Rolle shares

12:53 24 February 2012

Your recent articles pointed up the exciting prospects for the new Rolle Centre and the immediate challenge to get it off the ground. We are confident that once it takes off, it will fly.

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.

We will be in touch shortly with the many people who have expressed interest, but I should explain for those not at the meeting:

● the share offer will be launched at the beginning of March and will be open for six weeks

● while, for this first offer, the minimum investment is £100, syndicates of four people can club together to buy a bundle

● before buying shares any purchaser should read the detailed share prospectus to be published in March, which will include a summary of the business plan and will be on the web-site www.rollecentre.org as well as available in hard copy

● 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, something like £200,000 in the next few months from the local area with a similar sum from elsewhere would set us under way

● we are seeking funding from other sources, but local support is required to unlock some of those, such as the Big Lottery fund

● the directors of REL are unpaid volunteers and will continue to be so

● when we take over Rolle the managing director will be remunerated for the demanding work required.

More information is available at www.rollecentre.org. If anybody wishes to clarify any points or to offer help, please contact managing director Roger Staker on admin@rollecentre.org or me on chair@rollecentre.org or drop a letter in at the Town Hall, our base until we open an office at Rolle.

Roy Pryke

Chairman, Rolle Exmouth Ltd.

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