After considerable investigation and consultation it has been decided that the most appropriate mechanism for getting the pub back in business in the long term is to use a three company model. This sounds as though it could be complicated but in practice it is really simple.book of ra deluxe free play This is how it works.
The local community buy shares in “Ballinger Community Group Limited”. This is the entity that will negotiate for the purchase of the pub. This company will own the bricks and mortar and the land. The company will be protected from speculators gaining control through a variety of mechanisms including widespread ownership of the shares and each shareholder being entitled to only one equal vote, irrespective of the size of their shareholding.
Ballinger Community Group Limited will own 100% of a second company The pub letting company, that will be established in order to manage the renting out of the pub facility. This company will recruit and sign contracts with an experienced publican, who will rent the pub from the rental company and run his business in accordance with the provisions of the contract, to generate a profit.
The rent paid by the publican will be passed back to Ballinger Community Group Limited together with any appropriate profit share detailed in the contract. This will initially be used to build a contingency fund to secure the long term future of the pub. Subsequent funds will be returned to the shareholders.