By the 5th of April we had about 420 members, who had invested about £815,000. This is a healthy foundation for looking for a loan to finance the construction, which can then be paid off by reopening the share offer.

So is the offer no longer open?

Sorry, not just now, we set 31st March as a closing date. If you would like to register your interest in a new issue, please drop a line.  

The closing date was set because of concern about the ending of the Enterprise Investment Scheme (EIS), and how its replacment by Social Investment Tax Relief (SITR) would work. We were advised to issue share certificates by the end of the financial year, then wait and see. 

Subsequent clarifications from HMRC are helpful. They are trying to make the change as smooth as possible for qualifying companies like ours (while blocking low risk investments). However as well as being in a busy and fast moving period, we have a practical difficulty, that we have run out of prospectuses. Before reprinting we need to check what to say about EIS and SITR. So we will pause and take stock. 

This is what we said about the share offer:Prospectus image

To see it online, click on the share offer document.  We urge you to read it. There is risk in this investment: if there were not, it would not qualify for the EIS tax rebate. We hope you will want to invest, but with your eyes open! 

The printed version is available at Added Ingredients, in Stert Street near the Market Place - thank you Jill. Or email info@abingdonhydro.org.uk.

To save finding a stamp, Jill can also accept the applications.

What will we need from you? In brief, application forms and a cheque! 

The forms are in the offer docment, but in case you need to download and print them, here is the main application form, and the extra form for children and for nomination if you die, and the corporate application form. Again, we urge you to read the whole document! 

If you want to increase your existing investment, or want to make some change, just use the existing application form to show the changes, and write on it what you are doing so we can update your details.

A cheque? If this is a problem for you because you no longer use them, please email info@abingdonhydro.org.uk to make a bank transfer. We don't want to put the account details online, for security reasons, and we must have your account number on the applicaton form so we can link it to the payment. 

Receipts and share certificates: sorry we didn't have the capacity to send out receipts or acknowledgements to everyone, or the means to do an automated email merge, but if you would like one do drop a line. We expect to send most of the share certificates at the end of the financial year (5th April). Certificates for the final few weeks will be ready a bit later, but the date on the certificate will be before 5th April.

Key features

  • Green, ethical, with a community focus: a local attraction making renewable energy visible
  • A 20 year investment with fixed price shares
  • Like a mortgage in reverse, the society pays interest on your shareholding (target rate 4%) while buying back shares
  • Profit goes into a community fund, for local environmental projects
  • Because there is risk, we qualify for the Enterprise Investment Scheme which gives a tax rebate of 30% of your investment.
  • Repayments can go into a childrens savings account - children can receive shares and savings at age 16: a Christmas gift with a difference!

News...

Pictures of the launch are on a news page, and updates are on the updates page.

Would you like to receive email updates? If so you can register on this site, by clicking "Join This Website" at the top and giving your email address. 

Our investors: where do they come from? Here is a map: Investor map

As you would expect, most are from Abingdon, but about 1/3 come from further away. We appreciate this expression of commitment and confidence from those who are not local, and hope you will enjoy walking round it in due course. Not many from Oxford - can we invite you in too?

Local investor map

For locals, here's a closer view of Abingdon: