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.
ST2 We 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.
Gold
