CCDS release from Ecology Building Society listed internationally – New listing opens up shares to more investors ahead of further release

Ecology Building Society is pleased to announce that its £3m issue of Core Capital Deferred Shares (CCDS) has now been admitted to the Official List of The International Stock Exchange in the Channel Islands[i].

This listing means these initial shares – and any future issues by Ecology – are opened up to a wider group of private individuals and institutional investors.

The ethical lender’s successful growth strategy has seen a strong performance since the CCDS were issued in 2020. In the past five years, the mutual has grown total assets year on year and increased its balance sheet by more than £110m (49%).

“We were founded in 1981 to meet the financial needs of under-served customer groups,” said Gareth Griffiths, Ecology Building Society’s Chief Executive Officer.

“These are savers and borrowers who care passionately about the planet and their impact upon it. They also believe financial services can and should drive and influence positive change in society, including supporting homes and other developments which create sustainable communities and respect the environment.

“In the four decades since Ecology was created, the world had been catching up with our founders’ farsightedness, and we have continued to grow our purpose-driven lending to create positive social and environmental change. This is funded by our savings members, who are attracted to Ecology by our simple, transparent savings products which offer long-term good value.”

Ecology is the first UK building society to list a CCDS instrument on The International Stock Exchange.

This will support the Society’s future growth plans through a proposed further issue of CCDS, subject to market conditions.

[i] The issue was listed in The International Stock Exchange in the Channel Islands as the securities are below the minimum total value of £30m to be eligible for listing on the London Stock Exchange.