BA International Horseracing Business

International Horseracing Business (with Foundation Year)

BA (Hons)

Study horseracing business with practising industry professionals and gain the experience you need to succeed in the global racing business.

The international horseracing industry is growing, especially in the UK, Dubai, Japan, Hong Kong, the US and Australia, and there is a range of exciting global career opportunities. This degree has been designed to prepare you to enter the industry. You’ll develop strong practical knowledge and experience, whilst making valuable contacts for your dream career.

Key Information

Course Duration: 4 or 5 years full time; part-time available
UC UCAS Code: DFN2
Part or Full Time: Full Time / Part Time
Level of Study: Foundation Year Degrees
Placement Year: Optional
Typical Offer: 32-48 UCAS tariff points or equivalent

The foundation year entry provides an alternative route into degree-level study. It’s ideal for those who need to develop their knowledge and skills in order to progress to the full BA qualification.

Alongside core business and racing topics, you’ll be able to tailor your degree to suit your interests and career goals. You’ll have the opportunity to delve deeper into fundamental areas of international horseracing business including hospitality, marketing, sponsorship and media. You’ll also be able to study the equine management side of the commercial racing world, developing your expertise whilst gaining practical and professional experience to enhance your CV.

Throughout the course, you’ll make valuable connections that can open the doors to a range of exciting work experience and graduate employment opportunities. You’ll also have opportunities to visit horseracing yards and racecourses across the UK and further afield, which will give you valuable insights ready for your career. Live business briefs, field trips and work experience will strengthen your understanding of the global racing world.

  • UCAS | A typical offer for this course is 32-48 UCAS tariff points or equivalent.  
  • GCSE | A minimum of five GCSEs at grade 9 to 4, (or A* to C grades if relevant) or equivalent, to include English Language and Mathematics.
  • A-level | Typical offer is EE-DD or equivalent. This must include a minimum of one A-level. 
  • Vocational Award | Typical offer is a PPP in an Extended Diploma or equivalent in a relevant subject.  
  • Access | Typical offer is 32-48 UCAS tariff points in an Access to Higher Education Diploma. 
  • Scottish Highers | Typical offer is 32-48 UCAS tariff points in Scottish Highers. This must include a minimum of one Advanced Higher. 

We welcome students with equivalent qualifications. Please contact us to discuss.

We may interview mature applicants and those with non-traditional qualifications to ensure this is the right course for you.

Previous learning towards a university-level qualification or relevant work experience may count as credit for this course.

Please contact us for further information.

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Your career

Industry opportunities on this course are diverse to ensure you develop the skills, experience and connections needed for your graduate career. Many of our students secure graduate roles with their work placement employers.

Work placements and experience

These form part of compulsory modules, alongside an optional integrated placement year. We’ll support you to secure a placement with a UK-based or international employer, to match your interests and career goals. Placements can be paid or unpaid, depending on the position. Previous students have used these opportunities to explore new areas of the racing industry, as well as to further their understanding of a racing yard.

Our county of Gloucestershire is renowned for horseracing and hosts one of the world’s most prestigious annual race meetings – the Cheltenham Festival. The county is home to some of the world’s most prestigious racehorse trainers and racing facilities, which we make good use of to facilitate realworld learning.

Our students gain experience with many of these organisations, as well as through our partnerships with key governing bodies including the British Horseracing Authority. They also work at racecourses across the UK and organisations such as the Thoroughbred Breeders’ Association.

Guest lecturers and field trips

Industry professionals form an important part of your learning, enabling you to experience different businesses and careers. A wide range of speakers from across various aspects of the racing industry will feature throughout your programme to ensure you gain a full understanding of the breadth of opportunities within racing, and how industry stakeholders work together. You’ll also make valuable industry connections, in preparation for your career.

Graduate destinations

Several of our graduates from equine programmes have gone on to forge successful careers within the horseracing industry. One has even gone on to become the UK’s youngest racehorse trainer. Roles include:

  • Marketing manager, Thirsk and York racecourses
  • Graduate Scheme, British Horseracing Authority
  • Graduate Scheme, Jockey Club Racecourses
  • Irish National Stud
Success Stories

Your support network

You'll benefit from a strong support network from day one to be the best you can be. This will range from your personal tutor and specialist academic support team (our Achievement and Success Centre) to dedicated wellbeing and employability (Innovation, Careers and Enterprise) centres.

Academic support

You’ll have your own personal tutor while you’re here who will support you to succeed in your studies. You’ll also have access to our academic and wellbeing support teams who run regular workshops and one-to-one sessions on campus and online.

Alongside this, we have a comprehensive bank of online study skills resources to help you make the most of your qualification.

Your learning experiences

You'll experience a range of teaching methods to strengthen your digestion of topics, including lectures, workshops and practical sessions, as well as supported work placement learning as part of many courses.

Your career

Each year of your course will be made up of two semesters, within which you’ll study compulsory and optional modules on different industry-focused topics, enabling you to develop your own unique portfolio of knowledge, skills and experience, ready for your career. The course is taught in English.

Course information

Overview

The foundation year entry provides an alternative route into degree-level study. It’s ideal for those who need to develop their knowledge and skills in order to progress to the full BA qualification.

Alongside core business and racing topics, you’ll be able to tailor your degree to suit your interests and career goals. You’ll have the opportunity to delve deeper into fundamental areas of international horseracing business including hospitality, marketing, sponsorship and media. You’ll also be able to study the equine management side of the commercial racing world, developing your expertise whilst gaining practical and professional experience to enhance your CV.

Throughout the course, you’ll make valuable connections that can open the doors to a range of exciting work experience and graduate employment opportunities. You’ll also have opportunities to visit horseracing yards and racecourses across the UK and further afield, which will give you valuable insights ready for your career. Live business briefs, field trips and work experience will strengthen your understanding of the global racing world.

Entry requirements

  • UCAS | A typical offer for this course is 32-48 UCAS tariff points or equivalent.  
  • GCSE | A minimum of five GCSEs at grade 9 to 4, (or A* to C grades if relevant) or equivalent, to include English Language and Mathematics.
  • A-level | Typical offer is EE-DD or equivalent. This must include a minimum of one A-level. 
  • Vocational Award | Typical offer is a PPP in an Extended Diploma or equivalent in a relevant subject.  
  • Access | Typical offer is 32-48 UCAS tariff points in an Access to Higher Education Diploma. 
  • Scottish Highers | Typical offer is 32-48 UCAS tariff points in Scottish Highers. This must include a minimum of one Advanced Higher. 

We welcome students with equivalent qualifications. Please contact us to discuss.

We may interview mature applicants and those with non-traditional qualifications to ensure this is the right course for you.

Previous learning towards a university-level qualification or relevant work experience may count as credit for this course.

Please contact us for further information.

Employability

Your career

Industry opportunities on this course are diverse to ensure you develop the skills, experience and connections needed for your graduate career. Many of our students secure graduate roles with their work placement employers.

Work placements and experience

These form part of compulsory modules, alongside an optional integrated placement year. We’ll support you to secure a placement with a UK-based or international employer, to match your interests and career goals. Placements can be paid or unpaid, depending on the position. Previous students have used these opportunities to explore new areas of the racing industry, as well as to further their understanding of a racing yard.

Our county of Gloucestershire is renowned for horseracing and hosts one of the world’s most prestigious annual race meetings – the Cheltenham Festival. The county is home to some of the world’s most prestigious racehorse trainers and racing facilities, which we make good use of to facilitate realworld learning.

Our students gain experience with many of these organisations, as well as through our partnerships with key governing bodies including the British Horseracing Authority. They also work at racecourses across the UK and organisations such as the Thoroughbred Breeders’ Association.

Guest lecturers and field trips

Industry professionals form an important part of your learning, enabling you to experience different businesses and careers. A wide range of speakers from across various aspects of the racing industry will feature throughout your programme to ensure you gain a full understanding of the breadth of opportunities within racing, and how industry stakeholders work together. You’ll also make valuable industry connections, in preparation for your career.

Graduate destinations

Several of our graduates from equine programmes have gone on to forge successful careers within the horseracing industry. One has even gone on to become the UK’s youngest racehorse trainer. Roles include:

  • Marketing manager, Thirsk and York racecourses
  • Graduate Scheme, British Horseracing Authority
  • Graduate Scheme, Jockey Club Racecourses
  • Irish National Stud

How you'll study

Your support network

You'll benefit from a strong support network from day one to be the best you can be. This will range from your personal tutor and specialist academic support team (our Achievement and Success Centre) to dedicated wellbeing and employability (Innovation, Careers and Enterprise) centres.

Academic support

You’ll have your own personal tutor while you’re here who will support you to succeed in your studies. You’ll also have access to our academic and wellbeing support teams who run regular workshops and one-to-one sessions on campus and online.

Alongside this, we have a comprehensive bank of online study skills resources to help you make the most of your qualification.

Your learning experiences

You'll experience a range of teaching methods to strengthen your digestion of topics, including lectures, workshops and practical sessions, as well as supported work placement learning as part of many courses.

Your career

Each year of your course will be made up of two semesters, within which you’ll study compulsory and optional modules on different industry-focused topics, enabling you to develop your own unique portfolio of knowledge, skills and experience, ready for your career. The course is taught in English.

Modules

What you'll study

This course covers a broad range of commercial business and horseracing topics through core modules. The course is comprised of both compulsory and optional modules, which you'll be able to choose from to suite your interests and career goals.

Optional modules change each year in line with student, industry and research demands - you'll find recent topics studied below. You can attend introductory sessions for optional modules before deciding which ones to study.

Module credits

On successful completion of your modules you’ll gain academic credit that accumulates towards your awards. The marks you gain in your final two years on campus may contribute towards your final degree classification.

Your foundation year will focus on a number of general equine topics to prepare you for later study years. You’ll gain a broad introduction to the equine industry, science and business topics, ready for the first year of your degree.

Compulsory Modules 

Foundation Skills Development

The module aims to provide an understanding of the scientific method and enquiry, team working, research skills and effective time management.

Academic Skills in Practice (Internship)

Develop reflective, practical and transferable skills in preparation for level 4 study based on an internship role at Hartpury linked to the student’s programme of study.

Reviewing Literature

The aim of the module is to develop understanding and knowledge of literature reviews including constructing a rationale, summarising and presenting relevant information to suit a purpose, subject and audience.

Foundation Equine Studies

The module aims to introduce the central anatomy, physiology, welfare and health that underpin best husbandry and management practices, along with key legislation and health and safety requirements in the equine industry.

Foundations of Business Enterprise and Management

This module covers the learning and understanding of basic contemporary business practice; an appreciation of the complexity of modern organisational environments and of the critical role enterprise and innovation has to play.

This year will focus on the fundamentals of business while developing your knowledge of all aspects of the horseracing industry. You'll gain expertise across a wide range of areas including marketing and finance, as well as studying the key stakeholders in racing and the sector’s overall funding structure.

Compulsory Modules 

Professional Development and Influence within the Equestrian Sector

An introduction to learning theory and human behaviour in relation to developing an understanding of reflection of self and how humans interact and influence others.

Introduction to the Horseracing Industry

An introduction to the different stakeholders and funding of the racing industry.

Equestrian Project Management

Gain an understanding of the importance of project management and self‐reflection to aid professionaldevelopment.

Understanding Business and Economic Environment

Take a closer look at the macro- and microeconomics of horseracing.

Understanding Business and Financial Information

This module will introduce you to financial statements and their use.

Introduction to the Principles of Marketing

Explore marketing models and key strategies.

In this year you’ll study a compulsory horseracing industry module, focusing on global perspectives. You’ll also undertake a work placement in industry and choose from a broad variety of business modules, looking at specific areas of hospitality, sponsorship and fundraising

Compulsory Modules 

Professional Placement Experience in the Equestrian Sector

You'll complete a minimum of 150 hours of work experience during the year, which can be in a variety of equine-focused establishments in the UK or abroad.

Equestrian Research in Professional Practice

Through data driven analysis of customer perceptions and service expectations carry out market research to plan and problem solve to positively impact equestrian business performance.

The International Horseracing Industry

Explore the structure, communication and relationships within the international horseracing industry.

Equestrian Media Relations

Explore the complexities of Public Relations in the sports industry and develop press writing skills.

 

Optional Modules 

Accounting Information for Business

This module is designed to help undergraduate appreciate the role of management accounting within organisations, it majors upon capital investment, product and service costing, budgeting and working capital management.

Equestrian Event Management and Fundraising

Explore the operational aspects of event management and the customer experience.

Human Resource Management

This module enables students to explore the holistic human resource process of recruitment within organisations. As part of the assessment students will have the opportunity to develop and engage in ‘real life’ assessment centre activities, creating vital preparation for future employment opportunities.

International Stud Management

This module allows student to gain an understanding of stud management when breeding Thoroughbreds or Warmbloods, and challenges this involves. The module combines the application of scientific principles to the required decision making and actions during the annual stud cycle.

Study Trip

You will engage in a programme relevant study trip which will provide a context for you to synthesise content from across your programme of study and make applications and inferences to this real world setting, while expanding your horizons.

Integrated placement year (optional)

An optional integrated placement year between your second and final years allows you to put your knowledge and skills into practice and gain valuable industry experience. Many students get their graduate roles with the organisations with which they undertook their work placements.

Level Six (final year)

Your final year allows you to focus on areas of particular interest to you, streamlining your learning to those topics that will best support your future career. One module is your dissertation, a substantial research project that will require you to plan, implement and report on a specialist topic. You’ll also be able to choose from a range of business modules around specialist topics such as strategic management, leadership and social media.

Compulsory Modules

Undergraduate Dissertation

You'll partake in independent research and analysis in a related area with one-to-one support from an academic.

Sustainability and Global Responsibility within the Equestrian Sector

Explore and analyse current business practice within the global equestrian industry in relation to long term sustainability.

Horseracing, Governance and Law

Apply theoretical concepts gathered over the duration of your degree to the structure and governance of the horseracing industry and its distribution of power.

Optional Modules

Creating Equestrian Content for Media Platforms

Explore and create industry ready media content for a variety of media platforms.

People, Leadership and Change

Exploring the structure, diversity and culture of organisations in relation to leadership and change management.

Sales, Negotiation and Customer Service

Gain strategies and techniques to develop communications skills in order to influence, sell and negotiate within the equine industry.

Sports Sponsorship and Brand Development

This module allows students to explore the role and significance of sponsorship within the sports industry. They will have the opportunity to align theory with practice by developing a new sponsorship proposal for a chosen sports property.

Strategic Management

This module allows students to explore the strategic practices and principles utilised by global companies. Through an appreciation key external and internal impact factors students will put theory into practice and create a new strategic direction for an allocated organisation.

Modules

Overview

What you'll study

This course covers a broad range of commercial business and horseracing topics through core modules. The course is comprised of both compulsory and optional modules, which you'll be able to choose from to suite your interests and career goals.

Optional modules change each year in line with student, industry and research demands - you'll find recent topics studied below. You can attend introductory sessions for optional modules before deciding which ones to study.

Module credits

On successful completion of your modules you’ll gain academic credit that accumulates towards your awards. The marks you gain in your final two years on campus may contribute towards your final degree classification.

Level three foundation year (year one)

Your foundation year will focus on a number of general equine topics to prepare you for later study years. You’ll gain a broad introduction to the equine industry, science and business topics, ready for the first year of your degree.

Compulsory Modules 

Foundation Skills Development

The module aims to provide an understanding of the scientific method and enquiry, team working, research skills and effective time management.

Academic Skills in Practice (Internship)

Develop reflective, practical and transferable skills in preparation for level 4 study based on an internship role at Hartpury linked to the student’s programme of study.

Reviewing Literature

The aim of the module is to develop understanding and knowledge of literature reviews including constructing a rationale, summarising and presenting relevant information to suit a purpose, subject and audience.

Foundation Equine Studies

The module aims to introduce the central anatomy, physiology, welfare and health that underpin best husbandry and management practices, along with key legislation and health and safety requirements in the equine industry.

Foundations of Business Enterprise and Management

This module covers the learning and understanding of basic contemporary business practice; an appreciation of the complexity of modern organisational environments and of the critical role enterprise and innovation has to play.

Level four (year two)

This year will focus on the fundamentals of business while developing your knowledge of all aspects of the horseracing industry. You'll gain expertise across a wide range of areas including marketing and finance, as well as studying the key stakeholders in racing and the sector’s overall funding structure.

Compulsory Modules 

Professional Development and Influence within the Equestrian Sector

An introduction to learning theory and human behaviour in relation to developing an understanding of reflection of self and how humans interact and influence others.

Introduction to the Horseracing Industry

An introduction to the different stakeholders and funding of the racing industry.

Equestrian Project Management

Gain an understanding of the importance of project management and self‐reflection to aid professionaldevelopment.

Understanding Business and Economic Environment

Take a closer look at the macro- and microeconomics of horseracing.

Understanding Business and Financial Information

This module will introduce you to financial statements and their use.

Introduction to the Principles of Marketing

Explore marketing models and key strategies.

Level five (year three)

In this year you’ll study a compulsory horseracing industry module, focusing on global perspectives. You’ll also undertake a work placement in industry and choose from a broad variety of business modules, looking at specific areas of hospitality, sponsorship and fundraising

Compulsory Modules 

Professional Placement Experience in the Equestrian Sector

You'll complete a minimum of 150 hours of work experience during the year, which can be in a variety of equine-focused establishments in the UK or abroad.

Equestrian Research in Professional Practice

Through data driven analysis of customer perceptions and service expectations carry out market research to plan and problem solve to positively impact equestrian business performance.

The International Horseracing Industry

Explore the structure, communication and relationships within the international horseracing industry.

Equestrian Media Relations

Explore the complexities of Public Relations in the sports industry and develop press writing skills.

 

Optional Modules 

Accounting Information for Business

This module is designed to help undergraduate appreciate the role of management accounting within organisations, it majors upon capital investment, product and service costing, budgeting and working capital management.

Equestrian Event Management and Fundraising

Explore the operational aspects of event management and the customer experience.

Human Resource Management

This module enables students to explore the holistic human resource process of recruitment within organisations. As part of the assessment students will have the opportunity to develop and engage in ‘real life’ assessment centre activities, creating vital preparation for future employment opportunities.

International Stud Management

This module allows student to gain an understanding of stud management when breeding Thoroughbreds or Warmbloods, and challenges this involves. The module combines the application of scientific principles to the required decision making and actions during the annual stud cycle.

Study Trip

You will engage in a programme relevant study trip which will provide a context for you to synthesise content from across your programme of study and make applications and inferences to this real world setting, while expanding your horizons.

Integrated placement year (optional)/Level Six (final year)

Integrated placement year (optional)

An optional integrated placement year between your second and final years allows you to put your knowledge and skills into practice and gain valuable industry experience. Many students get their graduate roles with the organisations with which they undertook their work placements.

Level Six (final year)

Your final year allows you to focus on areas of particular interest to you, streamlining your learning to those topics that will best support your future career. One module is your dissertation, a substantial research project that will require you to plan, implement and report on a specialist topic. You’ll also be able to choose from a range of business modules around specialist topics such as strategic management, leadership and social media.

Compulsory Modules

Undergraduate Dissertation

You'll partake in independent research and analysis in a related area with one-to-one support from an academic.

Sustainability and Global Responsibility within the Equestrian Sector

Explore and analyse current business practice within the global equestrian industry in relation to long term sustainability.

Horseracing, Governance and Law

Apply theoretical concepts gathered over the duration of your degree to the structure and governance of the horseracing industry and its distribution of power.

Optional Modules

Creating Equestrian Content for Media Platforms

Explore and create industry ready media content for a variety of media platforms.

People, Leadership and Change

Exploring the structure, diversity and culture of organisations in relation to leadership and change management.

Sales, Negotiation and Customer Service

Gain strategies and techniques to develop communications skills in order to influence, sell and negotiate within the equine industry.

Sports Sponsorship and Brand Development

This module allows students to explore the role and significance of sponsorship within the sports industry. They will have the opportunity to align theory with practice by developing a new sponsorship proposal for a chosen sports property.

Strategic Management

This module allows students to explore the strategic practices and principles utilised by global companies. Through an appreciation key external and internal impact factors students will put theory into practice and create a new strategic direction for an allocated organisation.

The modules contain a mixture of scheduled learning – lectures, workshops and practical sessions – alongside independent learning. Students are expected to dedicate at least two to three hours of independent study per contact hour. Your course may also include work placement learning as part of some modules.

The foundation year includes an internship using Hartpury’s on-site facilities and industry links.

Year Contact learning Placement learning Independent learning
Level three (year one) 30% 0% 70%
Level four (year two) 27% 0% 73%
Level five (year three) 21% 12% 67%
Placement year (optional) 1% 80% 19%
Level six (final year) 18% 0% 82%

You will be assessed through a mixture of written exams, practical exams and written assignments. Many of the modules will be marked based on a mixture of assessment types, whilst others will be based solely on one type of assessment. Feedback will be given via a mixture of written bullet point-style feedback and/or oral feedback.

Year Written exam Practical exam Coursework
Level three (year one) 16% 44% 40%
Level four (year two) 13% 47% 40%
Level five (year three) 0% 28% 72%
Placement year (optional) 0% 0% 100%
Level six (final year) 13% 28% 59%

Each year of this course is taught over two semesters, normally consisting of 12 weeks of scheduled teaching and then assessment weeks, with an overview below:

  • Scheduled teaching takes place between 8:30 to 20:30 Monday to Friday.
  • Wednesday afternoons are normally reserved for sports and cultural activities.
  • Work placements may entail different days and hours.
  • Part-time students may need to attend learning activities five days each week, depending on modules selected.
  • Timetables are available during enrolment week.
View term dates

Tuition fees and financial support

Please visit our student finance page for information on tuition fees and student loans, as well as non-repayable grants, bursaries and scholarships, eligible to different groups, to support with study costs.​

Below, you'll find ​extra costs associat​ed with studying this course.

Clothing and footwear (circa £100)

You’ll need some specialist kit and clothing for the course, such as yard boots, riding hats and gloves to be prepared for your practical sessions. We’ll let you know exactly what you need to bring before enrolment.

Optional field trips (up to approximately £1,800)

Students are encouraged to engage in various trips and visits as part of the programme. While many of these are included in the course fees, there is the opportunity to engage in additional significant study tours, experiencing international racing practices in person.

Work placement opportunities

Travel costs are self-funded.

Accommodation and living costs

Please visit our student accommodation page for details.

Fees & Finance

For further details about this course, including the programme specification and module descriptions, please visit our document library.

Resource library

Academies

If you’re playing sport competitively, or you have the talent and drive to do so, you may want to join one of our Sports Academies. Over 200 international athletes have developed their talents with us over the past 10 years. You could be our next success story. We're a semi-professional sports environment offering world-class facilities and professional coaching and support services.

Hartpury College Mens Football Academy

Accommodation

Settle into an accommodation option to suit your taste and budget – at Hartpury University, undergraduate students can choose to live on-campus surrounded by Gloucestershire’s beautiful countryside or off-campus in the heart of Gloucester City centre. Enjoy the best of both worlds.

Hartpury University Accommodation

Finance

We can help you understand how it all works, and what you need to do next. Find out everything you need to know about tuition fees, student loans and bursaries and scholarships. In 2021/22, we provided assistance to over 1/3 of our students through bursaries, scholarships and grants, totalling a little under £1million.

Hartpury University Finance
Gold Gold Gold 01

TEF Gold

Our undergraduate provision has been awarded Teaching Excellence Framework (TEF) Gold in all aspects - Overall, Student Experience, and Student Outcomes.

GUG 2024 Top 10 Teaching Quality Landscape

Teaching quality

Ranked in the top 10 universities for teaching quality (The Times and The Sunday Times Good University Guide, 2024).

Graduate Outcomes 2023 97Pc

Graduate employability

97% of our graduates are in employment, further study or other purposeful activity (Graduate Outcomes, 2023). 

NSS 2023 Academic Support

Academic support

We’ve been named as the top university in England for academic support (National Student Survey, 2023).

Jessica Balmer
“I had a whole new world opened up to me at Hartpury. I started as a shy young person and graduated with the confidence and skills to go out and succeed. I had so many opportunities in so many different areas – achieving industry qualifications, helping on the yard, volunteering at equestrian events, training and competing, getting involved with professional demos, and keeping fit in the gyms.”
Jessica Balmer
BSc (Hons) Equine Business Management

High-performance equine environment

We have an international reputation for equine education. Our students are challenged to reach new heights in their fields.

If you’re passionate, hard-working and motivated to make a difference, we’ll give you the skills and connections to channel this energy into an exciting equine career. Whatever your career aspirations, you’ll find plenty of opportunities to gain experience on and off campus.

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Important information

Every effort has been made to ensure the accuracy of our published course information, however our programmes are reviewed and developed regularly. Changes or cancellation of courses may be necessary to ensure alignment with emerging employment areas, to comply with accrediting body requirements, revisions to subject benchmark statements or as a result of student feedback. We reserve the right to make necessary changes and will notify all offer-holders of changes as and when they occur.