Having now received the Big Society Capital investment, Bovey Paradiso is over-raising to £500,000. Additional monies will allow Bovey Paradiso to purchase some of the theatre and cinema equipment had previously had been planned to be loaned.
SITR Match Funding
This Ethex product has Advanced Assurance for SITR up to a value of approximately £300,000 invested by eligible investors.
Bovey Paradiso is a cultural and heritage organisation meaning that the 'General Block Exemption' exempts the organisation from the de minimis limits. This means it can revieve up to public sector support up to £150 million per year. As a result, only the SITR investors are counted within the SITR limit of £305,000.
Of the monies invested to date, approx £110k is from companies and £148k is under SEIS, meaning the remainder is SITR-eligible investment. All future investors up to the target of £500k will be have the availability of SITR.
In November 2017, the SITR limit was raised to £1.5 million in the Finance (No. 2) Act 2017. Bovey Paradiso has applied for SITR Advance Assurance to this higher level meaning if Bovey Paradiso were to reach their £500,000 target, subject to individuals' circumstances, the full £500,000 would be eligible for SITR.
|Offer opened||1st Sep 2017|
|Offer closed||28th February 2018*|
|Location of project(s)||Bovey Tracey, Devon|
|Updates||* Offer extended from initial close of 17.11.17|
|Offer price, per share||£1|
|Min. investment amount||£100|
|Max. investment amount||£40,000|
|Min. raise for offer to proceed||£190,000 *|
|Target raise||£400,000 †|
|* revised from £300,000 on 17.11.17||† revised from £290,000 on 01.12.17|
Bovey Paradiso expects to accrue 3% gross interest yearly from 2018, with the first payments being made in 2019. This offer has received Advance Assurance for SITR eligibility.
Bovey Paradiso expects to provide excellent new Arts facilities for the community in Bovey Tracey and surrounding villages.
Learn more about key aspects of this share offer
Aims, social and financial performance, and how it's run
Community Shares Unit Standard Mark
This share offer document and the business plan have been approved for the Community Shares Unit Standard Mark.
The Standard Mark is a quality assurance scheme for community share offers that provides the public with an independent way of checking the authenticity of a share offer and reassurance that it meets national standards of good practice.
Important information about Bovey Paradiso's decision to revise their offer targets, dated 1st December 2017.
Important information about Bovey Paradiso's decision to revise their offer targets, dated 5th October 2017.
Important information about Bovey Paradiso's decision to extend their offer, dated 17th November 2017.
The information on this website is only a summary of the offer document.
Before applying for shares the whole text of the accompanying share offer document and business plan should be read.
If you are in any doubt about the information on this website, the content of the accompanying prospectus or the action you should take, you should immediately consult a person authorised for the purposes of the Financial Services and Markets Act 2000, who specialises in advising on investment in shares and other securities.
Prospective investors should be aware that the value of the shares, which will not be quoted, cannot go up, but can go down. In addition, there is no certainty that investors will get back the full amount they invest.
As of the 28th February 2018 this offer is closed
The Ethex team are here to help from 9am to 5pm
01865 403 304