We have compiled a list of frequently asked questions around the project, how it will potentially work. If you have any further questions, suggestions or are able to offer help in any form please don't hesitate to contact the working group.
As much as possible, the more that is raised the more of a cushion is provided. The objective for now is to see how much the village and surrounding areas can raise and to then understand if we need to seek further funding sources or there is sufficient.
Put in what you can afford. There is a maximum contribution of £100,000 and the group has not set a minimum, but it is worth saying we need to raise a significant amount of money. If we were to follow the model of the Stag at Mentmore. They had a maximum contribution of £100,000 and a minimum of £1000.
Please go to the website www.savetheunicorn.org for further information. Or email unicorncublington@gmail.com and ask for someone to contact you.
Yes, up until the time when it is turned into cash, although we hope people will stick to their pledges. But we do realise that personal circumstances can change.
You will have committed to purchasing shares. So, NO. But be assured we will not ask you to convert your pledge into cash, unless we are very sure that we can purchase the Unicorn.
In first 3 years virtually zero. But after that it will depend on the pubs success and how the company is structured.
The shares will be £1 shares so you will receive 1 share for every pound invested.
The net proceeds from the sale would be distributed to shareholders in accordance with the number of shares they own.
You will get your money back. Less the cost of any expenses incurred. Plus, any interest gained.
The aim would be just before Christmas, the reality maybe different. There is some refurbishment required before someone could live in the pub.
The lease will ensure certain conditions are met e.g. structural changes will not be allowed etc but in terms of types of beer, wine, meals etc this will be left to the lease holders. That said, the lease will state what the village expectations are.
It will be stated in the lease how many days the pub must open but it is hoped to be 7 days.
It all depends on how the company is structured and set up. The group is still seeking advice on this.
It all depends on how the company is structured and set up. The group is still seeking advice on this.
It all depends on how the company is structured and set up. The group is still seeking advice on this.
The pub is at the heart of the village, a bar at the Biggs would be a social club. Have fewer opening hours, no food and would not attract people from outside the village.
There will be an elected group of people to manage the company and lease, anyone who is a shareholder can put themselves forward for election. There will be a set number of potential officers.
There may come a time when we ask for volunteers to help with cleaning or repairs and maintenance to get the pub up to scratch but that will be in the future. If however, you feel you have a particular expertise that would help the group at this stage then please come forward after the meeting to speak to one of the us.
Once the feasibility of being able to purchase the pub has been determined, then the steering group would appoint accountants, solicitors and any other association which is deemed necessary to realise the project. At the moment there is a charity called The Plunket Foundation which focuses on helping communities to buy pubs, they have been very helpful with the initial investigations, and we envisage using their extensive expertise to assist us in the future.