SkyCity Shakespeare Season – revised Timing and Terms
Further to my last newsletter, here’s an update showing a change in the timing as to when the Shakespeare Season Offer must close, and the amount required to proceed.
Further to my last newsletter,
here’s an update showing a change in the timing as to when the
Shakespeare Season Offer must close, and the amount required to proceed.
The actual dates of the opening of the event - and the season - are yet
to be announced. However, the likely date will be either December 1 or
8. Tickets to attend the show will remain on sale for the next few
weeks.
Meanwhile, of course, investors’ funds raised will remain in trust and
not be spent until the event itself - and its timing - have been
confirmed.
The Offer
On a cash basis, the amount of investment sought to deliver the season
under this Offer is now only $300,000. And, unless funds are raised
elsewhere - which is quite conceivable - the project will only go ahead
once it is supported by a combination of:
-
Funds required received; this Offer not being the only source.
-
Future revenue expectations (for example group bookings).
-
Trading terms with suppliers; including deferred payments to align with income and/or incentive based on profit.
-
The normal and expected offsetting of hard cost via sponsorship or contra agreements.
-
Cancellation insurance is in place.
The promoter’s aim, once a) is achieved, is to work towards b) and when the go/no-go date becomes clear, work with a team of advisors to apply a realistic assessment test to decide whether (or not) to proceed based on the situation at the time.
The funds sought will be held in the Dominion Law Trust account until the season is confirmed.
The Team
During this waiting period the promoters will be operating with the cooperation of the liquidator of the old Pop-up Globe companies, Gareth Hoole of Ecovis KGA. In the meantime, with respect the trading, the advisors he will work with, include:
-
Graham Clarke; a serial entrepreneur with extensive business growth, financial, and governance expertise.
-
Chris Hocquard; principal at Dominion Law, and specialist in the business and law of entertainment.
-
James Bell; principal at James Bell Accounting, accountants who specialise in small to medium sized businesses.
-
Season stakeholders at SkyCity and Eventfinda, both of which would be working under agreements in which their remuneration is linked to the success of the season.
-
David Lawrence, Artistic Director, who is responsible for casting and making a production that delights audiences and sells tickets. David has been key to the artistic leadership of Pop-up Globe since 2015.
The Information
A revised Information Memorandum is now available – for copy reply to this email or call me on +64 21 902 901 for a copy.
.............................................................................................................................................................................................................
The above investment is not an offer of financial products that
requires disclosure under the Financial Markets Conduct Act 2013 (Act)
and is available only to wholesale investors as defined by that Act. It
is intended for distribution only to selected people to whom, under the
relevant laws, it can be lawfully distributed. It cannot be distributed
in any other jurisdiction, or to any other people. It is not an offer or
solicitations in any jurisdiction in which such offers or solicitations
are not authorised, or in which the person making such offers or
solicitations are not qualified to do so, or to any person to whom it is
unlawful to make such offers or solicitations. Any representation to
the contrary would be unlawful. No action has been taken by any person
that would permit a public offering in any jurisdiction where action for
that purpose would be required.
Cheers
John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 10,120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901
Email john.paine@tbkcapital.co.nz
For more information, please click the contact button below to send us a message.
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