SHARE OWNERSHIP - CURRENT BENEFITS

Share Allowance - example based on a 10m boat

	Non Shareholder	1 Share	4 Shares
	(full rate)
10m	£3,233.33	£3,233.33	£3233.33
Allowance	Nil	(£495.00)	(£1980.00)

Total Net	£3233.33	£2738.33	£1253.33
VAT @20%	£646.67	£547.67	£250.67

Total Cost	£3,880.00	£3,286.00	£1,504.00

From the above it will be noted that the charge per metre with one share is £328.60 and with four shares it is £150.40 compared with £388 for a non-shareholder. Accordingly, a return of £594 (allowance on one share + VAT) is the equivalent of £742.50 to a 20% taxpayer or £990 to a 40% taxpayer and a return of £2376 (allowance on four shares + VAT) is the equivalent of £2970 to a 20% taxpayer or £3960 to a 40% taxpayer. This also applies to the following benefit:

Hoisting Charges

Currently a 12.5% reduction is available on hoisting charges for each share held (up to a maximum of 50% reduction) for lift-out and relaunch. Applying this to our example of a 10m boat this means:

All prices inc VAT	Non Shareholder	1 Share	4 Shares
Lift out to yard or relaunch	£144.00	£126.00	£72.00

Details of those wishing to buy or sell shares can be obtained from the Registrars of Sailport Plc by contacting:

Bishop Fleming Chartered Accountants
Cobourg House, Mayflower Street, Plymouth PL1 1LG
Tel: (01752) 262611 / Fax: (01752) 667882.