The financial statements are reviewed by an independent external auditor. The financial statements are eventually presented for approval to all shareholders of EDF Luminus Wind Together CVBA. They are invited to the annual general meeting, which takes place on the first Monday of the month of June.
When deciding whether or not to acquire shares of a company, investors need to rely on their own analysis of the terms of the offer, including the associated benefits and risks. We refer to Annex 1 to the Information Document, which lists a number of risks associated with the acquisition of shares of EDF Luminus Wind Together CVBA.
These risks are not exhaustive and are provided for information purposes only; they are not intended as investment advice or as legal, financial or fiscal device. We recommend investors to consult a professional who specialises in advice on buying and selling financial instruments in case of doubt.
Any natural person living or residing in Belgium and any legal person having its registered office in Belgium can apply to become a shareholder regardless of their age. If you are not a Belgian national, please read the answer to the question "I am not a Belgian national. Can I become a shareholder?"
There are NO age restrictions for buying shares. This means that children can also become shareholders. In this case, the subscription document is to be signed by the parent or the legal guardian. It goes without saying that these shares fall under the legal protection of minors, which imposes restrictions on access to assets of minors.
Category B shares can only be subscribed to by natural persons who have their domicile or place of residence in Belgium. Even if you are not a Belgian national, you can become a shareholder in the above case.
if you have a Belgian national registry number, you can simply fill in the web form
if you do not have a Belgian national registry number or encounter problems while completing the web form, then fill in this subscription form and send it by post or by email to email@example.com
Please note: EDF Luminus Wind Together CVBA cannot help you with questions relating to taxation.
You first need to complete the subscription form you can find at this link: www.windtogether.be. Upon registration on our website, you will receive instructions on how to complete your payment via email. You can also request a subscription form from the address Vooruitgangstraat / rue du Progrès 333/5, 1030 Brussels, by sending an email to windtogether@cooperaties or by calling the number +32 (0)2 205 17 28.
Shares are available when the Board of Directors opens up the capital of EDF Luminus Wind Together CVBA. The period of opening up of capital is always communicated on the website: www.windtogether.be. A total of 16,000 B shares are currently available at € 125 per share (€2,000,000 in total).
One person can purchase shares for a maximum amount of € 3000. This is a maximum of 24 shares. A family with 2 parents and 2 children may thus purchase up to 4 times 24 shares of € 125.
At present the subscription is limited to 24 shares per shareholder. From our cooperative point of view EDF Luminus Wind Together CVBA considers it more important to have many small shareholders rather than a few large shareholders.
Buying or selling shares does not involve any entry or exit costs in addition to the purchase price. Private individuals furthermore do not pay any withholding tax as you can only buy a maximum of 24 shares.
EDF Luminus Wind Together CVBA will send you a signed digital confirmation no later than 30 days after receipt of your payment. This confirmation is the official document. You will not receive a separate certificate.
EDF Luminus Wind Together CVBA ensures that any payment received is allocated to the correct shareholder. In addition, you will receive a confirmation no later than 30 days after EDF Luminus Wind Together CVBA has received your deposit.
Shares are in principle bought for at least 5 years. After the 5th year, you can exit but only in the first half of the fiscal year; however, you are not obliged to do so.
If you exit the cooperative, you are not entitled to any added value. The maximum you will receive is the capital value of the shares, possibly reduced by the loss in accounting value. The exit disbursement is paid out in cash no later than 15 days after the approval of the balance sheet unless the Board of Directors decides to bring forward the repayment by way of (possibly reclaimable) advance.
EDF Luminus Wind CVBA wants to involve as many citizens as possible, including but not limited to the people living in the vicinity of the renewable energy projects. Any natural person living or residing in Belgium and any legal person having its registered office in Belgium can make a well-defined and limited contribution in line with the terms and conditions included in the Information Document and the articles of association of the CVBA.
The decision to set up a cooperative company did not stem from a need for financing but from a desire to offer citizens the opportunity to invest in renewable energy projects and to share in the revenues of these projects. As such, the CVBA wants to create broad public support for renewable energy projects. More in general, the CVBA aims to advance, promote and raise awareness of renewable energy projects and sustainable energy use.
The exact dividend is determined in the annual general meeting of all shareholders. In 2016 and 2017 income up to € 190 is exempt from withholding tax for private individuals as EDF Luminus Wind Together CVBA is a cooperative company recognised by the NRC. From the financial year 2018 income up to € 640 is exempt from withholding tax for private individuals. Although no minimum dividend can be guaranteed, EDF Luminus Wind Together aims at an average income of 4.4 % of the nominal share value. If you have not owned the share for the complete year, the dividend is calculated pro rata temporis.
The dividend is paid during the month following the general meeting, which takes place on the first Monday of the month of June.
Your shares do not give entitlement to any reserves or added value There is also no capital guarantee.
No, there is no minimum dividend guarantee. EDF Luminus Wind Together strives for a return of, on average, 4.4% of the capital value of the shares, but there is no minimum dividend guarantee. If you do not own a share throughout the year, the dividend will be calculated pro rata temporis.
The actual dividend is in any case determined by the shareholders themselves during the annual general meeting on the basis of the financial results.
If the general meeting decides to pay a dividend, the dividend will be paid to the account number you specified. Payment will take place in June, the month after the general meeting took place. It is not possible to automatically reinvest the dividend in new shares.
Private investors are exempt from withholding tax on dividends. Up to and including the dividends paid in 2017, shareholders of recognised cooperative companies are exempt from withholding tax at the source. From 2018 this rule no longer applies, but it has been replaced by offsetting the withholding tax deducted via the personal income tax return: the first bracket of 640 euros in dividends per taxpayer is exempt from tax from now on. This exemption applies to all dividends of all Belgian and foreign companies. It does not apply to dividends on investment funds and legal constructions, however. The exemption therefore also applies for recognised cooperative companies such as Luminus Wind Together CVBA.
In 2017, as a family of four persons, you each held shares worth 3000 euros. We take 4.4% as dividend. For the shares that were owned for the whole calendar year each person will receive a gross dividend of 132 euros which together comes to 528 euros. Per person 30% withholding tax is deducted or 39.6 euros (times four persons). Therefore 72.4 euros net is actually paid out per person.
In the assessment year 2019 the withholding tax can be entered on your tax return (income for 2018). If the total dividends do not exceed 1280 euros for a couple (640 euros per taxpayer), you can offset all the withholding tax with the tax to be paid or refunded if no tax is owed. This is the case as the family only receives 528 euros in dividends. If the family holds shares in a number of companies, these must all be included on the tax return, but the tax exemption remains limited to the threshold of 640 euros (for a single person) or 1280 euros (for a couple).
The withholding tax exemption applies to each individual shareholder. If no family member buys more than 24 shares, no family member will have to pay withholding tax for their shares of EDF Luminus Wind Together CVBA.
As far as individual income tax (declaration of moveable assets) is concerned, the tax family is taken into account. Example: both partners and the 4 children receive a €180 dividend each (in total: €1080).
No shareholder exceeds the €190 threshold, so there is no withholding tax for the EDF Luminus Wind Together CVBA shares.
As far as the individual income tax is concerned : both partners are entitled to the €190 exemption in 2016 (in total: €380). This means they have to declare €700 in the tax return.
If the family holds shares in a number of companies, these must all be included on the tax return, but the tax exemption remains limited to the threshold of 640 euros (for a single person) or 1280 euros (for a couple).
If several family members receive dividends from the same or different companies, they must all be declared on the personal income tax return. However, the tax exemption remains limited to 640 euros per taxpayer (therefore a maximum of 1,280 euros per return for a couple). The refund of the deducted withholding tax will therefore also be limited to a maximum of 1,280 euros x 30% = 384 euros.
The withholding tax deducted on dividends of minors who are included on the parents’ tax return can also be declared and recovered in a similar way. However, the maximum exemption of 1,280 euros per couple remains applicable to all the dividends declared.
The new exemption of 640 euros only applies to natural persons (Belgian residents). The exemption does not apply to companies and/or legal entities that can offset the withholding tax deducted with the corporation tax return. Organisations that are subject to legal entity tax may not recover the deducted withholding tax.
After the 5th year, you can exit but only in the first half of the fiscal year; to do so, you need to observe a period of notice of one month and file an electronic repayment request with the Board of Directors of EDF Luminus Wind Together CVBA. We need to receive this request by 31 May of the current year. A request for repayment of shares bought in 2016 can be filed at the earliest between 1 January 2021 (after the 5th year) and 31 May 2021.
If you withdraw shares from the cooperative, you are entitled, as a minimum, to the capital value of your shares, so €125/share, possibly reduced by the loss in accounting value (on the basis of the approved balance sheet of the current fiscal year).