Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Windflow share offer re-opens

Media Release

18 July 2001

Windflow share offer re-opens

The Windflow Technology share offer has officially re-opened today, with the Companies Office confirming registration of its Prospectus. Minister of Energy Pete Hodgson has reaffirmed his support for the venture in the foreword he has provided for the offer documents. His letter of consent was the last piece of paperwork required by the Companies Office.

The offer is essentially unchanged from Windflow's early offering which raised 76% of the minimum target, $2.025 million. That offering closed on June 26th, earlier than planned because of a statutory time limit, which the Companies Office had only advised six days earlier.

All commercial terms and financial projections are identical to the earlier offering except for the financial year end being changed from March 31st to June 30th.

In addition the updated offer documents include reference to recent developments such as: · the contract signed with the Christchurch City Council to buy the output of the first Windflow turbine · the high wholesale power prices this winter · the government's Draft Energy Strategy which includes targets for renewable energy.

The offer documents can be downloaded from http://www.windflow.co.nz/shareoffering/

The Windflow venture is adding to the knowledge economy by establishing New Zealand-based manufacturing of its state-of-the-art design. This combines two proven technologies for reducing fatigue loads and thus machine weight. It is an evolutionary, rather than revolutionary, design based on technologies which have been running successfully in full-scale turbines overseas. Both technologies were developed in Britain under the engineering leadership of Windflow director and CEO, Geoff Henderson. Mr Henderson is a registered professional engineer in New Zealand and California.

"Public support for our proposal has been overwhelming as people pay more for electricity, express concern at the climate change impacts of gas-powered generation, and see the opportunity for a socially responsible investment." said Mr Henderson. "We look forward to completing the offer as soon as possible so that we can start building the wind turbine and the sustainable energy industry that will develop with it."

-ends-

Further information: http://www.windflow.co.nz Contact: Tim Armitage, Armitage Consultancy Tel: 03 351 8090, e-mail: tim@armi.co.nz

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news