Donate to the Portland Works Renovation

Buy Shares in Portland Works

You can still become a shareholder of Portland Works. Share applications of up to £1000 are being taken. Over 500 individual shareholders have raised over £300,000 in community shares so far.  You become a co-owner and voting member of our community.

Our aim is to renovate and manage Portland Works as a social enterprise. Currently we are funding the renovation works ourselves, using volunteer labour to make our cash go furthest. Becoming a shareholder gives you ownership and involvement, and helps us with the renovation.

Shares have a fixed value of £1. The minimum holding is 100 shares, the maximum is 100,000 for any individual. Although we aim ultimately to pay interest on share capital, this will not exceed inflation and will not happen anyway for some years. Your investment is social rather than financial. Each shareholder has one vote at general meetings regardless of shareholding.

If you wish to buy shares you should read the Share Offer document. We are also required by the FCA to offer you the Rules of the Society. When you are ready, click below to download and print the application form. This needs to be completed and returned to us before you pay using the bank transfer details noted above.

Existing Shareholders and planning for your future

Shareholders, please consider your wills and take a moment to confirm how would you like your shares to be dealt with in the event of your death. Sadly a few of our shareholders have died and knowing what they wanted to happen to their shares has been a considerable help.

You don’t need to alter your will to do this – you can simply complete a codicil form to keep with your will. The form can be downloaded below and please note that, as with all will-related matters, individuals should consult their solicitors before completing.

• Download Codicil – Statement of Wishes

As a shareholder, you have three options:

1. Surrender some or all of the shares back to the Society. This means the shares are cancelled and the original “investment” will effectively become a donation to the Society – which might be what you intended when you originally bought the shares.
2. Transfer some or all of the community shares to another person. This option is available only on your death, not in your lifetime. It allows the beneficiary to maintain a continuing social investment in the Society and help to continue its work.
3. Withdraw some or all of the shares. The directors can declined requests to withdraw, but have been accepting withdrawal requests following the death of a member. The amount currently payable on withdrawal is a maximum of £1 per share, although it can be reduced below this amount in circumstances allowed by the Rules.

Finally, you may consider surrendering your shares now. If you do this we’d leave you with one nominal zero-interest voting share.  Contact us directly if you wish to do this, many people with smaller holdings (e.g. £100-£200) have done this already.

Please let us know you what your wishes are – it helps our financial planning.

Further Reading

Our Annual report is well worth a read, and our Business Plan is available on request. Each will give you more detail on the project and its financial basis. Also, if you have never invested in a community share issue before, we recommend that you read the guidance document entitled:‘What are Community Shares’, which was compiled by Co-operatives UK and the Development Trusts Association, now called Locality.

• Community Shares – Action learning research project
• The Coop website
• Read about us in NEW START online magazine.
• See us at  The Shares Coop – a new online marketplace for Community Shares