December 19, 2012
South Burnett Community Enterprises Ltd – the backers of the plan to open a Bendigo Community Bank branch in Nanango – have extended their share offer after failing to reach their target of 526,000 shares by December 10.
Chairman Noel Strohfeld said a Supplementary Prospectus would now be issued to raise the final shares needed to open the new bank.
“Although we did not reach our target, the results were very pleasing with well over 300,000 shares allocated,” Mr Strohfeld said.
“Now, with more time to raise what is a quite small remaining quantity of shares, the future looks very promising for Nanango and the wider South Burnett community.
“The Board of South Burnett Community Enterprises Ltd, however, stresses the urgency of quickly attaining the outstanding amount.
“Once the target has been reached we can start the fit-out of the new bank.”
The board has appointed Judy Robison to head a task force to raise the shortfall.
Board member Jeff Connor said today that a newly formed taskforce met with community members, local business and organisation representatives in Nanango this morning.
“(There were) some great ideas to help get the word out to the South Burnett about the positive benefits of having a Nanango Bendigo Community Bank Branch in Nanango,” Mr Connor said.
“For example, did you know that over $9 million of Nanango and Kingaroy business has already been committed from South Burnett businesses and individuals that is sitting on Yarraman Community Bank books waiting for Nanango to open?
“Put another way, there is already over $9 million worth of Nanango and Kingaroy banking business that has been committed to Nanango ready for when it opens.”
Taskforce leader Judy Robison said the share offer was open to all residents and businesses in the South Burnett. Share purchases begin at $500.
She said this was an ideal investment opportunity in the future of the South Burnett.
“What a great Christmas gift idea that really says you care for a family member or as an investment in your own town’s prosperity,” she said.
Mr Strohfeld said he believed it would be only a few weeks before the target would be reached.
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[Photo: Nanango Electorate Office]
