Pier share scheme total passes the £100,000 mark

Hastings Pier
Hastings Pier

THE scheme which will enable members of the public to have a say in the running of the pier has passed a major milestone.

The value of shares sold as part of Hastings Pier Charity’s Community Share Scheme topped £100,000 on Wednesday (October 23), a fifth of the £500,000 target.

Hastings Pier Charity CEO Simon Opie said: “To each and every one of our 557 investors so far - thank you so much.

“You have helped us break through the £100,000 barrier and that’s a tremendous achievement.

“The more so in such a short space of time.

“So congratulations to you too, and please do all you can to encourage others to join us.”

Of the money raised from the scheme, £200,000 will go towards completing the works, and £300,000 towards some new attractions for the pier, which will include a microbrewery, and children’s playground.

The £13.9 million project is due to be completed in 2015.

More than 550 investors have signed up for shares since the scheme launched on October 5, three years to the day since the Grade II listed structure was ravaged by fire.

The offer to invest is scheduled to close at midnight on January 4, 2014.

The minimum investment is £100, and the maximum is £20,000, but all shareholders will have a single vote regardless of the amount of money invested.

No shares will be issued or money taken until the target amount is achieved. All investments should be eligible for tax relief which means 30 per cent of the total invested can be recovered.

To find out more about the scheme or to buy shares visit www.microgenius.org.uk/project/hastings-pier-15.