Thirsty Café is a Community Benefit Society. This means it is a membership organisation, owned and run by its members.
Thirsty Café was set up to:
- provide a welcoming space for the local community to meet
- serve good quality drinks and food at affordable prices
- offer rewarding volunteering opportunities
- (hopefully) make a profit to re-invest in the community.
The society is organised and promoted by a Management Committee drawn from the membership. Committee members are elected annually at the AGM.
The Management Committee wish to encourage as much community participation as possible in this exciting venture and are pleased to offer membership shares to the community.
What your membership share(s) gives you:
- life membership of the Society – no annual subscriptions are required
- a say in how the café is run (one vote per member)
- the satisfaction of knowing that you have helped to fund this community enterprise.
Your membership share(s) will not pay any dividends or be saleable.
To apply for one or more shares (which are £10 each), please download and complete this form.
A bit more of the legal bitPlease note the following (all requirements are as per the Society’s rules. A full copy of the Rules is available on request).
- The Society will keep a register of Members.
- Membership is open to any person over the age of 16 who completes an application form to purchase membership shares.
- The minimum holding is one share (but members may buy multiple membership shares). Regardless of how many membership shares a member holds they are only entitled to one vote at members’ meetings.
- Membership is generally for life, but can be ended in certain circumstances, for example, the member expresses a wish to cease to be a member or the society loses contact with the member.
- The management committee have determined that membership shares are being issued for the purposes of generating community support for the café. As such they are not:
- withdrawable (i.e. you will not get your money back when you cease to be a member)
- transferable (i.e. you cannot give them to anyone else)
- entitled to payment of any interest (i.e. you will not receive any future income from these shares).
- Other types of share offering may be made in the future with different features.
The issuing of shares is set out in Part 8 of the Society Rules. Further to the rules, the Management Committee has agreed :
- Not to set a maximum share holding for membership shares, other than that imposed by law.
- That an initial “membership share” offering be made. Membership shares are issued primarily for the purpose of community engagement (rather than being an opportunity for investors). These shares will therefore:
(a) be permanently non-withdrawable, and
(b) not be entitled to any payment of interest from profits.
- The membership share offer will not be time limited and will remain open for the duration of the life of the society.
- The Management Committee will consider separately the withdrawal and interest policy for any future share offerings that may be made.
A copy of the share policy can be downloaded here.