We need to establish how much the community is willing to invest, and whether there is a willingness in the Dorchester and surrounding villages to contribute su cient funds to make the project viable. The more people who are able to pledge a commitment to buying shares, and the greater the community involvement in our project, the greater the chance of success. We are not yet at the stage where we can launch a formal share offer so at present we are asking for Pledge Forms to be completed to help us demonstrate the level of support.
IT MUST NOT BE LOST AS A VILLAGE ASSET
How would the Share Issue work? The value of one share will be £100. We wish to be inclusive so the minimum number of shares per investor is 1(£100), with the maximum per investor is 1000 (£100,000). Each investor will have a single vote no matter their level of investment. The Shares cannot be traded, but may be redeemed by the CBS in full after 3 years if su cient funds are available. If the CBS has to be liquidated, any surplus has to be given to another charity. Shares may pay interest but not dividends. Shareholders must hold their shares for a minimum of three years and during this period no interest will be paid.
This is not just about buying a pub, it’s about helping to sustain a community.
Non-binding pledges can be submitted using the attached pledge form, or alternatively you can make pledges online at www.friendsofthefl eur.com/pledge, by 21st October 2017. No money changes hands at this stage and your pledge will be treated confi dentially. This pledge does not constitute a commitment to invest but we need to have realistic offers to gauge the likelihood of success. More fi nancial information and a formal share offer will be provided in due course. Should you decide to invest, you would do so on the understanding that a proper business case has been put to you, explaining how the pub will be bought and operated, and that you are satisfi ed with the level of risk involved.