Tapawera Hop Garden 

  Hort  

 Tapawera Hop Garden LP 

  MyFarm Limited  

The law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to this offer if you are a person who comes within Schedule 1, clause 3(2)(a)-(c) or 3(3)(a)-(b)(ii) (inclusive) of the Financial Markets Conduct Act 2013. This includes where the amount invested upfront by the investor (plus any other investments the Investor has already made in the financial products) is $750,000 or more.

If you fall within Schedule 1, Clause 3 of the FMCA, as a result of this exclusion, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for this investment. Investments of this kind are not suitable for retail investors. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

Overview

The Offer is to wholesale investors of partly-paid Units in Tapawera Hop Garden LP, a limited partnership formed to acquire and
develop a 116 Cha hop garden at Tapawera, called Tapawera Hop Garden, and (subject to the approval of the Partnership
general partner) invest in a 20% shareholding in Hop Revolution. Hop Revolution will contract to supply garden development
and management services to Tapawera Hops LP, as well as post harvest, plant breeding, and distribution and marketing
services.

Tapawera Hop Garden will be established on 76 Cha of land to be purchased, and 40 Cha of adjoining leased land. The land
to be purchased will be settled in two stages. The Western Settlement is expected to take place on 21 September 2018 and will be for the 56 Cha on the Western side of the Motueka Valley Highway. The Eastern Settlement is subject to a boundary
change, and settlement of this 20 Cha will take place when the new titles issue, expected to be later in 2018.

The investment will be made using $19.6 million of contributed capital ($17.64 million raised in this Offer plus $1.95 million via a placement to Hop Revolution) and $8.355 million of bank debt, a 30% headline loan to value ratio (“LVR”). The Offeror reserves the right to use up to a further $5.585 million of bank debt and declare the sale and purchase agreement unconditional once it has received applications for $12.05 million in the Offer. In this event, the Offeror would continue to raise the balance of the $17.64 million being sought in the Offer until the shortfall is eliminated. If only $12.05 million of contributed capital is raised in the Offer, the initial LVR would increase to 50%. The Offeror also reserves the right, through itself or through associated entities, to underwrite up to $1.0 million of contributed capital for a 2.0% fee to be paid by the Partnership.

The development nature of Tapawera Hop Garden means that there will be no distributions in either FY19 or FY20. Thereafter, the Partnership is forecast to provide limited partners with increasing cash distribution levels until the garden is fully mature in FY23.


Issuer:
MyFarm Limited
Issue Name:
Tapawera Hop Garden LP
Market:
Agriculture
Market Type:
Hort

isEOI: false

Financials

Investment Type:Wholesale

Wholesale Investment Type:

Total Units/Shares:2054

Min Investment Units/Shares:10

Min Investment Value:NZD 100,000.00

Par Value:NZD 10,000.00


Establishment Date: 5 October 2018

Financial Year End:

Market Snapshot

Last Traded Value:NZD 180,000.00

Last Traded Price:NZD 9,000.00

Last Traded Quantity:20

Last Traded Date: 31 March 2019

Property Details

The Property is located approximately 2.1 km south-east of Tapawera Village. Property improvements include a modest four/ five bedroom cottage in need of maintenance as well as a large garage, and workshop, implement, wool and hay sheds.


Property Name:
Tapawera Hop Garden
Location:
Tasman
Address:
4574 Motueka Valley Highway, RD 2, Tapawera, New Zealand, 7096
Total Area (ha):
96
Effective Hectares:
76

Contact

Website: https://www.myfarm.co.nz/tapawera

Email: info@myfarm.co.nz

Phone:+64 6 323 2954

Document Name Description Date Uploaded
TAPAWERA - Quarterly update - Q4 - June 2019 TAPAWERA - Quarterly update - Q4 - June 2019 30 September 2019 Preview/Download
TAPAWERA HOPS LP - Quarterly Update Q3 31 Mar 2019 TAPAWERA HOPS LP - Quarterly Update Q3 31 Mar 2019 22 July 2019 Preview/Download
TAPAWERA - Unitholders Representative - 30 Apr 2019 9 July 2019 Preview/Download
TAPAWERA - Quarterly Management Report - Q2 - 31 Dec 2018 THGLP Dec 2018 Quarterly Management Report 9 July 2019 Preview/Download
TAPAWERA - Updated Due Diligence Report - Sep 2018 Tapawera Hop Garden LP Due Diligence Report September 2018 9 July 2019 Preview/Download
TAPAWERA - Tapawera Hop Garden GP Limited - Constitution THGLP - THG GP Limited - Constitution 9 July 2019 Preview/Download
TAPAWERA - Limited Partnership Agreement - Syndex - 21 Sep 2018 15 October 2019 Preview/Download
TAPAWERA - Interim Due Diligence Report - Aug 2018 9 July 2019 Preview/Download
TAPAWERA - Information Memorandum - 26 Jul 2018 THGLP Information Memorandum - 26 July 2018 - Updated 12 pm 01 Aug 2018 9 July 2019 Preview/Download
Zoom: 10

MyFarm Limited

 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value NTA Equity Asset Ratio ROE
Tapawera Hop Garden LP                  
Aupōuri Avocados LP                  
Awakeri Orchard LP                  
Bay Kiwifruit Orchards LP 63,514.00 NZD 201,821.89 NZD 107,160.03 NZD 94,661.86 NZD 215.00 NZD 2,199,868.56 NZD 2,042,400.01 109.00% 9.88%
Central Cherry Orchard LP                  
Eastern Orchards LP                  
GCF Investments 320,000.00 NZD 1,245,126.71 NZD 977,642.18 NZD 267,484.53 NZD 118,262.69 NZD 5,727,950.98 NZD 9,072,573.51 96.00% 0.14%
HLP Investments LP 350,580.00 NZD 632,298.42 NZD 470,229.35 NZD 162,069.07 NZD 54,095.29 NZD 14,484,708.92 NZD 10,407,794.69 109.00% 0.06%
Karaka Orchard Class B Units Partly Paid                  
Karaka Orchards LP 270,600.00 NZD 11,068.00 NZD 12,177.00 NZD -1,109.00 NZD 12,251.00 NZD 9,986,046.83 NZD 4,981,444.00 98.00% 0.22%
KLP Investments LP 350,000.00 NZD 1,517,286.25 NZD 333,662.25 NZD 1,183,624.00 NZD 125,746.41 NZD 2,539,420.06 NZD 9,992,728.32 95.00% 0.15%
Korokipo Apple LP                  
LLP Investments LP 350,000.00 NZD 1,282,105.20 NZD 296,608.24 NZD 985,496.96 NZD 101,418.02 NZD 5,778,501.40 NZD 9,808,322.34 94.00% 0.13%
PRD Investments 320,000.00 NZD 1,023,561.99 NZD 822,067.25 NZD 201,494.74 NZD 103,741.57 NZD 10,472,585.73 NZD 9,016,542.88 95.00% 0.11%
Rākete Orchards LP                  
TPLP Investments Limited 350,580.00 NZD 1,326,876.74 NZD 940,174.85 NZD 386,701.89 NZD 104,157.93 NZD 6,496,775.01 NZD 10,792,021.36 113.00% 0.12%
Waimarie Manuka LP                  
Wairua Hop Garden LP                  
 
Issue Production Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Tapawera Hop Garden LP            
Aupōuri Avocados LP            
Awakeri Orchard LP            
Bay Kiwifruit Orchards LP 1.49 NZD 4.73 NZD 2.51 NZD 2.22 NZD 0.01 NZD 51.51
Central Cherry Orchard LP            
Eastern Orchards LP            
GCF Investments 1,904.76 NZD 7,411.47 NZD 5,819.30 NZD 1,592.17 NZD 703.94 NZD 34,094.95
HLP Investments LP 1,623.06 NZD 2,927.31 NZD 2,176.99 NZD 750.32 NZD 250.44 NZD 67,058.84
Karaka Orchard Class B Units Partly Paid            
Karaka Orchards LP 11,000.00 NZD 449.92 NZD 495.00 NZD -45.08 NZD 498.01 NZD 405,936.86
KLP Investments LP 1,296.30 NZD 5,619.58 NZD 1,235.79 NZD 4,383.79 NZD 465.73 NZD 9,405.26
Korokipo Apple LP            
LLP Investments LP 1,296.30 NZD 4,748.54 NZD 1,098.55 NZD 3,649.99 NZD 375.62 NZD 21,401.86
PRD Investments 1,904.76 NZD 6,092.63 NZD 4,893.26 NZD 1,199.37 NZD 617.51 NZD 62,336.82
Rākete Orchards LP            
TPLP Investments Limited 1,623.06 NZD 6,142.95 NZD 4,352.66 NZD 1,790.29 NZD 482.21 NZD 30,077.66
Waimarie Manuka LP            
Wairua Hop Garden LP            
 
Issue Revenue Farm Working Expenses EBITDA Interest Enterprise Value
Tapawera Hop Garden LP          
Aupōuri Avocados LP          
Awakeri Orchard LP          
Bay Kiwifruit Orchards LP NZD 3.18 NZD 1.69 NZD 1.49 NZD 0.00 NZD 34.64
Central Cherry Orchard LP          
Eastern Orchards LP          
GCF Investments NZD 3.89 NZD 3.06 NZD 0.84 NZD 0.37 NZD 17.90
HLP Investments LP NZD 1.80 NZD 1.34 NZD 0.46 NZD 0.15 NZD 41.32
Karaka Orchard Class B Units Partly Paid          
Karaka Orchards LP NZD 0.04 NZD 0.05 NZD 0.00 NZD 0.05 NZD 36.90
KLP Investments LP NZD 4.34 NZD 0.95 NZD 3.38 NZD 0.36 NZD 7.26
Korokipo Apple LP          
LLP Investments LP NZD 3.66 NZD 0.85 NZD 2.82 NZD 0.29 NZD 16.51
PRD Investments NZD 3.20 NZD 2.57 NZD 0.63 NZD 0.32 NZD 32.73
Rākete Orchards LP          
TPLP Investments Limited NZD 3.78 NZD 2.68 NZD 1.10 NZD 0.30 NZD 18.53
Waimarie Manuka LP          
Wairua Hop Garden LP          

No trade history available for this issue.

Secondary Market - Tapawera Hop Garden LP Wholesale

No secondary market listings for this issue availble at this time. Check the Exchange for more listings.