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The Draw: 30 June

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Championships begin: 3 July

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News

 London, UK: The All England Lawn Tennis Ground plc has today announced that the issue price for the No.1 Court debentures 2017 to 2021 will be £31,000 each.  The application period starts today and will run until 27 May 2017.

The prospectus and application forms are available for download at www.aeltc.com/debentures.

Debentures are often bought and sold in pairs.

Each debenture will give the holder, between 2017 and 2021 inclusive:

  • one No.1 Court seat for each of the first 10 days of The Championships, without further payment;
  • access to the exclusive No.1 Court debenture holders’ restaurants and bars for each of the first 10 days of The Championships;
  • the ability to buy one No.1 Court seat for each of days 11, 12 and 13 of The Championships;
  • the ability to transfer or sell the entire debenture or individual daily tickets on the open market; and
  • the conditional right to subscribe for the next No.1 Court debenture issue.

Tickets allocated to No.1 Court debenture holders for each of the first 10 days of The Championships are the only No.1 Court tickets that are freely transferable and may be sold on the open market. 

No.1 Court, together with Centre Court, forms the centrepiece of The Championships, and, with a capacity of approximately 11,500, is a world class tennis venue in its own right.  In the first 10 days of The Championships 2015, more than half of the main draw singles matches on No.1 Court featured a top five seeded player.

Debentures were first introduced in 1920 to fund the purchase of part of the Company’s present Grounds and the building of Centre Court. Since then, the proceeds from subsequent debenture issues have provided funding for many significant improvements to the facilities at the Grounds.  As part of the Wimbledon Master Plan, No.1 Court is due to undergo a significant remodelling culminating in the installation of a new retractable roof (intended to be in place for The Championships 2019), thereby enabling a full scheduled day’s play regardless of the weather. The issue of No.1 Court debentures announced today is expected to raise £25 million before expenses, which will be put towards the cost of the No.1 Court project.

Each Debenture has a nominal value of £1,000, and is being issued at a premium of £25,000 plus VAT of £5,000, being a total cost of £31,000 per Debenture.  The payment instalment details are set out below:

 

 

Amount payable per debenture (£)

Instalment

Date payable

Nominal value

Premium

VAT*

Total

First

27 May 2016

1,000

10,000

2,000

13,000

Second

31 January 2017

-

15,000

3,000

18,000

 

 

1,000

25,000

5,000

31,000

* VAT has been calculated at 20%, being the rate currently in force.  If the rate of VAT increases, the total price payable for a Debenture will increase accordingly.

For reference, the Centre Court debentures 2016 to 2020 were sold in 2014 at a premium of £40,000 (which, plus VAT and their nominal value of £2,000, gave an issue price of £50,000). 

The expected timetable of principal events is:

Latest date for receipt of application from and first instalment

27 May 2016

Letters of allocation despatched

20 June 2016

Date for receipt of second instalment

31 January 2017

Repayment of nominal value

2 August 2021

For general media enquiries please contact:

Johnny Perkins, AELTC, + 44 (0)20 8971 2529 or 2443; + 44 (0)7909 975152; jper@aeltc.com

Alex Willis, AELTC, + 44 (0)20 8971 2730: awillis@aeltc.com

www.wimbledon.com/debentures

This announcement is not an offer of securities for sale in the United States. The securities discussed herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act. No public offering of the securities discussed herein is being made in the United States and the information contained herein does not constitute an offering of securities for sale in the United States, Australia, Canada, Japan, South Africa or any jurisdiction in which the same would be unlawful. This announcement is not for distribution directly or indirectly in or into the United States, Australia, Canada, Japan or South Africa.