Running a French Holiday Gite in Rural Brittany

Saturday, December 02, 2006

Shares in Speedferries

I received an email from SpeedFerries today which at first I thought was spam, but on careful reading I realised it wasn't as SpeedFerries Investor's page makes some similar points.

Here's the email:

Dear Customer,

Many of our loyal customers have asked for shares in our Dover-Boulogne ferry company, but Speedferries is legally prevented from issuing shares save to certain categories of investor. We are accordingly up-dating our records to establish whether any of our customers fall within any of the following permitted categories of investor:

(a) a high net worth individual;

(b) a sophisticated investor;

(c) a self certified sophisticated investor.

If you fall within any of the above categories and would be interested in investing in ordinary shares of Speedferries, please reply to this e-mail by sending an email to indicating which category you fall in. We will then be able to check with you your paperwork supporting your category. Please note that the minimum investment will be £50,000.

A high net worth individual must have an annual income to the value of £100,000 or more or hold net assets to the value of £250,000 or more [excluding for these purposes the primary residence, any loans secured on the primary residence, and all pensions benefits] and sign a confirmatory certificate in the required format.

A certified sophisticated investor is a person who has a current certificate in writing in the required format signed by a person authorised by the Financial Services Authority to the effect that he or she is sufficiently knowledgeable to understand the risks associated with investments in an unlisted company.

A self-certified sophisticated investor is a person who is a member of a network or syndicate of business angels and has been for at least the last six months before the date of the certificate; or made more than one investment in an unlisted company in the two years before that date; or is working, or has worked in the two years before that date, in a professional capacity in the private equity sector, or in the provision of finance for small or medium enterprises; or is currently, or has been in the two years before that date, a director of a company with an annual turnover of at least £1 million.

Kind regards

Curt Stavis
Chief Executive

I've been quite impressed and pleased with the service that Speedferries offer and would possibly have considered investing in them. Regrettably though I don't qualify for the 'high net worth' and 'minimum £50,000 investment'


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