Community Pub Shares Offer

We have been posting regular updates from the Cross Keys community venture at Hayscastle Cross which hopes to purchase the local pub for the community. Here’s the latest news from the project:

The Business Plan and Share Offer Prospectus have been finalised and shares are now available to buy.  Please help to save our pub by investing in shares.

Shares will be available to purchase until 7 May. The Society reserves the right to extend this opening period to 21 May should it be considered necessary to achieve the target share capital.

Buying shares will make you a member of the Society and will give you a say in how it is run. Each member has one vote, no matter how many shares they buy. Shares will cost £50 each. The minimum shareholding is £250 (5 shares) and the maximum is £25,000 (500 shares).

The aim of the share offer is to raise a minimum of £200,000 with an optimum target of £250,000 and a maximum of £300,000. The minimum has been chosen because it is the lowest value at which the project remains viable although it is highly contingent on achieving grant funding to reach the overall target.

The optimum target of £250k represents a solid figure which we think is achievable and which mitigates our dependence on grant funding and improves the available capital reserve. The maximum of £300k would enable us to purchase the pub outright with grant funding required only for the upgrade scope and first year working capital. The total cost of the project, including the cost of purchasing the property along with redevelopment, is estimated to be in the region of £468,475.

 Copies of the share prospectus and share application forms are available to collect from the pub. They are also available on www.ycrossinn.cymru.

While shares will be available to purchase up until 7 May, there is potential to obtain tax relief on investments made before 5 April. SITR (Social Investment Tax Relief) is a scheme under which qualifying investments may be eligible for tax relief of up to 30% of the investment value subject to approval by HMRC. However, this scheme ends on 5 April so shares purchased after this date will not be eligible for tax relief. How to apply:

  • Obtain a copy of the share prospectus and share application form from the pub or from www.ycrossinn.cymru

  • Read the share offer prospectus in full. 

  • Further information is contained within the business plan

  • Take independent financial advice.

  • Please only invest what you can afford.

  • Complete the share application form.

Send your completed, signed and dated application in a sealed envelope addressed to;
Y Cross Cas-lai Community Benefit Society, c/o The Cross Inn, Hayscastle Cross, Haverfordwest, SA62 5PR.

Kitty Parsons

Kitty has forgotten how long she has been here now but she loves Pembrokeshire for its beauty and it's people. She spends her time searching out stories for pembrokeshire.online, swimming in the sea , drawing and painting as Snorkelfish and eating cake. She says "Pembrokeshire.online has been an opportunity to celebrate this beautiful county and its people. Keep the stories coming. We love to hear from you."

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