Twenty-four months ago the campaign to Save the Duke began and sixteen months ago the share offer was launched. Your fantastic support – and your patience – has paid off. We are indeed nearly there. Thank you, thank you, thank you!
What happens now? The process of purchasing the pub is in full swing. Once bought, it will be the property of Somersham Community Pub Ltd. We’re consulting about timings and will let you know as soon as we have any realistic idea. Of course we are aiming to get hold of it as soon as possible!
Finances There’s enough money in the bank (with additional help from some kindly short-term lenders) to complete the transaction. This is an amazing achievement – and it’s all down to your support. Of course that’s not the end of it. The money we’ve raised will let us - by the skin of our teeth - buy the pub. But there’s not enough to get the place ready to open - and up and running. Other community pub groups have told us they were in the same boat when they made their purchases: “It’s not ideal, but you’ll get there,” one of them said. “As soon as it’s clear that you really are going to own the pub and that it’s not some fanciful project, more people will come forward and buy shares – and current shareholders will dig a bit deeper. You need every penny you can get to meet the statutory obligations; stock the bar; and open the doors.”
And that is just what we are hoping. So, to get over those last hurdles, we are appealing for more support.
Help! Please could you let your friends, neighbours, colleagues know that we are going to buy the pub? Tell them how to go about buying shares. Ask them to join in now that it’s about to become a reality. Do you know any businesses who may be prepared to support us? Let us know if you have contacts worth approaching. If you are already a shareholder and would consider increasing your own shareholding, that would be absolutely wonderful! Just email firstname.lastname@example.org or complete the form here and we’ll be in touch.
We’re in need of all sorts of professional skills to complete the purchase and fulfil all the statutory obligations – then to get the pub up and running. If there’s something you could contribute over the next few weeks / months, please let us know!
Nearly time to Celebrate Once again, a huge thank you and congratulations to you – and to each and every member of the community who has contributed to the project. We are looking forward to meeting you for a pint!
Have you seen our FACEBOOK page? Join in with the photo campaign, add your own posts and 'like' and 'share' posts to show your support - help spread the word and give this project the best chance of success! We are also on twitter - @helpsavetheduke.