Pongaroa Property & Kakatahi Property 

  Hort  

 Waimarie Manuka 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 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


Issuer:
MyFarm Limited
Issue Name:
Waimarie Manuka LP
Market:
Agriculture
Market Type:
Hort

isEOI: false

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:10

Last Traded Date: 17 July 2020

Property Details

Property Name Location Address
Kakatahi Whanagnui Kakatahi, New Zealand
Pongaroa Tararua Pongaroa, New Zealand
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
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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

Secondary Market - Waimarie Manuka LP Wholesale

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