Become a share member
What do share members do?
Share members effectively own Newydd. This means that no important decisions can be made about Newydd’s future without most share members agreeing to the changes. Share membership can provide tenants with some protection that Newydd is not going to make any major decisions that will affect tenants negatively. Currently over 75% of Newydd’s shares are owned by tenants.
The sort of decisions that need share members’ approval are those that involve changing the rules, elections to the Board and any decision to merge or wind up Newydd. These decisions can only be made at meetings that share members must be invited to. As Newydd is a not for profit organisation shares are limited to one per person and will not increase in value, they do not attract bonus payments so they won’t make you rich!
Becoming a share member
Becoming a share member is easy, tell us you want to be a share member, we will collect some details from you for our records and that’s it. Newydd will even pay for your £1 share. Your application will be reported to the Board for approval and if approved a share certificate will be issued to you. Newydd has an open share membership policy and particularly welcomes applications from tenants. If you want to share in the ownership of Newydd then contact Hana who will be pleased to deal with your application, call 02920 005411.