Share offer name

Solar power in the UK

Offer Document

Offer document

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The information on this website is only a summary of the offer document.

Before applying for shares the whole text of the accompanying share offer document should be read.

Important information for prospective investors


If you are in any doubt about the information on this website, the content of the accompanying prospectus or the action you should take, you should immediately consult a person authorised for the purposes of the Financial Services and Markets Act 2000, who specialises in advising on investment in shares and other securities.

Prospective investors should be aware that the value of the shares, which will not be quoted, cannot go up, but can go down. In addition, there is no certainty that investors will get back the full amount they invest.

Investment product type Withdrawable shares.Withdrawable shares can’t be sold on to anyone else, but you can withdraw them by asking the Society to return your investment (subject to terms and conditions – see below). The price of a withdrawable share does not increase, although in some circumstances it can decrease. Read more
Financial return Company has estimated a return of 5% from year 1 which could be up to 12.9% if you are eligible for SEIS tax relief, which Harborough Energy has applied for
Seed Enterprise Investment Scheme (SEIS) Company has applied to HM Revenue and Customs for this share offer to be recognised for the Seed Enterprise Investment Scheme (SEIS). Whilst the management of Harborough Solar One will seek to ensure that the project is run in compliance with SEIS rules we cannot guarantee that the investment will be eligible for the relief.If you are a qualifying taxpayer you will be able to claim back 50% of the money you invest, increasing your effective rate of return. Please note that the tax reime is currently in transition.The first £150,000 invested will be eligible for SEIS (subject to approval), this will be allocated on a first come, first serve basis. The remaining investors will still be eligible for EIS (subject to approval) which allows 30% of the money to be claimed back as above.
Interest policy The society forecasts paying Members a return of 5% per year (before tax relief).
How interest is paid The first interest payment will be made following the AGM in March 2017. Interest is paid annually in arrears into a bank account in your name.
Minimum investment amount £250*(*local investors living within Leicestershire and Northamptonshire may invest a minimum of £100)
Maximum investment amount £20,000
Fees payable to purchase this product None
Statutory charges None

Supporting the community purpose of Project name should be the primary motivation for investment and investment in the Society should be seen as a long-term social and environmental investment.An investment in Project name is an investment in a trading business and is not a loan or deposit. Depending on the personal circumstances of the shareholder and the proportion of assets they are considering investing, it may be inappropriate to invest savings in Project name.In addition to the usual risks associated with investment in any business, the following risks should be carefully considered before investing. Although the Directors will seek to minimise these risks they could result in a negative affect on the operating results and cash flow of the Society and may affect the ability to pay interest and return the original investment. The risks outlined below are not exhaustive and there may be other risks of which the Directors are not aware.

General investment risks
  • Adverse changes in the marketplace (e.g. changes to governmental or European regulations or changes to prices or other market conditions) could adversely affect the Society’s viability and financial performance.
  • Changes in laws, regulations, government policy or applicable UK tax arrangements (including any changes to bases of taxation, tax relief and rates of tax) may affect the Society and the attractiveness of an investment in the Society.
  • The Society’s business may be affected adversely by changes in economic, political, administrative or other regulatory forces.
Risks relating to the legal structure of Company
  • If the Society does not achieve the financial performance forecasted at the time of the Offer, shareholders may not get back the amount invested.
  • The target share interest rate may not be achieved if the Society does not achieve the financial performance forecasted at the time of the Offer. However, the intention is to pay the target share interest rate subject to the conditions set out in the Rules.
  • Shares can only be withdrawn in accordance with the Rules and the ability to withdraw shares can be suspended at the sole discretion of the Board (even if a notice of withdrawal has already been submitted to the Society). If the Society lacks sufficient cash to enable Shares to be withdrawn when desired, withdrawal may be delayed, or not possible. Investment in the Shares should be seen as a long term proposition.
  • Successful applicants will become Members of the Society and thereby own the Society. If the Society is unable to meet its debts and other liabilities, Members could lose up to the whole amount held in Shares (but no more than that amount).
  • Investments in Community Benefit Societies are not like deposits at a bank. Neither the Financial Services Compensation Scheme, which applies to bank accounts, nor the Financial Ombudsman Service apply, nor is the Society subject to prudential supervision by the FCA.
Risks associated with the business and the offer
  • The planned installations may take longer than presently estimated which could delay the Society’s ability to pay Share Interest.
  • If the Minimum Amount is not reached then the Board may return all shareholding monies received. There will be no deduction of issue costs.
  • The target maximum to be raised through the Share Offer may not be reached meaning fewer projects can be completed.
  • There can be no guarantee that the EIS or SEIS status will be granted. Furthermore the Society can make no guarantee that individual shareholders will be eligible to claim such relief.