Community Share Offer – Frequently Asked Questions
What is a Community Benefit Society (CBS)?
A Community Benefit Society is a not-for-profit organisation set up to own and protect assets for the benefit of the community. Every shareholder has an equal voice, with one vote regardless of how many shares they own. This ensures that control remains in the hands of the community rather than a small number of investors.
Why are we raising money through a share offer?
The share offer will help the rebuild of the pub by placing ownership in community hands. The funds raised will contribute towards the re-build and long-term sustainability of the pub, ensuring it remains a valued community asset for future generations.
Why should I buy shares?
By purchasing shares, you become part-owner of the pub and be able to contribute to its future. Community ownership gives local people the opportunity to influence how the pub develops and operates while protecting it from future uncertainty.
How much will shares cost?
The price of shares and the minimum investment level will be confirmed in the Share Prospectus before the share offer launches. We expect one share will cost £250. You can buy one or more.
Why buy more than one share if I only get one vote?
The one-member, one-vote principle ensures fairness and prevents any individual from gaining control. The success of the project depends on people investing what they can afford, whether that is a small or larger amount.
Will I receive a financial return?
A CBS operates for community benefit rather than private profit. Once the loan for the land has been repaid along with any repair costs covered etc and subject to the Society's financial performance, shareholders may receive a modest rate of interest on their share capital. We expect this to be in the region of around 1.5% although this is still TBC.
We are looking to offer a loyalty card to all share holders.
Is there any tax relief available?
We are exploring all available options, including potential tax relief schemes. Details will be provided in the Share Prospectus if applicable.
How will the Society be managed?
The CBS will be overseen by an elected Management Committee or Board chosen by shareholders. Annual accounts will be independently reviewed and made available to members, ensuring transparency and accountability.
Can the pub be sold and the profits distributed?
No. The Society will include an asset lock, meaning the pub will be protected for community benefit. If the asset were ever sold, any surplus funds would have to be transferred to another organisation with similar community objectives rather than distributed to shareholders.
Who can buy shares?
Anyone who supports the project can invest. Whether you live locally, have a connection to the area, or simply want to help protect community pubs, your support is welcome.
What happens next?
We are currently completing valuations, business planning, and the legal work required to establish the Community Benefit Society. Once these stages are complete, a detailed Share Prospectus will be issued outlining the investment opportunity and how to participate.
What happens if we cannot raise enough money to rebuild the pub?
Our aim is to rebuild and reopen the pub for the community. However, if we are unable to secure the funding and grants required, we would explore alternative development options for the site, including converting the main building into a house and, subject to planning permission, building an additional property on the rear of the plot.
This contingency plan is intended to ensure that shareholders' investments can be repaid in full. Any surplus funds remaining after repayment would be used for the benefit of the community
Privacy and confidentiality?
We will follow the GDPR guidelines to ensure all names, addresses, phone numbers, email addresses and pledge amounts are kept secure and private with only the Treasurer and Secretary having access to this information.
Please Keep Me Informed, ways of contacting us
Sign up and stay updated on the progress of the share options for the Green Man
Email: greenmanreccovery@gmail.com
Website: greenmanhodsollstreet.co.uk
Post: Hodsoll House, Hodsoll Street, Sevenoaks. Kent TN15 7LE
Together, we can secure the future of the Green Man for the benefit of the whole community.
