Notification to Solar One Shareholders sent out
The Board of Harborough Solar One has met and resolved the following:
- To return investments in full immediately to those investors that have already requested an unconditional return.
- To advise all investors of the current position including implications for EIS relief and offer them the opportunity to withdraw their investment.
- We are currently working hard to find a project which will satisfy the aims of the original project – namely a Return to Investors, a Local renewable installation, eligibility for EIS tax relief and the generation of a community fund. Whilst we have a number of opportunities under consideration we are not yet in a position to give specifics.
Once we have identified a suitable project we will be in touch with a new prospectus to seek your approval to continue. We shall be seeking to find an opportunity that is eligible for EIS relief.
Whilst the management of Harborough Solar One will seek to ensure that any new project is run in compliance with EIS rules, we cannot guarantee that your investment will be eligible for relief.
If we are unsuccessful in securing an alternative project you will be paid your investment back in full. We will be back in touch regularly to give you an update along with timescales, but if you wish to withdraw your shares at this point please let us know. Please also be advised that if you are happy for us to hold your investment whilst we finalise our new opportunity, you may nevertheless request the return of your investment at any time prior to the issue of a new share offer.
All investors should be assured that this situation will not continue unresolved for long, if it is apparent that a timely and viable project is not achievable in the short term we will return all investments, the board are meeting next week (week commencing Monday January 11th) to look at opportunities.
Once again we thank you wholeheartedly for putting your faith in our project by investing in the first place, and we hope that you understand our decision to continue to work towards our first local project, to reiterate you will be consulted about any new project. We wish you all a Happy New Year.
Sent on behalf of the Directors and Volunteers at Harborough Energy and the Officers at Sustainable Harborough