Ethex Information
Who are Ethex?
Ethex is a not-for-profit organisation based in Oxford, that creates a platform for positive investment in social transformation. Find out more about the Ethex story here. Ethex connect projects like Homes for Hooky with their network of investors by promoting the community share offer on a project profile - http://www.ethex.org.uk/invest/hooknortonclt
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Take a look at some Ethex success stories here, and their Trustpilot rating here.
What are community shares?
Community Shares are a way for local communities - and other supporters, to invest in the community for the long term, achieving social as well as financial goals. Investors in community Shares become members of a community enterprise with a democratic say in its social aims and future success.
Community Shares can’t be ‘traded’ : you can’t sell your shareholding on to someone else.
The value of Community Shares can’t increase, but can go down.
Community Shares are withdrawable, but at no more than their original value. Shares can’t be withdrawn on the HNCLT offer before May 2029.
More details about our Community Share Offer can be found on our Share Offer Information page.
Who can invest?
Anyone over the age of 18 years can invest. Investors from outside of the EEA can invest, but will be required to complete additional checks as part of the registration process, and if you are a resident or citizen of either Canada or the United States of America, you can’t invest via the Ethex website.
Can I invest on behalf of my children or grandchildren?
Yes, this is a great way of introducing them to ethical investing at an early age. Investments can be held on behalf of children until they turn 18.
Can organisations, businesses and groups invest?
Yes. Incorporated organisations will hold shares in their name, but may nominate an individual to act as their representative, who will receive society notices and invitations to meetings. Investment by unincorporated groups will be registered in the name of their nominee or nominees.
Where is my money held during the share offer?
All monies invested through the Ethex platform will be held by Ethex’s platform provider, ShareIn, in a separate account. Once we reach our minimum target of £300,000 ShareIn will pass money on to HNCLT. If the minimum target isn’t reached by the share offer closing date – 26 May – HNCLT plans to extend the share offer for a further period to 20 July 2024. If the offer doesn’t reach its minimum target figure by this extended date, payments will be refunded.
Once we reach our maximum target of £500,000, the share offer will be closed, and no further investment will be accepted.
What will Ethex do with my personal details and data?
Any information provided to Ethex in the course of registering to use their site will be retained by Ethex who will act as Data Controller until such time as you cancel your account with their site. Their policy can be found here: www.ethex.org.uk/legal/privacy. Ethex may also require additional documents to be provided as part of their anti-money laundering processes.
How do I invest?
In order to invest in our share offer, you will first need to create an Ethex account. Please use this link to their guide to registering an Ethex account. There are two very helpful videos to guide you through the process.
If you are unsure about anything during the registration process, please have a look at the Ethex help page, or email us at hello@hooknortonclt.org.uk
Once you submit your details, Ethex will complete an identity check, and email you to let you know when that has been completed. This usually only takes a couple of minutes, but may take longer if they require additional information.
Once the registration process has been completed there is a 24 hour ‘cooling period’ before you can go on to provide your investment instructions to Ethex.
24 hours after registration, you can log into your account, locate the Homes for Hooky project and make your investment. Please note that you will be asked to download our Share Offer Document from our profile page on the Ethex website before you can make your investment.
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Any money you invest in Community Shares is at risk as there is no recourse to the Financial Services Compensation Scheme or the Financial Ombudsman Services. Please don't invest any money that you can't afford to lose.