ICO Fund plc - An Issue for Co-operation

ICO Fund plc logo
An issue for Co-operation
Supporting the sector through positive, ethical investment

Co-operative & Community Finance has announced the launch of its latest share issue for ICO Fund plc. The lender for social purpose aims to raise more money from the co-operative movement and social enterprise sector to support worker co-operatives and employee buyouts.

From £1 million raised from previous share issues, ICO Fund plc has lent over £3.3 million to 150 enterprises - trebling its positive impact for co-operatives, their members, and their local communities.

Over 1,500 jobs in the co-operative sector have been created, supported and sustained in all regions across the UK as a direct result of positive, ethical investment in ICO Fund plc.

Individuals from co-operative organisations across the UK are being asked to invest money in their sector. This approach to ethical investment enables the finance to be lent, repaid and lent again ensuring that it benefits as many co-operatives as possible.

“Investments made in ICO Fund plc play a vital role in the growth of the co-operative sector in every region. The sympathetic finance it provides is used again and again to help people own and control the businesses in which they work, convert environmental concern into action, and ultimately boost local economies.” says Jon McColl, chair of ICO Fund plc.

“We hope that this share issue will encourage further investment from within the co-operative movement to support the strengthening of the sector and help build a brighter and sustainable co-operative future.”

10 year redeemable preference shares will be on offer from 10th September 2007. A Share Offer prospectus is now available and can be downloaded using the link below, however if you wish to invest please contact our Bristol office for an original copy.

Click here to download a read-only copy of the Share Offer prospectus

For further information contact Co-operative & Community Finance’s Bristol office on 0117 916 6750 or email info@co-opandcommunityfinance.coop

C&CF logo

Authorised and regulated by the FSA in the conduct of Investment Management

Enterprises supported by ICO Fund plc include:

DLT Training Ltd, established in 1992, delivers industrial training in freight logistics and materials handling, and construction plant training to thousands of people every year. In 2006 the Bridgend-based company faced closure due to the retirement of its then owners but, with financial support from ICO Fund plc, the 16+ workers were able to preserve their jobs and the company via an employee-buyout.

GreenCity Wholefoods is a workers’ co-operative based in Glasgow. It supplies retailers and restaurants throughout Scotland with over 4,000 different vegetarian and GM-free products which include organic and fair trade ranges. The co-op began trading in 1978 with just four members, but with financial support from ICO Fund plc, it has since impressively expanded to over 25 members and a turnover of nearly £5 million.

Soft Touch Arts - a not-for-profit arts co-operative in Leicester that works with groups of marginalised or misrepresented people. ICO Fund plc recently helped the co-op to refurbish its premises enabling it to offer a much wider range of services.

CASA (Care and Share Associates) - an umbrella organisation launched by the award-winning Sunderland Home Care Associates - an employee-owned company. With financial assistance from ICO Fund plc, the organisation is now replicating the business model of Sunderland Home Care Associates across the UK.

Brixton Cycles - an enterprise based in London continuing to promote sustainable transport. The workers’ co-op was established in the 80s to repair and sell bicycles. It now also stocks skateboards and with finance from the ICO Fund plc it has secured premises in a prime location next to Brixton’s famous skate park.

Ecosulis - a business in Bath that delivers specialist consultancy and contracting services in ecological and environmental assessments, protected species work, arboriculture and biodiversity management. Its future became uncertain when its owners decided to retire, but with finance from ICO Fund plc the business has now been purchased by 20 members of its staff and become 100% employee-owned.

Unicorn Grocery - a co-operative supported by ICO Fund plc that offers a wide range of fresh and wholesome food in South Manchester. It has over 50 members and with a turnover of over £3.5million, it has become one of the largest and most successful wholefood outlets in the UK. The co-operative only sells local, organic, fairly-traded and wholesome goods.