Risk factors
The Directors consider that this project is more risk-free than many forms of investment because it creates what is expected to be a secure income stream over 25 years and the calculation of the investment needed includes the costs of administering the project and maintaining the installation. Any cost arising from damage to the solar roof structure itself, apart from Acts of God, the result of terrorist activity or any other standard exclusions, * will be fully covered by insurance and our contract with Southern Solar.
Nevertheless, the Directors have identified the following risks.
• The price of electricity can go down as well as up.
• Changes in legislation, especially to the value of the FIT, would affect the project.
• The amount of electricity produced may vary because of unusual weather patterns.
• The project may be delayed for technical, financial or legal reasons.
• There may be interruptions to electricity generation because of financial or legal matters.
• There may be damage to the site that interrupts generation of electricity.
• The capital costs are based on calculations carried out before this share issue. Any subsequent increase in capital costs will have to be met by monies raised in this share offer and any other sources of funding (gifts, grants and loans).
• Legislative changes to the roles and functions of the Financial Services Authority or to those of other regulatory bodies may change the way in which Ovesco Limited is regulated.
This list is not necessarily comprehensive.
The most serious and immediate threat is the Government’s recent announcement in the Budget of the intention to reduce very substantially the rate at which the Feed-in Tariff will be paid for solar installations with capacity of more than 50kW which are not installed and registered before 1st August this year. We intend to meet this deadline. If factors beyond our control make that impossible, we will seek agreement with Harveys to cap the capacity of the Harveys Brewery roof array to just below 50kW, and bring forward a partner working arrangement with Lewes Football Club for an array of a similar size. The Club and Ovesco are already in positive talks about this array. We will keep investors up to date on these plans.
Offer documents such as this one have to point out that all forms of investment are risky in one way or another. Our share offer is exempt from the Financial Services and Markets Act 2000 or subsidiary regulations, which means that you have no right of complaint to an ombudsman. A community benefit society is registered with but not authorised by the Financial Services Authority and so any money you pay for your shares is not safeguarded by any depositor protection scheme or dispute resolution scheme. Please consider your investment carefully in the context of the complete share offer document, and seek independent advice if you are not sure about anything.
'It's the new Lewes currency madam'
Read about the share offer, click here to download the PDF 
Click here to download the application form
* Apply to Ovesco for information on the insurance policy.