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Brighton Energy Coop

Brighton Energy Coop

£300 minimum

Brighton Energy Coop is raising finance in order to fund the installation of solar PV onto the roofs of up to nine schools in the Brighton and Hove area.


Minimum raise for offer to proceed

£25,750


Financial return

This offer has a target interest rate of 5% per annum, accruing from April 2020 with first interest payment in April 2021


Social return

Since its start in 2010 Brighton Energy Coop has now raised nearly £1.9m from over 500 members and built over 20 large solar PV systems. The systems that will be funded through this share issue will prevent 225 tonnes of CO2 from entering the atmosphere.

BEC also runs a yearly Community Fund which provides renewable energy grants and grants for energy efficiency projects. Each year Brighton Energy Coop's members vote to allocate the fund’s cash to local renewable energy and energy efficiency projects. The fund is open for any organisation in the BN postcode area


Minimum investment amount

£300


Maximum investment amount

£100,000


Getting your money back

Payment of interest and capital is not guaranteed and is dependent on the continued success of Brighton Energy Coop's business model.

Brighton Energy Coop's projections are based on the assumption that capital is returned to members at an average rate of 4% a year over the 25-year life of the project.

Shares are withdrawable up to a maximum of 5% per annum of share capital in issue at the end of the financial year. Within this ceiling, individual requests to withdraw will be at the discretion of the Board. The Board may resolve at any time to require any proportion of its share capital to be withdrawn, in which case it shall treat as agreed to be withdrawn on behalf of every member (and not some only) that proportion of the shares held by them (with such rounding to the nearest whole number of that Proportion which is a fraction as the Board may determine). All members are deemed to give any consents required to the withdrawal of their shares in this manner.

The scope for being able to withdraw shares in the future will be dependent upon the Society developing a successful business and hence cash flows to pay out share withdrawals or contingent on the Society raising additional capital for the purpose of paying out share withdrawals. In the case of joint investments, all investors concerned must agree to a withdrawal. Shares will be repaid at the original price

This investment is not covered by any government compensation scheme.


How secure is your money?

Payment of interest and capital is not guaranteed and is dependent on the continued success of Brighton Energy Coop's business model. This investment is not covered by the financial ombudsman and there is no deposit guarantee scheme for this product.

In the event of the society being dissolved, after paying creditors any remaining surplus would then go to paying back initial investments on a pro rata basis, plus any interest due. Should there be any surplus after this point, it will be distributed to other organisations in Brighton and Hove with similar objectives, as chosen by the members.


Keeping track of your investment

The details of your investment are recorded on your share agreement with the Society. 

Each year Brighton Energy Coop will publish a set of accounts.

Each Brighton Energy Coop send an shareholding statement to all their members via an independent specialist (ShareEnergy) who manage membership communications and their share register


Membership

Voting rights are held solely by members. Any investor, no matter what size their investment is, will become a member of Brighton Energy Coop with one vote.


Nomination and Inheritance Tax

In the event of the death of a member, the repaid value of the shares will normally be added to the estate for probate purposes. You may elect to nominate a recipient for the value of the shares (but only up to the amount set out in law) and thus (under current legislation) remove the value of the shares (up to the amount set out in law) from your estate for probate purposes i.e. the shares may pass to the nominee outside the Will of the deceased. The nominated property will nevertheless form part of the deceased’s estate for Inheritance Tax Purposes, unless the estate is an excepted estate.

Brighton Energy Coop Shares would generally be expected to attract Business Property Relief at rates of up to 100% for IHT purposes, provided the shares have been held for at least 2 years.

Brighton Energy Coop will with their Registrar to collect details of Nominees, once share raises have completed - new investors will be contacted with forms to complete.


Investing for children

Parents and grandparents can invest for their children and grandchildren. Interest earned will be paid to the beneficiary named by the investor in their membership application. Shares owned this way are exempt from inheritance tax when passed on.

Brighton Energy Coop will with their Registrar to collect details of invetments made on behalf of children, once share raises have completed - new investors will be contacted with forms to complete.

Offer Closed

As of the 31st October 2019, this offer is closed.

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