood. The wedding was such a good example of what this village and our social investment plans are all about, we have asked a freelance writer who lives in the village to write an article about it and we will publish it on here in the next week to share the story with you.
If you know anyone who has been biding their time to make a pledge and who wants the opportunity to own a shareholding in our company, which will own local business premises and support micro ventures for the long term benefit of the community.
They need to pledge before the 16th of September, even if it’s for the minimum pledge amount. Future pledgers will get all the benefits you get, but with a reduced 3% interest rate and without the guaranteed right to buy shares.
We look forward to seeing many of you in the village in the coming weeks and can’t wait until the end of September when Tom starts running the shop.
Trudy Thompson and Josh Taylor