15 August 2014: This week the not-for-profit consortium, Community 21 Limited, received word from the Australian Securities and Investment Commission (ASIC) that, following the exposure period, their Prospectus had been accepted.
This Prospectus represents the start of a new phase in Community 21’s thirteen-year history: an historic share offer exclusively for Australian not-for-profit organisations.
“The ASIC exposure period has meant the brakes had to go on for awhile, but we are now ready and excited to hit the ground running. We now have four months to raise the minimum subscription level so we’ll be pounding the pavement and contacting sector leaders, Executive Director, Peter Quarmby said today.
Not-for-profit organisations are being invited to invest in Community 21, raising capital to develop new finance pipelines for social impact projects, to strengthen the not-for-profit sector’s financial sustainability and reduce reliance on government funding.
“We invite forward looking not-for-profit organisations across the country to become part of the story as we embark on a uniquely Australian exercise in impact investing, Mr Quarmby stated.