Ramp Surface Coatings Ltd

These Terms and Conditions were last revised in December 2017.

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Information about the Cyrus Secured Loans Precision Engineering EIS Fund and Cyrus Investment Management LLP.

The Cyrus Secured Loans Precision Engineering EIS Fund (the “Fund”), is an approved EIS fund, which seeks to make investments in EIS qualifying companies that are carrying on an engineering business or who make loans to a qualifying subsidiary which is carrying on an engineering business. Cyrus Investment Management LLP, an English limited liability partnership with the registered number OC396622 and with its registered address at 33 St James’s Square, London SW1Y 4JS (“Cyrus”). 

Financial promotion

The Manager has approved the content of this section of website relating to the Fund and the information memorandum in respect of the Fund (the "IM") for the purpose of section 21 of the Financial Services and Markets Act 2000.

HMRC approval

The Board of HMRC has approved the Cyrus Secured Loans Precision Engineering EIS Fund (the “Fund”) as an Approved Investment Fund within the terms of section 251 of the Income Tax Act 2007. The approval of the Fund by the Board of HMRC is relevant only for the purpose of attracting certain tax advantages provided by section 251 of the Income Tax Act. Such approval covers only certain administrative matters. It in no way bears on the commercial viability of the investments to be made; neither does it guarantee the availability, amount or timing of relief from income tax or capital gains tax.

Intended Audience and Use of Information

The information on this website does not constitute advice of any kind (including investment, legal or tax advice) or does not amount to an offer or invitation to buy or sell an investment in any fund referred to on this website:

* In any jurisdiction where such offer or invitation is unlawful; or

* In which the person making such offer or invitation is not qualified to do so; or

* To whom it is unlawful to make such offer or invitation.

Persons resident in territories other than the UK should consult their professional advisers as to whether they require any governmental or other consent or need to observe any formalities to enable them to invest in the products described in these pages.

Investors should not rely on any information or opinions contained in this website in making an investment or other decision but should obtain appropriate and specific professional advice.

Availability of the IM on this website

Individuals will only be permitted to download the IM where they have been certified as a ‘high net worth investor’, a ‘sophisticated investor’, a ‘self-certified sophisticated investor’ or a ‘restricted investor’ in accordance with FCA rules.

Applications To Invest in the Fund

Applications to invest in the Fund should ONLY be made on the basis of the information set out in the IM and the terms and conditions of the applicable investor's agreement.

Applications for investment in the Fund from prospective investors who would be deemed to be equivalent of “retail clients" of the Manager will be accepted only where in the view of the Manager, such investment in the Fund is suitable for that investor in accordance with COBS 9.2. Such assessment of suitability will be based on whether the investment in the Fund meets the investor's personal investment objectives, he or she is able to financially bear any related investment risks consistent with his or her investment objectives; and that he or she has the necessary experience and knowledge in order to understand the risks involved in relation to the Fund.

General Risks

As a prospective investor in the Fund, you should be aware that there are numerous risks associated with venture capital and particularly investments that qualify for tax the Enterprise Investment Scheme ("EIS") which the Fund is intending to make. Those risks that the Manager is aware of and deems to be material are set out in detail in the IM and prospective investors should thoroughly read, understand and familiarise themselves with these risks and consult an authorised financial adviser prior to making any investment in the Fund. However, you should note that there may be additional risks that the Manager is not aware of or currently believes not to be material which may have a detrimental effect on the value of investments.

Past performance is not necessarily a guide to future performance. The value of an investment may go down as well as up, in which case an investor may not get back the amount invested. Investments in small unquoted companies carry an above-average level of risk.

Risks specific to EIS Funds

Investing in smaller, unquoted companies which constitute EIS qualifying companies is a high risk investment strategy. Proper information for determining the value of  EIS investments or the risks to which they are exposed may not be available. Investment in such EIS companies can offer good investment returns but by its nature is illiquid and uncertain and consequently involves a higher degree of risk than a portfolio of quoted shares. Realisation of investments in unquoted companies can be difficult and may take considerable time. There is no liquid market on any public exchange or elsewhere; as such, an investment in the type of companies in which the Fund will invest will not be readily realisable.

To qualify for the up-front /or EIS income tax relief and the various capital gains reliefs, an investor must retain their shares in an investee company for a minimum period of three years from the subscription date. Failure to do so will lead HMRC clawing back any of the reliefs claimed. HMRC may also claw back any reliefs claimed, if the investor has received value from an investee company. Furthermore, although the Manager will take reasonable steps to ensure that investee companies are qualifying companies for the purposes of the EIS, there is a possibility that an investee company may lose its qualifying status and again, this may lead to tax reliefs being clawed back by HMRC in relation to that particular investment. The Manager can make no guarantees as to an investee company’s qualifying status under the EIS.

Investors should also be aware that while the Fund has been set up to comply with current legislation, it may be the case that the EIS and other applicable legislation is amended or withdrawn leading to the withdrawal of any opportunities for tax reliefs.

Privacy Policy

Any information you provide to us will be used to administer your requirements and determine the information and documentation that we will send you. Occasionally we may also use your details to inform you of other features, services and products which we think you may be interested in and we may contact you by post, fax, email or telephone. We will keep your personal information confidential except to the extent that we are compelled to disclose it by law or to comply with an instruction of a regulatory body of competent jurisdiction. To comply with the requirements of the Data Protection Act 1998, we adhere to strict security procedures and have taken all appropriate measures to ensure that no unauthorised disclosures of your details are made to a third party without your permission and unauthorised access to it is prevented.

Liability

Cyrus will take reasonable care to ensure that the information provided on this website is accurate and up to date, although no representations or warranties are given of any kind, express or implied, with regard to the accuracy or completeness of this information.

Cyrus and its partners, directors, employees and officers exclude all liability and responsibility in connection with the use of this website. Users of this website do so entirely at their own risk.

Cyrus may amend the content of this website or any part of it, or may periodically make it unavailable for updating, with or without notice, at any time, and are not liable to users of this website for any effect thereof. The above limitations and exclusions do not purport to apply to liability for fraud, or for death or personal injury caused by negligence.

Tax

Tax assumptions are subject to statutory change and the value of tax reliefs will depend on your individual circumstances. The tax reliefs available to certain investors in EIS qualifying companies are dependent on such companies maintaining HM Revenue & Customs approval. If this approval is withdrawn, a company will lose its status and all tax reliefs are likely to be cancelled. UK based investors must retain their shares for three years to retain the up- front income tax relief. Prospective investors should ensure that they read the risk warnings set out in the IM.

Intellectual Property Rights

All intellectual property rights in the Site are owned or licensed by Cyrus and are protected by law. We reserve all such rights save that you may print off and download extracts from any part of the Site for your personal reference or to bring to the attention of others within your organisation. You may not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text and the status of Cyrus and our contributors as the authors of material on the Site must always be acknowledged. You may not modify or use any content from the Site for commercial purposes without obtaining a licence to do so from us or our licensors.

UK Stewardship Code

The FCA’s Conduct of Business Sourcebook rule 2.2.3R, requires Cyrus Investment Management LLP, as an Investment Manager, to include a disclosure stating the nature of its commitment to the UK Stewardship Code (“the Code”) issued by the Financial Reporting Council. If the firm does not commit to the Code, it must state in general terms its alternative investment strategy. The code sets out various principles relating to the level of engagement by investors with UK equity investors.

Details of the Code can be found at the following: https://www.frc.org.uk/investors/uk-stewardship-code  

Investors may either comply with the Code or choose not to comply with certain aspects of the Code, in such case an explanation of non-compliance is required. The firm’s alternative investment strategy is to invest in UK precision engineering companies through the Enterprise Investment Scheme (EIS). Therefore, although the firm supports the objectives set out within the Code, the provisions are not deemed to be relevant to the type of investment strategy and trading currently undertaken by the firm. Should any material changes occur to the strategy which would make the Code relevant, the firm will amend this disclosure.

Contact Details for Further Information and Queries

If you have any queries regarding this website, or would like further information about the Cyrus Secured Loans Precision Engineering EIS Fund, you may send an email to info@cyrusim.com or telephone 0207 451 4596. Full contact details for Cyrus are available on the contact page of this website.