Leeds Community Homes - OFFER CLOSED

Leeds Community Homes Share Offer - OFFER CLOSED

£100 minimum

Leeds Community Homes has been established as a community benefit society with the primary aim of taking a community-led approach to creating more affordable homes in the city.


Minimum raise for offer to proceed

The minimum raise for the offer to proceed is £200,000. 

If Leeds Community Homes have not reached their minimum target, they will not proceed with their community share offer. No shares will be allocated and any money committed by investors will be returned. All money pledged electronically during the share offer period will be held in a secure account by Ethex. During this period, Leeds Community Homes will not have access to these funds.


Community Shares Unit - Booster Programme

Leeds Community Homes have secured the support of the Booster Programme, which is funded by Power to Change and run by the Community Shares Unit. Under this programme up to £100,000 is available to match applications for shares from the public. This means that for every pound invested by individuals, up to £100,000, another pound will be invested in match shares.

The match shares will be held by Co-operatives UK, a partner in the Community Shares Unit, and will be subject to the same terms and conditions as other Leeds Community Homes members, except for its right to withdraw share capital, which will be restricted to a pro-rata amount.


Financial return

It is in 2020 that Leeds Community Homes expect to begin to pay interest on shares – with 2% interest due to accrue to members’ share accounts from 2020.

Payment of interest and capital is not guaranteed and is dependent on the continued success of Leeds Community Homes' business model.


Social return

By investing in this share offer you will enable Leeds Community Homes to undertake their first project – to provide 16 permanently affordable homes in the centre of Leeds.


Minimum investment amount

£100


Maximum investment amount

£36,000


Fees payable to purchase this product

Basic account Member account
None None

Statutory charges

None


Getting your money back

Shares in Leeds Community Homes cannot be sold, transferred or exchanged (except on death or bankruptcy) or traded on any Stock Exchange and there is no possibility that they will increase in worth beyond their nominal value.

After a fixed period of three years following the closure of the share issue, shares are withdrawable on three months notice. Leeds Community Homes will not pay you back more than you paid for your shares.

Although shares are withdrawable, this is subject to three months’ notice, and is at the discretion of the Directors, especially if there are insufficient funds to make repayments.


How secure is your money?

Payment of interest and capital is not guaranteed and is dependent on the continued success of Leeds Community Homes' business model.

This investment is not covered by any government compensation scheme.


Keeping track of your investment

The details of your investment are recorded on your share certificate and by the Society.

If you subscribe to the Ethex Portfolio Service you can track your investment and follow the performance of the business in your personal portfolio.

Share certificates are issued directly by the Society, not by Ethex.


Tax considerations

Leeds Community Homes anticipates paying interest gross to investors, unless required to do otherwise by HMRC. Investors should report their gross income to HMRC in their annual tax return.


Qualification

This investment is available to persons aged over 16 and to organisations.


Provisions on death of a Member

On the death of a member, the shares would be transferred to the personal representative (executor), who can request to withdraw the shares and the proceeds will be added to the estate.

Offer Closed

 As of 31st January 2017 this offer is closed.

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