Frequently Asked Questions
Can I buy shares as a gift?
Yes, but get in touch with us, rather than using the application form. When shares are bought, there’s a legal contract between the investor and Lauriston Farm Limited. We need to make special arrangements to ensure that the person who is having shares bought for them is still able to personally agree to that contract.
Who can buy the shares?
The offer is open to anyone over the age of sixteen. Companies and other corporate bodies can become legal members of the Society though they will have to nominate a nominee when they make their application. Clubs and other incorporated groups (such as a group of friends or a family) can also buy shares but whoever buys them will be the legal owner. They will need to make their own arrangements for how things like votes will be cast on their behalf and how any withdrawal payments will be repaid to everyone who contributed in the first instance. The shareholder will receive a beautiful share certificate on completion of the share offer.
Can I buy Shares for someone under 16?
Yes. Fill out the form in your name and give the name of the person under sixteen and their date of birth. When they turn sixteen we will contact them to ask if they would like the shares to be transferred to them. We shall then let you know their choice and make the necessary changes to our records and issue a new share certificate with their name on and remove your certificate from our records.
What if the Society becomes insolvent?
In the event of insolvency, our assets would be sold and the proceeds will firstly pay off any creditors. After that, investors will get back all or a proportion of their money. The level of repayment will depend on the amount of assets owned by the Society. These are initially quite low but will grow over time. Regardless of the level of assets, you won’t be liable for any more money. A Charitable Community Benefit Society is exempt from the regulations governing public share offers so there is no right to compensation from the Financial Services Compensation Scheme, or recourse to an ombudsman.
Finally, the Society’s asset lock kicks in and any surplus assets will be transferred to the Natural Beekeeping Trust (registered Charity Number 1140009) whom we have had a very close working relationship since it was formed in 2009. They aim to promote awareness of sustainable beekeeping which is determined by their understanding of the essential needs of the bee. The founders of the Trust believe that encouraging bee guardianship as well as fostering an interest in organic and biodynamic agriculture and gardening will make a major contribution to ensuring the long term health of the honeybee.
What happens if the land owner decides to sell the land?
This is very unlikely but should it occur Lauriston Farm Limited will have first opportunity to buy the land. It is one reason we chose the Charitable Community Benefit Society as it is the perfect vehicle for acting as a land trust. If we were unable to raise the funds to buy the land then we would enter into conversations with other land trusts, such as the Biodynamic Land Trust and work with them to buy the land. Robert and Marion Christy were incredibly supportive of the development of the farm and were very keen to see it develop according to the business plan and eventually be placed in Trust.
What’s the minimum investment?
Our ideal minimum investment is £100. This represents an investment in a community business and not a donation to a good cause. It also carries costs of processing and further costs every year for the Society such as notification of the AGM, sending out of annual accounts, and other administration. So we can’t set the bar too low or else it’ll end up costing us more than we receive.
What if £100 is too much for us?
Whilst £100 is our ideal minimum shareholder investment, we do not want your ability to pay to preclude you from becoming a member. Therefore, the Board has agreed to offer a concessionary membership rate of £50 to individuals on low incomes or some form of benefit. Alternatively, individuals can club together as friends or as a family and buy shares collectively as described in the ‘Who can buy shares?’ section. Finally, if the concessionary rate is still too high we do accept donations. Our Charitable status allows us to recover the Gift Aid on your donation providing you are a UK taxpayer.
Is there a maximum I can invest?
The maximum investment is £7,500.
Do I need to buy blocks of £100?
No, each share is priced at £1 and once you have purchased the minimum amount then you can buy any amount so long as it is in whole pounds up to a maximum £7,500.
Can I join the Board?
Yes, in the future when a space becomes available. In order to join you will need to be a shareholder and be voted on at an AGM. The Board can also co-opt a member for a specific task or for a specific need for a limited period of time without the need for an AGM vote. You can also become an advisor to the Board if you have a particular skill we are looking for.
Any more questions?
If you still have unanswered questions why not come on a farm open day. Alternatively, please contact us via email on [email protected] or use the contact form
Yes, but get in touch with us, rather than using the application form. When shares are bought, there’s a legal contract between the investor and Lauriston Farm Limited. We need to make special arrangements to ensure that the person who is having shares bought for them is still able to personally agree to that contract.
Who can buy the shares?
The offer is open to anyone over the age of sixteen. Companies and other corporate bodies can become legal members of the Society though they will have to nominate a nominee when they make their application. Clubs and other incorporated groups (such as a group of friends or a family) can also buy shares but whoever buys them will be the legal owner. They will need to make their own arrangements for how things like votes will be cast on their behalf and how any withdrawal payments will be repaid to everyone who contributed in the first instance. The shareholder will receive a beautiful share certificate on completion of the share offer.
Can I buy Shares for someone under 16?
Yes. Fill out the form in your name and give the name of the person under sixteen and their date of birth. When they turn sixteen we will contact them to ask if they would like the shares to be transferred to them. We shall then let you know their choice and make the necessary changes to our records and issue a new share certificate with their name on and remove your certificate from our records.
What if the Society becomes insolvent?
In the event of insolvency, our assets would be sold and the proceeds will firstly pay off any creditors. After that, investors will get back all or a proportion of their money. The level of repayment will depend on the amount of assets owned by the Society. These are initially quite low but will grow over time. Regardless of the level of assets, you won’t be liable for any more money. A Charitable Community Benefit Society is exempt from the regulations governing public share offers so there is no right to compensation from the Financial Services Compensation Scheme, or recourse to an ombudsman.
Finally, the Society’s asset lock kicks in and any surplus assets will be transferred to the Natural Beekeeping Trust (registered Charity Number 1140009) whom we have had a very close working relationship since it was formed in 2009. They aim to promote awareness of sustainable beekeeping which is determined by their understanding of the essential needs of the bee. The founders of the Trust believe that encouraging bee guardianship as well as fostering an interest in organic and biodynamic agriculture and gardening will make a major contribution to ensuring the long term health of the honeybee.
What happens if the land owner decides to sell the land?
This is very unlikely but should it occur Lauriston Farm Limited will have first opportunity to buy the land. It is one reason we chose the Charitable Community Benefit Society as it is the perfect vehicle for acting as a land trust. If we were unable to raise the funds to buy the land then we would enter into conversations with other land trusts, such as the Biodynamic Land Trust and work with them to buy the land. Robert and Marion Christy were incredibly supportive of the development of the farm and were very keen to see it develop according to the business plan and eventually be placed in Trust.
What’s the minimum investment?
Our ideal minimum investment is £100. This represents an investment in a community business and not a donation to a good cause. It also carries costs of processing and further costs every year for the Society such as notification of the AGM, sending out of annual accounts, and other administration. So we can’t set the bar too low or else it’ll end up costing us more than we receive.
What if £100 is too much for us?
Whilst £100 is our ideal minimum shareholder investment, we do not want your ability to pay to preclude you from becoming a member. Therefore, the Board has agreed to offer a concessionary membership rate of £50 to individuals on low incomes or some form of benefit. Alternatively, individuals can club together as friends or as a family and buy shares collectively as described in the ‘Who can buy shares?’ section. Finally, if the concessionary rate is still too high we do accept donations. Our Charitable status allows us to recover the Gift Aid on your donation providing you are a UK taxpayer.
Is there a maximum I can invest?
The maximum investment is £7,500.
Do I need to buy blocks of £100?
No, each share is priced at £1 and once you have purchased the minimum amount then you can buy any amount so long as it is in whole pounds up to a maximum £7,500.
Can I join the Board?
Yes, in the future when a space becomes available. In order to join you will need to be a shareholder and be voted on at an AGM. The Board can also co-opt a member for a specific task or for a specific need for a limited period of time without the need for an AGM vote. You can also become an advisor to the Board if you have a particular skill we are looking for.
Any more questions?
If you still have unanswered questions why not come on a farm open day. Alternatively, please contact us via email on [email protected] or use the contact form
