Business plan being finalised as Rolle share issue looms

10:46 16 February 2012

The Owen Building at Rolle College

The Owen Building at Rolle College

Archant

Shares for the Rolle Centre will be available from March for six weeks.

The first share offer will have a minimum investment of £100, although syndicates of four people can club together to buy a bundle.

A total of £500,000 is needed to re-commission the buildings at the Douglas Avenue site including the main building, the Owen building, the Daw building and the administration building.

However, before buying shares purchasers are advised to read the detailed share prospectus, to be published in March.

This will include a summary of the business plan and will be on the website www.rollecentre.org as well as available in hard copy.

Roy Pryke, chairman Rolle Exmouth Ltd, said: “We do not expect the Exmouth area to provide all of the £500,000 and more that will be needed to re-open all of the buildings in due course, something like £200,000 in the next few months from the local area with a similar sum from elsewhere would set us under way.”

He said they were seeking funding from other sources, but local support was needed to unlock some of those, such as the Big Lottery Fund.

Mr Pryke clarified that, although the directors of REL were unpaid volunteers, and would continue to be so, when they take over the Rolle Centre the managing director would be paid a wage.

He added: “The response at the public meeting and since has been very encouraging in terms of financial and practical help. We have responded to the strong wish expressed publicly to save Rolle and provide new opportunities.

“So far, so good. Now we have to finalise the business plan, complete the details of the share offer and confirm with the many interested organisations how the Rolle Centre will take new shape.”

More information is available on the web-site www.rollecentre.org

If anybody wishes to clarify any points or to offer help would they please contact the managing director, Roger Staker, at admin@rollecentre.org

0 comments

Other News Stories

Yesterday, 09:00

Supermarket giant Tesco’s plans for Budleigh have been opposed by town planners.

Read more
Friday, February 27, 2015

Work on the long-awaited cycle track across The Green in Budleigh Salterton is finally set to get under way later this year.

Read more
Thursday, February 26, 2015
Kirk Westaway, who has reached the international grand final of the San Pellegrino Young Chef competition.

An Exmouth chef, who now plies his trade in Singapore, is to take on the world’s best in a prestigious competition.

Read more
Thursday, February 26, 2015
Labour candidate Steve Race

Charity campaigner and former Red Cross worker Steve Race has been picked by Labour to contest the East Devon seat in May’s General Election.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 7°C

min temp: 2°C

Most Read News

Advertise in the Paper
Submit a Story
Subscriptions Order
Competitions
Photo Orders
Family notices
iwitness24
Google Plus
Facebook
Twitter
Family Notices 24

Digital Edition

Image
Read the Exmouth Journal e-edition today E-edition



Exmouth's trusted business finder