|Accrington Cricket Club|
INVEST IN YOUR CLUB
The Club currently owes Thwaites Brewery approximately £80,000 of which 25% is being repaid by monthly instalments.
The balance is intended to be amortised by way of discount on purchases.
The brewery are not satisfied with the volume of business and wish to convert this part of the loan to a repayment loan which would involve a substantial further annual cash outflow for the Club.
Consequently, the Club is examining ways of raising money to clear the debt due to Thwaites.
The Club is proposing to issue up to £80,000 of bonds in denominations of £1,000, £500 and £100 each.
These will pay interest at 2% per annum and are repayable after 15 years. Each year £1,000 value of each denomination of bonds will be repaid by being drawn at random.
If the Club completes the sale of land for development within the next five years, all outstanding bonds will be redeemed at a 25% premium.
The proceeds of the bond issue will be used to repay existing brewery loans with any surplus being used for ground improvements.
Anyone interested in subscribing for one or more bonds should contact Steve Davies on 01254 382418 or 07780 517641.