Overview
The Offer is to wholesale investors of Units in Waimarie Manuka LP, a limited partnership formed to acquire North Island hill country farms for development into manuka plantations under sharefarming agreements with Comvita. A 315ha farm near Pongaroa (“Pongaroa Property”), and a 1,476ha farm inland from Whanganui (“Kakatahi Property”) have been purchased with settlement occurring in early May 2019 (Kakatahi-1st May and Pongaroa -15th May). Most of the 2019 plantation development work has been completed. 600 ha has been planted at Kakatahi and 278 ha at Pongaroa. An updated number of 450 ha of the Kakatahi Property will not be planted until the winter/spring of 2020 because there are insufficient plants available. This land has been leased out for grazing until it is needed for planting.. Once developed, it is intended that the Properties will have a total plantation area of 1,664 cha (up from 1,651 cha in the WMLP Offer). Comvita will supply and sell manuka plants to the Partnership, and plant and maintain the plantations at its own cost(excluding the costs of maintaining tracks and fences and 50% of pest control costs). It will also provide and pay for the apiary services needed to produce honey from the plantations and purchase all the honey that is produced. The Offer is a Managed Investment Product as defined by the Financial Markets Conduct Act 2013. Your money will be pooled with other investors’ money and invested. The Partnership intends to invest in the Properties using $8.037 million of Unit holder contributed capital raised in the WMLP Offer and this Secondary Market Offer, and $3.862 million of bank debt.The Partnership raised $6.36 million in the WMLP Offer and is looking to raise a further $1.68 million in this Secondary Market Offer. If only $1.13 million of contributed capital is raised in this Secondary Market Offer,the level of debt funding would increase to $4.41 million, and the LVR would increase from 35% of 40% (Note: to align with banking practice, the calculation of LVR excludes issue expenses). If less than $1.13 million is raised this Secondary Market Offer, the Board may consider reducing the size of the area to be developed. In the WMLP Offer, the Offeror also reserved the right (and continues to reserve 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 Offeror also reserved the right to accept up to $0.25 million of over-subscriptions. The Partnership is forecast to provide Unit holders with cash distributions from year one (the financial year (“FY”) ended 30 June 2020, FY20
Financials
Investment Type:Wholesale
Wholesale Investment Type: NZ Wholesale MIS
Total Units/Shares:811
Min Investment Units/Shares:10
Min Investment Value:NZD 100,000.00
Par Value:NZD 10,000.00
Establishment Date: 1 May 2019
Financial Year End: 30 June 2021
Market Snapshot
Last Traded Value:NZD 100,000.00
Last Traded Price:NZD 10,000.00
Last Traded Quantity:
Last Traded Date: 17 July 2020
Property Details
Contact
Website: https://www.myfarm.co.nz/waimarie-manuka-limited-partnership
Email: info@myfarm.co.nz
Phone:+64 6 323 2954
Document Name | Description | Date Uploaded | |
---|---|---|---|
FINAL - WAIMARIE - Financial Statements - FY 2020 ended 30 June 2020 | FINAL - WAIMARIE - Financial Statements - FY 2020 ended 30 June 2020 | 18 November 2020 | Preview/Download |
WAIMARIE - Quarterly Report - Q1 - 30 Sep 2020 | WAIMARIE - Quarterly Report - Q1 - 30 Sep 2020 | 12 November 2020 | Preview/Download |
WAIMARIE - Quarterly Report - Q4 - Jun 2020 | WAIMARIE - Quarterly Report - Q4 - Jun 2020 | 19 August 2020 | Preview/Download |
WAIMARIE - Quarterly Report - Q3 - 31 Mar 2020 | WAIMARIE - Quarterly Report - Q3 - 31 Mar 2020 | 13 May 2020 | Preview/Download |
WAIMARIE - Quarterly Report - Q2 - Dec 2019 | WAIMARIE - Quarterly Report - Q2 - Dec 2019 | 16 February 2020 | Preview/Download |
WAIMARIE - Quarterly Report - Q1 - 30 Sep 2019 | WAIMARIE - Quarterly Report - Q1 - 30 Sep 2019 | 26 November 2019 | Preview/Download |
FINAL - WAIMARIE - Financial Statements - FY 2019 ended 30 Jun 2019 | FINAL - WAIMARIE - Financial Statements - FY 2019 ended 30 Jun 2019 | 18 November 2019 | Preview/Download |
WAIMARIE - Secondary Market Offer Document - 28 Aug 2019 | Waimarie Manuka Limited Partnership Information Memorandum for the secondary market sale of NZD $1.68m unpaid units 28 Aug 2019 | 4 September 2019 | Preview/Download |
WAIMARIE - Due Diligence - 27 May 2019 | WAIMARIE - Due Diligence - 27 May 2019 | 14 August 2019 | Preview/Download |
WAIMARIE - Limited Partnership Agreement - 1 May 2019 | Limited Partnership Agreement for Waimarie Manuka Limited Partnership 1 May 2019 | 30 July 2019 | Preview/Download |
WAIMARIE - GP Limited Constitution | Waimarie Manuka GP Limited - Constitution | 30 July 2019 | Preview/Download |
WAIMARIE - Offer Document - 19 Nov 2018 | Waimarie Manuka Limited Partnership Offer Document 19 Nov 18 | 19 November 2018 | Preview/Download |
MyFarm Limited
Issue | Production | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value | NTA | Equity Asset Ratio | ROE |
---|---|---|---|---|---|---|---|---|---|
Waimarie Manuka LP | |||||||||
Aupōuri Avocados LP | |||||||||
Awakeri Orchard LP | |||||||||
Awatere Valley 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 | 260,000.00 | NZD 105,060.71 | NZD 101,672.62 | NZD 3,388.09 | NZD 15,010.44 | NZD 7,686,787.99 | NZD 8,069,777.90 | 82.00% | 0.01% |
Heretaunga Orchards LP | |||||||||
HLP Investments LP | 350,580.00 | NZD 1,002,541.49 | NZD 1,107,030.71 | NZD -104,489.22 | NZD 165,967.88 | NZD 13,913,472.49 | NZD 9,749,852.66 | 102.31% | 10.28% |
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% |
Kintyre Vineyard LP | |||||||||
KLP Investments LP | 340,000.00 | NZD 124,140.71 | NZD 54,858.39 | NZD 69,282.32 | NZD 21,529.14 | NZD 12,847,525.52 | NZD 11,210,767.30 | 91.00% | 0.01% |
Korokipo Apple LP | |||||||||
LLP Investments LP | 360,000.00 | NZD 675,599.59 | NZD 175,642.96 | NZD 499,956.63 | NZD 67,968.43 | NZD 8,326,749.30 | NZD 8,646,475.73 | 82.54% | 7.81% |
MyFarm Application Test | |||||||||
Otamarakau Kiwifruit LP | |||||||||
PRD Investments | 320,000.00 | NZD 1,941,943.84 | NZD 1,270,167.21 | NZD 671,776.63 | NZD 141,312.01 | NZD 10,491,531.25 | NZD 9,085,151.22 | 95.63% | 21.37% |
Quarry Kiwifruit LP | |||||||||
Riverview Kiwifruit LP | |||||||||
Rākete Capital Raise Crown 26 Nov 2020 | |||||||||
Rākete Orchards Bonus Units 29 Oct 2020 | |||||||||
Rākete Orchards LP | |||||||||
Tapawera Hop Garden LP | |||||||||
TPLP Investments Limited | 428,256.00 | NZD 1,994,638.25 | NZD 2,266,065.12 | NZD -271,426.87 | NZD 228,502.02 | NZD 19,159,159.67 | NZD 11,059,348.58 | 59.00% | 18.04% |
Wairua Hop Garden LP | |||||||||
Ᾱporo Iti Orchard LP |
Issue | Production | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value |
---|---|---|---|---|---|---|
Waimarie Manuka LP | ||||||
Aupōuri Avocados LP | ||||||
Awakeri Orchard LP | ||||||
Awatere Valley 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 | 1,140.35 | NZD 460.79 | NZD 445.93 | NZD 14.86 | NZD 65.84 | NZD 33,713.98 |
Heretaunga Orchards LP | ||||||
HLP Investments LP | 1,623.06 | NZD 4,641.40 | NZD 5,125.14 | NZD -483.75 | NZD 768.37 | NZD 64,414.22 |
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 |
Kintyre Vineyard LP | ||||||
KLP Investments LP | 1,069.18 | NZD 390.38 | NZD 172.51 | NZD 217.87 | NZD 67.70 | NZD 40,401.02 |
Korokipo Apple LP | ||||||
LLP Investments LP | 1,333.33 | NZD 2,502.22 | NZD 650.53 | NZD 1,851.69 | NZD 251.73 | NZD 30,839.81 |
MyFarm Application Test | ||||||
Otamarakau Kiwifruit LP | ||||||
PRD Investments | 1,758.24 | NZD 10,670.02 | NZD 6,978.94 | NZD 3,691.08 | NZD 776.44 | NZD 57,645.78 |
Quarry Kiwifruit LP | ||||||
Riverview Kiwifruit LP | ||||||
Rākete Capital Raise Crown 26 Nov 2020 | ||||||
Rākete Orchards Bonus Units 29 Oct 2020 | ||||||
Rākete Orchards LP | ||||||
Tapawera Hop Garden LP | ||||||
TPLP Investments Limited | 1,307.93 | NZD 6,091.80 | NZD 6,920.76 | NZD -828.96 | NZD 697.87 | NZD 58,513.76 |
Wairua Hop Garden LP | ||||||
Ᾱporo Iti Orchard LP |
Issue | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value |
---|---|---|---|---|---|
Waimarie Manuka LP | |||||
Aupōuri Avocados LP | |||||
Awakeri Orchard LP | |||||
Awatere Valley 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 0.40 | NZD 0.39 | NZD 0.01 | NZD 0.06 | NZD 29.56 |
Heretaunga Orchards LP | |||||
HLP Investments LP | NZD 2.86 | NZD 3.16 | NZD -0.30 | NZD 0.47 | NZD 39.69 |
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 |
Kintyre Vineyard LP | |||||
KLP Investments LP | NZD 0.37 | NZD 0.16 | NZD 0.20 | NZD 0.06 | NZD 37.79 |
Korokipo Apple LP | |||||
LLP Investments LP | NZD 1.88 | NZD 0.49 | NZD 1.39 | NZD 0.19 | NZD 23.13 |
MyFarm Application Test | |||||
Otamarakau Kiwifruit LP | |||||
PRD Investments | NZD 6.07 | NZD 3.97 | NZD 2.10 | NZD 0.44 | NZD 32.79 |
Quarry Kiwifruit LP | |||||
Riverview Kiwifruit LP | |||||
Rākete Capital Raise Crown 26 Nov 2020 | |||||
Rākete Orchards Bonus Units 29 Oct 2020 | |||||
Rākete Orchards LP | |||||
Tapawera Hop Garden LP | |||||
TPLP Investments Limited | NZD 4.66 | NZD 5.29 | NZD -0.63 | NZD 0.53 | NZD 44.74 |
Wairua Hop Garden LP | |||||
Ᾱporo Iti Orchard LP |
Traded Date | Traded Quantity | Traded Unit Price | Traded Value | Par Value | Trade Event |
---|---|---|---|---|---|
17 July 2020 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
17 July 2020 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
1 July 2020 | 5 Units | NZD 10,000.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
1 July 2020 | 3 Units | NZD 10,000.00 | NZD 30,000 | NZD 30,000 | Off Market Transfer |
1 July 2020 | 9 Units | NZD 10,000.00 | NZD 90,000 | NZD 90,000 | Off Market Transfer |
20 June 2020 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
20 June 2020 | 21 Units | NZD 10,000.00 | NZD 210,000 | NZD 210,000 | Off Market Transfer |
20 June 2020 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
20 June 2020 | 15 Units | NZD 10,000.00 | NZD 150,000 | NZD 150,000 | Off Market Transfer |
10 May 2020 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
16 March 2020 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
3 March 2020 | 15 Units | NZD 10,000.00 | NZD 150,000 | NZD 150,000 | Off Market Transfer |
13 November 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
8 November 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
27 September 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
5 September 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | On Market Trade |
17 May 2019 | 10 Units | NZD 10,000.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |