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Investment

Investing in Ynni Anafon Energy Cyf.

Our share offer was launched by the naturalist and broadcaster, Iolo Williams, at a festival in Abergwyngregyn, the Aber Dabba Doo, on 13 September 2014 which attracted approximately 1,000 visitors to the village.

The opening share offer raised over £325,000 before the closing date of 30 November 2014. The significance of this date was that we had set ourselves a target of £300,000 to be raised by then before we could commit to building the Anafon Hydro. As you see, we surpassed this target and proceeded with the project.

The total raised from the sale of shares was £450,900. We thank our shareholders for investing in the Anafon Hydro. Every additional pound raised from shares reduced the amount we had to borrow from the bank in the form of an expensive loan.

All investment attracted substantial tax relief of either 50% or 30% of the amount invested through HMRC’s Seed Enterprise Investment Scheme (SEIS) or Enterprise Investment Scheme (EIS) and the company will be paying interest, initially of 5%, from Year 3 of generation.

As long as you are eligible as a UK Tax payer, the SEIS and EIS will have had a significant impact on your overall financial return as an investor as the figures below, which factor in tax relief on your overall return, illustrate:

Projected return over 10 years
  • without tax relief: 4-5% p a
  • with SEIS: 8-9% p a
  • with EIS: 6-7% p a

If you, as a shareholder, have not already applied for your tax relief under the SEIS or EIS, you should do so with the appropriate forms you will have received from Sharenergy who administer our share scheme.

You can make your claim now or for up to five years after the 31 January following the tax year in which the investment was made. The actual amount of tax relief you can claim will depend on your personal tax circumstances.

Remember, applications for tax relief are made to HMRC by you, the investor, not by Ynni Anafon Energy. Details of the schemes can be found at:

Link to the HMRC SEIS and EIS site www.hmrc.gov.uk/seedeis/

The benefits of your investment in Ynni Anafon Energy?

As a shareholder in Ynni Anafon Energy Cyf., you are playing an active part in the first large-scale community-owned hydroelectric generating plant in North Wales. With your help, we have been able to harness the waters of the Afon Anafon to generate renewable electricity, to support local communities and community projects and to provide you, our investors, with a financial return on your investment. You are helping to promote community renewable energy which has the potential to reduce significantly our reliance on fossil fuels and nuclear generation.

We hope you feel proud to be part of this pioneering community enterprise, of your support for renewable energy and of your contribution to a greener and more sustainable future.

Terms and Conditions

Shares in Ynni Anafon Energy Cyf. have a fixed value of £50. The value of each share will remain unchanged at £50 and, unlike the ‘ordinary shares’ typical of a limited company, they cannot be sold, traded or transferred between Members or the wider public. They can only be sold back to Ynni Anafon Energy Cyf.subject to the agreement of the Directors

Shareholders will receive an annual payment of interest on the value of their shares starting in the third year after the hydro is commissioned. The level of interest is recommended by the Board of Directors and agreed with the Members of Ynni Anafon Energy Cyf. at their Annual General Meeting; it is anticipated that the interest rate will be 4-5% initially. Interest on the shares is paid gross so it is the investor’s responsibility to declare these earnings to HMRC.

All shareholders will become Members of YAE with an entitlement to vote at the AGM. However, shareholders will have only a single vote irrespective of the number of shares they hold.

Two classes of shares have been issued: A-Shares which were reserved for investors from the local community and B-Shares issued to the wider public in Wales and beyond. The Rules of the Society state that there will be up to 9 Directors, up to 4 be elected by A-Shareholders, up to 3 by B-Share holders and 2 nominated by the Abergwyngregyn Regeneration Company.






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