EastPack Limited Investor Shares (Co-op Only)
Description:
* "EastPack
is a grower owned Kiwifruit post harvest company that has arguably the
highest orchard gate return in the industry for its shareholders.
EastPack (formerly known as Rangitaiki Fruit Packers Ltd) originated as a
grower co-operative in Edgecumbe in 1981. Land was developed next to the
Dairy Company in Edgecumbe in 1983 and this is now the Head Office of
EastPack. In 1996 the purchase of the Opotiki Co-op was completed and the
name subsequently changed to its current EastPack. In 2000, EastPack
purchased Zest Company, a Te Puke based Packing and Coolstorage operation,
with clients in Te Puke, Tauranga, Waikato and Hawkes Bay.
In 2001 EastPack invested $6.5 million developing a purpose built
Packhouse and Coolstorage facility on a 9-hectare site in Te Puke, the
heart of the kiwifruit industry. Since then, a further $11million has been
spent on additional graders and Controlled Atmosphere and Conventional
Coolstorage at the Quarry Road site and planning is underway for further
development on all three sites for 2004.
EastPack has gone from packing 60,000 trays for 23 shareholders to
packing 12.02 million trays (7.9m Zespri Green, 3.8m Zespri Gold)
for 389 suppliers from Bay of Plenty, Waikato and the Hawkes Bay.
These trays are packed at the company’s three post harvest sites
situated in Edgecumbe, Opotiki and Te Puke.
EastPack has always invested in modern plant. All three sites utilise
advanced technology systems, including innovative fruit handling
equipment. The installation of a Compaq six lane grader at Te Puke,
was completed prior to the 2004 season."
Website: http://www.eastpack.co.nz
Recent announcements: click here
Investor Shares:
• Receive the balance
(after the payment of the rebate) of EP profit by way of dividend - 31.5%
in 2000, 26% in 2001, 23% in 2002 and 29% in 2003.
• Are available to Growers with transactor shares.
• All eligible growers are entitled to a maximum of 2 Investor Shares
per tray.
• Are currently trading at $1.25/Share
• Require Board approval to purchase
The structure of EastPack is known as a "Hybrid Co-operative"
which has both Transacting Shares and Investor Shares. This structure
ensures that all profit is distributed every year.
Not available
Not available
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| Other | Last updated:15-11-2007 |
Company balance date:
