THE SHARE OFFER

How the Share Offer Will Work
The proposal is that the co-operative, Slaley Community Assets Ltd (The Society) will purchase the freehold of the Rose and Crown. The purchase will ensure that the pub will remain in the hands of the community in perpetuity. It can be a real success, and whilst the main reason to invest is to support our community, it has the potential to provide a reasonable return to those who do invest.

We should stress that nobody is being asked to GIVE money to the project only to invest in it. Investors will not be expected to do this without having first reviewed The Business Case (See Community Purchase)and details of how the co-operative will work – The Prospectus (.pdf) and The Rules (.pdf) and considered their applicability for EIS tax relief on the investment.

The Society will be owned and controlled by its members on a one member one vote basis. Individuals can become members by purchasing shares. The minimum investment (based on other successful pub co-operative fund raising initiatives) will be £500 and the maximum £20,000.

The shares will be withdrawable after an initial period of three years at the discretion of the Board and provided funds are available. We hope to develop a waiting list of further investors to enable some initial shareholders to withdraw their funds each year without jeopardising the financial security of the society. Anybody aged 16 and over can be a member.

Purchasing the Rose and Crown for the community will enable us to provide a much needed service to the community and arrange a full programme of entertainment and host to many clubs and organisations. If we were to raise less than the £130,000 deposit amount required from the community share issue, we will deem it as a failed project and refund any funds already received.

It is hoped that there will be a return on investment comparable to or better than Banks or Building Societies. We are working towards making the scheme eligible for Enterprise Investment Scheme (EIS) tax relief. Under this scheme, you would be entitled to 30% relief on any amount you invest, to be taken off income tax liability for current or previous year. With a minimum share-price of £500, when EIS is applied this will mean that actual cost per share is £350. You may also invest any capital gains tax liability you owe from the last year, and so avoid paying it!

To qualify for EIS, the minimum three-year shareholding applies and shares must be paid for in full at time of purchase. Full details of the risks and rewards are contained in the Share Offer Prospectus (.pdf) and The Rules (.pdf).

The Prospectus and Rules
Price Waterhouse Cooper and law firm Muckle LLP have been very supportive in helping us to finalise the Prospectus, Business Case, EIS application and prospectus. We are very grateful for their assistance.

Before you apply for shares please review the business case above and the prospectus and rules including a copy of our certification as an Industrial & Provident Society.

If you have any queries then e-mail us at roseandcrown@escrowagent.co.uk for more information

Or call one of the society’s directors: Norman Watson on 01434 673914, Margaret Weatherley on 01434 673495 or David Allsop on 01434 673686.

Alternatively you can write to us at Slaley Community Assets Ltd, Clairmont, Slaley, Hexham, Northumberland NE47 0AD

Slaley_Community_Assets_Ltd_Prospectus.pdf
Slaley_Community_Assets_Limited_Certified_Rules.pdf
Slaley_Community_Assets_Certificate.pdf
Slaley Community Assets Ltd is an Industrial and Provident Society for Community Benefit.
Registered in England, Registration Number 31986R
Registered Office, Clairmont, Slaley, Hexham, Northumberland, NE47 0AD

Apply for Shares
To apply for shares please download, complete and return the application form (.pdf).