Dear Co Cars Subscriber,
Share offer extension
Thank you for investing in our Community Shares. Your support means that we will be able to significantly expand our network of shared, electric cars and e-bikes across Exeter and the South West.
When we launched our offer in February, we had no idea what the next few months would hold. However, as well as many challenges, this collective experience has also demonstrated that another way of doing things is both possible and achievable.
For us, this means interest in our vision of a shared, electric and zero carbon future has grown exponentially, and we have now been approached by a social institution who is interested in investing in the business through participation in our Community Share offer.
If successful, we would get very close to our original £600,000 target, allowing us to fully realise the plans outlined in our share offer document. In order to proceed with the required due diligence, the share offer period will be extended by a month and will now end on 31 August 2020.
This means Ethex will continue to hold your subscribed monies until the offer formally closes. Investments made on or before the 31 July 2020, will accrue interest from 1 August 2020 as outlined in the offer document. However, any further investment made after 31 July 2020 will accrue interest from 30 November 2020.
The phrase ‘build back better’ has become common currency over the last few weeks. However, we passionately believe that what we do is a shining example of how this is possible. Your investment in our business during this most challenging of times is proof of this.
The additional month also gives other new investors an opportunity to get involved. Therefore, if you are able to share the link to our offer with your own networks it would be much appreciated: www.ethex.org.uk/CoCars.
Thank you for your support,
on behalf of Co Cars Board of Directors