Taupo Motorsport Park Share Offer

Taupo Motorsport Park Share Offer

Taupo Motorsport Park (TMP) intends to make an initial public offer of shares. It is proposed that just over 30% of the company be offered for sale as part of the initial public offering and the company has applied to the New Zealand Stock Exchange for listing on the NZAX.

Up to 2.75million shares will be offered at a price of $1.10 per share. The minimum application is for 3000 shares.

Taupo Motorsport Park's business combines the operation of New Zealand's premier international motor sport venue with a complementary business park. The business park is home to motor sport and motor industry related businesses.

Taupo Motorsport Park comprises New Zealand's only FIA (Federation Internationale de l'Automobile) Grade 2 status motor racing circuit capable of hosting international motor sport events. Last year Taupo Motorsport Park hosted the inaugural New Zealand A1GP - World Cup of Motorsport and will do so again in January 2008.

The Chairman of Taupo Motorsport Park, Mr. John Parker said today that the company is projecting a fully imputed dividend 1cent for the year ending March 31 2008 increasing to 6cents for the year ending 31 March 2009.

"Due to the uniqueness of the business we have included information in the prospectus that is additional to that required by the NZAX listing rules. The prospectus includes forecasts until 2009." said Mr Parker.

"When the business was established three years ago it was recognised that a public listing was a goal to work towards but that any offer of shares would need to be based on an established facility and business. Taupo Motorsport Park is now well established in terms of facilities and a growing business base," said Mr. Parker

"Motor racing is the most obvious business of the company but there are other important income streams. The use of the track for product launches, professional instruction and self drive are rapidly growing segments of the business"

Mr. Parker said that the pit lane facilities with 32 garages and 8 hospitality suites are designed not just for motor sport events but for product launches and conferences.

"The business park is already substantially leased to companies involved in motor sport and has potential for expansion," said Mr. Parker

"Taupo is rapidly growing as a tourist, convention and adventure sport centre and as such is an ideal location for Taupo Motorsport Park. We see the company and the region growing together with exciting opportunities such as a skid pan, go karts, a motor museum, restaurant and an off road 4x4 track to name just some of the plans we have for the future."

Lead managers for the offer is McDouall Stuart.

The offer opens on 24 September and closes on 19th October.

ENDS

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