Exit
year 8
price
independent appraisal
lockup
12 months
Although the primary objective is to generate strong cash flow, we do want to slowly build the business up for sale.
An ideal exit is on or before Lease expiry in 2032 before a major capital outlay, which gives the business a clear beginning / middle / end. The target sale price being subject to professional independent advise and shareholder approval. First option going to existing investors if some wanted to stay on.
If investors need to exit earlier for whatever reason, lockup period is 12 months and first option (3 months) goes to existing investors on a pro-rata basis. The sale price is determined by a professional independent appraisal. After the grace period the shares can be put up for sale on the open market at price determined at their discretion.