Investment Terms and Conditions
The investments into Druids Garden’s seed tunnels are structured as preference shares with the following terms attached.
- The investment is to be structured as preference shares issued by Druid’s Garden with an individual price of R500 each.
The preference shares are issued from a period of three years from April 1st 2020, until March 31st 2023. Upon expiry the shares will cease to exist however existing investors will be given the option to keep their investment but new preference shares with different terms and conditions shall be issued.
- At the end of the investment period the principal invested is returned to preference shareholders along with 10% of the profit made on the tunnels invested into. These figures will be confirmed and monitored by Druid’s Gardens auditors.
- These preference shares are to pay a fixed 15% annual return on the purchase price. Interest payments are to be made semi-annually. If the payments are not made in the quarter the interest owed to the investor shall be carried over to the next period.
- These preference shares do not give the holders voting rights in the operating decisions of Druids Gardens and its directors.
- These preference shares are not convertible into ordinary shares of Druids Garden or any of its subsidiaries.
- Financial performance reports are to be shared annually with all investors prepared by the company auditors.