Membership of IECBS is open to individuals and corporate bodies (whether private sector, third sector or public sector). Each shareholder becomes a member of IECBS, and is entitled to one vote on formal resolutions (and election of Directors) at General Meetings, irrespective of the amount invested.
The initial share offer closed at the end of March 2014, having successfully raised some £535K. If there is sufficient interest in a second offer the IECBS Board will consider doing one, though this will not be in the short term. While we understand that a second offer may be eligible for HMRC Enterprise Investment Scheme status, this is not confirmed and such confirmation will be part of the share offer process.
If you wish to be on the list of potential future investors, please fill in the contact form, indicating if possible your potential investment (between £200 and £20,000).
The full initial prospectus is available here:
IECBS has decided to offer one class of shares, allowing a maximum investment of £20,000, per person or organisation: Withdrawable – which may be withdrawn, subject to the consent of the Board and in accordance with the Rules of IECBS and applicable law; minimum investment £200; applications to be for sums in multiples of £50; maximum investment £20,000 (husband and wife or partners may each invest up to £20,000).
By law, the interest payable to shareholders in community benefit societies is limited to what is “necessary to obtain and retain enough capital to run the business”. As soon as the Project is generating revenues, IECBS aims to pay 4-5% p.a. interest on the balance of each member’s shareholding, subject to financial performance in the previous year. However, IECBS cannot guarantee any particular level of financial return.