Overview
The Offer is to wholesale investors of Units representing partnership capital in Gold Income LP, a Limited Partnership to be formed to acquire established SunGold orchards during calendar year 2021. Subject to the success of this Offer, the Partnership will purchase orchards and meet orchard purchase costs and syndicate establishment costs using a combination of contributed capital to be raised in this Offer and bank debt to a maximum overall loan to value ratio (‘LVR’) of 35%. The calculation of LVR excludes establishment fees and costs. The LVR for a particular orchard purchase may go as high as 50% in the short term to fund the initial settlement. The Offer is to raise $15m of partnership capital in Gold Income LP, plus over-subscriptions at the Offeror's discretion. The minimum amount that must raised in the Offer is $7 million (7 million Units on a fully paid basis). The amount of capital raised in the Offer will determine the number of SunGold orchards that can be purchased (one or more) and the rate that unpaid capital is called. The minimum investment is $50,000 and thereafter the size of an investment can be increased in multiples of $10,000 (10,000 Units). Payment of $0.20/Unit is due at the time of application. Payment of unpaid capital will be called in multiples of $0.10/Unit and subject to 20 business days notice. The offeror currently has purchased a property at the Cnr of State Highway 10 and Stanners Road Kerikeri and has a second property under contract (subject to approval) and are continuing to source additional properties for this offer. As a limited partner the maximum amount payable is $1.00 per Unit and no other payments are required to be made other than those specifically agreed to. IMPORTANT DATES: Initial Closing Date 14 May 2021 subject to raising a minimum of $7 million on a fully paid basis. Stage 2 opened on 7 May 2021 and was set up for the purpose of purchasing the second property (currently under contract) - These units will be raised under separate issue and will be merged with this issue when the purchase of the 2nd property is finalised.
Financials
Investment Type:Wholesale
Wholesale Investment Type: NZ Wholesale MIS
Total Units/Shares:20300000
Min Investment Units/Shares:50000
Min Investment Value:NZD 50,000.00
Par Value:NZD 1.00
Establishment Date: 20 May 2021
Financial Year End: 31 March 2023
Market Snapshot
Last Traded Value:NZD 70,000.00
Last Traded Price:NZD 1.00
Last Traded Quantity:
Last Traded Date: 23 June 2022
Property Details
Contact
Website: https://www.myfarm.co.nz/investment-opportunities
Email: [email protected]
Phone:06 323 2954
| Document Name | Description | Date Uploaded | |
|---|---|---|---|
| MyFarm SunGold Track Record Fact Sheet | 4 March 2021 | Preview/Download | |
| Gold Income Limited Partnership - Information Memorandum - 18/03/2021 | Gold Income Limited Partnership - Information Memorandum - 18 March 2021 | 26 February 2021 | Preview/Download |
| Gold Income LP-Secondary Market Offer IM - 4 April 22 | Gold Income LP-Secondary Market Offer Information Memorandum- 4 April 22 | 6 April 2022 | Preview/Download |
| Kiwifruit Industry Update | 9 January 2022 | Preview/Download | |
| GOLD INCOME LP - Rangitaiki Orchard - DD Report - August 2021 | GOLD INCOME LP - Rangitaiki Orchard - DD Report - August 2021 | 14 September 2021 | Preview/Download |
| GOLD INCOME - Limited Partnership Agreement - 20.05.2021 | GOLD INCOME - Limited Partnership Agreement - 20 May 2021 | 3 June 2021 | Preview/Download |
| Gold Income - Quarterly Report - March 2022 | 11 May 2022 | Preview/Download | |
| GOLD INCOME - Quarterly Report - 31 December 2021 | 17 February 2022 | Preview/Download | |
| GOLD INCOME - Quarterly Report- 30 September 2021 | GOLD INCOME - Quarterly Report- 30 September 2021 | 9 January 2022 | Preview/Download |
| GOLD INCOME -Secondary Market Offer IM -16 Nov 21 | GOLD INCOME -Secondary Market Offer IM -16 Nov 21 | 22 November 2021 | Preview/Download |
MyFarm Limited
| Issue | Production | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value | NTA | Equity Asset Ratio | ROE |
|---|---|---|---|---|---|---|---|---|---|
| Gold Income 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% |
| Birch Hill Capital Raise March 2022 | |||||||||
| Birch Hill LP | |||||||||
| Central Cherry Orchard LP | |||||||||
| CQuest LP | |||||||||
| Eastern Orchards LP | |||||||||
| GCF Investments | |||||||||
| Gold Income LP - Maraenui | |||||||||
| Gold Income LP - Rangitaiki | |||||||||
| Heretaunga Orchards LP | |||||||||
| HLP Investments LP | |||||||||
| 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 | |||||||||
| Kintyre Vineyard LP - Arck Extension | |||||||||
| KLP Investments LP | |||||||||
| Korokipo Apple LP | |||||||||
| LLP Investments LP | |||||||||
| MyFarm Application Test | |||||||||
| Otamarakau Kiwifruit LP | |||||||||
| PRD Investments | |||||||||
| Quarry Kiwifruit LP | |||||||||
| Quarry Kiwifruit LP - Ohaeawai Extension | |||||||||
| Riverview Kiwifruit LP | |||||||||
| Rākete Capital Raise Crown 26 Nov 2020 | |||||||||
| Rākete Orchards Bonus Units 29 Oct 2020 | |||||||||
| Rākete Orchards LP | |||||||||
| Tapawera Hop Garden LP | |||||||||
| Te Arai Gold LP | |||||||||
| Te Arai Orchard LP | |||||||||
| TPLP Investments Limited | |||||||||
| Waikerikeri Irrigation LP (Withdrawn) | |||||||||
| Waimarie Manuka LP | |||||||||
| Wairau Valley Vineyards LP | |||||||||
| Wairua Hop Garden LP | |||||||||
| Willowbank Apples LP | |||||||||
| Ᾱporo Iti Orchard LP |
| Issue | Production | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value |
|---|---|---|---|---|---|---|
| Gold Income 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 |
| Birch Hill Capital Raise March 2022 | ||||||
| Birch Hill LP | ||||||
| Central Cherry Orchard LP | ||||||
| CQuest LP | ||||||
| Eastern Orchards LP | ||||||
| GCF Investments | ||||||
| Gold Income LP - Maraenui | ||||||
| Gold Income LP - Rangitaiki | ||||||
| Heretaunga Orchards LP | ||||||
| HLP Investments LP | ||||||
| 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 | ||||||
| Kintyre Vineyard LP - Arck Extension | ||||||
| KLP Investments LP | ||||||
| Korokipo Apple LP | ||||||
| LLP Investments LP | ||||||
| MyFarm Application Test | ||||||
| Otamarakau Kiwifruit LP | ||||||
| PRD Investments | ||||||
| Quarry Kiwifruit LP | ||||||
| Quarry Kiwifruit LP - Ohaeawai Extension | ||||||
| Riverview Kiwifruit LP | ||||||
| Rākete Capital Raise Crown 26 Nov 2020 | ||||||
| Rākete Orchards Bonus Units 29 Oct 2020 | ||||||
| Rākete Orchards LP | ||||||
| Tapawera Hop Garden LP | ||||||
| Te Arai Gold LP | ||||||
| Te Arai Orchard LP | ||||||
| TPLP Investments Limited | ||||||
| Waikerikeri Irrigation LP (Withdrawn) | ||||||
| Waimarie Manuka LP | ||||||
| Wairau Valley Vineyards LP | ||||||
| Wairua Hop Garden LP | ||||||
| Willowbank Apples LP | ||||||
| Ᾱporo Iti Orchard LP |
| Issue | Revenue | Farm Working Expenses | EBITDA | Interest | Enterprise Value |
|---|---|---|---|---|---|
| Gold Income 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 |
| Birch Hill Capital Raise March 2022 | |||||
| Birch Hill LP | |||||
| Central Cherry Orchard LP | |||||
| CQuest LP | |||||
| Eastern Orchards LP | |||||
| GCF Investments | |||||
| Gold Income LP - Maraenui | |||||
| Gold Income LP - Rangitaiki | |||||
| Heretaunga Orchards LP | |||||
| HLP Investments LP | |||||
| 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 | |||||
| Kintyre Vineyard LP - Arck Extension | |||||
| KLP Investments LP | |||||
| Korokipo Apple LP | |||||
| LLP Investments LP | |||||
| MyFarm Application Test | |||||
| Otamarakau Kiwifruit LP | |||||
| PRD Investments | |||||
| Quarry Kiwifruit LP | |||||
| Quarry Kiwifruit LP - Ohaeawai Extension | |||||
| Riverview Kiwifruit LP | |||||
| Rākete Capital Raise Crown 26 Nov 2020 | |||||
| Rākete Orchards Bonus Units 29 Oct 2020 | |||||
| Rākete Orchards LP | |||||
| Tapawera Hop Garden LP | |||||
| Te Arai Gold LP | |||||
| Te Arai Orchard LP | |||||
| TPLP Investments Limited | |||||
| Waikerikeri Irrigation LP (Withdrawn) | |||||
| Waimarie Manuka LP | |||||
| Wairau Valley Vineyards LP | |||||
| Wairua Hop Garden LP | |||||
| Willowbank Apples LP | |||||
| Ᾱporo Iti Orchard LP |
| Traded Date | Traded Quantity | Traded Unit Price | Traded Value | Par Value | Trade Event |
|---|---|---|---|---|---|
| 23 June 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 23 June 2022 | 200,000 Units | NZD 1.00 | NZD 200,000 | NZD 200,000 | Off Market Transfer |
| 23 June 2022 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
| 23 June 2022 | 70,000 Units | NZD 1.00 | NZD 70,000 | NZD 70,000 | Off Market Transfer |
| 10 June 2022 | 1,543,000 Units | NZD 1.00 | NZD 1,543,000 | NZD 1,543,000 | Off Market Transfer |
| 10 June 2022 | 70,000 Units | NZD 1.00 | NZD 70,000 | NZD 70,000 | Off Market Transfer |
| 10 June 2022 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
| 10 June 2022 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
| 10 June 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 10 June 2022 | 40,764 Units | NZD 1.00 | NZD 40,764 | NZD 40,764 | Off Market Transfer |
| 30 May 2022 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | On Market Trade |
| 20 May 2022 | 400,000 Units | NZD 1.00 | NZD 400,000 | NZD 400,000 | Off Market Transfer |
| 13 April 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 April 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 April 2022 | 60,000 Units | NZD 1.00 | NZD 60,000 | NZD 60,000 | Off Market Transfer |
| 1 March 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 March 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 March 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 March 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 March 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 February 2022 | 150,000 Units | NZD 1.00 | NZD 150,000 | NZD 150,000 | Off Market Transfer |
| 1 February 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 22 January 2022 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | On Market Trade |
| 15 December 2021 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | On Market Trade |
| 1 December 2021 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | Off Market Transfer |
| 1 December 2021 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 December 2021 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 December 2021 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 December 2021 | 50,000 Units | NZD 1.00 | NZD 50,000 | NZD 50,000 | Off Market Transfer |
| 1 December 2021 | 1,000,000 Units | NZD 1.00 | NZD 1,000,000 | NZD 1,000,000 | Off Market Transfer |
| 30 November 2021 | 100,000 Units | NZD 1.00 | NZD 100,000 | NZD 100,000 | On Market Trade |
Secondary Market - Gold Income LP Wholesale
| Quantity on Offer | Offer Price | Offer End Date | Highest Bid | Active Bidders | Action |
|---|---|---|---|---|---|
| 50,000 Units | NZD 50,000.00 | 30/06/2022 | NZD .00 | 0 | |
| 50,000 Units | NZD 50,000.00 | 30/06/2022 | NZD .00 | 0 | |
| 100,000 Units | NZD 100,000.00 | 8/07/2022 | NZD .00 | 0 |