This afternoon (26/3/2025) a request for a general meeting of Ripple Coop 4 was sent to the Board of Directors using the 188 votes that have been collected from coop members on the petition website (https://docs.google.com/forms/d/e/1FAIpQLSf20YAeC0Un9KlAokJtZA4ACwPQLxp8wELK1skUuiMxICNj8Q/viewform).
Under the rules (Reference 1) of the coop (20.2), if the board of directors receive a request signed by 100 members, then they shall convene a general meeting. The request was sent by registered post and by email to the registered office of the Coop in Ayr, Scotland and to the London office of Ripple Energy/ Begbies Traynor (the Administrators of Ripple Energy). The board is required under the Coop society rules (20.3) to convene a general meeting within 1 month of receiving the request. The board is responsible for notifying each member of the general meeting via email/post via the managing person/company. (See note 1)
The request included a number of proposed resolutions and a stated purpose of the meeting is to vote on those proposals. The proposed resolutions were drafted yesterday (25/3/2025) by the steering committee. They are listed below. The steering committee was formed from volunteers on the general forum. We will publish an update that the request has been received by the board. This is expected to be tomorrow.
In the meantime, if you have not signed the petition please do so. (https://docs.google.com/forms/d/e/1FAIpQLSf20YAeC0Un9KlAokJtZA4ACwPQLxp8wELK1skUuiMxICNj8Q/viewform). You must be a member.
When there is a general meeting, it is important that you attend and vote on the proposed resolutions. You will be able to vote for or against the proposals. The coop is a democracy and each member has one vote. The general meeting will need to reach have a quorum. This is defined as 1% of the members. We do not know how many members there are, but the more that attend the better!
Note 1: We believe that the managing person/company was Ripple Energy, but is now the responsibility of the Administrators of Ripple Energy – Begbies Traynor. We do not know because we are not Board members and do not have access to all of the Coop’s documents.
PROPOSED RESOLUTIONS:
The purpose of the meeting is to vote on the following ordinary resolutions:
Resolution 1. The board will request the managing person to provide a set of audited accounts or the latest management accounts if audited accounts are not available covering the period from 1 June 2024 to present day including identification of the bank accounts holding the society’s share capital funds within 10 business days of this meeting to the society’s members.
Resolution 2. The board will provide an opinion at the meeting that the conditions under section 14 Insufficient Capital of the customer agreement have been met. Specifically that “Society fails to raise sufficient funds to purchase and/or develop the Project by the Cut-Off Date”. If it is unable, it must explain why. Note: Whitelaw Brae was identified as the windfarm that the share capital would be used to purchase (Share Offer page 2.)
We believe that the purchase of Whitelaw Brae Farm Ltd by Thrive announced on 19th December and the subsequent absence of an agreement with Thrive for partial ownership of Whitelaw Brae indicates that the society has failed to raise the funds to purchase and/or develop the project.
Therefore, per the customer agreement section 14.1 c, each member is entitled to a full refund of the ‘joining fee’ as defined in the Customer Agreement or such sum paid pursuant to clause 9.4. Per 14.1c, the managing person will manage the refunds within 20 business days of this termination.
Resolution 3. Due to the resignation of Robert Sauven as the Society’s chair and possible vacation of director, the society will hold an election for a director per 42.1d of the rules of the society.
Resolution 4: The members of the society shall elect an additional 2 directors increasing the number of directors to 5 per 30.1 of the rules of the society.
REFERENCED DOCUMENTS:
- Rules of the Coop: https://mutuals.fca.org.uk/Documents/Download/935889
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