We are very nearly there – just £65,000 to raise of the £365,000 we need. We’ve extended the closing date so that we can get this last money in.
The original closing date was set at the end of March because it appeared as if the treasury were going to axe the EIS tax relief from schemes like this from the end of this financial year. In the March budget there was confirmation that we have another six months before the tax relief is axed, so this gives us the flexibility to extend the share offer closing date into April. The sooner we get the last of the money the sooner we can start to build.