Padel Project Update

Dear [[firstname]]

Good News!

We are more than half way towards our pledge target of £120,000.

In fact, so far, we have received pledges totalling £61,000.

A big thank you to those of you who have already made pledges.

Our progress can now been seen on our Pledge Thermometer in the conservatory, as in the picture below.

I've had a couple of questions relating to the debenture scheme so hopefully I can clear things up.

Firstly the 5 year debenture scheme is a loan from you to the Club against which we will pay interest at the rate of 1% above the base rate at the time..

Todays base rate is 5% so your interest earned will be at a rate of 6%.

For example if you invest £10,000 your debenture will earn £600 per annum for 5 years. A total of £3,000

We will accrue that interest over the first two years and pay the £3,000 to you at a rate of £1,000 per annum in years 3, 4 and 5. At the end of the 5 year period we will also repay your original debenture of £10,000.

So if you would like to invest in our future please let me know how much you would like to pledge by replying to this email or by contacting me on 07919 575891.

A pledge can be as low as £1,000.

So let's see the temperature on our Pledge Thermometer rise so we can move the project forward towards an EGM

Yours in Sport

Steve Chilvers

Chairman and Director

[image]

07/08/2024

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