Equity Investment Option

In the purchase of the shares of the companies which own Hermann’s Jazz Club by the Jazz on View Society, it may be necessary or appropriate to accept equity investment.
Equity investment would likely follow these rules:
Equity would be in Bastion Inn Limited which is the owner of the building which houses Hermann’s Jazz Club. For the purposes of these calculations, Jazz on View Society attributes the values of the shares in the purchase as follows: Bastion Inn Limited – $2,800,000.00, the other two companies $200,000.00.
Equity investment would be represented by preferred shares in Bastion Inn Limited and would be subject to certain restrictions. They would be non-voting shares, except in the event of certain pre-established conditions. They would be transferable subject to approval by the company directors and would include a first right to purchase by existing shareholders or the company.
The Equity investors would expect to realize a capital gain on the value of their shares based on a future sale of the building (or sale of the company by sale of shares) as a part of a site redevelopment that fully respects the requirements for the perpetual protection and sustainability of Hermann’s Jazz Club as operated by the Jazz on View Society.
Equity investors recognize that the property of Bastion Inn Limited (751/753 View Street) may be protected by a section 219 covenant to be held by the National Trust for Land and Culture (BC) Society which will protect the requirements for the perpetual protection and sustainability of Hermann’s Jazz Club as operated by the Jazz on View Society.

Investment Interest

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