Hey all,
Sion and I have been working on a proposal for Solidfund to buy 5k of shares in the popular shareholding campaign GKN workers have launched. As Solidfund isn’t a legal entity it would make more sense for workers.coop to be the legal shareholders, if we were up for this. In practice what this would mean is the funds would be donated to GKN on behalf of workers.coop who would then be elegible to be repesented as investor members of the body which GKN creates. This membership class would be voting shares (only up to 1/3 the vote) and would be able to participate in the managment / development of the co-op. Being a very small share, this undertaking would be minimal, but hopefully interesting and fulfilling for whoever wants to take part. Personally I am keen to be involved - but would love to do so with other people as well.
The shares would be refundable, should the project not be possible due to undercapitalisation or legal wrangling, in which case the shares could be refunded to Solidfund, not workers.coop.
If possible I would like to propose a decision is taken on this at the All Hands meeting next week, as it is a minor decision which needs to happen quickly (the deadline they are working too for all of this or facing eviction is Jan 1st). There is a plan for an intl circle of workers.coop as you can see from other recent threads, but this is not active yet - so this is why I think an All Hands meeting is an apppriate location to get a steer on this proposal.