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Terms and Conditions

1. Pride of Our Footscray does not intervene in any discussions between buyers and sellers of shares(s) in the bar.
2. When a share(s) have been purchased or sold the paperwork necessary to complete the transfer will be provided by Pride Bar Chief Bar Officer Mat O'Keefe.
3. Any investment in Pride Bar shares should be considered speculative and you should not invest more than you can afford to lose.
4. The Pride of Our Footscray Community Bar Share Exchange Platform (This Platform) is operated by an independent third party (INTJ Billing Pty Ltd).
5. The platform provides an independent; at arms length; open and transparent and fair share exchange platform that enables existing shareholders.
to put their share(s) up for sale and for prospective shareholders to bid on and purchase these shares.
6. The platform provides a bidding process so that existing shareholder can put their shares up for auction and buyers can bid on and purchase these shares.
7. The shares are offered for auction only and with a specific timeframe so everyone in the market who sees shares have become available know that from the date/time they hit the market they have a set number of days until the auction ends and they all have a chance to bid on them.
8. This share exchange platform marketplace serves as a platform where existing Pride Bar shareholders and the numerous and ever growing band of prospective Pride Bar shareholders can meet, interact and transact with each other and since the number of market participants is numerous each is assured of a fair price. Buyers bid the shares up to whatever they think they're worth and sellers receive the amount of money that is fair based on the number of prospective buyers and the market price.
9. This platform operates independently and at arms length from the business.
10. The platform is responsible for ensuring price transparency, liquidity, price discovery and fair dealings in Pride Bar share trading activities.
11. The platform provides a) Fair dealings in Pride Bar share transactions, b) Efficient price discovery, c) Security and validity of transactions, d) Equitable access to the shares by everyone, e) Transparency in the pricing and bids of other market participants and f) Timely access to the shares in the marketplace so participants know when they’re made available for sale, at what starting price, how long the auction goes for, how to bid on them and buy them.
This solves each of the problems with the existing way that shares in the bar were purchased and sold eg:
How does the existing shareholder choose a buyer? (what is fair?)
Based on what criteria does the shareholder choose a buyer? (what is equitable?)
How does the existing shareholder price the share? (how is transparency achieved?)
How quickly the share sale takes place which does not give time to all market participants interested in purchasing the share (what is a fair time for the shares to be on market?)
There was no transparency of price, other market participants, current offers/bids for the share(s) (transparency and openness).
12. INTJ Billing Pty Ltd ABN 30 607 261 398 is an LGBTQIA+ 100% wholly owned and operated business.
13. The Pride Bar Share Exchange Platform is a system administed by INTJ Billing Pty Ltd in association with The Pride of Our Footscray Community Bar.
14. Investment in securities involves risk. Share prices rise and fall. The payment of dividends and the return of capital are not guaranteed. Past performance is not indicative of future performance. Shares in Pride Bar should be considered speculative.
15. INTJ Billing tries to ensure that the information provided on this platform is complete and correct but readers are advised to check any important item(s) with Pride Bar Chief Bar Officer Mat O'Keefe or INTJ Billing CEO Clarke Towson before making any decisions.
16. This market is covered by an exemption under section 791C of the Act;
17. The operator of the market (INTJ Billing Pty Ltd) is not licensed under Part 7.2 of the Act;
18. The operator is not subject to the legal obligations that apply to the operator of a licensed market, including the requirement, to the extent that it is reasonably practicable to do so, to do all things necessary to ensure that the market is a fair, orderly and transparent market.
19. Corporations (Low Volume Financial Markets) Instrument 2016/888:
20. Approval was granted from The Australian Securities and Investments Commission (ASIC) for INTJ Billing to be admitted to the register of entities under the Corporations (Low Volume Financial Markets) Instrument 2016/888 on Wednesday October 13th 2021. This approval was necessary in order for INTJ Billing Pty Ltd to run this platform and provide this marketplace for the buying and selling of shares in The Pride of Our Footscray Community Bar.
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