Messiah XXI Productions Limited, in line with the original proposal to the National Millennium Committee, has pledged a percentage of any net after tax profits to Irish charities.
On December 8, 1999 it was agreed in writing with the millennium committee that this amount will be 10% annually up to £700,000 – equivalent to the original award made to Messiah XXI Productions by the National Millennium Committee. Thereafter the promoters pledge to continue their support for Irish charities.
It was also agreed in writing by Messiah XXI Productions and the millennium committee that structures to give effect to this arrangement would be formulated. Discussions have subsequently taken place and a situation has been reached where contractual letters of agreement are being exchanged.
These letters specify that the amount to be donated to charities should be 10% annually of net after tax profits up to £700,000; that an audit should be carried out annually of the accounts of Messiah XXI Productions Ltd; that decisions on the Irish charities that may benefit from the donations should be agreed between the National Millennium Committee and Messiah XXI Productions Ltd., and that provision should be made for a continuation of the agreement after the term of the National Millennium Committee expires.