What is an investment pledge?
Our equity release programme begins at the end of October 2018. We are going to release £150,000 of shares in the Sky Hopper project. The goal is to use the Special Enterprise Investment Scheme (SEIS) which allows investors to claim income tax relief on their investment. There are other capital gains advantages as well.
In order to meet the rules of the Special Enterprise Investment Scheme we have to show HMRC that we have the support of a known group of investors.
To do this, we are collecting investment pledges. This follows a model commonly used in the United States where a loose syndicate of unrelated like minds join together to make a promise – a pledge – to provide funds once the syndicate as a whole has reached a target offering.
The maximum investment for an SEIS scheme is £175,000. Our goal of £150,000 will allow us to develop our present demonstrator vehicle to the point of first flights and so open up the possibility of proving its revenue earning potential.
There are of course uncertainties associated with this investment and you should only offer to invest if you can accept the loss of these funds.
We have a separate direct outreach programme seeking supportive businesses and sponsors. Could you help us in some way? Contact us here.