SECOND CHANCE AT NORTH UIST COMMUNITY SHARE OFFER

​Uist Wind is delighted to announce it is responding to community requests to open a short window of opportunity for people to become Members if they missed the original Community Share Offer in 2018. 

If there is sufficient local interest this summer, Uist Wind will be able to respond to some existing requests from members, who are looking to withdraw some or all of their original share capital due to changed circumstances.   The new Share Offer will therefore be administered in parallel with an opportunity for existing UistWind Members to apply for some or all of their equity to be withdrawn. 

“Earlier this year the UistWind turbines received new names as selected by the students at Sgoil Uibhist a Tuath - Fionn Fuamhaire and Flòraidh Fuamhaire.  We are happy to now be able to provide  a second chance for people in the community to become Members of UistWind to support Fionn and Flòraidh into the future” explained Andrew Ross, Chair of the UistWind Management Committee.  

​The opportunity will open on the 1st of June and end on the 31st of August.  People can register their interest by submitting a form online or via the post.  

The terms and conditions of the purchase of the short Share Offer will be the same as the original 2018 share offer and viewed as a long term investment.  The original community share offer document and further details on this summer’s opportunity can be found on the UistWind website www.uistwind.com.  Shares are valued at £1 per share with a minimum number of shares of 250.   

The Management Committee will carry out a fair and equitable review of expressions of interest from both existing Members and new interested parties, supported by Community Shares Scotland.  The Management Committee will then ‘match’ new interest with withdrawal interest from existing Members.  A formal application form will then be provided to those selected to become a new Member, alongside a request for payment.

UistWind’s aims and objectives to generate income for community benefit are on track and UistWind is currently working with financial advisers QMPF on a new financial model to support financial projections and decision making.  

“This is a really interesting time to join UistWind after almost 5 years of being operational, as we plan the next phase of the project to shape the community benefit fund.

“We are particularly keen for local younger people to join UistWind, and are open to consortia applications where a number of local residents may wish to come together to share the minimum number of shares, with one vote for each consortia.  We are also keen for expressions of interest from local residents who would be interested in volunteer and Committee roles”.