Invest in the Fair Tax Mark
Your chance to invest in our exciting new project
Rob Harrison on becoming an investor member of the Fair Tax Mark.
We have now registered the Fair Tax Mark as an Industrial and Provident Society (IPS) and as such can now offer shares in the business. We decided to structure our new venture as an IPS after the success that the model bought to Ethical Consumer magazine after its restructuring three years ago. The Fair Tax Mark is managed by a board including members of Ethical Consumer alongside Richard Murphy’s Fair Tax Campaign.
In order to further the business, and indeed its campaigning aims, we are now seeking to raise capital through the issue of shares with an interest rate of 5%. The capital raised through this share issue will provide sufficient working capital to the IPS in its start-up phase. Specifically, this will pay for the marketing and promotion of the Mark and the development of additional criteria so that we can assess a broad range of organisations.
This is an exciting opportunity to invest in a genuinely ground-breaking project which has no precedent anywhere in the world. We are looking to use the power of accreditation to encourage responsible behaviour in a completely new area, one which has important consequences for the way our future societies develop. We are asking anyone who shares our vision to become part of it. Our society will be democratically owned and run by you the members and shareholders, for the benefit of the community.
Key elements of the share issue
- The value of ordinary shares is £1.00
- The minimum investment is £200 and the maximum is £20,000.
- By buying shares you become a member of Fair Tax Mark and as such you will have members’ voting rights at general meetings of the society.
- Shares are not transferable but may be withdrawn upon giving three months’ notice to the society. The board may waive this notice period at its discretion. It may also suspend the right to withdraw shares if this is deemed necessary.
- The initial rate of interest has been set at 5%. The Board may vary this rate at any time.
- We are currently investigating the practicality of arranging Enterprise Investment Scheme tax relief for investments in our shares.
Risks of your investment
As a not-for-profit community benefit society, Fair Tax Mark may issue community shares. These do not go up and down in value, but may pay ‘reasonable and proper’ interest. The rate of interest on your shares is variable. The Board agreed on March 11th 2014 that the current rate of interest should be set at 5%.
The Fair Tax Mark, unlike banks and building societies, is not subject to prudential supervision by the Financial Services Authority. The position you occupy as a shareholder of the Fair Tax Mark is no different to that of a shareholder in any other corporate body in the sense that, if the Fair Tax Mark fails, you may not have all, or any, of your investment returned to you. Your liability, however, does not extend beyond your own investment. Your investment is withdrawable without penalty.
For more information or to invest download a share-offer prospectus or call 0161 226 2929 and ask for a printed copy of the share offer document
More about the Fair Tax Mark.