T&G launches nursery EIS

Teather & Greenwood Investment Management has launched an Enterprise Investment Scheme (EIS) which will build and operate children's day nurseries. Childcare Corporation 5 plc will seek to raise in the region of £10m to be used to construct and administer around 10 new nurseries. The company's business plan also involves buying an existing nursery while suitable construction sites are found for the new nurseries to ensure the prompt commencement of EIS qualifying trade. To raise finance the company will issue 10 million ordinary shares at £1 per share. The minimum investment is £2,00...