Dingle-Distillery-Brochure.pdf - The Dingle News

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2. Form of Investment BES relief is available in respect of newly issued qualifying shares. On making the relevant investment, the individuals will be granted new shares in Drioglann Daingean. These shares will be ordinary shares with no preferential rights. The individual will receive a share certificate detailing his/her investment. Once the company has traded for four months, Revenue will issue each investor with a Form RICT 3 in respect of their investment. This form should be retained for a period of six years in the event of any future Revenue queries. The investor will claim the tax relief in the year in which the investment was made i.e. if the investment is made in September 2009, the relief will be claimed in the individual’s 2009 income tax return. Investors must retain their interest for five years in order to avoid a claw-back of the relief. 3. Other Key Issues We understand from the promoters that they themselves are extensively investing in this project and promoter funds will not be returned to the promoters until the investors have received their monies. 4. Exit Mechanism At the end of the five year holding period the company will repurchase the investors’ shares. Put and call agreements will be put in place to facilitate the investor’s exit at market value following the relevant retention period. Market value will be determined by the company’s auditors and the determination will be final. Due to the rights attached to the shares, it is anticipated that the market value will not exceed the par value of the shares on acquisition plus 20%. The investors, investing more than 100k will have the option, but not the obligation of retaining 2% of their total investment at the end of the 5 year period, by virtue of retaining non-voting shares which have rights to dividends. 5. FGS’s role in this project It should be noted that FGS are the tax advisers to this project. However, FGS’s role is solely in this tax capacity and hence, FGS are not promoters to this project. The contact promoter for potential investors is Oliver Hughes (mobile no: 087 244 2576 email: oliver@theportehouse.ie). FGS have not been specifically asked to comment on the non-tax and financial aspects of the project. However, the promoters are available to discuss these aspects in detail with each investor.
BES investors with an investment of €100k plus will receive a Founding Fathers Cask of whiskey for €1 (not including duty and/or VAT) Ownership of such a cask confers the honour of being a Founding Father. The owner's name will be handstencilled on the cask and inscribed on a plaque in the visitor's centre. Founding Fathers are welcome to visit the distillery at any time and will be encouraged to taste their casks once a year in order to monitor development. Indeed, it is possible to be present in the distillery when your cask is being distilled. And there is a choice of cask available including port, madeira, oloroso and bourbon. This price is based on your whiskey maturing in a 250 litre cask, a hogshead, at cask strength 63%. Our distilleries preference is a sherry cask, but you may prefer your spirit to mature in either a bourbon, madeira, oloroso or port cask. €8,250.00 includes storage for up to 10 years, bottling labelling and insurance. When the Whiskey is drawn down excise duty and vat become payable. At 63% duty currently is €17.31 per bottle. Taking into account the Angels’ Share at 2% per annum, at 5 years this equates to approximately 320 bottles. €25.78 per bottle + €17.31 duty = €43.09 plus VAT As a Founding Father you will be invited to our annual party but why not distil your whiskey with our distiller. A purchase includes a 4 star house and within that week you will brew and distil your spirit. NOTE: Further details of the various lifestyle entitlements of being a Founding Father will be available at a later date. For further information contact: Oliver Hughes John Sheehy David L'Estrange The Porterhouse Brewing Company, John B. Sheehy & Co. L'Estrange & Co. 11 - 15 Tara Street, Waterside, Dingle, College House, 71 - 73 Rock Road Dublin 2, Ireland Co. Kerry, Ireland Blackrock, Co. Dublin, Ireland Tel: +353 (0) 1 671 5715 Tel: +353 (0) 66 - 915 2363 Tel: +353 (0) 1 278 0811 Fax: +353 (0) 1 670 9605 Fax: +353 (0) 66 - 915 2364 Fax: +353 (0) 1 278 094 Email: oliver@theporterhouse.ie mobile: +353 872 44 2576 FGS will be liaising with Oliver Hughes on the taxation issues. Email: john@johnbsheehy.com Email: info@lestrangeco.com
Page 1 and 2: Business Expansion Scheme Prospectu
Page 3 and 4: SOMETHING OLD To some, whiskey is l
Page 5 and 6: SOMETHING NEW There is an opportuni
Page 7 and 8: REBEL TERRITORY It is hard to conce
Page 9 and 10: Our Distiller’s Thoughts Dingle G
Page 11: THE ANGELS' SHARE and YOUR SHARE Bu
Page 15 and 16: STARTING A TRADITION The foundation

Dingle-Distillery-Brochure.pdf - The Dingle News

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