John Fletcher died recently. By his will, he left the whole of his estate on trust for his widow, Ella, for life, remainder to their son, Peter. The trustees are Karen James (a nurse) and Martin Turner (a graphic designer). Both trustees were personal friends of John, and they are not being paid for their services as trustees. They have been told by the executors of the estate that they will receive 400,000 for the trust. Ella is aged 68 and is retired. Peter is aged 45, has never married, and works as an architect. You have received a letter from the trustees (Appendix B), seeking advice in relation to a proposed investment. Advise Karen and Martin.

M Turner 12 Ryhill Lane Lexport LX2 9HP [treat as dated] Dear [your name] I am writing on behalf of myself and Karen James. We are the trustees for a trust set up by John Fletcher. The beneficiaries are his widow, Ella and their son, Peter. Ella is retired and has no source of income beyond the state pension and whatever she receives from this trust fund. Peter has a good salary, but despite that, he never seems to have any spare cash. We have been told that we will receive 400,000 and we know we will need to invest this. Neither of us knows anything at all about investments. We were planning to invest the money in a range of listed public company shares. These will provide some income for Ella, as well as long term capital growth for Peter. However, we have recently spotted an article in Lexport Life (copy attached) and we are now wondering whether we should invest 50,000 in Plankton Foods Ltd. We are a bit nervous about investing in a private company, so thought we should check whether we can and should go ahead. Can you advise us on whether we should invest in Plankton Foods Ltd? Yours sincerely Martin Turner

Mirjam Nilsson Let them eat plankton New cohpany launches today Lexport sees another new company launch today, in the form of Plankton Foods Limited (PFL). Set up by local 'clean eating' enthusiasts, Plankton aims to develop new horticultural techniques, to produce microseaweed on an industrial scale. This is an incredibly ambitious plan, requiring the careful exploitation of existing horticultural practices, as well as the invention of specialist equipment. PFL believes that a market exists for micro seaweed, though the directors acknowledge that this is likely to be very niche. The company will also face significant challenges in establishing itself as a supplier to highend restaurants at a time when the industry is struggling. However, the directors are convinced If PFL have their way, this is what we'll all be eating in future. At least, if we're rich enough to dine at the Ritzl that, with an innovative and inspirational product, they can conquer the market. Mirjam Nilsson At the time of going to press, PFL has yet to secure funding from any of the major banks. However, Plankton Foods Limited the directors now appreciate that they need a full written business plan, if they are to secure a loan, The Idea and have started work on one. Incorporated just six weeks ago, PFL is the brainchild Unfortunately, current laws only permit mature - or should I say brainfood - of newlyweds, Holly seaweed to be harvested from the wild. That's Flake and Buster Hogg. where Buster comes in. Flake completed a two year diploma in catering last 'I specialised in aeroponics at College' says Hogg, year at Lexport Catering & Horticultural College, which is highly successful for growing micro- where she met her co-creator, Buster Hogg. They greens. No one has used it for seaweed yet, but I are now directors and shareholders of PFL. have a few ideas for how current technology can Says Flake: 'One of my optional modules was micro- be manipulated to allow us to grow seaweed gastronomy, which I soon realised is more about commercially and harvest it at the micro stage. smoke and mirrors (literally) than food on the plate.' A particularly big challenge will be keeping it fresh Flake explains that high-end restaurants pay big and juicy between harvest and [expensive] plate. money for small food, notably micro-greens so tiny Seaweed loses moisture very quickly once it has that they have to be applied to a dish with tweezers. been harvested', admits Hogg, 'and it doesn't Micro-greens, freshly harvested. 'There's money in the micro-market' claims Flake. respond well to any kind of cold storage. Most micro-greens are based on mustard, cress and The couple are now looking for investors to cover beetroot. However, based on her summer the costs of research and development, followed placement work, Flake thinks chefs would love to in a couple of years by premises and equipment. use seaweed, which brings a natural salty lemony My best guess is that we'll need an initial fund in flavour to dishes. excess of E800,000', says Flake. Lexport Festival of Lights More woe for the judges Ew, gross More toxic effluence leaks from the old Celebrating the return of spring in 24 Justice Athletic lose! Again! In style! Elwood Print Works. venues around the city