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Share offer for investment in Waimea Community Dam closing soon

Fuseworks Media
Fuseworks Media

Waimea Irrigators Limited (WIL) is encouraging irrigators on the Waimea Plains to purchase water shares before its latest offer closes in less than two weeks - on 30 September 2019.

WIL Chair Murray King says the offer is open to anyone who owns land in a defined part of the Waimea Plains or leases ground water permits and/or surface water permits on the Plains.

"As we head into the warmer dryer months, people may be casting their minds back to last summer when we experienced the worst drought in almost two decades. This opportunity to invest in the Waimea Community Dam offers irrigators confidence in the future of their business. Buying shares in WIL is the best way to guarantee a dependable supply of water to continue growing and farming the Waimea Plains."

Following the close of this offer, it is highly likely that the price for water shares will increase, Mr King says.

Sales of shares to date are tracking steadily, he says. "However, it’s human nature to leave things to the last minute, so this is a friendly reminder not to leave it too late."

Dennis and Jane Webster own a 12-acre block in Appleby where they grow a range of root stock, lease several acres to Waimea Nurseries and host wedding functions and events. Dennis says he and his wife decided to apply to buy water shares in the latest WIL offer for a number of reasons.

"We are now seeing more extreme weather patterns in both summer and winter across the entire country," Dennis says. "The drought last summer really pushed that message home. The land we lease out could decrease in value and demand over time without a secure water supply."

He adds: "The knowledge we have a secure water supply will give us confidence to make decisions to diversify what we do on the property if and when we choose to do so in the future."

The latest offer to buy water shares in WIL opened on 21 June, with an updated Product Disclosure Statement (PDS) for the Offer of Water Shares publicly available for irrigators on the Waimea Plains to consider.

WIL encourages those considering purchasing shares to review the PDS information with their legal and financial advisors.

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