WINDMILL BLOODSTOCK EIS

January 2018 WINDMILL BLOODSTOCK EIS LIMITED

DIRECTORS: FIONA MARNER, LIONEL GODFREY

Windmill Bloodstock EIS Limited (formerly Windmill Farm Partnership) is a small friendly bloodstock breeding operati on that trades under the Government’s Enterprise Investment Scheme (EIS). These schemes are designed to encourage investments in small unquoted companies carrying on a qualifying trade in the United Kingdom and they off er private individuals very att racti ve tax relief benefi ts. The company was formed in 2012 and has 24 initi al shareholders investi ng a minimum of £20,000 each. We are now reopening for new investment which, HMRC have confi rmed, will sti ll qualify for EIS tax relief.

Our strategy from the outset, was to trade at the upper end of the bloodstock market which is less suscepti ble to short term economic shocks and gives the opportunity for higher profi t margins.

Our three mares are of the highest quality and fully meet our ‘top end’ criteria. They have exciti ng pedigrees and have achieved consistently sati sfactory results with their progeny at the sales and on the racecourse. The objecti ve of this fundraising is to enable us to purchase one or two more of the same, as we believe that a minimum of four or fi ve mares are needed to spread the risk and run a profi table business.

Windmill Bloodstock EIS gives shareholders a wonderful opportunity to parti cipate in the fascinati ng world of bloodstock at an aff ordable level of investment. Share our dreams and successes...

1 We are a small group of enthusiasts who enjoy the level of involvement that is THE ENTERPRISE INVESTMENT SCHEME possible from this size of operation. We hold an annual meeting at Windmill Stud, The Enterprise Investment Scheme (EIS) has existed in various forms where the mares and foals are boarded, to view the horses and discuss plans. since 1994. In its present form, the possible reliefs and benefits are more Shareholders are always welcome to visit the stud at any time. extensive than ever. What benefits does the Enterprise Investment Scheme provide the investor? We also organise visits at home and abroad to top studs, bloodstock sales and race • Income tax relief at 30% on the amount invested in qualifying investments meetings when we have an interest. Whilst we are obviously aiming to make a of up to £1,000,000 per annum. The EIS relief may be withdrawn if certain profit, we feel that the fun and participation are also important. events occur within three years, e.g. shares sold. New investors are invited to apply for £1 shares in Windmill Bloodstock EIS Limited, • An individual may carry-back all or part of current year EIS investments to with a minimum investment of £20,000. You may apply jointly with another person. the previous tax year, provided that the limit in the previous year is not The immediate income tax relief on any investment under EIS rules is 30%, and it exceeded. is also possible to defer capital gains tax payable on the sale of other assets at a • Any gain arising on a disposal of the shares after three or more years to be rate of up to 28%. Provided there has been no breach of EIS rules, any gain realised free from capital gains tax. after three or more years will be tax free and any realised losses may be offset • Deferral of capital gains (no limit) on any other assets, by reinvesting all or against income at your marginal rate of tax. After at least two years of ownership part of the gain into an EIS company within one year before, or three years the shares will qualify for business property relief and so will be exempt from after, the gain accrued. The deferred gain becomes chargeable to capital inheritance tax. gains tax if the EIS company shares are sold or on the occurrence of certain other events. The Government announced in the latest Budget, that there will be changes to the • Gains realised on or after 3 December 2014 which qualified for EIS in the Finance Act, but they will not affect bloodstock because it is not risk free. Entrepreneurs’ Relief may be reinvested under EIS and will still remain HMRC have confirmed that provided our new shares are issued before they will eligible for Entrepreneurs’ Relief when the deferred gain is revived. receive EIS benefits as they currently stand. This offer for subscription will close on • An investor cannot be “connected” with the EIS company, i.e. he or she Wednesday 28th March 2018. together with associates such as a spouse or close relative cannot own more than 30% of the shares, directly or indirectly. An employee or paid director If you require any further information, please contact Fiona Marner at Windmill of the company is also connected, subject to certain exceptions for directors. Stud. As with any financial investment, you should seek professional advice if you • Relief for any losses made on the disposal of EIS shares can be offset against have any concerns regarding this offer. capital gains tax or, in some circumstances, income tax. As a result of the above, an individual could have a total income tax saving of up to 61.5% of their investment if it fails completely. Bernard Harrington FCA – Chartered Accountant

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Northern Dancer Sadler's Wells(USA) Fairy Bridge (USA) Galileo (IRE) Miswaki (USA) BLOODSTOCK PORTFOLIO - January 2018 GAZE (GB) Urban Sea (USA) Allegretta (2003) (USA) A Bay Mare Shirley Heights Hardiemma Gryada (GB) Windwurf (GER) MARES - DOB Sire Dam In Foal - LSD (1993) Grimpola (GER) Gondel (GER) Gaze 2003 Galileo Gryada Rested GAZE (GB), 98,000 gns. mare, won 2 races in Germany and placed 4 times (William Jarvis). Dam of five winners, from 6 runners and 6 foals of racing age: Ninas Rainbow 2008 Rainbow Quest Next Gina Iff raaj - 22.05.17 2009 BRIDGEHAMPTON (GB) (g. by (GER)), 92,000 gns. yearling-Kern/Lillingston Ass, won 6 races at home and abroad and £42,863 and placed 9 Salonmare 2013 Manduro Salonblue Lawman - 05.04.17 times (M. Bell). 2010 GREATWOOD (GB) (g. by Manduro (GER)), 85,000 gns. yearling - John Warren BS, 180,000 gns. Horses-in-Training Sale 2013 - McKeever BS, won 3 races at 2, 4 and 5 years at home and in Australia and 3-YEAR-OLD Sire Dam Grandsire £141,616 including Parramatta Cup, Rosehill, L. and Premier's Cup, Rosehill, L., second in Noel Murless Stakes, Ascot, L. rated 104) (L. Cumani and Gai Waterhouse). Gemini 2015 Makfi Gaze Galileo 2011 GANYMEDE (GB) (g. by OasisDream(GB)), 160,000 gns.foal, won4races at 3to 4 years and placed once; also won 1 race over hurdles at 5 Leased for racing. Trainer: Charlie Hills, Lambourn years, 2016; (E. Johnson Houghton/A. Hales). 2013 MUSAANADA (GB) (f. by Sea The Stars (IRE)), 235,000 gns. foal -Shadwell Estate Company, won 2 races at 3 years, 2016, all her starts (W. Haggas). YEARLINGS 2014 SWING VALLEY (GB) (f. by Lawman (FR)), 100,000 gns. foal -Meridian International, won 1 race at 3 years, 2017 in France and £16,210 and Bay Filly - 05.05.17 Golden Horn Gaze Galileo placed 5 times (D. Guillemin). 2015 Gemini (GB) (f. by Makfi (GB)), ran once at 2 years, 2017 (C. Hills). Bay colt - 27.04.17 Moti vator Ninas Rainbow Rainbow Quest 2016(c. by Dansili (GB)), 100,000 gnsyearling, foaled April 14th (M. Johnston). 2017 (f. by Golden Horn (GB)),foaled May 5th. 2018rested.

STALLIONS 1st Dam Gryada (GB), won 2 races at 2 years and £18,087 placed third in Premio Dormello, Milan, Gr.3 (rated Lawman - 50% of 1 share Invincible Spirt Laramie Gulch 103) (W.Jarvis); Own sister to Golan Heights; dam of ten winners from 10 runners and 11 living foals of racing age including- Cityscape - Breeding right Selkirk Tanti na Distant View FAME AND GLORY (GB) (c. by Montjeu (IRE)), 190,000 gns. foal – T. Hyde, won 14 races at 2 to 6 years at home and in France and £2,314,120 including Ascot Gold Cup, Gr.1, Tattersalls Gold Cup, Curragh, Gr.1, Coronation Cup, Epsom, Gr.1, Irish Derby, Curragh, Gr.1, Criterium de Saint-Cloud, Gr.1, second in Derby Stakes, Epsom, Gr.1 (rated 129) (A.P. O’Brien); sire. Grampian (GB) (c. by Selkirk (USA)), 200,000 gns. yearling – Mrs. A. Skiffington, won 4 races at 2, 3 and 6 years and £102,691, second in July Stakes, Haydock Park, L., J (rated 105) (J. Given). YUMMY MUMMY (GB), 460,000 gns. mare - John Warren BS, won 1 race; dam of 4 winners. LEGATISSIMO (IRE) (f. by Danehill Dancer (IRE)), 350,000 gns. yearling Tattersalls October (Book 1) - MV Magnier, Champion 3yr old filly in England in 2015, 5 races at 2 and 3 years, £1,123,354 including Nassau Stakes, Gr.1, 1000 Guineas, Gr.1, Matron Stakes, Gr.1, second in Oaks Stakes, Gr.1, Breeders' Cup Filly/Mare Turf, Gr.1 (rated 117) (D. Wachman). SMOULDER (GB), 725,000 gns. yearling Tattersalls October (Book 1) - MV Magnier, 1 race at 3 years, 2017 and £10,608 and placed twice (rated 93) (A.P. O’Brien). Guaranda (GB) (f. by (GER)), 250,000 gns. mare - C Gordon-Watson BS, won 2 races at 3 years, placed twice including third in EBF Upavon Stakes, Salisbury, L.; dam of 3 winners. GRAVITATION (GB) (f. by Galileo (IRE)), 2 races including Lillie Langtry Stakes, Gr.3 (rated 108) (W. Jarvis); dam of Gibeon (IRE) (c. by Cape Cross (IRE)), 2 races, third in August Stakes, L. (rated 105) (R. Hannon), Gemina (IRE) (f. by Holy Roman Emperor (IRE)), 1 race at 2 years, 2016, second in EBF Stonehenge Stakes, L., (rated 89) (R. Beckett). Good Harmony (GB), unraced; dam of GOOD DONNA (GER) (f. by Doyen (IRE)), 3 races at 3 years in Germany including G.P. der Mehl-Mulhens Herbst Stutenpreis, Hannover, Gr.3.

2nd Dam GRIMPOLA (GER), won 2 races in West Germany including ARAG Schwarzgold-Rennen (1000 Guineas), Dusseldorf, Gr.2; Own sister to GRIMBEAU (GER); dam of five winners including- Gonfalon (GB), unraced; dam of winners. GONBARDA (GER), 5 races including Preis von Europa, Gr.1; dam of (GB), Champion older miler in Europe in 2013, Jt Champion older horse in Europe in 2013 (9.5-10.5f.), won Champion Stakes, Gr.1 (rated 124 in France) (S. bin Suroor); sire.

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Blushing Groom Red God Konigsstuhl (GER) Monsun (GER) Rainbow Quest (FR) Runaway Bride Mosella (GER) Manduro (GER) NINAS RAINBOW (USA) Herbager SALONMARE Be My Guest (USA) IWill Follow (USA) Mandellicht (IRE) (GB) Where You Lead (USA) (GER) Mandelauge (GER) (2008) Danzig (USA) (2013) StormBird (CAN) Perugino (USA) Bluebird (USA) A Bay Mare Next Gina (GER) Fairy Bridge (USA) AChesnut Mare Salonblue (IRE) Ivory Dawn (USA) (2000) Night Petticoat Petoski (1998) Tirol Salonrolle (IRE) (GER) Nightrockette (GER) Salesiana (GER) Covered by IFFRAAJ (GB). Last Service May 22nd. Covered by LAWMAN (FR). Last Service April 5th.

NINAS RAINBOW (GB), won 1 race in Germany and placed 3 times; SALONMARE (GER), €100,000 foal - Sheamus Mills BS, won 1 race at 3 years, 2016 in Germany; Dam of one winner, from 2 runners and 2 foals of racing age: 2014 NORMANDIE (GER) (f. by Redoute's Choice (AUS)), €90,000 foal -Meridian Int, 1st Dam €130,000 yearling - Meridian Int., won 1 race at 2 years, SALONBLUE (IRE), won 3 races at 3 years in Germany and £36,321 including Baden-Baden Cup, L. 2016 in France (rated 99 in France) (Mme P. Brandt). and Korver-Rennen Dortmunder Stutenpreis, Dortmund, L., second in Lotto Hessen Pokal, Frankfurt, 2015Night of England (GB)(f. by Lord of England (GER)), placed twice at 2 years, 2017 in Gr.3, (rated 104) (A.Schütz); Germany,from only 2 starts (H. Grewe). dam of five winners from 7 runners and 9 foals of racing age including- 2016(c. by Lawman (FR)), 52,000 gns. foal -Meridian International, MONBLUE (GB) (f. by Monsun (GER)), €400,000 mare - Belmont BS, won 4 races at 2 to 4 years in 65,000 gnsyearling –James Toller, foaled April 7th. Italy and £110,190 including Premio Tadolina Memorial Patrizio Galli, Rome, L., second in 2017 (c.by Motivator (GB)), foaled April 27th. Premio Alberto Zanoletti di Rozzano, Milan, L., Premio Baggio, Milan, L., Premio Giovanni Falck, Milan, L. (rated 106 in Italy) (B. Grizzetti and A. Royer Dupre); broodmare. 1st Dam SALON SOLDIER (GER) (c. by Soldier Hollow (GB)), won 4 races in Australia, Germany including NEXT GINA (GER), Jt Champion 3yr old filly in Germany in 2003, won 3 races at 3 and 4 Melbourne Cup Day Plate, L., second in Grand Prix-Aufgalopp, L., third in Grosser years in Germany and £160,117 including Diana Deutsches Stuten Derby, Mulheim, Gr.1, second in Sparkassenpreis Dusseldorf, Gr.3 (rated 94 in Germany) (P. Schiergen/K. A. Lees). Preis der Jungheinrich Gabstapler, Hamburg, Gr.3 (rated 109 in Germany) (A.Schütz); Sommernachtstraum (GER) (g. by Shirocco (GER)), won 4 races in Australia, in France and in dam of two winners from 3 runners and 3 foals of racing age including- Germany, second in Iffezheimer Derby-Trial, Baden-Baden, L. (rated 89 in Germany). NINA CELEBRE (IRE) (f. by Peintre Celebre (USA)), won 4 races at 2 to 4 years in Germany and Saloon Rum (GER), placed twice in Germany; dam of 3 winners. £40,331 including Preis der Peter Deilmann Reederei, Baden-Baden, L. and Grosser Canon- Saloon Sold (GER) (f. by Soldier Hollow (GB)), €40,000 yearling - Horst Putwill, 2 races at 2 Preis-Limitierter Int., Munich, L. (rated 92 in Germany) (P.Schiergen); dam of 2 winners viz- and 3 years, 2017 in Germany, £43,186, third in Preis Medienhauses Winterkonigin Trial, L. Ninas Shadow (GER) (g. by Shamardal (USA)), (racing in Hong Kong as Pakistan Star), ), SALOONMEDICUS (GER), 3 races at 3 and 4 years, 2017 in Germany and placed twice. €180,000 yearling - Hong Kong Jockey Club, 3 races at 3 years, 2016 in Hong Kong, Salon Law (GER) (2016 f. by Lawman (FR)). £1,425,178, second in Queen Elizabeth II Cup, Gr.1, Hong Kong Derby, L. (T. Cruz). Ninas Terz (GER) (f. by Tertullian (USA)), €120,000 mare - Kern/Lillingston BS, 1 race at 2 2nd Dam years in Germany, placed second in Henkel Stutenpreis, Dusseldorf, L. and third in GP Salonrolle (IRE), won 2 races at 2 years in Germany and placed twice including third in ARAG Preis Landschaftlichen Brandkasse Neue Cup, Hannover, L. (rated 88 in Germany) (P.Schiergen). (1000 Guineas), Dusseldorf, Gr.2 (rated 87 in Germany); dam of nine winners from 9 runners and 9 foals of racing age including- 2nd Dam PEPPERTREE LANE (IRE) (g. by Peintre Celebre (USA)), won 9 races at 3 to 5 years and NIGHT PETTICOAT (GER), won 3 races at 2 and 3 years in Germany and £134,926 including Preis £254,260 including Curragh Cup, Gr.3, Aston Park Stakes, Newbury, L. second in Sagaro der Diana - Deutsches Stuten Derby, Mulheim, Gr.2 and Diana Trial/Las Vegas-Slenderella Rennen, Stakes, Ascot, Gr.3, Grosser Preis von DSW21-St Leger, Dortmund, Gr.3, (rated 110). Mulheim, L., placed second in BMW St Leger, Dortmund, Gr.2 (rated 110 in Germany) (B.Schütz); SALONHONOR (GER) (c. by Highest Honor (FR)), won 7 races in Germany and in Hong Kong and dam of eight winners from 9 runners and 9 foals of racing age including- £285,194 including Grosser Radeberger Pilsner Preis, Dresden, L., placed 13 times including NEXT DESERT (IRE) (c. by Desert Style (IRE)), 4th top rated 2yr old colt in Germany in second in Volkswagen Preis der Deutschen Einheit, Hoppegarten, Gr.3 (rated 104 in Germany). 2001, Champion 3yr old in Germany in 2002, won 5 races in Germany and £333,598 Salon Turtle (GER) (c. by Turtle Island (IRE)), won 7 races in France and in Germany and £55,174 including BMW Deutsches Derby, Hamburg, Gr.1, Oppenheim Union-Rennen, Cologne, Gr.2, and placed 17 times including second in Prix Tantieme, Saint-Cloud, L. (rated 98 in France). second in Credit Suisse Private Banking Pokal, Gr.1 (rated 120 in Germany) (A.Schütz); sire. SALONTASCHE (GER), won 2 races at 3 years in Germany; dam of winners. Next Vision (IRE) (c. by Rock of Gibraltar (IRE)), won 4 races at 4 and 5 years in Germany and SAPHIR (GER), 3 races at 3 and 5 years in Germany and £57,013 including onextwo.com £50,292, second in Preis des Winterfavoriten, Cologne, Gr.3, Junioren Preis, Dusseldorf, L. Bavarian Classic, Munich, Gr.3, placed 4 times (rated 110). Next Holy (IRE) (f. by Holy Roman Emperor (IRE)), won 2 races at 3 and 4 years in Germany and SARANDIA (GER), won Preis der Badener Hotellerie/Gastronomie, L., G. P. Jungheinrich £10,277 and placed twice including third in racebets.com - Diana-Trial, Dusseldorf, L. Gabelstapler Neue Cup, Hannover, L., second in Preis der Diana, Dusseldorf, Gr.1. Next Style (IRE) (c. by Desert Style (IRE)), won 1 race, second in Junioren Preis, Dusseldorf, L. SAINT PELLERIN (GER), won Criterium du Fonds Europeen de L'Elevage, Deauville, L. and Next Green (GER) (f. by Green Desert (USA)), won 1 race, second in Winterkonigin Trial, L. second in Prix des Chenes, Longchamp, Gr.3. Salontanzerin (GER), 5 races in Germany, second in Prix Belle de Nuit, Deauville, L. 3rd Dam NIGHTROCKETTE (GER), won 3 races at 3 and 4 years in West Germany and placed 3 times; 3rd Dam dam of nine winners from 9 runners and 9 foals of racing age including- SALESIANA (GER), won 3 races in West Germany and placed twice; NIGHTDANCE (GER), won 2 races in Germany including Grosser Stutenpreis der EKB Dusseldorf, dam of seven winners from 8 runners and 10 foals of racing age including- Krefeld, L., third in P. der Stadtsparkasse Hannover & VGH, Hannover, Gr.3; dam of winners. SONNENKRANICH (GER), won 7 races at 2 to 5 years in West Germany including Rudolf Oetker- NIGHTDANCE FOREST (IRE), won Grosser Preis der Stadtsparkasse, Dusseldorf, L. Rennen, Krefeld, L., placed third in Zukunfts-Rennen, Baden-Baden, Gr.2. NIGHT YEAR (IRE), won 2 races at 3 years in Germany and placed twice; dam of winners. Salonrolle (IRE), see above. NEAR HONOR (GER), won Sachsenpreis, Dresden, L., third in Deutsches Derby, Gr.1; sire. SAITE (GER), won 3 races at 3 and 4 years in West Germany; dam of winners. Near Galante (GER), 1 race in Germany, second in Henkel Trial, Dusseldorf, L.; dam of NEAR SALDE (GER), won Dortmunder Stutenpreis, Dortmund, L.; dam of SALDENSCHWINGE ENGLAND (IRE), won Grosser Preis Von DSW21 St Leger, Gr.3, (rated 93 in Germany). (GER), 5 races in Germany including Deutscher Stutenpreis, Hannover, Gr.3, NIGHT TEENY (GB), won 1 race at 3 years in Germany and placed 3 times; dam of winners. SALDENTIGERIN (GER), Champion 3yr old filly in Germany in 2004, 3 races in NIGHT OF MAGIC (IRE), 1 race in Italy viz Oaks d'Italia, Milan, Gr.2; dam of Germany including Baden-Wurttemberg-Trophy, Gr.3, second in Preis von Europa, Gr.1; NIGHTFLOWER (IRE), Champion 3yr old filly in Germany in 2015, Champion grandam of SALOMINA (GER), Champion 3yr old filly in Germany in 2012, 4 older mare in Germany in 2016, 3 races at 3 and 4 years, 2016 in Germany viz Preis races in Germany including Preis der Diana, Dusseldorf, Gr.1, SERIENHOLDE (GER), von Europa, Gr.1 (twice), second in Grosser Preis von Baden, Gr.1 (twice) (rated 115). Champion 3yr old filly in Germany in 2016, 3 races at 3 years, 2016 in Germany Neele (IRE), 2 races in Germany, second in Fahrhofer Stutenpreis, Hamburg, Gr.3; dam of including Henkel Preis der Diana, Dusseldorf, Gr.1, SERIENHOEHE (IRE), 3 races in NYMPHEA (IRE), won Grosser Preis von Berlin, Gr.1, NUTAN (IRE), Champion 3yr Germany including Maurice Lacroix-Trophy, Baden-Baden, Gr.3, SALUT (GER), won Preis old colt in Germany in 2015, won Deutsches Derby, Hamburg, Gr.1. des Casino Baden-Baden, Baden-Baden, L., second in Premio St Leger Italiano, Milan, Gr.3. 6 7 Salonmare 2013 by Manduro ex Salonbleu Windmill Stud in 2015

Ninas Rainbow and 2017 colt by Motivator at 3 weeks old 2017 Filly by Golden Horn ex Gaze at 2 weeks old

8 WINDMILL BLOODSTOCK EIS LIMITED WINDMILL STUD LAMBOURN WOODLANDS HUNGERFORD BERKSHIRE RG17 7BN

EMAIL: [email protected] WEBSITE: WWW.FIONAMARNER.COM TELEPHONE +44 (0) 1488 72201 MOBILE: +44 (0)7836 553000