FAQ

The Share Offer is currently closed, please check back in the future for another chance to purchase shares.

FAQAnswer
How do I purchase shares ?Shares can be purchased in five easy steps:
1. Visit http://tollertontrust.org.uk/business-page/buy-shares/
2. Download application form
3. Print form & complete it
4. Complete balance transfer or write a cheque
5. Drop the completed form (and cheque if applicable) into the Community Trust’s postbox outside the Parish rooms.

Or the other options are to Facebook message us your application form, Email us your application form (communitypub@tollertontrust.org.uk) or attend one of our drop-in sessions, where we are happy to answer any questions, provide forms and accept cheques.
If we pledge money for shares through bank transfer how do we let you know the full details of who it’s from?Once you’ve completed a bank transfer you will need to bring the application form back. You can either bring it to a drop in session, email it to us, or post it into the community trust’s post box outside the parish room.
Can I buy shares for my children / grandchildren?It is a legal requirement that all share owners must be 16 or over.
Is it possible to download the business plan and the architect’s drawings which were available during the launch event?Yes, please have a look at the business plan page which is available on our website: http://tollertontrust.org.uk/business-plan/
Who is going to manage the pub?Once the pub is opened, new management will be put into place. Currently no decisions have been made as to who this will be, we will of course keep you updated with this information.
Does the Tollerton Flying club, have any links to the old flying club from the aerodrome?There is no link to the old flying club or aerodrome.
Could local businesses buy shares and get advertising around the pub garden or on menus for a set amount of time?Currently this is not something the steering group are offering but keep checking back on this page as there maybe some opportunities in the future. 
Can I transfer shares?Shares are none transferable so unfortunately not.
Can you confirm its one name on the share ownership?One share buy is for one person.
Can the brick in the pub be a family name and not the share owners name if requested?Yes the brick can be a family name.
How does the Flying club fit into buying the pub?The Flying Club, is the name which has been created for the new Community Benefit Society which will own the pub. The name is a reference to the name of the pub.  
Why is the flying club listed as Limited? Will the flying club be a business/company? The financial conduct authority have guided us to being listed as Limited. This will mean we are not a company / business, but we are a Community Benefit Society.
If I buy shares, how do I get the chance to have my vote on things I feel I would like changed?Annually there will be an AGM, this will be the opportunity for all share holders will be invited to have your say, vote, and put yourself forward to be elected onto the committee. 
Reducing the car park size, is that going to have an effect on the road parking? Especially if you’re looking at increasing the amount the business? No, the pub car park will be the correct size and professional advice will be secured from planning regulations to ensure plenty of room is available. 
Are there any big investors lined up to buying into the pub?No big investors are needed, but you are more than welcome to come and talk to us if you would like to invest large sums.
How will the management committee be formed and operate? The Management Committee is a team of volunteer member shareholders which will be elected by the members to carry out the trust’s business on their behalf. It provides strategic direction for the pub and its activities, but does not manage the day-to-day operations. The day-to-day operations will be the responsibility of the pub’s appointed tenant. The committee is made up of not less than 3 and not more than 12 members who will meet regularly. They will be accountable to the membership and will report to them via members meeting/email communications and at an annual AGM.
After the first year, all the Management Committee will stand down and may be re-elected or replaced by new members. After this first year management committee members will be in position for 3 years. 
Can you buy shares if you live outside of the village?Yes
Will the buying of beer tied into any beer suppliers? No
Is the size of the Petanque court negotiable?Yes
Are you thinking of getting rid of the Petanque grounds?No
Are you going to support the Petanque in the future? Yes
Why if it’s not successful right now do you think it would be successful in the future?We believe that it will be successful for many reasons including a change in ambience brought about by a change in management and we will be providing good food and drink. This along with other changes to currently how it operates will bring in the success it needs.
How will wheelchair access be improved? If we reach the share target we can afford to renovate all of the toilets, which will include installing wheelchair access in a disabled toilet. 
Is the pub going to close at any point soon while the transaction takes place?This is out of our hands, and were unable to comment. 
When are the drop-in sessions planed for?All drop-in sessions are listed on our website: http://tollertontrust.org.uk/2019/11/20/drop-in-sessions/
What is a drop-in session for? These sessions are for anyone who missed the share launch evening and would like to purchase shares or for if you have any further questions about the share offer and the community pub.
Where can I see a copy of the business plan and the community share offer?Please take a look at the Business Plan page on our website.
http://tollertontrust.org.uk/business-plan/
What happens after I buy my shares?You will receive confirmation receipt, and a email explaining the next steps. There will also be a certificate of shares issued in the new year. 
Where can I hand my forms or cheque into?There are three options to hand in forms or cheques. These are:
1. Facebook message us your application form,
2. email us your application form (communitypub@tollertontrust.org.uk ) or
3. Attend one of our drop-in sessions, where we are happy to answer any questions, provide forms and accept cheques.
Why is a community pub important to the Parish?In May 2019 the largest ever attendance of Tollerton residents at an Annual Parish Meeting gave us a very clear message – to buy the pub.

In June the Parish Council worked with the Community Trust to consult the community. There were more responses to this than any consultation in the last five years. Again the messages were clear, the community wished the pub to be saved and expected the Parish Council to work towards and fund this.
Will the Parish Council have an ongoing role?The management of the pub will be the responsibility of the Flying Club, reporting back to their members and the wider community. The pub will be run as a business and the Parish Council will not be involved in the day to day running of the pub or in the costs of operating the pub. However as joint owner the Parish Council will be represented on the Flying Club Management Group and will be able to provide additional assurance to the community on the way that things are being managed.
How will the Parish Council fund the purchase?The Parish Council has agreed to use an approved borrowing mechanism – The Public Works Loan Board – to raise its contribution. The Loan will be repaid by using some of the Development Budget and through rental income from the Pub.
How much can my shares make?This is a social investment and not an investment designed to generate large profits and should be regarded as a long-term social investment in your community. No interest will be paid for the first three years. See our share offer booklet: http://tollertontrust.org.uk/wp-content/uploads/2019/11/Tollerton-Flying-Club-Share-Offer.pdf
How many votes can I have with my shares?One member = One vote.
Can I sell my shares? You cannot sell your shares, other than back to the society and only then under the specific rules as described in the Share Offer document.
How can I get my share money back?You must give three month’s written notice to withdraw your shares to the Management Committee. You cannot withdraw your shares for the first three years after the date of the share issue. All share withdrawals will be at the discretion of the Management Committee and must be funded out of profits or new share capital.
What happens if too many people withdraw shares in one year? Total withdrawals in any year will be limited to a maximum of 10% of the current value of this share offer.
What will the share money be used for?All funds invested in this Community Share Offer will be used for the purpose of acquiring, refurbishing, improving and owning The Air Hostess Pub.

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