ONEWAY RSM RACING CLUB

ONEWAY and RSM Robson Rhodes are proud to launch a brand new Racing Club. Membership of the Club, officially launched on 1 December 2006, is open to anyone and everyone.

Initially, the Club will enjoy the benefit of two horses from ONEWAY, one, a gelding to go jumping through the winter months and another, a yearling filly for flat racing through the summer months. ONEWAY will guarantee two horses in training during the first year and when the Club reaches 100 members another horse will be purchased for the Club members. An additional horse will be added for every 50 new members that join.

To start with the Club will race:

BOLD DIKTATOR (4 year old)

He is an exciting prospect for national hunt racing this winter. A winner of four races on the flat, he will start his hurdling career in December or January and has the size and scope to go on and become a steeplechaser in the autumn of 2007.

UNNAMED FILLY (Expected to be named Tick and Bash)

This strong yearling filly is by Xaar who was champion 2 year old and 3 year old in Europe and a dual Group 1 winner from 6 furlongs to 1 mile. Her dam Quintellina, also a winner as a 2 year old, has already bred four winners from five foals and they have amassed £135,000 in prize money between them.

Benefits of Club membership will include:

· An equal share of all prize money earned by both horses (see rules)
· A monthly newsletter (via email only)
· A certificate of Club membership
· Tours of ONEWAY
· Year round days at the races
· Pictures of Club horses
· A ballot for 10 free owners badges each time the Club has a runner (additional badges at a discount)
· Absolutely no additional expense.

Pricing of Club membership:

To Join the ONEWAY RSM RACING CLUB will cost £500. This is a one off payment as a joining on fee. Members can join at any time of the year and prize money will be shared equally amongst members for each 12 month period. There will also be a monthly standing order charge of £40 which will enable the Club to purchase new horses with the arrival of new members.


Cash back:

If you are an existing member of the Club and you recommend a friend to join in the fun, then the Club will reimburse you that month’s £40 monthly payment. By introducing a new member every month you could enjoy all the fun for just £500 in the first year and, in doing so, help to add horses to the Club.

VAT and sponsorship
Initially the cost of Club membership will not attract VAT but as the Club grows in size the joining fee and monthly subscription may be subject to VAT.

The cost of VAT charged on training fees and all other expenses as well as the VAT on the purchase price of the Club’s horses can be recovered and therefore not be a cost that either ONEWAY or the Club has to bear provided the Club’s horses are sponsored. RSM Robson Rhodes, chartered accountants, has very kindly agreed to sponsor the Club’s horses. RSM Robson Rhodes will pay the Club a sponsorship fee each time the Club has a runner with an additional payment to recognise winners and placed horses. Sponsorship fees will be added to prize-money for distribution to members.

Rules
The Club’s horses will be owned by ONEWAY and will be registered in the names of Tom and Bill Dascombe. All profits or losses arising on the disposal of the Club’s horses will be for the account of ONEWAY who will ensure that the Club has the benefit of at least two horses during a 12 month period. Horses will run in the name of ONEWAY RSM Racing Club and will carry the colours of ONEWAY which are red, white and blue.

A person becomes a Club member on payment of a joining fee of £500 and the completion of a standing order mandate for £40 per month, (both possibly subject to VAT at a later date), starting in the month of joining. A membership certificate will be issued.

A referral fee of £40 will be made to any member who successfully introduces a new member at any time.

To qualify for a share in any prize money or sponsorship fees a member must have completed 12 months membership of the Club (from the first day of the month following that in which they joined) and paid the joining fee and 12 months subscriptions. The member will share in the prize money and sponsorship fees earned by the Club between those two dates on a pro-rata basis. For example suppose there are 20 members who joined by 1 December, 30 by 1 January, 40 by 1 February and 50 in each month thereafter. A member who joined by 1 December 2006 would be entitled to a share of prize money and sponsorship fee in the year to 30 November 2007 of one twentieth of December 2006 monies, one thirtieth of January’s, one fortieth of February’s etc. etc.

The monthly newsletter will be distributed by email only and will show the number of members at the beginning of each month.