Wholesale
MyFarm Limited
Pongakawa Kiwifruit Limited Partnership

Pongakawa Kiwifruit LP

Horticulture

Bid

WARNING 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.

Total Share/Units
1,090 Units
Min Investment
5 Units
Min Investment Value
NZD 50,000.00
Par Value
NZD 10,000.00
Quantity on Offer
5 Units
Offer Price
NZD 55,000.00
Highest Bid
Active Bidders
Last Traded Price
$51,000.00
Last Traded Quantity
5 Units
Last Traded Date
September 30, 2021

This is an offer for wholesale investors of Units in Pongakawa Kiwifruit Orchard Limited Partnership (the "Partnership"). The Partnership has acquired a 5.88 cha at Orchard 693 Maniatutu Road, Pongakawa in the Western Bay of Plenty and a further 7.4 cha SunGold and avocado orchard located at 191 Capamagian Drive, Athenree in the Western Bay of Plenty.

As a Pongakawa Kiwifruit Limited Partnership unitholder ('Unitholder'), you will become a Limited Partner in the Partnership.

The Expansion Offer is for 1090 fully paid units in Partnership at an issue price of $10,000/New Unit. The minimum investment is five New Units ($50,000) and thereafter the size of an investment can be increased in multiples of one New Unit. Existing Unitholders in the Partnership are deemed to have already met the minimum investment requirement and can invest in increments of one New Unit.

The Scheme is offered and managed by divisions of AGInvest Trading Limited, which trades as MyFarm, or a subsidiary. MyFarm Business division is the manager (“Manager”) of the Partnership and governance is provided by Pongakawa Kiwifruit GP Limited which is the partnership General Partner. The Manager will administer the Partnership and provide the business with governance, governance support and administration services under contract. Notably, the Manager will supervise and monitor the Partnership's lease and agreement with DMS. DMS is a leading Bay of Plenty kiwifruit and avocado orchard management and post-harvest operator. It is locally owned and operated with a focus on providing services aimed at increasing orchard productivity and grower profits.

Production of SunGold kiwifruit on Athenree Orchard is budgeted to increase annually for the next seven years as immature vines mature and the 0.17 cha to be converted to SunGold, comes into production. Syndicate distributions through this period are expected to average 8.4% and, once steady state production is achieved average 8.1% p.a. in an off-season for avocados, and 9.0% in an on-season for avocados.

The Offeror also reserves the right to itself, or through associated entities, underwrite up to $1.0 million of contributed capital for a 2.0% fee payable by the Partnership.

Property Name Location Address
Pongakawa Kiwifruit Orchard 693 Maniatutu Road, Pongakawa in the Western Bay of Plenty 693 Maniatutu Road, Pongakawa, 3186

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PONGAKAWA - Quarterly Report - Q1 - 30 Jun 2021
PONGAKAWA - Quarterly Report - Q1 - 30 Jun 2021
15/8/2021
SIGNED - PONGAKAWA - Financial Statements - FY 2021 ended 31.03.2021
SIGNED - PONGAKAWA - Financial Statements - FY 2021 ended 31.03.2021
26/7/2021
KIWIFRUIT - Harvest Update - 28 May 2021
KIWIFRUIT - Harvest Update - 28 May 2021
28/5/2021
PONGAKAWA - Quarterly Report - Q4 - 31 Mar 2021
PONGAKAWA - Quarterly Report - Q4 - 31 Mar 2021
12/5/2021
PONGAKAWA - Quarterly Report - Q3 - 31 Dec 2020
PONGAKAWA - Quarterly Report - Q3 - 31 Dec 2020
17/2/2021
PONGAKAWA - Quarterly Report - Q2 - 30 Sep 2020
PONGAKAWA - Quarterly Report - Q2 - 30 Sep 2020
24/11/2020
Pongakawa Kiwifruit Limited Partnership - Deed of Adherence 19 Aug 2020
Pongakawa Kiwifruit Limited Partnership - Deed of Adherence 19 Aug 2020
20/10/2020
Pongakawa Kiwifruit Limited Partnership -Athenree Expansion Information Memorandum - 27 July 2020
Pongakawa Kiwifruit Limited Partnership -Athenree Expansion Information Memorandum - 27 July 2020
19/10/2020
Pongakawa GP Limited - Constitution 9 June 2020
Pongakawa GP Limited - Constitution 9 June 2020
2/9/2020
Pongakawa Limited Partnership Agreement 29 June 2020
Pongakawa Limited Partnership Agreement 29 June 2020
2/9/2020
SIGNED - PONGAKAWA - Limited Partnership Agreement - 29.06.2020
SIGNED - PONGAKAWA - Limited Partnership Agreement - 29.06.2020
10/9/2020
Pongakawa Kiwifruit Limited Partnership - Information Memorandum - 25 May 2020
Pongakawa Kiwifruit Limited Partnership - Information Memorandum - 25 May 2020
26/5/2020