NICE Share Offer Update

NICE Share Offer Update

We are very pleased to announce that we have raised £127,450 to date – 85% of our target! We thank you all for your contributions. The Board discussed the advantages of extending the share offer and agreed that a few more weeks can help us to reach our target of 150k and fulfil our plan to complete solar installations on 9 community buildings. To date 6 community groups have signed up with NICE and we have received in excess of 30 expressions of interest from other local community groups and social enterprises.   The following are those in this final stage agreement process for solar installation:- the Chinese Welfare Association, Rath Mor Creggan Enterprise Centre in Derry, Ashton Development Centre, YMCA Londonderry in addition to Mediation NI and Whitehead Community Association. The new share offer closing date is on the Tuesday, the 23rd June or the day that we reach the target amount. If you want to help us to spread the news, please do feel free to do so. As members you share ownership of NICE so please do not hesitate to contact us with any comments and ideas and we are happy to meet with any individual or group to talk about NICE and its project. In the coming weeks there are a number of local community events NICE plan to attend to share and talk about what we are doing.  Details of when and where we will be shall be posted on our social media pages and news page of the website.  Please feel free to join us at any of these events so we can put more faces to...
NICE SHARE OFFER EXTENDED

NICE SHARE OFFER EXTENDED

  NI Community Energy (NICE) as at 24th March has raised £78,700 in the 20 days since first launching the share offer! The Board convey their thanks to the local community and those further afield in Europe who have invested in NICE – the first solar community owned co-operative in Northern Ireland. The Board are delighted with the response received so far. However, we are not yet there. NICE still aims to install as many PV solar panels as our target share capital amount will allow so the Board has unanimously decided to extend the share offer deadline to 30th April 2015. More time gives the Board a further opportunity to promote the share offer – since we sensed a growth of interest in NICE, and more time means more opportunities to democratise our project. Extending the deadline also makes good business sense. If NICE raises its £150k capital via shares it will mean less reliance on borrowing from financial institutions that will, of course, result in better returns to the Community Fund and the shareholders, too! The Board also considered the recent Budget 2015 announcement (https://www.gov.uk/government/topical-events/budget-2015) in which the Seed Enterprise Investment Scheme was providentially extended for at least a further 6 months for qualifying organisations. As you know, NICE is seeking advanced approval for SEIS from HMRC and if granted, this means eligible shareholders can claim tax relief of 50% of the value of their shares. As a result of the Budget extension, this relief will also apply for shares subscribed for and issued after the 5th April 2015. For the avoidance of doubt, please note that...