Our Community Project

Delivering gigabit broadband to everybody in our community

Community Shares

How you can support our community project

If everybody who has applied for a voucher bought just £350 worth of Community Shares we would have enough community funding to build our gigabit broadband network.

 

Why do we need people to buy Community Shares?

For our community to build a full-fibre broadband network to deliver world-class gigabit broadband to everybody we need to raise a total of about £1 million. The good news is that 90% of this will come from the government through the Gigabit Voucher scheme but the funding from each voucher is not released until after the property that applied for the voucher is connected to the network and is receiving a broadband service. To fund the cost of starting to build the network and make the first few connections we need to raise 10% of the total cost from within our community by the sale of Community Shares.
 

Reasons to buy Community Shares

The advantages of buying Community Shares are:

♦ There is an annual return of ........ 5% paid on the value of your Community Shares
 
♦ All of the money raised by the sale of Community Shares will be used to fund the building of our network. On the application form enter the name of the network you wish to fund by entering either 'Backford' or 'Mollington'

 
♦ Members of the community who buy £1500 worth of Community Shares will not have to pay the £150 connection fee when their home or business is connected to our network
 
♦ £100 worth of Community Shares is the minimum that you can buy to support our broadband project
 
♦ When you buy Community Shares you are making a significant contribution to improving the broadband for everybody in our community

What are Community Shares?

Community Shares are a way in which members of our community can loan some money to our broadband project. Shares are bought from the B4RN community. Each share .......... costs £1 and the money raised from the purchase of Community Shares will all be used to fund our community broadband project. The value of Community Shares does not change, and they can only be sold (after at least 3 years) back to the B4RN community. To encourage members of the community to buy Community Shares and as a reward for demonstrating a commitment to our project the Community Shares earn an annual return of 5%.
The B4RN community which we are a part of is registered with and is regulated by the Financial Conduct Authority (FCA) as a ‘Community Benefit Society’. This means that the B4RN community does not make a profit. Any surplus funds have to be returned to the community and used to benefit the whole community.
View the Community Shares prospectus
The Community Shares application form

Making a pledge

For those people who do not want to commit to the purchase of Community Shares until you are sure that the network is going to be built you can now pledge to buy Community Shares. To make a pledge, simply go through the process of buying Community Shares and at the top of the form print the word “PLEDGE”. The purchase of Community Shares will then be delayed until the building of the network begins.
 

The details

Community Shares have no potential for capital gains and will only be redeemed at face value. For the first three years the investment cannot be withdrawn. Annual interest will be paid at a rate which will be determined by the Board after considering B4RN’s financial position and FCA rules. At present the target rate is 5% which is paid in the form of additional shares. ........
After three years investors may apply to withdraw their investment. B4RN puts aside an amount each year to fund these withdrawals, however the amount available will be subject to B4RN’s trading position and will be at the discretion of the Directors, so there is no guarantee that there will be sufficient funds put aside in a particular year to meet all demands for withdrawal. First priority will be given to those investors wishing to withdraw the interest payments they have received in the year. These will always be paid if requested. Any remaining requests will be handled on a first come, first served basis until the withdrawals fund is exhausted.

Note: There are risks associated with buying Community Shares so you may feel it appropriate to take professional advice before you buy.