Terms and Conditions for applying for shares

Your application

You cannot withdraw your application for shares after your application form is received. The Directors do not have to accept your application for shares. They may decide not to issue shares to you or may allocate you fewer shares than you applied for. They do not have to give any reason for their decision.

Your application will be considered for approval at the first convenient Directors meeting and therefore you should not expect an immediate response.

Applications for shares will be considered from groups of individuals, who will be wholly responsible for agreeing their terms of engagement themselves. The Freewheelin' Brewery will conduct all dealings with the group through their nominated contact point.

Your payment

The Directors will acknowledge receipt of your cheque / BACS payment and application within 14 days. They may cash your cheque as soon as it is received. The Freewheelin' Brewery will hold your money on trust for you until the Directors consider your application. If the Directors decide not to issue you shares, your money will be returned within 28 days of the Board of Directors meeting.

If they decide to issue fewer shares to you than you applied for, they will return the balance to you (within twenty eight days of that Board of Directors meeting). The money will belong to the Freewheelin' Brewery as soon as the Freewheelin' Brewery issues shares to you (to the extent that they take it as payment for shares). The Freewheelin' Brewery will not pay you interest on any money it returns to you.

You will own the share(s) when you have paid the full amount, if you have opted for the phased payment option you must complete the schedule within the agreed time.

Capital return, interest and dividends

The Freewheelin' Brewery does not pay interest, it hopes and expects to offer a dividend though offers no guarantees that this will be possible The Freewheelin' Brewery does not expect to be able to pay dividend in the first year of trading, but will offer product at discounted prices as a reward for investment.

Investors will not be able to get their money back from the company in the first three years except in exceptional circumstances and without prejudicing the financial health of the brewery, from that point shares may be sold back to the company, or investors may make personal arrangements to trade them.

In the event of the Freewheelin' Brewery ceasing to trade, shareholders will be paid an amount proportional to their shareholding once all creditors have been repaid in full.

Risk

There is always the risk that you could lose some or all of your share capital. As a normal commercial enterprise the Freewheelin' Brewery is subject to market forces like any other business.
A risk assessment has been undertaken and is subject to regular review to maintain its value and relevance. Details are available on request.

Purchase of shares provides membership of the Freewheelin' Brewery. Membership is not suitable for anyone who needs a guaranteed income from investments or immediate access to their capital. Although the Directors will implement prudent management policies, there is always the risk that you could lose some or all of your share capital. The Freewheelin' Brewery does not guarantee a safe haven for your money.

You may wish to take professional advice before making an investment.

If you require any advice you should consult with an independent financial adviser authorised under the Financial Services Act 1986 or other trusted professional.

Data protection

By completing the application for membership you consent to the Freewheelin' Brewery and our
contractors and agents holding personal data about you in accordance with the Data
Protection Act 1998. We do not sell, share or exchange mailing lists.

Important notice on money laundering

It is a term of this offer that, to ensure compliance with the Money Laundering Regulations 2003, and the Proceeds of Crime Act 2002 and such similar legislation, you must have the authority to sign the application form. You will also supply us with proof of identity and address if asked.

Governing law and investor protection

The Freewheelin' Brewery is formed as a Company Limited by shares. The Freewheelin' Brewery is not an authorised institution under the Banking Act 1987 and does not accept deposits. This means there is no share deposit protection scheme for investors.

The Freewheelin' Brewery has taken all reasonable care to ensure that every statement of fact or opinion included in this information document is true and not misleading.

This is not a public offering, it is restricted to family, friends and neighbours of Richard and Linda White by invitation.

Applications for shares must be made on the application form, and must be accompanied by a cheque in payment or confirmation of BACS payment. Acceptance of your application will be notified by issue of a Share Statement, which will be posted as soon as possible.

The Board of Directors reserve the right to reject any applicant in whole or in part, in which case the application monies will be returned by cheque through the post at the applicant’s risk.

Registered office of the Freewheelin' Brewery: 15 Lyne Park, Peebles, EH46 7HP