4CG assets near £1m
10:54am Monday 5th May 2014 in News
The Cardigan based community cooperative 4CG Ltd has announced a 3% return to investor as the company assets grow from strength to strength.
The recent AGM confirmed the assets of the company were now approaching £1m with local people putting in £284,400 as share investment. The individual shares continue to be available and during the financial year end of 30th of September 2013 an additional £60,000 of shares had been bought by local people. Shan Williams the chair of 4CG Ltd said, “We have sold 1,422 shares to 723 individual shareholders and it is encouraging to see so many local people buying into and supporting the community aims of the organisation”
4CG Ltd bought the old Pwllhai car parks and stores in December 2010 and since then has had further support from community shareholders and Peer to Peer loan schemes to by the old Cardigan Police Station, the old court house and the Bronwydd House residential flats. Shan noted “We are now seeing all of the cooperatives properties being rented out with additional income from the 30p short s stay car park. This has allowed us to reward local investors with a very competitive 3% return on their investment. Last year we gave 2% and it is hoped that we will continue to increase the return on investment to locals to ensure we are as competitive as possible. Our aim is to ensure local people can invest in the future of their local community to see 4CG Ltd supporting local enterprise by working with expanding businesses and emerging new enterprises in Cardigan. All this while local investors also gain a competitive return on their investment”
The shares associated with 4CG Ltd continue to be available and anyone interested need to visit their website www.4cg.org.uk to gain more information.