Frequently Asked Questions
Who are the members of TCBS?
Right now the members are the circa 350 people who signed up to the TCBS earlier in 2019 when we tried (unsuccessfully) to raise enough money to rescue the South Western Hotel in Tisbury. Once the current fundraising campaign for a mobile electric plastic-free refill shop, has closed, only those who have signed up to invest in that will be members.
Questions about the share issue
What are Community Shares?
Community shares are withdrawable shares that cannot be sold, traded or transferred between Members, unlike shares in a typical company. All Members are entitled to one vote – regardless of how much they have invested.
Members will be paid interest on their shares if the Board believe it would be sensible to do so, and can also withdraw their shareholding, along with any interest accrued, again subject to the approval of the board. Community shares may be withdrawn by Members who have held them for a minimum period of three years, subject to 3 months’ notice. Community shares are fully at risk.
You could lose some or all of the money you subscribe. You have no right to compensation from the Financial Services Compensation Scheme, nor any right of complaint to the Financial Ombudsman Service. Please don’t invest any money you can’t afford to lose.
Community shares and membership of the Tisbury Community Benefit Society
You will become a Member of the Tisbury Community Benefit Society (TCBS) if you purchase community shares. If you are an existing Member of the TCBS you must buy community shares to continue as a Member of TCBS.
How can I invest?
We are running this share offer through Crowdfunder. When you click to invest, the money will be taken from your credit or debit card and held by Crowdfunder’s payment platform Stripe. If the share issue is successful, the funds will be passed to us, and if not, they will returned to you within one week of the share offer closing unsuccessfully.
What is the minimum and maximum investment?
In order to enable the maximum number of people to participate, we have set the minimum investment at £25. The maximum we can accept from individuals will be £30,000. Each shareholder has one vote, regardless of how much they invested.
Who can invest?
Anyone over the age of 16 can invest (but only people aged 18 or above can serve as directors).
Can organisations and businesses subscribe for Community Shares?
Yes. A representative of that organisation will need to become a Member of the society as nominee for their organisation/business.
Can people club together to buy shares?
Yes, but as with organisations, you’ll have to nominate a member of your group to be the named shareholder in our share register.
Can my investment be gift aided?
No, because we aren’t a charity.
Can I sell my shares?
No. This investment is in withdrawable share capital which cannot be transferred, sold or given to anyone else, except on your death to someone you have nominated and told us about up to the level of £5000 of investment (any investment above £5000 requires your beneficiary to be explicitly named in your will).
Can shares increase in value?
Shares cannot rise in value, so there will never be a capital gain. They may be reduced in value if our auditors instruct us to do so if they believe that the value of our assets has fallen.
What will you do with my personal details and data?
Your personal details as submitted on the application form will be held by the society and used in accordance with the provisions of the rules and of the 2014 Co-operative and Community Benefit Societies Act. Only Members can inspect the Members’ register and view Members’ names and addresses (but not how much they have invested) but the society will not share, sell or provide my details to any other individual or organisation and will ensure compliance with the GPDR regulation in accordance with its responsibility as a data controller. We won’t have external shareholders or lenders looking to take a cut of our success, and instead will be ploughing the fruits of that success back into the society.