Issue of cooperative shares by BRS Microfinance Coop

Issue of cooperative shares by BRS Microfinance Coop

Make a difference with a BRS Microfinance Coop share

With your share, BRS Microfinance Coop invests in microfinance organisations in developing countries. They provide microloans to aspiring entrepreneurs who use these to set up economic activities, thereby giving the people the chance to build a better future for themselves and their families.
KBC and Cera are proud partners of this initiative. Your share is a socially responsible investment which provides tax relief as well as a potential dividend.

What amount can I subscribe for?

You can buy one or more 'A' shares with a nominal value of 500 euros per share, subject to a limit of ten shares (i.e. 5 000 euros).

Members with 'A' shares are always private individuals. An 'A' share has a nominal value of 500 euros. No member may hold more than ten 'A' shares. 

The subscription period is from 11 June 2019 through 25 May 2020, subject to early closure. The total equivalent value of the issue will be limited to less than 5 000 000 euros. Once the issue has closed, BRS Microfinance Coop will announce the results of the offering on its website.
KBC, KBC Brussels and CBC serve as paying agent and, within this function, also offer the 'A' shares online. When subscribing online, the would-be subscriber expressly requests that the BRS Microfinance Coop 'A'-share subscription be carried out immediately and in full so that it cannot be revoked. The would-be subscriber also consents to precontractual or contractual information being provided via a durable medium other than paper.

Charges

You pay no entry or exit charges.

Return on 'A' shares

The financial return on your investment in 'A' shares consists exclusively of dividends on these shares.

BRS Microfinance Coop seeks to attain a financial return, but also, and especially, an important return for society. That may have a constraining effect on the financial return. The dividend may vary from year to year. The statutory manager can also propose that no dividend be paid. 

BRS Microfinance Coop deducts 30% withholding tax on your dividend. You can recover this withholding tax up to an amount of 640 euros (1) in dividends per taxpayer per year via your personal income tax return.

5% tax relief on your investment

BRS Microfinance Coop is a recognised development fund. If you are a private individual investing in a recognised development fund like BRS Microfinance Coop, you may claim 5% tax relief on your investment.
To be entitled to claim (full) tax relief, you must hold the shares at least five years without interruption.
The tax relief is granted one off in the year when the payment is made.
If the shares are held for less than five years, the tax relief claimed will be partly clawed back.

What am I entitled to on withdrawal??

Those wishing to alienate their A shares can submit a withdrawal request during the first six months of each financial
year (between 1 January and 30 June).
Upon withdrawal, you are entitled to a severance share, which is stipulated as being the lower of:
a) the nominal value of the share (500 euros per share)
b) the accounting book value of the share at the end of the financial year in which the member has submitted a withdrawal request.

Complaints handling and governing law

In the event of complaints, you can contact invest.brs@brs.coop. The full complaints procedure is available at www.brs.coop. You can also contact the Ombudsman in financial conflicts (Ombudsfin), North Gate II, Koning Albert II-laan 8, bus 2, 1000 Brussels, tel.: 02 545 77 70, e-mail: ombudsman@ombudsfin.be, www.ombudsfin.be.
The 'A' shares and the rights and duties of BRS Microfinance Coop and the banks providing the counter services are governed by Belgian law. All disputes fall within the jurisdiction of the Belgian courts. 

Warning

(1) Investing in shares entails certain risks. BRS Microfinance Coop A shares can only be subscribed for by natural persons.
The shares are registered, may not be transferred and, when selling, the maximum amount paid back is the nominal value. If you subscribe, you risk losing some or all of your invested capital. The company seeks primarily to generate a substantial return for society, the impact of which could limit the financial return. Please therefore read the Key Information Document (KID), the information sheet, the annual report and the investment policy beforehand, paying special attention to the risk factors. BRS Microfinance Coop is subject to a number of risks, including market risks, concentration risks, debtor risks, country risks, exchange-rate risks, interest-rate risks and liquidity risks. In addition, withdrawals can have a considerable impact on the cash flows of BRS Microfinance Coop.

Download here for additional information

  • Statutes BRS Microfinance Coop
  • Website BRS Microfinance Coop
  • Key information document
  • Privacy Statement BRS Microfinance Coop
  • Info sheet
  • Investment Policy BRS Microfinance Coop (in French)

Subscribe to the cooperative shares of BRS Microfinance Coop

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