Chance to help fund

Press, 30 August 1980, Page 6

Chance to help fund

Christchurch people will still have the chance to contribute to the fund to buy the Theatre Royal even if they do not have a spare $lO,OOO. Most of the $175,000 needed to buy the theatre has been collected in $lO,OOO subscriptions from companies and individuals. But Mr Malcolm Douglass, a member of the group which has worked to save the theatre, said that 10 lots of $lOOO were being

kept aside for people who wanted to subscribe but could not afford the larger amount.

Subscribers to the theatre, who will be shareholders in the Theatre Royal Charitable Foundation, Ltd, will eventually get their money back when the theatre starts to make a profit. Mr Douglass said the fund to buy the theatre was still $.30,000 short of its target. It was hoped that a further two $lO,OOO subscribers would be

found, and the 10 lots of $lOOO would make the difference. There were continuing developments in funding, but if the final amount could not be found a Christchurch citizens had offered bridging finance. The settlement date for the theatre is in about two weeks. -

Anybody interested in subscribing to the company may call Mr Douglass, telephone 69-871, or Mr C. M. Robertson, telephone 792-120.