You are warmly invited to attend the Oban Communites Trust A.G.M. on Wednesday 29th November, 7pm at The Rockfield Centre Community Hut.
Mulled wine and mince pies will be served!
This will be a chance to get together and reflect on progress made over the last year.
It will also be an opportunity for members to vote on a proposed change of legal status for the Trust, which will enable it to raise money through community shares.
Oban Communities Trust current legal form, a company limited by guarantee, does not enable it to raise money through community shares. To do this, it must become a Community Benefit Society. Below is some information about how the Trust is proposing to go about this.
By changing its legal status, OCT will follow examples of a growing number of community enterprises to raise investment capital through a community share offer, part of the funding strategy to open the Main Building.
This option has been carefully considered with research and advice from Community Shares Scotland who have agreed to continue support the Trust with the legal process required.
To enable this to go ahead, the Directors/Trustees are requesting that the membership approve the following resolution of conversion to a Community Benefit Society.
“It is resolved to convert to a community benefit society adopting the rules attached to the resolution, and authorise the company secretary and the two other directors who complete the registration documentation on behalf of the company to undertake any amendments to those rules the FCA may request as part of the registration process.”
Current members of Oban Communties Trust will automatically transfer to the Society. The new entity, Oban Communities Trust (Community Benefit Society), would maintain charitable status with no change to the current objects, which are as follows:
(a) the advancement of community development in Oban Area of Argyll defined as Postcode areas PA34, 35 and 37;
(b) the advancement of the arts, heritage and culture;
(c) the advancement of education.
During the AGM our guest speaker, James Hilder, will share his experiences and knowledge on the benefits of community shares to the membership from a recent successful share offer. Those present will also have the opportunity to ask any questions.
In the meantime, you can learn more about community shares here.
We hope to see you all there!