When Uley Community Stores was formed in 2012, residents of Uley, Owlpen and Nympsfield were invited to purchase shares priced at a minimum of £10 to raise funds to help secure the store’s future, to cover maintenance, refurbishment, stock and overheads such as rent and electricity.
By purchasing a shareholding you become a member of Uley Community Stores and you are entitled to one vote at the AGM. As long as trading is going well, members are offered loyalty incentives at the AGM such as vouchers to spend in the shop. In recent years this has been the equivalent of 2 per cent of investment.
Shares should be regarded as a long-term investment in the community but you could withdraw them after 3 years, giving 3 months’ notice, at the discretion of the management committee. They will never exceed their initial value, but they may go down, or be completely lost, if the shop fails to prosper.
For this investment members do not have any recourse to compensation or right of complaint to the Financial Ombudsman Service.