FAQs

Why should I buy community shares?

Can we buy shares as a group?

We need your investment to help establish ERCL.
Without sufficient investment from the community we will be unable to establish the business and generate sustainable income to support Eden-Rose Coppice Trust and its clients, their families and friends.
Yes, we encourage groups to join. One member must be the nominee representing the interests of the joint members.

Who will benefit from this project?

Will my shares give me voting rights?

People with disabilities, mental health challenges or those who have simply lost their way in life. It will also benefit the Eden-Rose Coppice Trust’s beneficiaries (those with long-term and terminal illnesses, their friends and families) and you, the members by joining a community.
Yes, a Community Benefit Society is an open and democratic organization. One member/group receives one vote on issues determined by shareholders, irrespective of how many shares that member has purchased.

Is this a good business proposition?

Can I get my money back?

We expect that ERCL will be financially profitable. We have prepared financial projections based on the perceived specific strengths and weaknesses of ERCL. Full details of our forecasts are shown in the Business Plan.
You will be unable to withdraw your shares for the first five years after purchase. Thereafter you will need to give at least three months’ notice of your wish to withdraw shares. Shares can neither be sold nor transferred to someone else. Withdrawals must be funded from surpluses generated by the business or from new share capital raised from members.
The Committee may decline requests for withdrawals depending on the long-term interests of the Society, its need to maintain adequate reserves, and the broader needs of our community. Our business plan allows for share withdrawal of £8,000 per year after year five.

Who are the people behind ERCL?

What happens if the project does not proceed?

The Management Committee consists of a group of committed people with local links. They care keenly about the future of the Eden-Rose Community. They will also be investing in this share issue. They have contributed a large amount of time to the project so far at no cost. (Please see Appendix 5 of the Business Plan for more information on the founding members).
It is possible that we will be unable to commence the project, if, for example, we do not raise sufficient share capital. In the event that this happens, we will return any funds we have received.

Who will run ERCL and make the day-to-day decisions about the business?

What happens if ERCL does not succeed?

The Management Committee will oversee the business to ensure that it achieves the objectives set out in the Business Plan. Joanna Brooks will be General Manager with day-to-day responsibility for running the business. There will be governance and reporting arrangements in place to monitor financial and other performance. There will be an open and regular dialogue between the General Manager and the Management Committee and the views of members and customers will be actively canvassed by the Committee.
Should the business fail, all assets would be sold and the proceeds of the sale (after paying any creditors) divided between the shareholders up to the value of their shares. You might receive the full value of your shares back or you might lose part or all of your investment.

What redress do I have if the business fails and I lose the value of my shares?

Will I receive interest from my shares?

This share offer is first and foremost an investment in the community. The investment is unregulated and not covered by the Financial Services and Markets Act 2000. Furthermore, there is no right of access to the Financial Services Compensation Scheme nor to the Financial Ombudsman.
We aim to pay a reasonable interest rate to our
members. However, you can opt in to forsake your interest to create further surplus profit for charity. Our business plan assumes we will pay interest on shareholdings at a rate of 1.5% after three years, subject to the business generating sufficient surpluses. Interest will be paid gross and each member has a responsibility to declare such earnings to HMRC if appropriate.