August 2003

WAM Announces Phase-4 Equity Issue to fund a new facility and high volume production tool-up and JAR certification.

Wilksch Airmotive is issuing new shares following the revaluation of the Company as a result of the release of the production WAM-120 and the growing order book for WAM/120/160 engines.
Shares are only being offered to existing shareholders and selected private equity investors.
There is no public offer or Company listing.

 

New Investment

July 2002: The Phase-3 equity placing is now complete.

 

2001 AGM

The 2001 AGM was held on 2 July.  Minutes are being mailed out week ending 13 July.

All business was completed as expected, including a new employee share option scheme.

 

Investors in Wilksch Airmotive- engine discount scheme

Investors receive a 25% discount on one engine for each £25k invested.
This scheme remains in place until completion of the "Phase-3" equity sale.

 

UK Investors in Wilksch Airmotive can benefit from the tax relief and offsets.

EIS gives UK taxpayers investment relief at a 20% rate.

Wilksch Airmotive Ltd is EIS eligible and many UK investors have already benefited from this significant tax incentive. 

 

CGT tax offset can be obtained by UK taxpayers in the year of investment and pre and post years.  In addition, capital gained resulting from the investment will only be taxed at a 10% rate.

CVI  the new scheme is effectively a Corporate version of EIS although some differences and additional requirements apply.  We have recently completed our first CVI investment by way of an upgrade to our engine test facility.

 

Visit the Revenue's site at http://www.inlandrevenue.gov.uk/ for further information on EIS, CGT and CVI  reliefs (use their own search engine).