Who are our members?
As an entity, we are known as the Countryman’s Community Pub Society Limited and we exist in order to carry out business for the benefit of the community. We are registered with the Financial Conduct Authority (FCA) and are bound by a set of rules.
A society such as ours has Members, a Management Committee (or ‘Steering Group’) and a Secretary. The official term for a member is:
“Membership is the means by which the Society is owned by the community. Membership provides Members with access to information, a voice in the Society, and the opportunity to be elected to a representative role in its governance.”
What are the eligibility criteria for membership?
All members are required to complete an application form and satisfy the below eligibility criteria:
- Applicant is over eighteen years old
- Applicant supports the society’s purpose
- Applicant purchases the minimum amount of shares required by our rules
All shares are priced at £1 each, with the minimum shareholding £500 per member and the maximum shareholding £20,000 per member.
There is no annual subscription to the society.
What are the benefits of being a member?
As a member, you will pay an important part in helping to save The Countryman’s Inn. You will have a voice in the society’s affairs by:
- attending, speaking and submitting motions to be considered at Members’ Meetings
- voting at Members’ Meetings
- electing representatives to the Management Committee (Steering Group) at Members’ Meetings.
- standing for election to the Management Committee (Steering Group)
- receiving information about the society and its business
- receive interest on shares (subject to Management Committee agreement)
How do I become a member?
Our share offer was successfully completed in 2021, with our upper fundraising threshold met.
To enquire about becoming a member, or to join our waitlist in the event there are no current vacancies, please contact us.
Can I withdraw my shares?
Yes, you can withdraw shares but there are some rules around this:
- Application for withdrawal must be made with at least three months’ notice. The Management Committee can waive this in exceptional circumstances, at their discretion and in the best interests of the society.
- Although withdrawals may be considered after two years of trading, we have not forecast any withdrawals in the first five years of trading. Any capital withdrawals approved by the management committee during this time are likely to be on the condition that the withdrawal can be funded by our reserves or by raising new capital through a subsequent share offer.
- The Management Committee can set a maximum withdrawal amount each year to ensure that the society has adequate funds in place.
- We may delay or pay in part withdrawals which the Management Committee consider would place the society in financial difficulties.
If you resign from membership, you will be removed from the Member Register and the date of resignation will be treated as the date of withdrawal notice.
If you wish to withdraw your shares, please contact us for more information.
Will I receive interest on my shares?
Interest can be paid on shares, but is at the discretion of the Management Committee, depending on whether there is enough profit to do so and payment would not adversely affect the society.
Interest payments will not be made within the first two years of trading. It is our intention to pay a modest amount of interest on share holdings after this period.
Members will have the opportunity to vote on the rate of interest at the Annual Members’ Meeting.
More information on any award of interest will be discussed annually at the Annual Members’ Meeting and will be shared through our communication channels.
I’ve still got questions!
If you still have some questions on membership, please contact us and we’ll be happy to answer your questions.