Plans to purchase the Salusbury Arms in Tremeirchion for the community are progressing well with £195,800 raised via a Community Share Offer, opened six weeks ago.
The Share Offer was launched at the pub on the evening of Saturday 18th February and closed on Friday (31st March).
On 15th March, the Chancellor Jeremy Hunt MP announced in his Budget that £175,000 in funding was to be provided through the UK Community Ownership Fund "to help ensure that the Salusbury Arms can be acquired and maintained for the benefit of the community".
For the plans to go ahead, the Tremeirchion Community Pub Steering Group have to match fund this amount and they are delighted to announce that they have more than met the target.
Speaking on behalf of the Steering Group on Friday evening, (before the final figure was confirmed on Sunday April 2nd), Chair Stuart Irvine said:
“We are absolutely thrilled that we have surpassed the amount needed. Earlier today we were £12k short, but we put an appeal out to all those who had already bought shares to ask if they wanted to provide more; thankfully they did and we hit our target - and then exceeded it! We will provide a final figure of the funds raised on Sunday.
“We cannot thank all those who have purchased shares enough. It was always a gamble trying to generate funds in this way, but it has paid off and we are all extremely excited here in Tremeirchion tonight and are very much looking forward to moving these plans forward. The future is looking very promising for the Salusbury Arms.”
Vale of Clwyd MP Dr James Davies, who has supported the Steering Group in their efforts and assisted them with their application for funding from the UK Government, is also delighted that the Share Offer has generated the funds needed to progress this exciting project.
He said:
“It is great news that the Share Offer has been so successful and exceeded the required amount.
“This means that that Tremeirchion Community Pub Ltd. can now progress with the next phase of issuing share certificates and then move onto the details of the purchase.
“All those involved in getting to this stage deserve huge praise and of course I wish to thank all those who have shown faith in what they are trying to achieve and purchased shares. It really shows what can be achieved when a community pulls together.
“I look forward to continuing to work with the steering group and assisting them further in any way that I can as they progress this project for the good of the local community.”
