FAQs

An initiative that works on behalf of the community. It’s not an individual (or syndicate) that profits and makes decisions, but everyone. Every investor has one vote, irrespective of the amount of shares bought.

To ensure the school stays at the heart of the community. The Ysgol Cribyn Community Benefit Society seeks to ensure that Ysgol Cribyn continues to be a place where the community can come together to co-learn, co-create and to promote and protect our culture. The school will answer to the needs of the community and provide a space for it to come together, a focal point for community strengthening.

By filling in an investment form either online or on paper. The paper version is available as a part of the Share Offer book, (contact us for a copy) and the online version is available on our Facebook page and website.

One share costs £1. The minimum amount you can invest is £100 and the maximum is £25,000. We can accept any sum between £100 and £25,000.

You can pay either by cheque payable to ‘Llanelli & District Credit Union Ldt’ and send them to Ysgol Cribyn d/o, Uned 2, Bryn Salem, Felin-fach, Dyffryn Aeron, Ceredigion, SA48 8AE, or by bank transfer:

‘Llanelli & District Credit Union Ltd,’

Sort code: 30-95-14,

Account number: 00036705,

by using 10343 and then your initials and the last three digits of your phone number as a reference.

If more than one person in your household is investing in shares at the same time, you can make one single bank transfer if you wish. If you are paying for shares on behalf of someone who lives at a different address, you will need to make a separate bank transfer so that the reference on the payment matches their own address.

Yes, you can buy shares between more than one person. However, if you are investing more than £100 it’s worth considering dividing them between the people concerned. That way you each become a member of the Society and you each get an individual vote in our AGM. Separate shares are also beneficial to the Society as when we apply for grants, a high volume of shareholders is great evidence for how widely the project is supported.

Yes, you can purchase shares on behalf of someone else as a gift. Please fill in an individual form on their behalf. If they live with you (a child over 16 for example) you can make one single bank transfer for the total household investment. But if they live at a different address, you will need to make a separate bank transfer so that the reference on the payment matches their own address.

Yes, please fill in the relevant fields in the investment form. They will not be full members and will not be able to vote in our AGM until they are 16 years of age.

Yes, complete the relevant section when filling out the investment form.

The share offer is for everyone. We recognise that the share offer will appeal to locals and people from elsewhere who believe in the mission of Ysgol Cribyn and want to support the cause. We want to attract investment and support from people all over Wales and the world!

Yes, we welcome support from shareholders from all corners of the world! But please make sure that you arrange the bank transfer payment in GBP/Sterling so that we receive the full value of the shares purchased.

You will be able to buy shares more than once within the 6-week share offer window. This current share offer closes on 5th of May 2024.

When you fill in the online investment form you will receive a confirmation email with a summary of your details. If you haven’t received it, check your spam folder. If ever in doubt, simply contact us on ysgolcribyn@gmail.com. Share certificates will be sent either by post or email to all investors.

Only the Steering Group Treasurer and the project’s Development Officer will see how many shares anyone has invested. Information regarding individual shares will not be public knowledge.

It may be possible for taxpayers to get a 30% refund on the cost of shares under the Enterprise Investment Scheme (EIS). But it will be up to HMRC to follow up on that or not. Although the Society has taken steps to ensure that nothing in this share offer, or in the way the funding will be received, is used contrary to the rules of the EIS (and has sought assurances from HMRC on that basis) it assumes no responsibility for any failure by individual investors to recover tax in respect of their investments. Furthermore, it will be their sole responsibility to ensure the accuracy of their tax status provided by them at the time of investing.

Community shares are capital that can be withdrawn – but not before the end of the first 5 years of the venture. After that it will be possible to warn the Association of the wish to withdraw the investment. Further details can be found in chapter 11, clauses VI and VII of the Share Offer.

Yes you can. The change of name will need to be registered by the Society.

No. Your shares can only be re-purchased by the Society in line with its withdrawal guidelines. They will only be redeemed at the price which was paid for them.

The Society does not offer security for those buying shares. However, If the venture were to be closed down, it would be possible to sell the assets and return capital to members up to the value of the original investments, after all other debts had been paid.

Our aim is to raise £75,000 through the share offer, which is open to the community and the general public. We will use the money raised, alongside grants we hope to get from other sources, to buy the school and invest in the building.

We may run another funding campaign to try and meet our target. If we are unsuccessful again, the Society will have to re-consider the project in terms of its length, breadth and ambition. If the Association is unable to purchase the building, all shares will be refunded net of the costs incurred.

With luck, we hope to ensure the purchase at the start of summer 2024, renovate throughout the rest of year and aim to reopen in spring 2025.

For the latest updates, follow us on Facebook, Instagram or subscribe to our newsletter, ‘The Cribynian’ (email ysgolcribyn@gmail.com to subscribe or follow the link on our website).

At the end of January 2024 Ceredigion County Council’s cabinet put the property up for sale to the Cribyn neighbourhood at a price of £175,000. A period of 6 months was granted for confirmation of intention and ability to purchase. After that time the authority will have the option of offering the school for sale on the open market.

If you have any further questions not answered here, please feel free to contact our Development Officer on 07975616882 or through email: ysgolcribyn@gmail.com.