BECOME A MEMBER
Before you buy shares in Sister Midnight, we recommend that you read our Share Offer, Business Plan, and Society Rules, so that you understand the terms & condition
What is Sister Midnight?
Who can buy shares & become a member?
What are Community Shares?
Sister Midnight is a Community Benefit Society - a type of co-operative organisation that is owned and democratically run by its members.
Anyone can become a member by buying shares in Sister Midnight. One share is £100, but if you apply to our affordable shares scheme you can become a member from £25.
Community Shares are, legally speaking, withdrawable shares in a community benefit society, but they work a lot like a savings account. When you invest in community shares, you'll become a member of our society, and we'll use the capital you've invested to meet our organisation aims - which in this case is creating the first community owned venue in Lewisham.
We'll pay a modest rate of interest on your investment, and once we're up and running, you'll be able to get your money back (providing we're doing well as a business and have sufficient trading surpluses!) You can't sell your shares to someone else, and they won't ever increase in value, but they're a fantastic way to support community businesses like ours.
What do Members Get?
• Ownership of our venue & the societies assets, alongside our other members
• A vote at our AGM, and on other important issues facing the society
• The chance to elect and be elected to the Board of Directors
• 3% interest paid on your shareholding, which we're aiming to pay from Year 2 onwards
• The ability to withdraw your share capital and get your money back, with capital being made available for withdrawal from Year 3 onwards
• SEIS/EIS Tax Relief of 30-50%
Where will the share capital raised be used for?
We're aiming to raise £500K to open our new community owned music venue in Catford. We've secured a site on a 10 year rent free lease, but we need to cover all the costs of renovation & fit out, and this is what we're fundraising towards!