Yes you can. If you buy for someone aged over 16, they hold the shares themselves and become a member of Reading Hydro. You may want to buy for younger children or grandchildren, since Reading Hydro is a long term investment with a return that will span the generations. In this case, you hold the shares until the child reaches the age of 16.
In short, no. Our business case is based on expert advice, historical river data and cautious assumptions on future costs and prices. From this, we’ve estimated the annual return to shareholders, the rate at which we will repay your capital, and the amount available for community benefit. But these cannot be guaranteed because, as with any project, there are risks. We’ve outlined the risks in the share offer document, and you should read these before you invest.
Individuals aged over 16, companies and organisation may apply for shares. Parents and grandparents may hold shares in their own name for younger children, until the reach the age of 16. Anyone may apply for shares. However, one aim is to benefit the local community so if the share offer becomes oversubscribed, we will give priority to applications from Reading residents living in Reading Borough Council or postcode areas RG1-6 and RG30-31, and to those who have pre-registered their interest.
We would like to say a huge thank you to Reading Farmers Market who so kindly let us come to their events. We were able to speak to lots you from the local Reading community and tell you all about our exciting hydro power scheme.
We plan to be there again on the 1st February, Come an see us there!
The Cattle Market, Great Knollys Street, RG1 7HD, from 8.30am – noon