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Next thread: The new CIC… by ManorParkBlue8/2/2024 08:15Thu Feb 8 08:15:19 2024view thread

Re: FC United of Manchester - Community Benefit Society

By VoR10/2/2024 10:07Sat Feb 10 10:07:02 2024In response to Re: FC United of Manchester - Community Benefit Society

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As an aside, setting up as a CIC could present difficulties for the Supporters Co-op membership, brought about by their legal responsibilities.

It appears that the CIC that Dan proposes to hand over to the Co-op is a Private Limited Company, limited by Shares.

Shareholders are a means of raising capital & in a CIC & they are entitled to a share/an amount of profit raised, which is subject to an asset lock.

This means there is a dividend cap on the amount that they can receive, to prevent any individual exploiting the CIC for personal gain.

Footnote:

I believe that Andy Walsh was the General Manager at FCUM.

Edited by VoR at 10:07:59 on 10th February 2024
Edited by VoR at 10:08:25 on 10th February 2024
Edited by VoR at 10:08:43 on 10th February 2024

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