Because B4RN is non-profit we aren’t interested in commercial speculation, so we only extend our network into communities where we’re wanted. Each new area that invites B4RN in needs to raise a certain level of investment to cover the work and materials required for their area’s installation. Currently, a significant amount of that cost is being met with government voucher funding.
Shares
Every community’s core investment is made up of shares, the value of which can be ring-fenced for supporting the build-out in their area.
- Minimum shareholding £100 / maximum £100,000.
- All shareholders are members of B4RN. One member one vote.
- Shares must be held for a minimum of 3 years.
- Investment in shares attract the current rate of 5% which can paid out or reinvested year on year.
- Some shareholders choose to invest £1,500 and claim a free connection worth £60. (Remember: The £1,500 must be invested in a single transaction and before the connection goes live to qualify for a free connection. Full rules here.)
- Shares can only ever be sold back to B4RN at £1 each.
Find Out More
For a more comprehensive outline of investing in B4RN, take a look at our Share Prospectus by clicking here.
For full details of what it means to become a member of the B4RN Community Benefit Society you can read the society’s rules handbook by clicking here.
B4RN is registered under the FCA Mutuals Public Register, Company Registration Number 31352R (Our publicly filed Accounts and Annual Returns can be found here).
Apply
Should you wish to invest in B4RN shares now:
1. Download the Share Form here or email shareregistrar@b4rn.org.uk for a copy
2. Print and fill out the form – you can ask for your investment to be linked to your local Project
3. Post your signed form to:
B4RN, Station Yard, Melling, Carnforth, LA6 2QY
or email your signed form to:
shareregistrar@b4rn.org.uk
Should you wish to Pledge to invest when your Project goes ahead:
1. Download the Pledge Form for individual & joint applications or for organisations & businesses or email pledge@b4rn.org.uk for a copy
2. Print and fill out the form – please ensure you include your local Project for your investment Pledge
3. Post your signed form to:
B4RN, Station Yard, Melling, Carnforth, LA6 2QY
or email your signed form to:
pledge@b4rn.org.uk
If pledging, please do not send any funds at this stage
FAQs
I would like to buy shares in B4RN, and have filled in the form, but need a BACS reference number to pay. How do I get my BACS
reference number?
Payment can be made by bacs transfer to:
Bank: The Cooperative Bank
Sort Code: 08-92-99
Account: 65520211
Name of Account: BROADBAND FOR THE RURAL NORTH LIMITED
Reference: Please use your POST CODE and SURNAME as reference. Without this we will not know who the payment has come from.
Example: John Fredrickson. 29 Hope Street, Kendal LA9 2SX
Bacs ref no: LA9 2SX FREDRICKSON
When does the ‘three years’ before I can withdraw my shares start and end?
The start and end dates are fixed by the date when the shares are ‘issued’ by B4RN, which is the date on your Share Certificate.
When does the 'interest year' referred to run from and to?
Interest is paid on the 31st March each year.
Can an investor take the interest each year as cash instead of shares, leaving the initial investment intact?
Yes – in effect. In practice – all end of year interest is paid in shares, and all investors have a 2-month window in which they can withdraw this interest as cash. An email is sent out with the interest statement to this effect. Once that two-month window closes the ‘interest’ shares revert to ‘normal’ shares and are treated as such.
Tell me more about where my investment will be spent?
Please note that your investment is intended for the B4RN community and does not guarantee the development of a specific project. Although B4RN will use its best endeavours to allocate your shares according to your preference, it reserves the right to direct your investment to develop the wider network.
Your shares are held in B4RN, and not formally linked to any project. However, we will do our best to direct your investment towards a project (if you choose to name one). When there is enough money for that project, the money will go towards other projects.
What does it mean when the Share Prospectus speak of 'first priority'?
From Year 4 onwards investors may apply to withdraw their investment. B4RN puts aside an amount each year to fund these withdrawals, however the amount available will be subject to the Society’s trading position and will be at the discretion of the Directors, so there is no guarantee that there will be sufficient funds put aside in a particular year to meet all demands for withdrawal. First priority will be given to those investors wishing to withdraw the interest payments they have received in the year. These will always be paid if requested. Any remaining requests will be handled on a first come, first served basis until the withdrawals fund is exhausted.
We have a provision in the rules that we set aside a pot of money each year to be available if shareholders wish to withdraw their shares once their 3 years is up. At present this is set at 5% of the capital, and we have roughly 2% of shares being withdrawn within a year. If there were ever to be lots of requests for withdrawal, then we would pay requests for end of year interest on the capital first, and then first-come first-served until the 5% limit is reached.
What does this statement mean? A free connection cannot retrospectively be assigned to a property after it has gone live?
If a shareholder buys 1500 shares in a block then they become eligible for a free connection (normally £60) for their house, or they can nominate someone else’s house – however, this must be applied for before the property gets a live connection. For example, they can’t be connected for a month, then buy the shares and retrospectively ask for the cost of their connection to be refunded.
Is the interest paid gross or do you take tax before you pay it?
The interest is paid gross. You will receive an interest statement at the end of the year and it is your responsibility to pay tax on it if required. At present we pay interest at 5% so on an investment of £1500 the shareholder will receive £75 gross interest per year.
We do not give out financial advice – please contact your financial advisor if you need more details about the payment of tax.
Enterprise Investment Scheme
In January 2019, HMRC ruled Community Benefit Societies – like B4RN – were no longer eligible for the Enterprise Investment Scheme. Details can be found here.