PEC Homes

PEC Renewables is a Community Benefit Society, set up in 2014 by Plymouth Energy Community to fund, install and manage community-owned renewable energy installations.

PEC Renewables' eighth AGM was an online meeting, where only the formal business was held.

Dave Garland (Chair) opened the meeting and conducted the formal proceedings. The Directors' report and audited Financial Statements for the year ended 30th June 2021 were received and adopted. The auditors, Bromhead Chartered Accountants, were re-appointed as the auditors of the company for the year to 30th June 2022, and the Board were authorised to set their remuneration.

As per the rules of PEC Renewables, one third of Directors must stand down. As the longest serving Director, Dave Garland stood down. Lee Richards was elected to the Board from the membership.

Both resolutions, proposed by the Directors regarding interest payments, were passed:

  • To approve the payment of interest on members share capital at a rate of 4% of the investment value for shareholdings allocated in 2014 and 2015 (Share Offers 1 and 2) - 156 votes for, 4 against.
  • To approve the payment of interest on members share capital at a rate of 5% of the investment value for shareholdings allocated in August 2016 and January 2017 (Share Offer 3) – 154 votes for, 6 against.

There were a number of questions relating to the decision around interest payments, you can read these in details in the minutes below.

Alistair Macpherson (CEO) and Chris Penberthy (Director) gave thanks and paid respect to Dave Garland, standing down as Director and Chair after 8 years! He will be very missed.

Thank you to everyone who was able to attend our virtual AGM on Tuesday. If you missed it, you can access the recording of the meeting here.