• How to invest

Become a Member

Low Carbon Gordano is a community benefit society which is a democratic, operating on a one member, one vote irrespective of shareholding basis, Member-led organisation.  Everyone who buys shares becomes a Member of Low Carbon Gordano and has a vote at the Annual General Meeting. We now have over 460 members.

Low Carbon Gordano is currently open to Membership applications for new Members. To become a member, there is a minimum requirement to apply for 50 shares (£500) as this is the required shareholding for Membership. See below for more information.

Share offers to support specific projects

Further share offers will be posted on this website as and when they arise. Only Members can hold shares in LCG and existing members will be given advance notification of any new investment opportunities before they are made public.  If you would like to register your interest in becoming a Member by buying shares to fund a future project please send an email to  contact@lowcarbongordano.co.uk and we will keep you posted.

So far, Low Carbon Gordano has raised over £3 million from two share offers:

  • The first community share offer was held to raise funds for the Moorhouse Farm Solar Array. This share offer closed in September 2014 with the full £2.2 million having been raised; and
  • The second was held to raise funds for the Ham Lane Solar Array at Kingston Seymour in North Somerset.  This closed at the end of July 2015 having raised £970,000 in just 6 weeks from 175 investors at an average of £5,600.

Membership Share Offer

Low Carbon Gordano is open to applications from people who wish to become Members and this offer is not time-bound: applications are welcome any time.

To become a new Member please apply for Membership and purchase at least the minimum shareholding for Membership, which is 50 shares at £10 each (£500).

If you are interested in learning more, and applying for Membership then please click here to download and read the current Membership Share Offer Document which includes the application form.

Additional information

Supporting information, as referred to in the Membership Share Offer Document, is also available by clicking on the buttons below.

(The full policy can be downloaded HERE)

AIM OF THE POLICY

To minimise the cost of capital by the LCG Board using its surplus cash to re-purchase members’ shares

IMPLEMENTATION OF THE POLICY

1. The LCG Board will set an annual target range for the share repayment at the same time it considers: the interest rate payment; the Community Benefit Fund grant; alternative capital finance; and capital requirements of the new project pipeline (normally at the May Board meeting).

2. The working assumption is that all available cash beyond the agreed working cash float (reviewed annually) will be used to repay members’ share capital.

3. This target range for share repayment will be announced at the AGM along with the interest rate payment and proposed Community Benefit Fund grant.

4. The LCG Board will then notify all members of the share repayment target range and interested parties asked to respond to the LCG Society Secretary by a given deadline, making it clear that this is the annual deadline to apply to withdraw shares. This initial request is to come direct to LCG.

5. Following the deadline, the LCG Board will review all withdrawal requests against the set target range

6. If the aggregated withdrawal requests are less than the maximum target sum available, the LCG Board will:

  • repay the applicant members in full
  • inform all members of the shortfall and the likely impact on future interest rates
  • consider how the excess cash can be most effectively used

7. If the aggregated withdrawal requests are more than the maximum target sum available, the LCG Board will:

  • in the first instance consider the viability of increasing the cash sum available to meet the demand through other sources of finance so that applicant members receive the full amount of their holding
  • decide that a shortfall of cash to meet the demand is unavoidable and repay all the applicant members a percentage of their total holding so that the available cash is apportioned pro rata.

In order to settle the outstanding balance, these applicant members will be given priority in the following years process

  • inform all members of the outcome of this process

8. In addition to this annual withdrawal request process, the LCG Board will give special consideration to requests for repayment in order to settle the estate of a member following their death and in other cases of hardship throughout the year.

  • provided the annual maximum target has not been met, the LCG Board will consider such requests on a first come first served basis. Approval will then be considered on merit and those that are not approved will be given priority in the following year’s process
  • once the maximum repayment target has been met, the LCG Board will inform applicant members that they will be given priority in the following year’s process

9. The LCG Society Secretary will notify:

  • applicant members of the LCG Board decision and provide share withdrawal forms to be returned along with the share certificate directly to the share registry
  • the share registry by way of emailed minutes authorising the share withdrawals with breakdown of the payment details in each case.

10. The share registry will check the share withdrawal forms against the LCG minutes and breakdown and then, once confirmed, will instruct LCG to make the payments. LCG will communicate with the member at this point regarding the bank account into which the payment should be made.

11. The share registry will issue replacement share certificates to the members where appropriate.

12. Members will be paid interest at the next time for interest payments for the period for which they have held shares.

Agreed by the board 21st July 2018

DISCLAIMER: Low Carbon Gordano Limited is not a registered Independent Financial Adviser and the following guidance is given in good faith. Members should seek independent advice if they have any concerns about their tax position.

The full Guidance Note can be downloaded HERE

Because of new rules that started in April 2016, if there is tax due on your interest on LCG shares combined with other shares and interest then HMRC should be in contact with you regarding how the tax is to be paid over (as a payment or through your tax code).

This being the case you do not have to start to do a tax return on account of receiving LCG interest.

(If you do already complete a tax return then the interest from LCG should be recorded as “Untaxed UK interest etc” on your tax return).

You should not need to contact HMRC to alert them that tax is due on interest from LCG; however, if you think that tax may be due and HMRC have not contacted you then consult with a financial adviser or with HMRC direct (Income Tax queries: 0300 2003300).

More information on taxable allowances

The following websites provide additional information about taxable allowances:

https://moneyfacts.co.uk/guides/savings/how-are-my-savings-taxed/

https://www.gov.uk/topic/personal-tax/income-tax

https://www.gov.uk/income-tax-rates

https://www.gov.uk/apply-tax-free-interest-on-savings