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The Hive at de bees

The Hive Withdrawable shares

£200 minimum (£20 for Winsford residents)

Risk factors

All investment and commercial activities carry risk, and investors should consider whether The Hive Live is a suitable investment for them in light of their own personal circumstances.

You should remember that your investment is primarily for the purpose of supporting the society rather than making an investment return. As a Society, the maximum return offered to investors will always be limited.

This offer is not covered by the Financial Services Compensation Scheme.

General investment risks

It is important that you understand the following general points about holding community shares in The Hive Live Ltd:

As a Registered Society under the Co-operatives and Community Benefit Societies Act 2014, The Hive Live is registered with, but not authorised or regulated by the Financial Conduct Authority. Any money you pay for shares is not safeguarded by any depositor protection or dispute resolution scheme. In particular, you have no right of complaint to the Financial Ombudsman Service, nor any access or entitlement to the Financial Services Compensation Scheme.

An investment in community shares is an at-risk investment in a trading business, not a loan or a deposit, and rates of return are not guaranteed. This investment should be considered as a medium to long term investment with a primarily social objective. Your shares may not be readily convertible to cash should you need to withdraw them.

As a member and shareholder of The Hive Live, you could, if the business is unable to meet its debts or other liabilities, lose some or all of your investment held in shares. However, your liability is limited to the amount that you have paid for your shares. Whilst it is the Society’s intention to pay interest on shares at the rate advertised in this offer, community shares do not enjoy any capital growth.

Project Specific Risks

There are a number of risks involved in this investment. You could lose all or some of your money. Do not invest more than you can afford to lose.

  • The capital is not raised. The community purchase does not go ahead and all monies are returned in full to people who have bought shares.
  • A catastrophic failure of the business. de bees/The Hive would be sold and the money from the sale used to refund shareholders as far as possible. Assuming people have claimed SITR tax relief, so long as the venue was sold for at least £250k people should get all their money back. However, we cannot hide from the fact that this is an ‘at risk’ investment and people might lose some or all of their money
  • The relationship with CI (WV) Ltd doesn’t work out or the company collapses.  This is unlikely as CI (WV) Ltd has shared objectives and is a community owned business already running successful pubs, but the Society would look to take on the host and other staff and trade as a directly managed venue or more likely find a suitable alternative partner/ tenant give the specialist operational expertise required.
  • A major repair not picked up in the survey becomes apparent in a few years’ time. The Hive would then have a trading track record on which to raise finance. If the repair was unaffordable, then they would close the business and seek to sell the building.
  • SITR is not appoved. The consequences of SITR not being approved is that the Hive would not qualify for the BSC Crowd Match Fund. The Hive could continue to attempt to raise finance, but it would be much harder to meet the target and monies may need to be returned.
  • EI does not agree to sell to The Hive.  Although a sale has been contractually agreed EI Group (de bees owners) have set a deadline for completion of 1st July 2019. Should The Hive fail to meet this deadline EI will retain the £5K deposit paid by The Hive and the property will be advertised forced closed on the open market, typically in such situations the property ends up being sold for redevelopment

Offer closed

As of the 1st November 2019 this offer is closed

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