February 28, 2013
South Burnett Community Enterprises (SBCE) are looking for a last-minute “show of support” to get the Bendigo Nanango Community Bank project over the line.
“A strong show of support is what we are looking for now,” spokesman Jeff Connor said today.
“Everyone’s $500 or $1000 will make a difference.”
The organising committee must reach the $526,000 minimum deadline by the end of next week.
This will allow them to authorise the fit-out of the branch, located on the corner of Drayton and Fitzroy streets, and start advertising for staff.
SBCE were forced to extend their share offer after they failed to reach the target of 526,000 shares by December 10.
The cut-off date is now March 10 – but in reality, close of business Friday, March 8 – and this deadline cannot be extended again.
Once the $526,000 minimum is raised, they have another six months to press on reach the full subscription of $726,000.
“The more we have above the minimum, the stronger start we are giving our bank and the sooner it will come into profit,” Jeff said.
The branch expects to open with $9 million worth of business on its books.
SBCE is organising a “champagne and nibbles” function at Nanango Golf Club on March 5 for shareholders and would-be investors where it’s expected an update on share sales will be provided.
To RSVP, phone Judy on 0467-599-791.
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