Important points about the Share Offer that you MUST pay particular attention to before deciding whether to take part
When considering taking part, it is VITAL to realise this is an investment in our community – creating a unique asset for us all, and helping to make Littlehempston parish and village a more vibrant, thriving and sustainable place. It is not a conventional financial “investment” with an expectation of direct financial returns. The full details are set out in the Rules of Littlehempston Community Pub Limited (LCPL).
- The minimum shareholding is 1 Share. Each Share has a value of £250 and the statutory maximum that can be held by an individual is 400 (with an aggregate value of £100,000). Members must be over 16 years of age and shares must be paid for in full on application.
- Shares are not transferable (except on death or bankruptcy) – you cannot sell these Shares except to LCPL itself for their original value of £250 per Share.
- The value of Shares cannot increase beyond their nominal value of £250. However, their value may reduce to less than that figure or they may become worthless.
- Your liability as a Member is restricted to the value of your Shares. In the event that the business should fail, you would have no further liability by virtue of being a Member.
- Currently we plan to pay interest on these Shares but the share subscription should be viewed as a “social investment”. The Rules allow the Management Committee to suspend interest payments if the level of trading success could not justify such payment.
- The only way to recover the sum initially invested (or any reduced value) is to give notice of withdrawal. This cannot happen until five years have elapsed from the date of issue, or such other period as the Management Committee decides.
- The specific conditions for withdrawal include (full details are set out in the Rules):
a. withdrawals must be funded from trading surpluses or new share capital – and are discretionary (i.e. subject to the Management Committee being satisfied this is consistent with the long-term interests of LCPL);
b. the total repayable in any year may be specified by the Management Committee; and
c. 3 months notice must be given.
- Littlehempston Community Pub Limited (LCPL) is registered with the Financial Conduct Authority (FCA). However, this offer of Shares is not regulated by the FCA; there is no right of complaint to the Financial Ombudsman, nor can you apply to the Financial Services Compensation Scheme.
- You should pay special attention to the risks highlighted on the Frequently Asked Questions page and the SWOT Analysis within the Business Plan.
- The Rules set out the detailed provisions relating to LCPL, reading the Frequently Asked Questions should not be considered a substitute for reading these in full. The Rules are important and will be binding on you, as a Member, should your application for Shares be successful.
Before deciding to subscribe, please consider seeking independent financial or legal advice in relation to the terms of this offer.
If you need further information on the project itself, please do not hesitate to contact us.
Please don’t print this page – it’s only for online applications. If you’d prefer to write on a form and post it to us, then please print out the form on the last page of our Share Prospectus.
Shares must be paid for in full at the time of application. You will be shown a webpage and sent an e-mail explaining how to pay for your shares when you submit this application.