We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Selling shares in a co-operative (unlisted)
Silverbirch
Posts: 10 Forumite
Hi,
A few years ago I bought some shares in a co-operative that was intending to purchase a wind farm, as I support wind energy and wanted to assist them in this venture. It is now up and running and, while I still support this type of venture, I would like to get my investment back. I always thought of it as a temporary "loan" to the co-operative. I informed them of my wish to sell my shares nearly 2 years ago and they say I just have to wait until they get a buyer but there is not much demand for second-hand shares. They said they would add me to the list of people wanting to sell but that some had been waiting a long time. Each year, they apparently mention at the AGM that there are second-hand shares available for purchase. Does anyone know if there is any way I can sell these shares and get my investment back (£250)? I know I was naive about investment at the time (and still am) but I thought it would be possible to get my money back sometime. Is this not the case?
Thanks for any help.
Regards
A few years ago I bought some shares in a co-operative that was intending to purchase a wind farm, as I support wind energy and wanted to assist them in this venture. It is now up and running and, while I still support this type of venture, I would like to get my investment back. I always thought of it as a temporary "loan" to the co-operative. I informed them of my wish to sell my shares nearly 2 years ago and they say I just have to wait until they get a buyer but there is not much demand for second-hand shares. They said they would add me to the list of people wanting to sell but that some had been waiting a long time. Each year, they apparently mention at the AGM that there are second-hand shares available for purchase. Does anyone know if there is any way I can sell these shares and get my investment back (£250)? I know I was naive about investment at the time (and still am) but I thought it would be possible to get my money back sometime. Is this not the case?
Thanks for any help.
Regards
0
Comments
-
What did the paperwork you signed say?
Is there a fixed term when the investment will pay you back? If it is open ended as most shares are then you may just have to wait to see if anyone turns up to buy it.
I'd be very thankful that you only invested a very small amount in it. Do you get any income from the investment?Remember the saying: if it looks too good to be true it almost certainly is.0 -
Hi, thanks for your reply. Yes, I am indeed thankful I didn't invest more! I'm pretty sure it's open-ended. I do get a minimal amount of income - i.e. a few pounds once a year or so! Well, I've learned from my experience anyway. Regards.0
-
Do you now any friends, relatives, or colleagues who may be interested?
A few pounds a year is more than you'd get on, say, £100 in a savings account (although, as you've found out, it's quite a different sort of investment)We need the earth for food, water, and shelter.
The earth needs us for nothing.
The earth does not belong to us.
We belong to the Earth0 -
Thanks for your suggestion! Yes, I've learned from experience!0
-
how many pounds/year?
and where abouts is the windfarm?0 -
Hi Planteria, sorry I've only just seen your reply (I thought I would get advised automatically by email when someone replied!).
Not sure exactly how many pounds a year, it varies. Not a huge amount and not in double figures! The wind farm is in the Fenlands area, Cambridgeshire.0 -
Silverbirch wrote: »Hi Planteria, sorry I've only just seen your reply (I thought I would get advised automatically by email when someone replied!).
Not sure exactly how many pounds a year, it varies. Not a huge amount and not in double figures! The wind farm is in the Fenlands area, Cambridgeshire.
You seem to be conflating investments with ethical or charitable donations.
This doesn't ever appear to have been a reasonable investment and given it's only £250 then it's not hugely damaging. However assuming your getting back no more than 1-2% a year then it's not going to be attractive to other investors, particularly as you're finding the shares are illiquid.
From a professional perspective having worked in the industry then I've never understood the rush toget into hese schemes as green deals, they are relatively inefficient, are massively subsidised and are still controversial from a noise, visual and sometimes ecological angle, as well as being unreliable to the point of needing equivalent conventional carbon generating power requiring to be available as a back up.0
This discussion has been closed.
Categories
- All Categories
- 346.6K Banking & Borrowing
- 251.3K Reduce Debt & Boost Income
- 451.4K Spending & Discounts
- 238.8K Work, Benefits & Business
- 614.2K Mortgages, Homes & Bills
- 174.7K Life & Family
- 252K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards