Wools of New Zealand Position to Date
19 December 2012
Wools of New Zealand Position
Following the announcement to extend the Wools of New Zealand Prospectus on Friday
14 December the directors wish to provide the outcome of the Wools of New Zealand capital raise so far.
As of today, $4.1 million has been raised from 552 growers representing approximately 12 million kilograms of annual wool production. The objectives of the directors remains to raise $10 million of capital and to have shareholders who annually produce 20 million kg of wool or more. Given the number of growers who have indicated that they are still to subscribe for shares in Wools of New Zealand, directors are confident that with that support from growers the above objectives will be met.
We urge growers to consider this opportunity seriously and apply for shares as soon as possible as the directors have the discretion to close the subscription list at any point over the minimum capital requirement of $5 million.
The support of growers who have already applied for shares is appreciated. This demonstrates their recognition that by owning Wools of New Zealand and investing beyond the farm gate they will strengthen their long term profitability.
For further information on the Prospectus and Investment Statement visit www.ourwool.co.nz.