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16th September 2017

The community pub appeal for Tafarn Sinc sets the final deadline challenge.

With only a few weeks remaining before the 30th of September deadline to secure the funds to purchase the iconic Tafarn Sinc Pub, the volunteers on the committee of the community cooperative who wish to buy the pub are asking all those who have shown an interest but have not got round to sending in their share contributions to do so as soon as possible otherwise there is a threat that they will not reach the purchasing price. To date, the campaign has raised £130,400 which has seen 236 people purchasing 652 shares. Once purchased all the shareholders will become members of the cooperative and each person will jointly own the unique rural pub.
The public meeting on the 18th of September will inform attendees that the current owners, Hafwen and Brian Davies have set a concrete end date of 28th of October and that they will definatley be finished that evening. There is, therefore, a need to gather in all the funds promised by supporters. One of those supporting the new Tafarn Sinc committee is Cris Tomos who noted. “It is a great achievement to have raised £130,400 in 10 weeks since starting the campaign in a public meeting in Maenclochog hall, mid-July.” Cris added “The aim now is to see a sum of £200,000 in share achieved by the 1st of October and also the committee has endorsed a special Peer to Peer (P2P) lending scheme where a 4% gross interest rate is offer to individuals who can lend a £5,000 sum to the cooperative to secure the total funds. As a target for the P2P we have 20 lots of £5,000 loans we are seeking and then this will bring in the needed final sum to purchase and owned by local people.”
The P2P scheme was used as part of the 4CG Cooperative in Cardigan and over £300,000 was received by local people who have been having a 4% return per annum over the past 5 years. Cris concluded ” I have seen how a local community lending scheme has worked well for many years, and with bank saving rates so low this is great way for local people to have a return on their money while also supporting in keeping local assets and services open”
For further details about the cooperative investment scheme and being a co-owner of Tafar Sinc visit the website
See below and attached the latest information regarding the cooperative venture and information about the current owners finishing on the 28th of October – also the update information below for current and prospective investors.
See also this link noting the support agency Plunkett Foundation that will support the committee of Tafarn Sinc.
If you have any questions – contact Cris on 07974099738
Campaign & investors website
Current commercial owners website – images are available for use.