News

05 Feb 2018

We introduce our share buy-back policy

We’ve introduced a Share Buy-Back Policy with the intention of underpinning the share trading liquidity of the secondary market of Thrive shares and to demonstrate the Directors' confidence in the Directors' Recommended Share Price.
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Article written by alex.lomax

Thrive has invested over £12 million into clean energy projects in 2017 including its ‘community bridge funding’ to Mean Moor wind farm. With Thrive’s support, it’s the first UK wind farm to transfer from commercial to community ownership. We’ve now invested in 21 UK projects and are generating enough clean energy to power the equivalent of 40,000 UK homes providing a financial, social and environmental returns for our investors.

With over 5,500 shareholders, and more than 1,000 bondholders, we’re building our investor community. We do this in two ways, through a bond or share offers when we’re looking to raise large sums for specific projects. This happens roughly every two years with the last bond offer completing in February 2017. The money raised has been put to work, generating returns and connecting more individuals to clean energy.

The other way to get involved and join Thrive’s community of investors is to purchase shares at our monthly share auctions run by our dedicated broker, James Sharp & Co. The monthly auctions allow existing shareholders to grow their stake in Thrive and for new investors to join us and contribute to cleaning up the UK’s energy system.

About the share buy-back policy

  • Shareholders are eligible to benefit from the Buy-Back policy if they have owned their shares for at least 24 months, and had their shares listed for sale on the Matched Bargain Market for a period of 12 months or more.*
  • Under the Buy-Back policy, the Company undertakes to purchase shares from eligible shareholders at a 10% discount to the Director’s Recommended Share Price.
  • It is the Directors’ intention that the Buy-Back Policy will increase the liquidity of the secondary shares market and enable sellers to achieve a fair price for their shares.

Next steps

  • The initial share Buy-Back is subject to shareholder approval at the AGM on 22nd June 2018 and the Company having adequate financial resources to fund the share Buy-Back. 
  • Eligible shareholders will be contacted by Thrive in April and invited to confirm their interest in participating in the Buy-Back.
  • The Directors reserve the right to cease offering the Buy-Back at any time.

Read and download the Buy-Back Policy.