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Co Cars

Co Cars 2020 Share Offer

£250 minimum

Co Cars is a not for profit Community Benefit Society in the business of shared mobility. Its mission is to provide low carbon, on demand, affordable shared mobility for all with a vision to create greener, calmer more connected places where people thrive.

Investment is in Community Shares which are targeting a 5% interest rate and can be withdrawn 18 months after the offer closes.

Minimum raise for offer to proceed

£100,000


Financial return

This is primarily a social investment, but Co Cars can pay interest on share capital. Co Cars has a target interest payment for these withdrawable shares of 5% per annum. Interest will start to accrue from the 1st August 2020. Shares can be withdrawn from a point 18 months after the share offer closes.


Social return

Co Cars was the first company in the UK to run a shared electric bike hire scheme and the only one that runs both shared electric car and bike schemes.

Together, its cars and bikes have already removed 149 tonnes of CO2 per annum by taking cars off the road, modal shift and by sharing its low emission fleet.

Co Cars' mission is to provide low carbon, on demand, affordable shared mobility for all with a vision to create greener, calmer more connected places where people thrive.


Minimum investment amount

Co Cars are offering £1 shares, with a minimum investment of £250.


Maximum investment amount

Co Cars are offering £1 shares, with a maximum investment of £100,000 for individuals or organisations that are not Co-operatives or Community Benefit Societies.


Getting invested money back

Shares are withdrawable by selling them back to the Society. Co Cars will allow withdrawals to take place 18 months after the share offer has closed. 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 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, are contingent on the Society raising additional capital for the purpose of paying out share withdrawals.


How secure is invested money?

Payment of interest and capital is not guaranteed and is dependent on the continued success of Co Cars' business model. This investment is not covered by the Financial Ombudsman and there is no deposit guarantee scheme for this product.


Keeping track of your investment

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

Each year Co Cars will publish a set of accounts.


Membership

Every investor becomes a member of the Society, eligible to an equal vote on all matters at the charity’s AGM and in elections to the Society’s board of Directors (elections in which any member can stand too).


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.


Who can invest

Individuals over the age of 16, charities, trust funds, Small Self Administered Pension Schemes, nominee services and corporate entities, groups and associations, and other organisations may invest in this offer. You can also buy and hold shares on behalf of a child. Shares cannot be held in joint names.

£47,3067%
Applied for to date, of
£600,000 target

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