SHADOTEC plc - ABOUT THE COMPANY Shadotec plc is a public limited company incorporated in England. It is and is intended to remain a “qualifying company” under the terms of the British Enterprise Investment Scheme (EIS). This excellent scheme has been set up by the British government to encourage investment in “eligible shares” of companies carrying on “qualifying business activities” by “qualifying investors”. Qualifying investors are, broadly speaking, private individuals who pay capital gains tax and/or income tax in the UK. A full summary of the terms of the EIS is set out on a separate page but briefly, qualifying investors can receive immediate tax relief of 20% of their investment in a qualifying company and, provided that the shares have been held for at least three years, can reclaim the balance of their stake from the Inland Revenue as further tax relief if the company fails. Fully paid up share capital of some £120,000 has so far been subscribed by around 100 private investors, and the majority of this money has been invested in the development of a body of intellectual property, know how, mould tools for wingsail components, prototype wingsail components, and a comprehensive CAD file which defines both the new Shadow 9m craft for the leisure market and the compact wingsail design for the propulsion of commercial ships. The current portfolio of patents, all of which are owned by the company for the benefit of shareholders, covers a wide range of intellectual property that should provide strong protection for the company as it moves ahead. Options include direct series production, licensing to others, or participation in joint ventures. Whatever the route (or routes) chosen in the march towards commercial success, it is intended that Shadotec plc will remain an EIS qualifying company. The present shareholders are still steadily increasing their shareholdings, and these funds are being used to continue with the Shadow prototype programme, to extend the company's patent portfolio, and to prepare for a public share issue in due course. The physical manufacture of ship wingsail systems and wing propelled yachts can be carried out anywhere in the world. The principal decision criteria are likely to be:     availability of high quality high technology people;     closeness to end use point, shipbuilding facilities for example;     low costs of production Thus wing yachts could be built in Mexico or Taiwan for access to the US market, ship wingsails in Scandinavia, Germany, France (cruise liner and car carrier building locations) or almost anywhere in the Far East. China for example must loom large in virtually any strategic planning scenario over the next few years. Details of the Enterprise Investment Scheme (EIS) can be found by clicking the link A selection of Frequently Asked Questions can be found by clicking this link