Pledge request and an update!

Dear Friends (and prospective friends) of the Boot

A short update to keep you informed about our progress in trying to save the Boot as a hub for the community.

We have been delighted to receive a steady stream of pledges towards our campaign and are now over 80% of the initial target set of £250,000. For this many thanks, its great to have tangible feedback about the level and feeling of support in the community for our campaign. Please send in and encourage others who may not have returned their pledges yet to do so. 

We are using the level of support received both in terms of value but equally importantly in terms of supporters numbers to aid in our submission for grant and loan funding to make up the balance of what we believe will be a fair offer along with the cost of repairs and works needed to appoint a tenant and reopen.

We hope to be in a position to bid based on the independent valuation report we have obtained and issue an updated business plan and prospectus in the next month where a fully costed plan will be presented. As we receive more pledges the level of costly loans required are reduced aiding in the long term planning and improvement possibilities and helping provide better projection of the split between shares, loans and grants to be finalised. We plan to hold another public meeting to update everyone and have a Q&A session as part of the formal share offer prospectus launch and we will circulate a date and time when we have them.

In the meantime for more information please look at the now fully launched web site where the draft business plan, our FCA registration (which includes our full society rules), references to some of the publicity we have obtained and contact details for anyone who would like to ask any questions in the meantime can also be found. 

As already said many thanks to all those that have pledged or even just encouraged us by comments and snippets of feedback to help us in our joint efforts to save the Boot. To further help us with this please find attached the pledge flyer to pass on to any potential supporters, locally or even further afield, that you may know. We also have printed copies available if required or they can be picked up at the village Post Office.

Regards

John Alderman
Chair The Community Boot Inn (Orleton) Ltd 

Success with Plunkett Foundation & FCA

We are delighted to inform you that our application has been successful and The Boot Inn, Orleton is now a member of the Plunkett Foundation via the Plunkett Community Co-operative Network (PCCN) with unique membership reference number PCEN138.

You can find out more about the Foundation here: www.plunkett.co.uk

We are now also a fully regulated Community Benefit Society Society with the listed name: The Community Boot Inn (Orleton) Limited and the society’s register number is 7727. Our  rules (which form part of our FCA registration) are based on the model format obtained from our Plunkett Foundation membership and are as used by many other organisations over the years. You can download and review our registration and the rules here (7.5mb).

Our Pledge Letter

HELP US SAVE THE BOOT INN
A limited company ’The Community Boot Inn (Orleton) Limited’, a Community Benefit Society, has been formed to raise the funds necessary to purchase the Boot Inn, undertake refurbishment work and appoint a tenant to run the business for the benefit of the community.

Grants and loans are available but it is hoped to cover the major part of the money required through a share offer to the residents of Orleton and beyond. This will become a vital element of the grant application process and also help reduce any borrowing costs.

The shares will be interest bearing (initially 2.5%) and also redeemable after a set period of 3 years. The minimum age to take part is 16 years and the minimum investment will be 5 shares of £50 (£250) but we hope that many will take up more (the legal maximum is to a value of £100,000!). It is however important that as many local people take part as possible irrespective of the amount invested and so several smaller investments from the same family are of as great importance as that of one or two of larger value.

At this stage we are seeking an indication or ‘pledge’ of potential financial interest so a fully costed prospectus can be produced. No money is necessary or any final commitment sought or given by this pledge or will be until the full business plan and prospectus is complete and available to all and separately subscribed to. A lot more information will be available on our website, when it is fully up, but for now links can be found via the Facebook page or from committee members. If you wish to participate please fill in the form below and send it to the Secretary:

Jon Best
Secretary The Community Boot Inn (Orleton) Ltd,
Petra,
Tunnel Lane,
Orleton,
SY8 4HY

The information will be treated with the strictest confidentiality and available only to the Chairman, Secretary and Treasurer.

Thanks for your support
John Alderman and Robert Williams
Chair Elect and Treasurer Elect. The Community Boot Inn (Orleton) Ltd 19/2/2018