Visual Summary

(updated, March 2025)

For those who like their information presented graphically, here are two diagrams. The first shows the Redruth-Eden project using the figures and timescales given in the contractual Investors Presentation document. The second shows the project as actually conducted by Eden Land Planning Ltd. 

The Promise:

• 22 Investors raise a fund of £2.24m
• It is used to purchase land for £2.1m (total acquisition cost, £2.2m)
• ELP retains the unspent £40k for working capital
• The land is sold for £3.1m
• Investor profit, £584,500  ELP profit, £250,500
• As per Shareholders Agreement, ELP's profit is taken after completion of sale.

The Reality:

• 22 Investors raise a fund of £2.24m
• It is used to purchase land for £1.475m. ELP does not reveal the purchase price.
• The surplus funds of £661,750 are covertly transferred from Redruth Eden to ELP.
• ELP's appropriation of 30% of the equity breaches the Entire Agreement between the Parties. 
• The land is unsold after more than 6 years. The investors have had no returns.

Shareholders' Agreement, Schedule 3 states:

No Business Plan can be materially varied without Majority Shareholder Consent. Not only did Eden conduct a completely different project from the contractual Investors' Presentation version without seeking Shareholders' Consent, they did it covertly, never once mentioning the true purchase price or their appropriation of two-thirds of a million pounds of Investors' money.

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