Gold/Platinum Shareholders Terms and Conditions

The rules of Racing Shares and how they affect you.

Structure
S1 Racing Shares ("the business") is a shareholder funded business. Any profits made are reinvested in purchasing new racehorses and charitable donations to racehorse rehabilitation charities.
S2 Shareholders ("you") are persons who's registrations have been received and who agree to follow the business rules. 
S3 Shareholders are protected from the financial risks by the business management structure. Prize monies are allocated based on your percentage holding of our racehorse.
S4 Shareholders have no financial obligations beyond the initial fee. All racing and training decisions are made by the business's management.
S5 Legal Ownership and racing registration of the business's horses are determined by the Racing Shares management, all horses are registered to a nominee of Racing Shares. Your ownership share is an agreement with Racing Shares. Racing Shares shareholders have no legal title to the business's property. See Ownership Status section for further details.

Our obligations
O1 The business will allocate any racehorse owners tickets that have been made available by the racecourse in a fair and consistent manner.  Racing Shares may provide preferential opportunities to different grades of shareholder (i.e. silver, gold, platinum) and may also arrange additional or alternative discounts on race day tickets for shareholders.
O2 The business will provide regular updates on the website, via SMS (mobile phone texts) and by newsletters about your horse's training progress and racing plans.
O3 The business will work out the prize money entitlement and credit it to you in the for of a dividend at your 12 month anniversary.
O4 The prize money entitlement calculation, the proportion of the horse funded by memberships and the standard industry distribution percentages to jockey, trainer etc (currently deductions for winning are 23% and placing 20%), for example if a Racing Shares horse was awarded a prize of 10,000 for winning a race, the owners would receive 7,700, or if awarded 1,000 for placing owners would receive 800, this amount is then divided by share percentage.

Ownership Status
ST1 Racing Shares ("the business") is owned and managed by a Racing Shares, all racehorse ownership shares are divided amongst Silver, Gold and Platinum shareholders, all liability falls to Racing Shares and not to Racing Shares shareholders.
STWe operate each horse ownership as a registered partnership with 2 nominated Weatherbys partners and you are entering a private agreement with Racing Shares- Favourites Limited UK Reg.4583637.
ST3 Pay monthly Platinum shareholders receive their ownership certificate after initial 1st payment, all 12 monthly payments are required for this share to be fully valid, though prize money dividends to be paid out by RacingShares within 30 days of horses winning date.

Your obligations
Y1 You agree to abide by the rules of the business and to have reviewed them. 
Y2 You declare that your main interest in being a shareholder is the enjoyment of your allocated racehorse and is in no way based on expected financial returns.
Y3 You accept that free race day tickets are limited in number and may not necessarily be allocated to yourself, unless you are a Gold (1st application per year) or a platinum shareholder in a horse, though if you request free tickets and do not take up the allocation or fail to notify us that you will not be attending then future ticket allocations may be discounted tickets for the benefit of shareholders who do wish to attend.
Y4 You promise not to initiate communication with the horse's trainers, all communications should go through Racing Shares official contact points.
Y5 You undertake to raise any queries or complaints to at info@racingshares.co.uk in the first instance.

Changes
C1 The business rules may change from time to time without notice and may have a retrospective effect as determined by the business's management.
C2 Either you or the business may terminate your ownership without giving reasons. Any refund of monies received will be at the sole discretion of the business.

Assurances
A1 The business is a registered UK limited company (Favourites Limited).  Failing resolution of any dispute the business may choose to nominate an arbitration process which you will be obliged to be bound by. Failing that then English Law will apply in English Courts only.
A2 Contact details and the name of a person responsible for day to day operations and running of the business will be made available on the website.
A3 The business will not allow the use of your contact details by any other party.
A4 Racing Shares ("the business") operate a 30 day full refund guarantee from order date, if you are unhappy in any way simply return your share pack and you will receive a full refund, if at anytime after 30 days you decide to leave we refund a percentage of your keep fee paid. For example if you decide Racing Shares is not for you 6 months after joining you receive 50% of  your pre paid annual keep fees as a refund (minus fees). After the initial 12 months you can leave at anytime, but your share will revert back to Racing Shares ownership and may be resold. All refunds after 30 days are subject to a 12.5% banking fee to cover cost of initial credit card processing and affiliate costs of sale and a 25 administration fee. Any prize money awards within the 1st 30 days will not be applicable to
refunds.

Silver Shareholders Terms and Conditions

Additional Silver shareholders terms :-

V1 Silver shares last for 12 months from date of purchase (or deferred start date if chosen).
V2 Silver shares are not renewable and must be repurchased to continue shareholders entitlements, an option to upgrade at discount or repurchase will be made to Silver shareholders within the last month of validity.

V3 Silver shares may not be resold or transferred.