Help still needed - BGG avoids liquidation, but situation remains critical..:
As we noted in the programme for this year's Big Green Gathering, licence conditions imposed by Mendip District Council and Avon & Somerset Police added around £120,000 to the costs of this year's event. When all the bills came in, it became clear that rather than the profit we might otherwise have expected, these extra costs have left us with a loss of over £75,000 this year.
Having already built up a deficit of similar proportions in 2005 and 2006, this meant that the Big Green Gathering Co. Ltd. had debts exceeding its assets by around £150,000, and would have had to declare itself bankrupt unless we could raise at least £100,000 to stay in business (we already had a £50,000 overdraft guarantee in place, and our guarantor was prepared to stand by us if we could raise the balance).
By the time of the company's AGM on November 24th, an appeal to shareholders and supporters had raised over £55,000 in donations, pledges and new share applications. This, together with the prospect of an investor putting a substantial sum into the company in the New Year, gave shareholders the confidence to vote against immediate liquidation. We had succeeded in doing enough to prevent a collapse, but the situation remains critical, and help is still needed to get the BGG properly back on its feet.
Please act now to help save the Big Green Gathering.
What you can do
1. Become a BGG shareholder (or, if you already have a share, find someone else to become a BGG shareholder)
We currently have around 850 shareholders who own one share each in the company, and (having increased our share capital at the AGM) we have a further 2150 shares available for sale. These are currently priced at £40 each, but the new Board of Directors (elected at the AGM) has decided that prices should rise at the end of January, so now is the time to act.
Shareholders can attend and vote at the company's AGM. As the BGG is a private limited company, all share applications have to be approved by the Board of Directors. Shares are limited to one per person. If you, or someone you know, wants to apply to become a shareholder, please email kerry@big-green-gathering.com and we will send you an application form.
2. Send us a donation
Donations may be sent by cheque to BGG, 10 St Johns Sq., Glastonbury BA6 9LJ, or made on line via the new donations page on our website. [Please note that cheques are preferable, as on-line donations are subject to a 4.5% processing fee and a 30-day delay.]
Cheques made out to "Big Green Gathering Co. Ltd." will be used for immediate payment or part-payment of creditors and essential office running costs.
Pledges of large amounts, whether as donations or loans, should be sent by email to kerry@big-green-gathering.com, as should any other ideas or suggestions for rescuing the situation.
3. Buy BGG merchandise and music down-loads
See our on-line shop for BGG T-shirts, programmes, postcards and other goods. We will also shortly be making available exclusive down-loadable live recordings of some of your favourite BGG bands. Every little helps!
4. Keep watching the website for news of up-coming BGG benefit concerts