Brew Dog equity 'shares' bought in error

twhincup

Hi all, not sure if I am in the right place or if anyone can help.
I was scrolling through my facebook and stumbled across an advert for brewdog equity 'shares'.  I like their beer and thought that's cool and hastily bought 4 shares for just over £100. 
When it came through i realised it was nothing like i expected and straight away emailed them and told them so and asked for a refund, they came back to me and said "We are not able to offer refunds on any purchase of shares unfortunately as stated in the prospectus on page 2:​
"(...)Applications, once made, may not be withdrawn save where a supplementary prospectus is published by the Company in which case investors may withdraw their applications during the two Business Days following the publication of the supplementary prospectus(...)".​
There is no mandatory 14 day cooling-off period applicable as this isn’t an FCA controlled contract (just a share issued by a trading company) or a consumer credit or consumer goods sale.​"
My question to anyone here is are they right not not offer a refund as I could not find an answer on the consumer rights information page that help my question
Kind regards
Anthony

eskbanker

Buying shares is normally an irreversible real-time process, so, once you've bought them, if you don't want to keep them you have to sell them to someone who wants to buy, or via a market, rather than expecting a refund as such.

However, first things first, is the site you accessed via Facebook the genuine investment one that you can navigate to from the main BrewDog site?  If the purchase was genuine, then in what way was it 'nothing like what you expected'?

george4064

I’m really interested to know what you were actually expecting from buying the shares??

[Deleted User]

I believe if you own so many Brew dog shares this entitles you to discounts when buying beer online or at their pubs. Was your expectation in relation to this? you need a lot of shares to get the discount from what I understand. 

If I were you I would keep the shares.

[Deleted User]

Hi,

from Brewdog perks:

Lifetime discount in our bars and in our online shop (1-19 shares = 5%, 20+ shares = 10%)

A free beer on your birthday every year

twhincup

ok, so please bear with me i am in unknown territory
The site is genuine but when I thought of buying shares , i thought i was buying real shares in a company e.g. stock market style, prices go up and down etc.
What I actually seem to have got is a 5% discount in pubs were the nearest to me is 20+ miles away and a lapel badge
Stupidity may have just cost me in excess of a hundred quid, just so annoyed at not being able to get a refund, now I just feel scammed

twhincup

It seems he only way to get shot of these is to wait until some sort of sell off day when brew dog announces

[Deleted User]

[Deleted User] said:

Hi,

from Brewdog perks:

Lifetime discount in our bars and in our online shop (1-19 shares = 5%, 20+ shares = 10%)

A free beer on your birthday every year

I looked up these shares on another site, I think it would cost about £900 to get 20 shares. However most people advised against buying them and stated they should not be looked at as an investment, more a membership scheme. 

eskbanker

twhincup said:

ok, so please bear with me i am in unknown territory
The site is genuine but when I thought of buying shares , i thought i was buying real shares in a company e.g. stock market style, prices go up and down etc.
What I actually seem to have got is a 5% discount in pubs were the nearest to me is 20+ miles away and a lapel badge
Stupidity may have just cost me in excess of a hundred quid, just so annoyed at not being able to get a refund, now I just feel scammed

You haven't been scammed (on the face of it) and you have bought real shares in a company, but it's a private one rather than one listed on an exchange, so your selling options are more limited.  Don't be distracted by the shareholder perks, which are intended as a bonus - you do hold a stake in the company via your four shares, just like you'd hold a stake in, say, BT if you bought four of their shares....

twhincup

Sooo many lessons learnt in so little time I'm a brew dog member, not what I wanted but more fool me.  Thank you for taking the time to reply everyone

grumiofoundation

twhincup said:

ok, so please bear with me i am in unknown territory
The site is genuine but when I thought of buying shares , i thought i was buying real shares in a company e.g. stock market style, prices go up and down etc.
What I actually seem to have got is a 5% discount in pubs were the nearest to me is 20+ miles away and a lapel badge
Stupidity may have just cost me in excess of a hundred quid, just so annoyed at not being able to get a refund, now I just feel scammed

If you want to invest in the stock market don’t do so via Facebook!