Fred Dibnah Shares

brasso

Ryan101 wrote: »

I was wondering if someone could quickly have a look at this and tell me what they think, I was thinking of investing £250.

Depends what you are actually asking. If the question is "Do you think this is a good investment, i.e. one that will make me some money?" then the answer is no, no, a thousand times NO!

If you are not asking that question, I'm not sure what the question might be.

In short, I would -- as Glen Clark says -- go and visit the place if you're a Fred D fan, but I don't know why on earth you would want to give these people money that you are never likely to see again.

The old flannel about 'get in quick before the big boys' is risible and extremely cynical.

Avoid.

jamesd

Ryan101 wrote: »

I was wondering if someone could quickly have a look at this and tell me what they think, I was thinking of investing £250.

I think that it is seriously misrepresenting the investment:

"30% tax relief under the EIS scheme, so you get a third of your investment back almost immediately... we envisage being able to offer around 3% in dividends for investments up to £5k and 5% for investments over £5k, remember though these interest rates will be TAX FREE"

Tax free dividends or interest are not offered by the EIS scheme. They are offered by VCT schemes.

Glen_Clark

jamesd wrote: »

I think that it is seriously misrepresenting the investment:

"30% tax relief under the EIS scheme, so you get a third of your investment back almost immediately... we envisage being able to offer around 3% in dividends for investments up to £5k and 5% for investments over £5k, remember though these interest rates will be TAX FREE"

Tax free dividends or interest are not offered by the EIS scheme. They are offered by VCT schemes.

I think [TEXT DELETED BY FORUM TEAM] intends to be in Spain by the time they realize that..
It obviously isn't profitable as he hoped, he has failed to sell it because anyone spending the sort of money he wants would do due diligence, so selling it in unmanageable bits to people who think they are supporting the late Fred Dibnah is his plan C

Ryan101

Glen_Clark wrote: »

I think [TEXT DELETED BY FORUM TEAM] intends to be in Spain by the time they realize that..
It obviously isn't profitable as he hoped, he has failed to sell it because anyone spending the sort of money he wants would do due diligence, so selling it in unmanageable bits to people who think they are supporting the late Fred Dibnah is his plan C

I think the bit about the big boys is waffle. In my view the big boys would already have been and gone with it if it was that good.

I would like to thank everyone who has taken the time and trouble to comment, it has helped me and I won't be investing.

I did receive an email which I will paste below (I have xxx'd out any phone numbers, addresses etc). Its really just for information, but please feel free to comment if you like as it might help others to understand to avoid things like this.

Thanks Again.



Well folks Its been a long time coming but we had to get everything right, the Gvmt. have closed off CIC's with no notice, so we have decided to keep it simple and run as a "social enterprise" Ltd. Company, in order to attract the serious investors as you know we had to introduce a minimum of £250, but please read on and you should find it veeeery interesting, , below is the email we have only just this week sent out the people that have expressed a wish to purchase shares, if you are interested in a rock solid tax efficient investment whilst helping preserve Freds legacy then please act quickly before we open it up to the bigger investors as we want true Fred fans like yourself to have first dibs ( pun intended).

After months of to-ing and fro-ing and studying and many headaches to make sure we get it right and its all legal and transparent, we are now ready to launch the share issue. We have had to introduce a minimum of £250 shares. Please don't think me cheeky but if you don't ask you don't get, as my mum always taught me.

Rather than thinking in terms of the minimum. Please consider increasing your investment, possibly even double it, or going for the £5k plus ( with 5% tax free dividends it makes the banks and Building societies look sick ) because if everybody does this then we only need half as many people to make it happen, and with 30% tax relief this means you will get 30% back almost immediately, you wont get that from the Banks or Building societies. Remember this is not one of those internet bubble schemes, this investment is in bricks and mortar, priceless artefacts, Freds wonderful collection of Victorian steam Machines and a solid business with tons of potential, and we want Fred's true fans like yourself to have first option before we announce it to the serious investors who will be buying in lumps of £5k plus.

If you have recovered from the shock of that, here is another shock, our scheme will be whats known as an EIS which stands for Enterprise Investment scheme, and guess what !! on investments of £250 or more you will qualify for 30% tax relief, thats not a missprint its 30% tax relief, with no tax on any capital gain and no tax on dividends earned.

So for instance if you could lay your hands on £500 it will only cost you £350, when you get your tax rebate, investments up to £5k will receive 2.5% dividends equal to 3.5% tax free. If you are fortunate enough to be able to invest £5k or more then the interest rate will be around 5% tax free which is equal to 7% or 9% if you are a 40% tax payer, (better than the banks).

here is a link where you can see the EIS tax relief details, you can email us at xxxxxxx@live.com for an application form.

we are determined to make this work but if you cannot afford the extra then its fine and please dont fall out with me for having asked.

Whatever you decide to invest could you please send a cheque made out to xxxxx. to xxx xxx xxx ( or call me on xxx xxxx and we can do it by card )

Once again Many thanks for your support, your share certificates will be sent out in due course as will your prospectus.

Kind regards [TEXT DELETED BY FORUM TEAM]

Glen_Clark

Well its not down to us to 'preserve Fred's legacy' because I am sure that, one way or another, the TV programmes, the Traction Engine, and the House will survive - even if somebody just buys it to live in rather than make money out of, like they have with other famous people's houses like LS Lowry etc

Rollinghome

Ryan101 wrote: »

Once again Many thanks for your support, your share certificates will be sent out in due course as will your prospectus.

Kind regards [TEXT DELETED BY FORUM TEAM]

So first he will take the cash and only then send the prospectus? That's an odd arrangement. Are the funds received to be invested in the business or pocketed? Sounds anything but the "rock solid tax efficient investment" as described.

Looks like a hard sell aimed at people with small amounts of money and little understanding of investing.

paddyrg

Is it legal to promote unregulated investments to retail investors without FCA registration?

Glen_Clark

brasso wrote: »

The old flannel about 'get in quick before the big boys' is risible and extremely cynical.

Avoid.

Its about as credible as his request for money to save the place from redevelopment when he has already bought it and its Grade 2 listed. He says he also wants to buy a steam roller, but it won't be Freds steam roller, just like it isn't Freds tools in the shed - that would have been a reason for people to pay to see it instead of the excellent free museums in the area.

redux

I've never read this thread before, or ever heard of this scheme.

To me, I don't need to form a view on what other people have said. The wording of the quoted email from the person running the scheme is sufficient to define how attractive an opportunity this is.

talexuser

I think he'd better sue many of the replies on the Telegraph article too :rotfl: