Gold Salvage Update
Did you miss out last year on the Britannia’s Gold share issue? Britannia’s Gold have just made available, on a first come first served basis, the remaining 900 shares. Once they are gone, they are gone.
Most members of the Angel Business Club will be aware that Britannia’s Gold (BGL) set sail on Wednesday April 4th to carry out a comprehensive survey of 5 potential target wrecks. Progress to date has been so good that with the survey now already being conducted on wreck 3, there is the very real possibility that this survey programme will be extended to include two additional wrecks which will be a wonderful return on our investment.
These wrecks have been extensively researched and equally importantly, subjected to independent assessment. All are believed to have been carrying substantial value cargoes but the final decision as to which will be the first targets in the next salvage programme will be made after this survey which is expected to last circa 21 days.
Following our initial capital raise, there remain un-issued shares in BGL. It was our intention to retain these and to issue them to potential USA based joint venture partners, allowing them to participate as principal shareholders as well. However, current negotiations suggest this is not necessary and therefore these shares are available for purchase.
Given the enormous support that BGL has had from existing shareholders and Club members, it seems appropriate that these should be offered first to the latter. Their take up will conclude the issue of all ordinary shares and they will rank equally with ordinary shares issued to date. To remind all of the terms, owners of these shares will rank after Seed Preference shareholders but will then have a prior return of their capital twice before any Founder shareholders participate. Given that BGL is quietly optimistic of the current salvage programme, this should be the last and only time these shares will be offered to investors.
The salvage programme is expected to re-commence on or around the 20th May. This offer will remain open until the day of departure.
If you are already a member of the Angel Business Club, you can apply for shares in the back office. If you want to just join the Club and apply now so you don’t miss out – here are the instructions of where and how you can sign up: