(Application forms to buy shares, whether as a new shareholder, or to increase your existing investment, are at the end of the prospectus. )
en10ergy is opening a new share offer to raise £9000 for the completion of the Fortismere pv installation project, which was installed last month, and is now generating power for the school. The main cost of this project has been covered by funds raised in our 2017 share offer. That offer was principally for the installation at Woodside High School, but not all was used there as the scale of that project had to be reduced for technical reasons. (In its final form it generates up to 50 kiloWatts). The remainder of the funds has provided the basis for our new 30 kiloWatt installation at Fortismere, and we are now looking to raise a final £9000 to complete the financing of this project.
We would like, therefore, to invite our existing shareholders, as well as staff and parents of Fortismere School, who would like to invest – or increase their existing investment – in this scheme to take advantage of our new share offer. The shares will repay their capital with interest at 3% over 12 years. (This is a similar procedure to the Woodside shares, but the interest offered is 3% rather than 4%*, due to changes in the FiT rate and mains electricity tariffs). We are asking for minimum investments of £250 and maximum of £1000.
Of shareholders who contributed to the Woodside Scheme, many allowed us to retain their investment to redeploy to this new project. We are most grateful for this. For those shareholders, half your investment (for the Woodside panels) will continue to return 4% a year, while the shares allocated to the new scheme will return 3% a year*. We hope that you will still feel that this is a scheme worth supporting, as the school benefits from cheap electricity and saves 16 tonnes of carbon a year.
* For the money invested in the Fortismere scheme the 3% return will be based on the reducing balance of capital each year. Those interested in investing should do so only after reading the Share offer prospectus in full and taking appropriate financial and other advice. Community shares are fully at risk, and you could lose some or all of the money you invest. You have no right to compensation from the Financial Services Compensation Scheme, nor any right of complaint to the Financial Ombudsman Service
New share offer prospectus
The full prospectus for the new share offer to raise £9000 for the Fortismere School installation is available to download here (pdf). Application forms to buy shares, whether as a new shareholder, or to increase your existing investment, are at the end of the prospectus.