PROSPECTUS DETAILS
Franchise only effective if participants have aggregate inclusive tour product sales of £135m.
The deal will run for five year until April 1 2004 with the option of extending it for a further five years.
The franchise board – including three appointed by UKLG- will have a 51% majority of the vote. Franchisees will have 34% with UKLG holding 15% of the vote.
UKLG investing £3.25m, £2.25m repayable by Advantage, over four years with a further £5m setting up a Shared Services Centre.
A franchisee will pay damages to the franchisor if it terminates the agreement before April 1 2004.
The Franchisee may sell its business with the benefits of the franchise provided the franchisor gives its consent