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New shareholders join Community 21

14 Apr 15

This week Community Sector Banking’s 50% shareholder Community 21, a consortium of not-for-profit organisations, announced that it has reached the minimum subscription level required to move into its next phase of capital raising and issued shares to 21 not-for-profit investor organisations.

This completes the first phase in this historic share offer, exclusive to not-for-profit organisations, being undertaken by one of Australia’s most successful social enterprises. Community 21 will now continue to raise capital until June 30 and is still inviting investment.

“Community organisations have amazing resilience, our new shareholders have over 850 years of experience working within social justice, environment or social service arenas. From one of Australia’s oldest welfare organisations to state based peak bodies and housing providers; from organisations focused on Indigenous issues through to those with environmental aims; Community 21 has been delighted by the quality and spread of the organisations that have applied for shareholding,” Community 21 Executive Director, Peter Quarmby said today.

“The mix is fantastic and means that Community 21 has a broad knowledge base to draw on for research and development in our work advancing the financial future of the not-for-profit sector,” stated Chair and Community Sector Banking Director, David Thompson AM.

“Our primary asset, Community Sector Banking, is having a better than forecast year and as such, a minimum subscription level of $700,000 was resolved by the board to be sufficient for the first injection of capital and to move on to the next phase,” Mr Thompson concluded.

“We now go straight into our second phase, and we are inviting shareholdings starting at $2,000, making it affordable for all organisations. We’d like to boost our ability to represent the sector, and that means inviting even more diversity. Forward looking organisations large and small are invited to help us work towards a better future for the sector we all work in,” Mr Quarmby continued.

Most of the capital raised will continue the not-for-profit sector’s longstanding 50:50 partnership with Bendigo Bank, and be injected into the crowdfunding and banking platform act. launched late last year by Community Sector Banking.

“After being launched as a world-first, act. has been warmly received with more than half of its initial projects meeting (and in some cases exceeding) targets within the allotted time. It has just reached the $20,000 milestone in raised funds. The team behind act. is now working hard to build on this excellent start,” Mr Quarmby concluded.

The new not-for-profit shareholders in Community 21, joining the 20 founding not-for-profit shareholders, are:
• Infoxchange
• Cape York NRM
• Microlend Australia Ltd
• St George Community Housing
• National Affordable Housing Consortium
• Animal Management in Rural & Remote Indigenous Communities (AMRRIC)
• Tasmanian Council of Social Service (TasCOSS)
• Westgate Community Initiatives Group (WCIG)
• WA Council of Social Service (WACOSS)
• Haven; Home, Safe
• The Bendigo Diocesan Trust Corporation
• The Benevolent Society
• Australian Conservation Foundation
• The Disability Trust
• National Shelter
• ACT Council of Social Service (ACTCOSS)
• Dogs’ Refuge Home (WA) Inc
• Housing Trust

Founding not-for-profit shareholders Able Australia, Skill Centred Queensland and Jobs Australia have also increased their holdings in Community 21.

Between now and 30 June Community 21 will be holding and contributing to events around the country and online to extend their shareholding invitation far and wide. For more information on the Community 21 share offer, head over to community21.com.au.

This article relates to an offer of shares by Community 21 Limited ACN 097 612 416 (C21). A prospectus containing the offer is available atwww.community21.com.au/prospectus or by calling (02) 4255 8433. You should read the prospectus in its entirety before deciding to complete and lodge an application form. In particular, you should consider the risks of making an investment in C21 which include risks that:
(a) you may not be able to sell your shares if your circumstances change; and
(b) dividends may not be paid and you may lose the capital you invest.