We won the battle
A successful campaign to fight the planning application started over two years ago, with the final appeal decision this year stating:
“The pub must be retained as a pub.”
D.M. Young, Planning Inspector, January 2019
The SOS Pub Community Interest Company (company no. 11910685) registered their intention to bid for the pub and land adjacent to the pub. This triggered the full 6 month moratorium period, giving us the time to prove that we can raise the funds that we need in order to achieve the goal of having a pub run and owned by the community for Knebworth.
Making the dream a reality
Funds to purchase the pub will be raised through shares, commercial loans and grants. We are working with the Plunkett Foundation to make the dream a reality.
Our target is to raise £300,000 through shares.
- Anyone over the age of 18 is eligible to buy shares.
- Each share will cost £50.
- The minimum number of shares that any individual or group can own is 5 (£250) to save on administrative costs.
- No one person can own more than 15% of the total share value.
- Shares are not transferable but can be sold back to the company.
- Each shareholder will have one vote regardless of the number of shares they hold.
- We are planning to register the CIC with HMRC, meaning taxpayers may be able to get a 30% tax rebate.
- A small dividend can be paid to shareholders when distributable profits become available. All dividends awarded will be proportional to share capital held.
So how do I pledge for shares?
- We invite residents to pledge for shares between now and 4th July 2019.
- Please state the amount that you would like to pledge (e.g. £250 or any £50 increment above this, up to a maximum value of £45,000).
- Please include your full name, address and preferred method of contact to email@example.com.
- We are committed to maintaining your privacy in accordance with our GDPR policy.
- Please note this is not legally binding but gives us an expectation of what can be achieved.
- If you have pledged for shares a full prospectus will be delivered after the closing date.
What happens now?
- Collecting pledges enables us to demonstrate some of the monies available.
- Having registered our intention to bid for the pub and land adjacent to the pub means that we have the right to bid and enter in to negotiations with Market Homes Ltd.
- Market Homes Ltd do not have to accept our bid.
- If our bid is successful we will contact all people who have pledged to confirm whether they still wish to go ahead.
How will the pub be run?
- The decisions around running the pub will be made by a steering group as voted for by the shareholders.
- This will be made up of 10-15 residents who are also shareholders.
- The steering group will employ a pub manager to live in.
- The Plunkett Foundation survey results evidenced what residents wanted from a pub and this will form the basis of what the pub will offer in terms of drink, food and activities.
- As a community pub the activities offered will run throughout the day and will be designed to offer something for all members of the community.
To pledge your support, please email us on firstname.lastname@example.org. This is our chance to own a community led pub, so let’s ensure that on the 4th July we are celebrating our own Independence Day with a strong bid for the pub, giving the community every opportunity to bring the Station Pub back into the heart of Knebworth.
For any questions or to pledge your interest in the share plan, please email us at email@example.com.