Westmill Solar

Transferable Shares

SECONDARY MARKET

Investment product details

Buying transferable shares in Westmill Solar Co-operative puts your money at the heart of the business, giving you a stake in its ownership and the right to interest and to vote. It also entitles you to stand for election as a director.

Transferable shares can only be bought when a party that already owns some is willing to sell them, or when the business does a new share issue. Currently, Westmill Solar co-operative transferable shares are only available to purchase on the secondary market, subject to availability.

Transferable shares 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.

You can find a guide to the process of buying and selling shares on the secondary market here.

Shares to sell? If you're looking to sell Westmill Solar co-operative transferable shares, you can use our simple online form, available here, to place an order to sell.


Financial return

Interest and capital repayment policy

The Co-operative's policy is to pay a sum equivalent to all of its operating profits as interest to shareholders each year.

In addition, a proportion of the surplus funds generated to cover the original installation costs of the solar plant may be returned to shareholders as the members see fit. 20% of share capital was returrned in 2014 and it is expected that a further 5% a year will be returned for the following nine years.

Historic interest payments

Westmill Solar declared its first interest payment  in June 2014. The original share issue was carried out in July 2012, with shares being issued at £1.00 each. 

Date paid Amount Financial return
July 2014 2.0 pence 2.0%
Aug 2015 10.0 pence 10.0%
July 2016 6.0 pence 6.0%
December 2016 2.0 pence 2.0%
July 2017 7.0 pence 7%

Historic capital repayments

A partial return of each share's original capital value of £1.00 was agreed in June 2014.

A second return of capital was agreed in May 2017 equal to one share of every 8 shares held by members, which equates to 10% of the initial share capital subscribed, and is due to paid later in 2017

Date paid Amount % of original share value
10/11/14 20 pence 20%
02/11/17 36.5 pence 12.5%

Actual and forecast shareholder returns

The graph below shows the forecast interest and capital returns for 2015-37, when the panels are expected to be decommissioned. Actual interest and capital returns are shown for 2014. 

Whereas interest payments are taxable, returns of capital are tax free.

Notes

The graph suggests an IRR of 9.7% across the full 24 years.


How interest is paid

Interest is paid in June or July to shareholders registered at the time of the June Annual General Meeting. They are automatically paid to your nominated bank account by BACS.


Why invest in Westmill Solar?

Westmill Solar is the largest community owned solar park in the world.

Over the last year, it prevented emissions of 2,334 tonnes of carbon dioxide through the generation of renewable energy.
Over the last year, it prevented emissions of 2,334 tonnes of carbon dioxide through the generation of renewable energy.

Read more

Minimum investment amount

200 shares


Maximum investment amount

£100,000


Fees payable to purchase this product

Normal Fees Portfolio Service subscriber fees
1.5% of your investment amount (minimum charge £15, maximum charge £300) 1% of your investment amount (minimum charge £10, maximum charge £200)

 Read more about our Portfolio Service.

Statutory charges

Investments of £1,000 or more will incur stamp duty of 0.5%


Getting your money back

You can get back the money you invest in these shares by finding someone else that is willing to buy them at the price you want to sell them at.

If you hold shares and you cannot find anyone to sell them to, you may be able to ask the directors of the co-operative to redeem the shares, although this is entirely at the discretion of the directors. Redemptions can only be made at the original sale price of £1.00.


Selling your shares

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

If you wish to sell your shares you will find all of the information you need to place an order to sell online here.


How secure is your money?

Buying shares in Westmill Solar makes you a member and part-owner of the business. This means that you receive a share of any interest paid out. If the business goes well, you may be able to sell your shares for more than you paid for them. However, if it does not make profits you may not receive interest and you may not be able to sell your shares for as much as you paid for them.

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 company's registrars.

The company sends out a full annual report and social audit once a year, in February, together with an invitation to the annual general meeting.

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


Tax considerations

Interest is paid gross, without deduction of tax. You should declare the interest you receive on your tax return. 


Voting rights

This investment entitles you to one vote in Westmill Solar regardless of how many shares you hold. 

Buy shares

Buy online

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