A little update on our first round offer document: it is now with the lawyers for their final review and we look forward to hearing back from them soon.
Meanwhile, we’ve received a couple of questions that we’d like to answer for everyone. If you’d like to see any of the Q&A that we’ve had in the past, including from our investor briefing evening, then please go to:
http://67.227.186.28/~solarshare/faq/
for general questions about SolarShare, and
http://67.227.186.28/~solarshare/solar-farm-project/greenfield-project/
for questions specifically relating to the flagship project.
Common Q&A on the investment process:
How does my investment relate to future projects that SolarShare may develop?
SolarShare is designed to operate as a portfolio of many solar projects; our flagship project is the chief project we are raising money for but we intend it to be the first of many. As we develop additional projects we plan to add them to the portfolio of local solar projects in which all investors will share. Although investors’ funds may be initially used in the construction of a particular project, as the portfolio grows, all members’ share ownership will include ownership of a share of the entire portfolio of projects. This portfolio approach offers diversification, and consequently a lower risk profile than investment tied to an individual project.
The ACT Community Solar flagship project at Majura may have individual requirements on its ownership structure (e.g., a certain proportion of local ACT ownership) to satisfy ACT Government eligibility requirements. These requirements are not clearly defined at this time, which means the SolarShare Board will review and manage these requirements as and when the ACT Government defines them. To this end we are keeping the flexibility to hold the flagship project separate from the wider SolarShare pool if we are required.
How will we choose which people are included in the limited initial offer?
As we’ve covered before, we will be offering shares in SolarShare in two rounds, the first round will be limited to twenty (20) investors due to various provisions in corporations law. If there are beyond 20 subscribers we will:
- Prioritise ACT based applicants,
- Prioritise the investors based on the date they originally registered their investment interest on SolarShare’s website,
- Allocate shares to the first twenty subscribers fulfilling the above criteria whose investment totals the capital sought for this investment round and
- Where this results in oversubscription, we will allocate shares on a pro rata basis, rounding subscriptions to the nearest convenient parcel of shares.
Until then, enjoy the beautiful sunshine as spring comes to Canberra.
From the SolarShare team
