If you’re a newer Member-Owner, here’s a little background about our investment opportunities. Prior to opening, Member-Owners who wished to invest additional capital into the Co-op were able to purchase Member-Investor Shares. Black Star Co-op had two offerings of Member-Investor Shares: one in 2008 and the other in 2010. These Investor Shares paid for staffing during the build out, construction costs, and start up capital needed for our brewpub. Shares were available for $100 each, with a possible annual dividend capped at 8% by State and Federal laws. Recently, the Board of Directors declared its first non-zero dividend for fiscal year 2012, providing Member-Investors with a 5% dividend on investments.
This year some of the first Member-Investor Shares matured, and some investors requested the Co-op repurchase their shares. As the Co-op is able to repurchase these shares, the Board of Directors feels it is in the best interest of the Co-op to maintain the existing level of Member-Investor Share equity. Therefore, the Board of Directors has resolved to reissue Member-Investor Shares that have been repurchased by the Co-op as Treasury Shares available to new Member-Owners and current Member-Investors wishing to increase their investment. To this end, the Workers’ Assembly created a resale program, which establishes a waiting list of interested Member-Owners, contact information, and the number or range of shares they desire to purchase. Currently we have a limited number of Treasury Shares available. However, as more investors ask the Co-op to repurchase their investments, more Treasury Shares will become available for purchase.
Treasury Shares, like Member-Investor Shares, are $100 per share, with maturity dates 5-7 years from the date of subscription, based on the preference of the Subscriber. The Co-op is looking for minimum investments of 10 shares. Shares do not carry any voting rights beyond those already held by Member-Owners.
If you are interested in making an investment or want to receive more information about Treasury Shares, please contact us at firstname.lastname@example.org.