A huge thank you to everyone who’s visited our website and joined our newsletter following The Radnor Arms Share Offer Pre-Launch Weekend! It’s been a busy time for the committee since the sun shone on Broad Street and pints were poured at The Radnor Arms at our pop up earlier this month.
What's been happening since The Radnor Arms Share Offer Pre-Launch Weekend? Here's an update
The Community Benefit Society have been up to lots behind the scenes since The Radnor Arms Share Offer Pre-launch Weekend and here's a few things to update you on. We’ve been finalising the details of our Share Offer document and have been working with the Community Shares Standard Mark assessor to achieve the issue of the Standard Mark.
What is the Community Shares Standard Mark?
The Community Shares Standard Mark is awarded to community share offers that meet national standards of good practice. It’s a nationally recognised body that ensures that our Share Offer document is transparent, clear and factual.
It’s also a really key stamp of approval for further grant applications, larger investors and brings confidence in the community that we have reached national standards in our work. Once we’ve got the green light from the Standard Mark Assessor, The Radnor Arms Share Offer can launch!
Over the past few months we’ve also been in meetings with the Community Ownership Fund, the UK government body who have given The Radnor Arms Community Benefit Society a £240k grant.
What is the Community Ownership Fund?
The £150m Community Ownership Fund (COF) is for communities across the UK to help them to take ownership of assets at risk of closure. The COF is part of the £4.8 billion Levelling Up Fund which invests in infrastructure that improves everyday life across the UK, including regenerating high streets and investing in cultural and heritage assets.
To draw down the full amount of £240k awarded, we need to match £200k pound for pound! We need to raise the match funding to claim the grant through The Radnor Arms Share Offer issue we’re about to launch.
MP Fay Jones supports The Radnor Arms Share Offer launch
The Brecon and Radnorshire MP Fay Jones supported our community by promoting The Radnor Arms share offer launch earlier this month.
In the Brecon and Radnor Express, she said: “We all know that pubs are the heart of rural communities like ours. The Radnor Arms, bringing it back to life will be a huge boost for the area."
“We're now looking at the next phase, with shares being made available to members of the community to come and support the pub. So please do come and get involved. Support the pub, buy a share. You'll be so proud of the fact that you have a stake in the most fantastic community asset that is being created.”
The Share Offer will be launching very soon! Help save The Radnor Arms by becoming a shareholder and investing in its future.
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