Why the SFN holds an auction
In 2006, when the certificates were issued, we added a code of conduct for all involved with the SFN in our prospectus. At that time we expected the SFN to be liquidated by 2018. However, due to new European guidelines, we had to alter our planning and liquidate in 2016.
Regardless of liquidation in 2016, we would still have offered SFN Zenith N.O.P for sale, because that was the agreement we made with Jeroen Dubbeldam after his incredible performances in Caen 2014. Immediately after the WEG of that year, we agreed to reject any and all interest for Zenith. We were able to afford this decision, because our prospectus places the sportive success above anything else and we believed Dubbeldam and Zenith were likely Olympic candidates.
Now that we have passed this point, it is time to put our investors’ return on investment first. We sincerely regret that this Olympic combination will be separated, just as we regret Wout Jan van der Schans will not proceed with Aquila SFN, but we have to abide by the rules we set out at the beginning.
We are now working on launching a second fund, SFN II. Around the world, the equestrian community is watching our fund with amazement, admiration and a little jealousy. The foundation of a healthy SFN II is not just reliant on the sportive successes of our horses. We also need a sound financial ending. It is our sincere hope we cannot only repay our investors their initial investment, but also a little bit extra. That would lay out a most solid foundation for SFN II.
Show jumping horses are not valued like cars. We have always strived for the maximum amount of openness and transparency. This is why we have chosen an Internet auction, so no-one will be able to claim afterwards someone would have liked to bid more. It will also make evident we could not have had any influence on the bidders or bidding. The buyer will be the highest bidder, so that we can give our investors a maximum return on investment.
We owe our gratitude to our certificate owners for their continuous support and belief in the SFN. Many were not willing or able at the time to make an investment. So for all of us who do not have the funds to purchase Zenith, it might be a good time to invest in the SFN II. This will make you part owner of the successors of incredible horses like Zenith, Aquila or any of the successful horses we own or have owned in the past.
For more information, please visit www.sfnacution.com.
Henk Rottinghuis, Chair of the board
Jacob Melissen, SFN Director SFN