EastPack Limited Transactor 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
Transactor Shares:
Transacting Shares
• Have first call on profit by way of rebate (30c/Tray in 2000, 2001,
2002 & 2003)
• Are available to all Growers to a maximum of 1 Share per tray.
• Can be purchased in installments (see following options)
Payment Options of transacting shares:
Option 1
Initial Deposit $1000, 50% of rebate is paid in cash, 50% is used to pay
off the shares. Shares are paid off after approximately 6.5 years. 100% of
the rebate is paid to the grower after the shares are paid off.
Option 2
Initial Deposit $1000, 20% of shares are paid off within 10 days of
packing, all the rebate is paid to the grower. Shares are paid off after 5
years.
Not available
Not available
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| Other | Last updated:15-11-2007 |
Company balance date:
