Ashford Local Radio - Ofcom Licensing

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(ii) Total number, class/classes of shares and issue price of shares (specify voting, non-voting, preference, other etc.). At the time of the signing of the shareholders agreement the issued share capital of ALR is 100,000 shares at 0.01 each. Post award this will be increased to 200,000 shares at 0.01 following a rights issue.The Rights Issue Shares shall be offered to the shareholders on a one for one basis at a price of not more than £3.50 per share All shares issued in ALR are A Ordinary shares with full voting rights. A breakdown of the current and proposed share structure is below. INVESTOR % NO. OF SHARES NO. OF SHARES CLASS OF SHAREHOLDING PRE AWARD POST AWARD SHARE Richard Sturt 10.00% 10,000 20,000 A Ordinary David Parker 5.00% 5,000 10,000 A Ordinary Keith Rawlings 12.22% 12,220 24,440 A Ordinary Nick Fitzgerald 7.50% 7,500 15,000 A Ordinary Tim Gill 0.20% 200 400 A Ordinary Paul Tory 10.00% 10,000 20,000 A Ordinary Tessa Knight 2.00% 2,000 4,000 A Ordinary Lea Randolph 1.20% 1,200 2,400 A Ordinary Malcolm Brook 3.00% 3,000 6,000 A Ordinary Frank Brake 5.00% 5,000 10,000 A Ordinary J Finn Kelcey 1.50% 1,500 3,000 A Ordinary Michael Bushell 1.50% 1,500 3,000 A Ordinary Arthur Gurteen 0.83% 820 1,640 A Ordinary Dennis Rose 2.00% 2,030 4,060 A Ordinary Brian Stoyel 0.83% 820 1,640 A Ordinary Kitty Brook 2.03% 2,030 4,060 A Ordinary Jacky Lechner-Hoebe 2.03% 2,030 4,060 A Ordinary Jane Buckle 0.83% 820 1,640 A Ordinary Richard King 0.10% 100 200 A Ordinary Jamie Freeman 2.00% 2,000 4,000 A Ordinary Laser Broadcasting Limited 30.00% 30,000 60,000 A Ordinary Peter Edwards 0.25% 250 500 A Ordinary (iii) All voting shareholders and holders of 5% or more of non-voting shares and loan stock should be named. State the number, class/classes and price of shares to be issued to each investor. Shown above (iv) Outline any shareholders agreements or arrangements which exist. A copy of the shareholders agreement follows as Appendix 1. www.ashfordlocalradio.com 100.00% 100,000 200,000 11
(v) Where a corporate body other than a current <strong>Ofcom</strong> licensee will be providing 30% or more of the required funding, details should be given of its directors and main shareholders, and of its activities. Laser Broadcasting Limited will provide at least 30% of the funding of ALR. Laser believes that there is a strong demand for local 'lifestyle' radio stations rather than radio stations with centralised programming from outside the area. It believes there is an untapped source of local advertising revenue that currently cannot afford to advertise on commercial radio. Laser is currently working with 11 other groups across the UK. It is proposed that Laser will supply ALR with accountancy, commercial trafficking and supervisory management services at rates significantly below market rates therefore reducing the ALR cost base. Its key shareholders and board members are as follows: LIST OF LASER BROADCASTING LIMITED DIRECTORS AND MAIN SHARE HOLDERS Full name Address No. shares Director Appointed Hugh Morgan Williams Cowesby Grange 6,000 YES 17/05/04 Cowesby Thirsk North Yorkshire YO7 2JL Nigel Reeve Cowles House 79,560 YES 09/09/02 Hope Mansell Ross-on-Wye Herefordshire HR9 5TL Susan Hall 2 Lees Farm Barn 4,275 YES 01/06/04 Pyrford Road Pyrford, Woking Surrey GU22 8UE Nicholas Jordan Altarnum 8,547 NO N/A Barden Road Speldhurst Tunbridge Wells Kent TN3 0PZ Charles May Wise Speke 44,240 YES 07/07/04 Commercial Union House Pilgrim Street Newcastle upon Tyne NE1 6RQ Keith Rawlings Summerhayes 20,000 YES 09/06/04 Cliff Road Hythe Kent CT21 5XQ Hugh Evans 30 Hawthorn Street 9,360 YES 21/05/03 Walbottle Newcastle upon Tyne NE15 8JS Anthony Vickers 20 Lawn Crescent 4,500 YES 07/07/04 Kew Richmond Surrey TW9 3NR Capital North East 3 Earls Court 110,179 YES 7/10/04 No1 Ltd Partnership 5th Avenue Business Park Team Valley Gateshead NE11 0HF www.ashfordlocalradio.com 12
Page 1 and 2: ASHFORD LOCAL RADIO www.ashfordloca
Page 3 and 4: > > > > > TABLE OF CONTENTS Section
Page 5 and 6: SECTION 105(A): ABILITY TO MAINTAIN
Page 7 and 8: NIGEL REEVE Position: Non Executive
Page 9 and 10: PAUL TORY Position: Non Executive D
Page 11: (ii) If there are firm plans to app
Page 15 and 16: SECTION 2 FINANCIAL AND BUSINESS PL
Page 17 and 18: 1. Broadcast Area To help define th
Page 19 and 20: 2.The Current Population The curren
Page 21 and 22: 2. Do you think that the existing r
Page 23 and 24: 2049 3589 Born in the UK 97023 Born
Page 25 and 26: 7. Local Advertising Revenue ALR is
Page 27 and 28: (e) Funding Detail the sources of f
Page 29 and 30: (iv) Bank overdraft Not applicable
Page 31 and 32: Advertising Revenue The applicant s
Page 33 and 34: Method Three - Local Demand ALR car
Page 35 and 36: ALR Salary Structure Department Rol
Page 37 and 38: Financial Projections The applicant
Page 39 and 40: TRANSMISSION PROPOSALS (g) Transmis
Page 41 and 42: 32dB Overspill Map (iii) Transmissi
Page 43 and 44: SECTION 105 (B) AND (C): CATERING F
Page 45 and 46: 2. Do you think that the existing r
Page 47 and 48: Putting Local Information First Alt
Page 49 and 50: > Local Sport www.ashfordlocalradio
Page 51 and 52: Programming Staff Schedule And Resp
Page 53 and 54: Catering for the Tastes of the Area
Page 55 and 56: SECTION 5 RESEARCH, DEMAND AND SUPP
Page 57 and 58: 1.The Quantitative Research Objecti
Page 59 and 60: Music Tastes Respondents were asked
Page 61 and 62: The ALR presenters were endorsed as
Page 63 and 64:
ALR Finding Local news and informat
Page 65 and 66:
ALR Finding The news should focus o
Page 67 and 68:
ALR Finding A great deal of interes
Page 69 and 70:
Programming Research Conclusions AL
Page 71 and 72:
5. Sales Qualitative Research Objec
Page 73 and 74:
EVIDENCE OF SUPPORT ALR believes th
Page 75 and 76:
4. Consultation Lunches Held a seri
Page 77 and 78:
5. Lunchtime Consultation Event Hel
Page 79 and 80:
7. Supported local Charities and Ev
Page 81 and 82:
SECTION 6 DECLARATION www.ashfordlo
Page 83:
APPENDIX 8 Appendix 8 - Promise of
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