Sportsman (SOS) Project - Expression of Interest (Share Purchase) |
Investment Overview
WHY INVEST IN THE SPORTSMAN?
The Sportsman will become a community pub and be a hub for the village of Amberley without all the uncertainty of the past.
The pub will be registered as a community benefit society (CBS) with all the advantages that brings. All of those who invest by purchasing shares will become members of the society. Each investor will be entitled to a single vote at society meetings (for a minimum investment of £500) and be entitled to loyalty discounts on any food or beverages consumed at the pub and other rewards.
There will be several positive changes from the days when the pub was tenanted. Some of these are: -
a) A better range of services.
b) Greater quality and choice.
c) Open throughout each day, aiming to be open seven days a week.
d) Refurbished, improved, and extended restaurant and kitchen.
e) Stimulated community activity, in turn helping to reduce social isolation.
f) Partnering with various local and national businesses.
g) Member customers will have a say in how the pub is run.
h) A much greater chance of success.
i) Stability.
BEFORE YOU EXPRESS YOUR INTEREST, HERE IS SOME INFORMATION ABOUT INVESTING
Shares
Under the rules applying to Community Benefit Societies there can be no payment of dividends. After the first two or three years of trading interest at 2% over the Bank of England rate or 5%, whichever is the lower, will be paid to shareholders on the nominal value of their holdings at the discretion of the Management Committee. However, interest will only be paid if the business can afford it. The nominal share value cannot increase.
The investment in shares may qualify for Social Investment Tax Relief or relief under the Seed Enterprise Investment Scheme although this is considered unlikely. Nevertheless, the Steering Group will seek approval from the HM Revenue and Customs.
The minimum shareholding per individual is £500 and the maximum is £100,000. The minimum shareholding value has recently been reduced from £1000 to make the project more inclusive to a wider audience.
WHY ARE THE EXPRESSIONS OF INTEREST FORMS BEING SENT TO SURVEY MONKEY?
The information collected by the survey company will be stored and not used for any other purpose than to contact the potential investors at the actual stage of investment. The information will not be shared with any other individuals or organisations.
Further Information - If you require any clarification or further information, please contact us via private message.
WHY DO YOU NEED TO EXPRESS YOUR INTEREST NOW?
A substantial amount of capital needs to be raised before the steering group will be able to purchase and have funds to run the pub. The purchase can only go ahead if a large part of this capital is raised, so it is essential to have an indication from you now to enable the group to gauge whether this is achievable. It is important for the purchase to be secured quickly to reduce the amount of time the pub is closed.