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Thera Trust

Thera 2018 Bond

Investment product details

The bonds are transferable and may be sold via the Ethex Bulletin Board.

Transferable bonds can only be bought when a party that already owns some is willing to sell them, or when the business does a new bond issue.

Transferable bonds can be sold on to third parties - provided willing buyers can be found. They also vary in value, subject to the price that sellers and buyers want to sell and buy at. Bonds can only be sold to individuals who hold (or are prepared to open) an account on Triodos Crowdfunding (https://www.triodoscrowdfunding.co.uk/), who act as the Registrar for the Thera Trust 2018 bond issue.  


Financial return

Interest policy

Thera Trust charity bonds intends to pay a fixed rate of 5.5% gross per year payable annually in arrears. Payment of interest and capital is not guaranteed and is dependent on the continued success of Thera Trust's business model.

How bond interest is paid

Bond interest is due to be paid on the 31st March in each calendar year from 2019 until 31 March 2024 at which point the bond is due to be repaid. Payments can be made by cheque or direct to your bank account. Payment of interest and capital is not guaranteed and is dependent on the continued success of Thera Trust's business model.


Social return

Investments made on Ethex don’t just offer the prospect of a financial return. We analyse and report on the ‘social performance’ of each investment, to reveal the ‘social return’ your money delivers. Read more

Thera supports some of the most vulnerable people in society. Many of them have complex support needs and require one-to-one support, 24 hours a day, at home or alongside them in their local community.

£4m of the proceeds from the 2018 Bond Offer will be used to enable Thera to purchase around 15 homes for 25 people and to support more beneficiaries. A further £1m will repay capital due for repayment in 2018.

Alongside this Bond Offer, Thera has also extended its external financing facility which will enable the charity to lease another 40 properties to house around 70 further individuals. In total therefore, Thera plans to lease or buy around a further 55 properties which will benefit almost 100 individuals up to 2023.
 


Minimum Investment amount

£100


Maximum Investment amount

None 


Fees payable to buy and sell this product

£20 administration charge per transaction (payable both buy the buyer and seller).

Statutory charges

None


Getting your money back

Your bond is due to be repaid on 31 March 2024. Payment of interest and capital is not guaranteed and is dependent on the continued success of Thera Trust's business model.

If you want your money back before then, you can only do so by finding someone else that is willing to buy the bonds at the price you want to sell them at.

Ethex provides a service designed to help match up buyers and sellers of these bonds, but the provision of this service does not guarantee that you will be able to buy or sell, nor the price at which you may be able to do so.


Keeping track of your investment

The details of your investment will be recorded on your bond certificate and by Thera Trust's registrars.  Triodos Crowdfunding are the appointed Registrar for the Thera Trust 2018 bond issue, and individuals looking to buy bonds will need to hold (or open) an account on this platform (https://www.triodoscrowdfunding.co.uk/) to hold and view their investment.

Bondholders will receive a Thera Trust annual report which will contain details of how the Bond monies have been utilised and compliance with the Interest cover and Asset cover Covenants


Tax considerations

Interest is paid net of UK basic rate tax. Generally, payments of interest on the Bonds will be made with deduction of or withholding on account of United Kingdom income tax at the basic rate of income tax, (currently 20%).

For more information on the tax implications to you of this investment Ethex recommends that you consult with a suitably qualified tax advisor.


Eligibility

This investment is a UK investment open to everyone aged 18 years of age or over.

Prospective buyers of bonds must hold (or be willing to open) an account on https://www.triodoscrowdfunding.co.uk/ who act as Registrar for the Thera Trust 2018 bond issue.

If you are not a UK resident, please contact us at help@ethex.org.uk and we will discuss the terms and conditions of investing in this product with you. 


Innovative Finance ISA

Please note that it is not possible to place the Thera 2018 bond into the Ethex Innovative Finance ISA.

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