Following another successful public meeting, the Crymych Football Club members prepare now to launch the community share offer to buy the Crymych Arms pub with an information open day at the pub on the first of April.
There will be an opportunity to pick up a share offer prospectus documents and learn about the plans to offer an annual 3 per cent dividend/interest to investors.
The main committee of the football club and the purchasing sub-committee have been working hard to ensure the new FCA cooperative will have achieved its aim of raising a minimum of £175,000 with a minimum share purchase of £100.
The public meeting on March 20 was chaired by Martin Lloyd. A presentation was given by Cris Tomos of PLANED who explained how many people were disappointed that the UK Chancellor, Jeremy Hunt will in early April be scrapping the tax investment incentive called Social Investment Tax Relief (SITR).
Cris explained: “The scraping of SITR on April 6 is disappointing as qualifying investors would have had 30 per cent of their investment returned as a tax relief. We have spoken to industry advisors and there is a very short window for applying for the scheme, but anyone wishing to participate will need to deposit their shares for buying Crymych Arms in our bank account before April 5.
“we will be working hard to try and support investors to gain the 3 per cent tax relief on their investments who have deposited by April 5 but we will have to await responses by HMRC, therefore it is not at all guaranteed.”