Our share offer for solar panels at Woodside High School is now open and potential investors are requested to read our share prospectus and to particularly note the references to risk.
This investment will support Woodside High and its neighbour Riverside School by reducing their electricity bills and releasing their own funds for educational needs, reduce carbon emissions, and promote knowledge of and concern for climate change.
READ OUR SHARE OFFER PROSPECTUS then APPLY FOR SHARES ONLINE (below)
IN BRIEF: WHAT IS ON OFFER
Purpose
en10ergy is selling Community Shares to raise £95,000 for solar panels at the school. When this amount is reached the offer will close. (Read more about the project)
Amounts to invest
These must be between £500 and £10,000.
Interest
We expect to pay 4% interest per year, subject to annual en10ergy Board approval.
Investment period
Your investment will last 12 years. One twelfth of the capital invested will also be repaid each year. By the end of twelve years, you will have been paid back the whole of the capital you invested, as well as twelve years-worth of interest. At that point payment on the shares will stop.
Source of income
Payment to shareholders is made out of en10ergy’s income from the Government contracted Feed In Tariffs (FIT) on this solar installation, sale of electricity to the schools at a reduced rate, and funding from other en10ergy income from its two existing solar installations at Marks & Spencer, Muswell Hill, and Muswell Hill Methodist Church, which have now been running for seven years.
Who can invest
Anyone over 16 can invest. (Shares can be bought in the name of someone under 16 by an older person, but see Note below*).
Any organisation (club, church etc.) can collect the minimum £500 and apply to become a shareholder. A nominee must be appointed to act for the organisation.
Donations
en10ergy is also happy to collect smaller donations as contributions towards a shareholding for Woodside High School, to become a shareholder in its own right. Donations can only be made using the paper forms. (See Note below*)
Community shares
The shares being offered by en10ergy are Community Shares. These are intended for raising money for activities which benefit the community as a whole. Like normal shares, they pay the investor something every year, but you cannot sell them to anyone (except back to en10ergy if you wish to withdraw your remaining capital). Their value never rises, but could go down if the project you are investing in is not a success. They are not protected by the compensation schemes which apply to commercial investments. A large part of their value lies in the good they help community organisations to do. (Read more about community shares.)
Refer to ‘Key Facts’ in the prospectus for information about tax implications, and to the Risk table to understand the risks and mitigations of the scheme.
Shareholders’ rights
As a shareholder, you have a say in the running of en10ergy. You will receive its annual reports and accounts and can vote on its decisions at general meetings. All shareholders have only one equal vote in en10ergy’s decisions, not votes proportional to their shareholding. (Read more about shareholding in en10ergy’s rules)
IMPORTANT: Please make sure you read the share offer prospectus thoroughly before deciding to invest. All investments involve risk. If you have any questions e-mail us on info@mhsgroup.org
READ OUR SHARE OFFER PROSPECTUS
APPLY NOW FOR SHARES
Invest online (the quickest and most direct way) at
www.ethex.org.uk/en10ergy
where you will find full details and a downloadable Prospectus.
Or use the forms that can be downloaded in the share offer prospectus (Appendix D or E in the Prospectus) and printed, and follow the instructions on where to send them.
*Note You must make your application on a paper form from the Prospectus, not online, if:
1) you are buying shares for a child (the form in Appendix E)
2) wish to nominate someone to have the shares in case of your death (the form in Appendix E)
3) you are making a donation to a shareholding for Woodside High School (the form in Appendix F)
Application Process and Share Administration
The application and administration for this share offer are being run by Ethex and Registry Trust.
Ethex is a not-for-profit investment platform dedicated to ‘positive investing’, which is a form of ethical investment, putting your money directly into businesses whose mission and impacts you support, and that also offer a financial return. It works largely on-line handling customer orders, finding new businesses and investors, and ensuring businesses comply with regulatory requirements.
Registry Trust is a not for profit data management and administration provider who offer a share registrar service, organise communications with shareholders, and supervise the payment of interest to them.
