The BACBS first share offer launched in October 2017 raised £505,000 from 280 members to buy the Abingdon Arms for the community.
Anyone who has purchased Shares (a shareholder), and been entered on to the Register of Members, is a Member of the Society (a “Member”).
Members have the opportunity to attend and vote at Annual and other Members’ Meetings, and to participate in the election of the Management Committee, all as set out in the Rules.
Joint Members are those whose Shares are registered in the name of more than one person.
Joint Members have only one vote between them. Only the first named Joint Member may cast that vote.
Joint Members may jointly request the Society (via the Secretary) to change the name appearing first on the Register of Members.
If Joint Members wish to have a vote each, they may also jointly request the Society to split their joint shareholding (provided each split shareholding will meet the minimum shareholding required by the Rules, being 5 shares at £50 per share).
MEMBERS WITH VOTING RIGHTS: SUMMARY
Single Members and the first-named of Joint Members are entitled to vote.
Community Benefit Societies are, by law, intended to be democratic organisations. As set out more fully in the Society's Rules all Members with voting rights will have a single vote, regardless of the size of their shareholding.