Please note that this information is no longer updated and is for reference purposes only.
Over the lifetime of the project over £63,000 will be saved by Woodside school through buying electricity generated from the solar panels installed by en10ergy, with 35 tonnes of carbon dioxide prevented from entering the atmosphere each year.
The withdrawable shares will be fully repaid after 12 years.
£55,000. If the minimum isn't reached money will be returned to investors in full.
4% of the initial sum invested, paid annually.
en10ergy will continue to pay 4% of the initial sum invested across the full 12 years of the investment period, even though each year a 12th of the initial capital invested will be repaid to investors.
This equates to an Internal Rate of Return (IRR) for the investment across the full 12 years of 6.6%.
Payment of interest and capital is not guaranteed and is dependent on the continued success of the en10ergy business model.
Woodside School High School and its partner special school, Riverside, will save over £63,000 in electricity costs over the lifetime of the project using the power generated by the solar panels installed by en10ergy for this project. The clean energy generated by the solar panels means that each year 35 tonnes of carbon dioxide will have been prevented from entering the atmosphere.
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The shares have a minimum initial term of three years, during which they cannot be withdrawn. From three years after purchase, members may apply to withdraw their shares from the Society on giving 180 days notice, subject to the discretion of the Board (who may reduce the period of notice). The shareholder would at that time receive the face value of their shares, unless, in the Board’s view, the financial position of the society dictates that the redemption value must be less.
Please note that each year investors will be repaid a 12th of their initial investment sum unless, in the Board’s view, this is not possible without financially destabilising the society. This repayment of capital will not affect the amount of interest paid each year, which is fixed at 4% of the initial sum invested.
These withdrawable shares are an unsecured investment and will rank behind secured or preferential creditors. In the event of the en10ergy's financial failure, the shares would have the status of an unsecured creditor and may not be capable of being repaid in full or at all, should the proceeds from a sale of the en10ergy's assets fail to cover all unsecured liabilities.
Annual accounts will be prepared by the Society's accountants, presented to the Shareholders following the Annual General Meeting and published on the Society's website.
Share issue administration, share registrar and ongoing shareholder relations will be managed under contract with Registry Trust Limited. www.registry-trust.org.uk
If you subscribe to the Ethex Portfolio Service you can track your investment and follow the performance of the business in your personal portfolio.
The precise tax treatment of a Shareholder will depend on the Shareholder’s individual circumstances and the law and practice in force at the relevant time and may therefore be subject to change in the future. If applicants are in any doubt about their tax position they should consider taking advice from a suitably qualified professional.
en10ergy Community Benefit Society will pay interest to Shareholders without deducting any amount by way of tax. Applicants should be aware that they may need to pay tax on that interest, and therefore may need to declare it to HMRC. For many applicants, this should be done by declaring the interest they earned from en10ergy Community Benefit Society on a self assessment tax return.
From the 6 April 2016, UK basic rate taxpayers are able to earn up to £1,000 in savings income tax-free.
Anyone over the age of 16 may apply for the shares.
Co-operatives, community benefit societies, companies and other incorporated associations may also apply for shares. No commission will be payable to introducers of potential investors.
As of the 9th June 2017 this offer is closed
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