News

1 August 2012

Update on share sale

Offer fully subscribed, thank you to all who applied for shares

Westmill Solarr can now confirm that when the offer closed at midnight on Tuesday (31/07) night we had received more than 1,600 applications. We are delighted with the strength of the response – we received over 250 applications in the last two days alone! Much of the enthusiasm has been generated by our future members, so we would like to offer them many thanks again for the support.

It is clear that the offer will be fully subscribed with a very comfortable margin of safety. It will take us a few days to evaluate the final numbers, because some payments are still in the banking system and others have yet to be matched to applications.

Once we have had time to reconcile all the figures, we will let all those who applied for shares know further details the week commencing 6 August. We should also be able to reconfirm at that time how many shares each person has applied for, and also hope to advise which applicants will not have their applications scaled back. We anticipate that it will take until later in August, however, before we are able to provide further information on subscriptions which are to be scaled back.

We are also aiming to be in a position to provide an update about the debt finance at the same time.

Thank you once again for all the support which has made this possible.

 

Philip Wolfe, Chairman, Westmill Solar Cooperative

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