If you were at the YABA

investment forum in September

2010, you may remember this

company. ResusPod provides

an all in one package of

equipment and training to

dentists so they’re able to

handle potential medical

emergencies effectively. The

product package, along with the

fact that legislation has made it

mandatory for dentists to be

fully prepared for such

emergencies, made the

company a compelling

proposition.

The launch of the product at the

Dentistry Show on 04 March

was the beginning of the next

chapter for the company, which

began its life at the University of

Leeds in 2008. Company

founders, Kate Taylor and Julie

Burke, were among the first

recipients of the University’s Sir

Peter Thompson Award for

Enterprise, which provided

£5,000 to develop their idea.

The award led Kate to

undertake a Yorkshire Enterprise

Fellowship, a year long

programme of business training

and mentoring. “The Fellowship

was fantastic,” says Kate.

“I learned such a lot about

business and met some

incredible people, many of

whom have been invaluable in

our journey as a business.”

In 2010, Kate and Julie were

successful in obtaining Proof of

Commercial Concept Funding

from Yorkshire Concept, which

enabled the pair to accelerate

ResusPod’s development. “We

conducted a lot of market

research and tested the market

with the funding and it also

allowed us to take on business

manager, Mal Jarmolowicz, who

has been pivotal in moving the

company forward," says Julie.

Business angel Paul Smith and

investment partner Tim Ward

spotted the potential of

ResusPod straight away. “It’s a

good proposition and both Tim

and I have a lot of experience of

working in heavily regulated

sectors,” says Paul, “so we felt

we could bring skills to the

company, as well as finance to

help it get to the launch stage.”

Getting to launch is just the

beginning for ResusPod and

Kate says the company’s

already considering other

markets for the product.

“I didn’t think it would take this

long to get to this

point,” says

Kate. “But I

think it’ll be all

go from here

on in!”

Spring 2011

catalystNewsletter of the Yorkshire Association of Business Angels

www.yaba.org.uk

From idea to investment:ResusPod

l-r Kate Taylor, Mal Jarmolowicz, Julie Burke

2 Continental Brands investment;

Gripple Ltd profile

3 Propalms success at Venturefest

4/5 Exits: Making them work for you

6 Investment forum: Festival fringe

7 Company updates: Gapwork

and Retrogenix

8 EIS Seminar

In this issue:

A recent investment from business angels

Paul Smith and Tim Ward has enabled

ResusPod to fully launch their medical

emergency kit to the dental market.

Newsletter of the Yorkshire Association of Business Angels2 Spring 2011

Gripple LtdFormed in 1991, Gripple Ltd

produces an extensive range

of wire joiners and tensioners

from its base in Sheffield. The

company’s products are used

extensively in a number of

areas, from the construction

site to the factory and from

the farm to the supermarket.

Originally invented as a

solution to joining fence wire,

Gripple’s products continue

evolving and expanding their

uses.

Alan Somerfield is the Ideas

and Innovation Director at

Gripple Ltd. His background

is in product design and he

ran his own consultancy in the

UK for 15 years, achieving

success by designing a range

of vehicle steering locks. Alan

spread his wings and spent

several enjoyable years

working in California, joining

Gripple in 2007 on his return

to the UK.

Gripple’s latest venture, with

Alan at the helm, is Incub – an

ideas incubator aiming to help

budding entrepreneurs to

fast-track their product

concepts to market. The

recently-launched incubator’s

residents, or ‘cubs’ as they’re

referred to, are given the

opportunity to develop a

viable business within six to

twelve months, in return for

equity in their business. “It’s a

collaborative approach – the

cubs’ ideas plus our

expertise,” says Alan. “With

experienced mentoring on

hand, plus full access to

Gripple’s hardware and

business resources, the

incubator’s residents are

being given every chance of

success.”

Gripple Ltd joined YABA as a

corporate member earlier this

year and Alan is anticipating

exposure to new technologies

and investment opportunities.

“YABA is a good fit for us as

we’re both helping

entrepreneurs,” he says. “I’m

always interested in meeting

serious innovators and hope

to have the opportunity to do

so via YABA.”

Alan also wants Incub to

change people’s perception

of inventors as eccentrics in

the garden shed. “The

challenge is to show people

that innovation is a serious

business requiring planning,

strategy and dedication,” he

says. “Incub’s state of the art

ideas and innovations facility

here in Sheffield is available to

graduates, product designers

or mature individuals who’ve

spotted a gap in the market –

we’re open to all.”

www.gripple.com

www.incub.co.uk

Years of hard work in restaurants

and pubs, working his way up

from pot washer to bar manager

has paid off for entrepreneur

Simon Jackson, whose import and

distribution business, Continental

Brands, looks set for success

thanks to an investment by YABA

member Kevin Wheelock.

Spotting a business opportunity in the

growing taste for continental beers, and

using his knowledge of the catering

industry, Simon and his wife Laura

secured sole UK distribution rights for

the Greek beers ALFA and Marathon.

Further exclusive UK rights for

Portuguese, Italian and Far East bottled

and draught beers soon followed.

“Sales were good but the costs of

importing and warehousing meant we

needed some extra cashflow finance to

finalise a big new customer, but kept

getting turned down. We’d already

ploughed all our savings into the

business, and sold off assets to keep us

going through a tough 2010,” says

Simon. “It was so frustrating; we had

orders on the books and enquiries from

potential customers, so everything

hinged on raising some money.”

Simon decided to approach YABA and

an investment opportunity was circulated

to its members, which caught the eye of

Kevin Wheelock. After a period of due

diligence, he decided to invest, with the

deal structured as a loan with the option

to convert to equity later this year.

Says Kevin: “My background’s in

manufacturing, so this isn’t the usual type

of business I would consider investing in.

I’m not even a lager drinker – I prefer a

pint of bitter! But I was impressed by

Simon’s attitude, sales skills and

entrepreneurial spark. He’s a real go-

getter, who’s spotted and grown a great

opportunity in a tough industry. He’s

done a huge amount of legwork so far,

and has worked hard to make the right

industry contacts.”

Says Simon: “The investment is fantastic,

just what we needed at exactly the right

time. And just as important is Kevin’s

business experience – I know I can learn

so much from him about growing the

company.”

Simon’s original plans to sell directly to

125 restaurants – the equivalent of

importing one container load of beer per

month – have already been dwarfed by

current sales. The investment helped

secure his crucial first big deal and he’s

now selling to wholesalers too. He’s

currently importing between 40-50

containers a week and with Kevin’s

support is also in negotiations with

several large supermarkets.

CORPORATE MEMBER PROFILE

Alan Somerfield

l-r Kevin Wheelock and Simon Jackson

YABA information: 01423 810149 www.yaba.org.uk Follow us on

Continental Brands toasts new YABA investment

Newsletter of the Yorkshire Association of Business AngelsSpring 2011 3

The enterprise investment scheme (EIS) is a tax incentive

that applies to qualifying investors subscribing for new

shares in certain types of trading companies.

The rules are being changed from 01 April 2012 to increase the size of

companies that can qualify for EIS. From then on, the new proposals will

apply to companies meeting the following criteria:

• 250 employees (up from 50)

• No more than £15m gross assets before investment (was £7m)

• £10m maximum EIS investment (was £2m)

• £1m individual annual limit (was £500k).

In addition, tax relief available to individuals who invest in companies

which qualify under EIS will go up from 20% to 30% from 6 April 2011,

with a maximum possible investment of £500,000.

In view of the fact that the investment can also enable capital gains made

in the previous three years to be rolled over into the EIS, the maximum

relief on £500,000 could be as much as 58% (£30% income tax relief and

28% CGT relief).

In his budget statement on 23 March 2011, the Chancellor also

announced an intention to increase the maximum EIS relief that could be

claimed to £1m from April 2012 and to change the conditions so that

more companies qualify for EIS investment.

This article combines information from our recent business and private

budget briefings. Please visit Sagars website to read their tax facts card

and the briefings in full http://www.sagars.co.uk/news-&-

resources/5/resource-downloads/77/

Alternatively, hard copies are available by calling 0113 297 6767 or

sending an email to v.goff@sagars.co.uk

Fergus Beadle and Kate Naylor will be giving an EIS seminar for current

and prospective angel members at Sagars in Leeds on 17 May.

This year, YABA took sole

responsibility for organising and

running the Investment

Competition at Venturefest

Yorkshire.

Sponsored by Shepherd Group,

the Competition saw six Yorkshire

entrepreneurs pitching against

one another for the prize – a mix

of services, including

accountancy, insurance and legal

advice worth more than £33,000.

Businesses pitching in the

Competition faced questions from

a panel of judges which included

YABA Chair Andrew Burton,

YABA Director Peter Ball, serial

entrepreneur and investor Garry

Diver and Noel Clancy, CEO of

Shepherd FM. YABA members

also joined the finalists for a

private lunch sponsored by

Redmayne Bentley LLP.

Announced at the Awards Dinner

that evening was the Investment

Competition winner – Propalms, a

York-based provider of IT

systems which was looking for

investment to assist in its

expansion plans. Propalms,

which already has a network that

extends to 50 companies

worldwide, develops software

products to enable people to run

applications both on their

desktop computers and on other

devices. The runner-up in the

competition was Frooly.com, an

e-commerce marketplace with

social media features aimed at

local and independent

businesses. All the companies

that presented had exhibition

stands in the Innovation

Showcase alongside 20+

innovative businesses, many of

which have been in negotiations

with investors and we await news

of deal completions.

Elsewhere at Venturefest, the

static exhibition – once again

filled by key Yorkshire

organisations – provided a great

space in which to network. Aside

from this, one of the biggest

draws of the day was the Big

Debate, which primarily centred

around the role of the Local

Economic Partnerships and the

£1.4bn Regional Growth Fund.

Enterprise Investment Scheme – 2011Budget highlights from Sagars LLP

Propalms success at Venturefest

l-r Noel Clancy, Shepherd FM; Owen Dukes, Propalms;

Andrew Burton, YABA

Join us on YABA information: 01423 810149 www.yaba.org.uk

4 Spring 2011Newsletter of the Yorkshire Association of Business Angels

Exits: making them

Colin Glass is a long-standing

YABA member, serial investor

and Senior Partner in Winburn

Glass Norfolk, the chartered

accountancy practice he

co-founded in 1974. He is also

Non-Executive Director on the

board of a number of companies

that he has either advised

professionally or invested in

personally.

Colin’s expertise is in becoming involved

in early-stage companies, working with

the management team to add value and

then exiting, whether via trade sale or by

flotation. “I always encourage the main

shareholders to have an exit strategy in

mind when I start working with a new

company,” he says.

“The first thing to do, if it is not already in

place, is create a credible management

team. Usually this involves at least a Chief

Executive Officer, Finance Director and

Sales Director. A growth company should

have a Non-Executive Director who often

acts as Chairman. Any prospective buyer

will have to work with this team and rely

on them - not just the entrepreneur - to

run the business smoothly. Even a small

company should ideally have these key

people in place – it may be difficult to

achieve and may take a little time but it is

important. A buyer will also want to see

that systems and controls are in place all

through the business and for these to be

working well.”

When the time comes to exit, there are

various ways of starting the process as

Colin explains. “For larger businesses,

specialist corporate finance companies

will provide you with a list of possible

buyers. You may have your own contacts

within your sector to approach, or it’s

possible that a large potential buyer will

make the first move with a direct

proposition if it considers your business

particularly attractive. We exited the first

company that I helped to found, Datong

Electronics (now AIM-listed), after a

chance introduction through a trusted

business contact. The sale process

fortunately went smoothly as I was able to

negotiate and project-manage the deal

with the help of a good commercial

lawyer. The founders, including myself,

stayed on during the earn-out period and

left at the end of that term. The key factor

was that we had good financial

information and an excellent team from

the shop floor to the Board, which we had

built up over a number of years.”

Negotiation is very important in achieving

a successful exit – how much does a

buyer want your business and how

strongly do you want to sell? Colin

continues: “Owners of one company I

worked with wanted to exit in order to

move abroad. They didn’t want to sell to a

larger competitor who would simply take

their contracts and close the business

down, and so spent some time looking for

an alternative buyer to keep the company

going in its own right. However, if an exit

has to be made under pressure – either

of time or money – it may be necessary

to accept a lower price and to sell to an

unpalatable buyer.

When considering your exit, you need to

be realistic about what you can expect to

receive for your business. An experienced

advisor is invaluable and can help you

achieve the best price for your business

and the smoothest exit for you.”

C O L I N G L A S S

Colin Glass

YABA information: 01423 810149 www.yaba.org.uk Follow us on

Exit statisticsA report published by the National Endowment for

Science, Technology and the Arts, which was

supported by the British Business Angels

Association in 2009 brought together data from a

survey of 158 UK based private investors. In terms of

exits, it found:

• 44% of exits provided substantial rewards leading

to an average multiple of 2.2 on the original sum

invested.

• 35% generated between 1X and 5X the original

investment.

• 9% provided gains of 10X or more.

• This 9% produced 80% of cash returned.

• The average time taken from investment to exit was

3.6 years.

Please contact YABA for a copy of the full report

“Siding with the Angels Research Report 2009”

Newsletter of the Yorkshire Association of Business AngelsSpring 2011 5

work for you

Serial entrepreneur and YABA

member, Garry Diver, is Chief

Executive at Ultimedia Ltd, a

software house specialising in

e-learning, HR, web design and

e-commerce.

Garry started his first company in 1984,

after 15 years in the corporate world,

and since then has started, taken over

and sold a number of technology

businesses to high-profile buyers. Garry

also works with venture capital firms,

turning around ailing companies in the

UK and USA.

“Growing a business and guiding it to

fulfil its potential is certainly exciting,”

says Garry. “And, for me as an investor, a

successful exit is affirmation that I’ve got

it right – the investment decision,

developing the company, reading the

market and the timing of the whole

process.” Along with his successes,

Garry also has a cautionary tale to tell.

“Selling your small company to a much

bigger one presents a unique set of

challenges. Due diligence can be a

lengthy process – taking up to nine

months to complete. This removes staff

from their daily duties, possibly to the

detriment of the business itself,” he says.

Illustrating the potential pitfalls, he

continues. “A deal to acquire one of my

businesses had been signed off with a

major multinational, and the sale date

agreed. The acquisition was also

announced at a global corporate event

where I was a keynote speaker. After an

unexpected change of personnel at

senior level immediately after this, the

company pulled out of the deal at the

last minute. Despite having a withdrawal

penalty in place, it was a major setback

for me and my business partners.

However, we picked up the pieces and

sold the company 18 months later.”

Garry’s advice to angel investors thinking

about an exit is simple – trust your

instincts. “Start the exit process when

sales and income are heading up, not

when they start to flatten – there’s more

chance of a good sale. Prospective

buyers are investing in what they think

your business will be doing next year or

the year after – not what it did last year.”

February saw Mazars LLP running a

seminar for business angels about

exit strategies. The event was full of

useful information, tips and case

studies.

Oliver Hoffman and Rob Burton, both part

of Mazars’ Corporate Finance Team,

presented and discussed a range of issues

– from preparing for sale through to what

buyers would be looking for.

“One of the major factors in a successful

exit is understanding the buyer’s position,”

said Oliver. “The more they need your

business, the more they will be prepared to

pay for it. But even before you’re talking to

prospective buyers, it’s crucial that you’re

prepared. This preparation often

necessitates having an understanding of

what prospective buyers are looking for and

where the value of the business lies. By this

I mean that if you’re looking to exit a

business you must ensure the value is in

the business and not in the owners,” he

stressed. “Because if all the relationships

and knowledge are with the owners, and

there aren’t others within the business who

can take it forward just as well, the

business is much less valuable.”

Discussions followed about grooming

businesses for exit to ensure they reached

their maximum value in any negotiations.

This is important for a number of reasons,

from achieving the best price, through to

providing potential buyers with what they

want and ensuring no nasty surprises

during the due diligence phase.

Oliver and Rob also discussed the ways

they approach finding buyers. “We can

carry out some targeted research to identify

potential buyers,” says Rob. “Also, more

subtly, some careful PR and/or profile-

raising about succession planning at trade

shows can be useful.”

For angel (usually minority) investors, Oliver

stressed the importance of ensuring that

their plans are in line with those of the

majority business owners/managers. “This

should form part of your very early

discussions and be wrapped up in your

legal documentation. Be upfront, otherwise

as an investor you could be left in a weak

position with little control over future

direction and exit plans.”

G A R R Y D I V E R

Garry Diver

Join us on YABA information: 01423 810149 www.yaba.org.uk

Exit strategies – the YABA Master Class

As a fringe event to the Global

Manufacturing Festival, the March

investment forum was held at the AMP

Technology Centre in Rotherham.

Supported by Sheffield Hallam University

and the University of Sheffield, it offered a

packed schedule. As well as nine

presenting companies, a student from each

of the universities presented a pitch for

sponsorship for their entries to the Institute

of Mechanical Engineers’ Formula Student

Competition.

Presenting companies:

Colour Mobile VMS,DerbyshireCurrently the only company in the UK

providing solar-powered 5 colour portable

matrix signs, Colour Mobile VMS require

investment of £100,000 to expand their

wider market.

www.colourmobilevms.com

–––––––––––––––––––––––––––––––––––––––––––––––––

Swellaway Ltd, SheffieldSwellaway’s product is an electronic

software device in the form of a flexible

wrap which replaces the need for traditional

methods of compression treatments for

sprain and strain injuries. £100,000 is

required.

www.swellaway.com

Carrypeak Ltd t/asShapemaster, Huddersfield Shapemaster’s fitness equipment is already

a hit with care homes in the US. With a

large target audience at which to aim its

products, Carrypeak Ltd requires up to

£250,000 to increase its rate of growth.

www.shapemaster.co.uk

–––––––––––––––––––––––––––––––––––––––––––––––––

Ethicalcommunity.com, LeedsA portal for small ethical sellers to market

their goods, Ethicalcommunity.com is

looking for £200,000 investment to increase

its development team and refine the

shopping and selling experience, as well as

market the service internationally.

www.ethicalcommunity.com

–––––––––––––––––––––––––––––––––––––––––––––––––

Vidbo.co.uk, DerbyshireCreating video marketing incorporating

social networking for small local businesses

seeking to build their online presence,

£100,000 will enable Vidbo to recruit a

direct sales team and expand its concept

across the UK.

www.vidbo.co.uk

Pro Bio Healthcare Ltd,DaresburyPro Bio Healthcare produces premium

health supplements for IBS and other

conditions. The company seeks £150,000 in

exchange for equity, principally to assist

deeper penetration with current high street

retailers and boosting internet and

overseas sales.

www.probiohealthcare.com

–––––––––––––––––––––––––––––––––––––––––––––––––

Gel Doctor Ltd, HarrogateGel Doctor is a proven business, whose

main product is a liquid gel-filled insole

providing comfort and support in all types

of footwear. £100,000 investment would

enable the company to implement a sales

and marketing strategy to rapidly

accelerate its growth.

www.geldoctor.com

–––––––––––––––––––––––––––––––––––––––––––––––––

Adjuvantix Ltd, SheffieldSeeking £100,000 funding to further

develop its range of cancer vaccines,

Adjuvantix wants to take one of its vaccines

through patient clinical trials and then on to

a trade sale.

www.adjuvantix.co.uk

–––––––––––––––––––––––––––––––––––––––––––––––––

Trailer-Lift, StokesleyThis revolutionary product combines a

vehicle trailer with a built-in scissor lift,

allowing access to the underside of a

vehicle for those without access to a

workshop lifting bay. The product has

global appeal and the company requires

£500,000 to produce further units for sale.

www.trailer-lift.com

Newsletter of the Yorkshire Association of Business Angels6 Spring 2011

Festival fringe

Colour Mobile VMS

Gel Doctor

Shapemaster

INVESTMENT FORUM

YABA information: 01423 810149 www.yaba.org.uk Follow us on

Disclaimer: Investment in new business carries high risks as well as the possibility of high

rewards and potential investors should be aware that no established market exists for the

trading of shares in private companies. Before investing in a project about which information

is given, potential investors are strongly advised to take advice from a person, authorised

under the Financial Services and Markets Act 2000 (“FSMA”), who specialises in advising on

investments of this kind. Yorkshire Association of Business Angels (“YABA”) cannot advise on

the merits or risks of investment and is not authorised to arrange transactions or circulate

offer documents under the Financial Services and Markets Act 2000. YABA is an exempt

body for the purposes of arranging deals in investments under statutory instrument 1201 of

2001 as a non-profit making organisation.

Newsletter of the Yorkshire Association of Business Angels 7Spring 2011

Join us on YABA information: 01423 810149 www.yaba.org.uk

GapworkSpreading the word…

It was one of the earliest business angel investments,

made back in 2000 when YABA was in its infancy, and

more than a decade on Leeds-based Gapwork is

continuing to thrive.

Gapwork was formed in 1999 as an information portal for those

considering a gap year – covering everything from where to go and

what to do, to insurance and visas. The website attracts around

50,000 visitors a month and is firmly established as the ‘go-to’ site

for gap year information. Large companies such as Raleigh

International and BUNAC advertise their services and products on

the site, knowing that a large audience is guaranteed.

Since buying out their angel investors in 2004, Gapwork directors

Rebecca Jordan and Kirsty Collinson have expanded their

business into three strands through an umbrella company, PDC

Education Ltd.

As well as Gapwork, two more websites have been added to the

portfolio. Teaching Resources UK is the leading publisher of

resources for the personal development curriculum in the UK.

Subscribing schools can access fully-prepared lesson plans and

resources, including PowerPoint slides and video clips, to aid

delivery of citizenship, work-related learning and personal social

and health education (PSHE). “We’re operating in a niche market at

the moment but the plan is to branch out into other subject areas,

offering a pay-as-you-go service for all teachers,” says Rebecca.

“This will put us in direct competition with large publishers but

we’re confident that our material is easy to use, accessible and of

a very high quality.”

Their third website, Free Teaching Resources, contains exactly that:

resources written by charities, museums and other organisations

that are free to download for teachers to use across the curriculum.

PDC Education Ltd now employs 13 staff at its head office in Leeds

and also commissions teachers to write the resource material.

“Teaching Resources UK has passed the 0.5 million download

mark,” says Rebecca. “With a new payment process in place via

Paypal, we’re ready to expand the service to overseas schools.”

www.pdceducation.co.uk

www.teaching-resources-uk.com

www.gapwork.com

RetrogenixFlexibility pays off…

Having secured angel investment in

the summer of 2009, Retrogenix

has developed its cell microarray

technology and is working with its

first customers.

Three angel investors, including Mark

Woodward and Neil Ewin, invested

£150,000 in the company after initially

seeing a presentation about its

technology at Venturefest. The technology

provides drug companies with a means

to quickly and comprehensively

determine the full range of activities of

drug molecules, saving time and money

in the lengthy drug development process.

Directors Dr Jim Freeth and Jo Soden are

behind the development of the

technology at Retrogenix. Jim says that

the time and expertise provided by Neil

and Mark has been invaluable. “Of

course the investment was needed, but

what’s been particularly valuable are the

skills and experience Mark and Neil have

brought to the company. Jo and I are

scientists and it’s been great to have a

wider range of skills, knowledge and

experience to draw on.”

The Retrogenix business model has

changed somewhat over the past 18

months, from targeting solely companies

producing small molecule drugs to those

involved in antibody drug production.

Says Neil: “There was a significant

appetite for the technology in the

antibody drug market. We set off in one

direction but after we’d done some in-

depth market research, realised that we

needed to alter that direction, which

meant adapting both the business plan

and how the technology was being

developed.”

This flexibility has paid off. Retrogenix is

currently working with three companies

on collaborative projects, which are pilot,

or proof of concept, projects. “Once

these projects are complete and we have

successful data, these companies have

indicated they’d like to enter into a longer

term arrangement,” says Jim. “They will

also provide us with data which we can

use for marketing to a number of other

companies, so this really is a pivotal time

for the business.”

l-r Rebecca Jordan and Kirsty Collinson

l-r Mark Woodward, Jim Freeth, Phil Whaley

(Grant Thornton), Jo Soden, Neil Ewin

COMPANY UPDATES

Newsletter of the Yorkshire Association of Business Angels

YABA information: 01423 810149 www.yaba.org.uk

8 Spring 2011

Copy: Campus PR

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Design: Spiral

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Tel: 01937 844442

Yorkshire Association

of Business Angels

1 Hornbeam House

Hornbeam Park

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Harrogate HG2 8QT

Barbara Greaves,

Charlotte Atkinson

or Jordana Beattie

T: 01423 810149

E: admin@yaba.org.uk

W: www.yaba.org.uk

Contact us

If you want to know

more about YABA

or come to an

investment forum,

please get in touch.

Members of:

10 MayInvestment forum

Location: York

Time: 5.00pm

Hosted by The

Company of Merchant

Adventurers of the

City of York

17 MayAngel seminar

Location: Leeds

Time: 10.30am

Hosted by Sagars LLP

14 JuneInvestment forum

Location: Leeds

Time: 5.45pm

Hosted by Grant

Thornton

21 JuneAngel members’

social lunch

Location: tbc

Time: tbc

12 JulyInvestment forum

Location: Leeds

Time: 5.45pm

Hosted by Shine

Business Centre,

Harehills

Master classes will

resume in the autumn

in South Yorkshire.

We regularly update

our events online.

Go to www.yaba.org.uk

to find out more.

YABA runs a full and varied events

calendar each year – if you’re interested

in attending any of these events, please

contact us on 01423 810149, or email

our Communications and Events

Manager, Charlotte Atkinson at

charlotte@yaba.org.uk

Diary dates

www.twitter.com/yaba1995

New facesThe YABA associate membership continues to

grow – our most recent recruits are:

Grant Thorntonwww.grant-thornton.co.uk

Withers & Rogerswww.withersrogers.com

Irwin Mitchellwww.irwinmitchell.com

Atkinsons Consulting www.finance-mix.com

University of HullWoodend Creative Workspacewww.hull.ac.uk/cel

Sagarswww.sagars.co.uk

The Royal Bank of Scotlandwww.rbs.co.uk

Yorkshire Bankwww.ybonline.co.uk

Following the Chancellor’s budget

announcements, YABA will be

holding a seminar to discuss the

recent changes to the Enterprise

Investment Scheme and how

these will affect business angel

investors. The event is open to

current and prospective angel

members only and will be held

at Sagars LLP in Leeds on 17

May. For further details please

contact Charlotte Atkinson on

01423 810149 or email

charlotte@yaba.org.uk

EIS Seminar Sagars LLP, Leeds

10.30am – 1.30pm