Michael (Mick) Kain

Directorships
IndraNet Technologies Ltd

Major Shareholdings

Background

Born in 1948, Michael was educated in South Canterbury, South Island,
New Zealand. While having a deep personal interest in subjects like  
history, from very early on he was drawn to the business world. After
travelling extensively overseas to gain practical experience, and    
using the Orari family farm as a point of departure, he undertook a  
number of parallel farm development ventures throughout the          
Canterbury region.                                                   

From 1972 onwards, his farming business developed to include estates 
at Skipton (near Geraldine) and Clandeboye (near Temuka), as well as 
Orari. Production included wheat, barley, ryegrass seed, apple       
orchards, sheep for lamb fattening and wool, cattle for meat, and    
deer farming. Michael experimented successfully with the build up of 
humus in the soil through straw incorporation and minimum tillage.   

However, economic circumstances in New Zealand were changing fast    
with the relative importance of the primary production export sector 
declining, and the emergence of new industrial developments,         
particularly in the Christchurch region with the electronics and     
software industry. In 1984 Michael decided to progressively sell his 
extensive farming interests and diversify his business involvement   
into more rewarding and fast expanding sectors of the economy. He had
become a professional investor in 1982 and from 1984 onwards, his    
investment activities on the sharemarket and in industrial real      
estate expanded in Wellington and Auckland as well as in the         
Christchurch region.                                                 

In 1997 and early 1998 Michael became involved in the extensive      
review of the technology development undertaken by Arnoux and        
Associates Ltd and HM Associates Ltd as part of the due diligence    
process undertaken by Mr Russell Fitts. Michael focused more         
particularly in the development and market potential of the          
technology. During the same period he took part with other investors 
in the New Zealand auction of LMCS radio frequencies for broadband   
wireless telecommunication services. This experience highlighted for 
him the speed of technological change in the network and             
telecommunication sector, and the large market opportunities opened  
up by technology developments like IndraNet. It motivated his        
decision to invest in this area and support the IndraNet technology. 

In 1997, his real estate investments had also led him to take up a   
position with Richard Ellis international property consultants.      
However, in 1998 he relinquished this position to be able to devote  
more time to the development of IndraNet Technologies Ltd, of which  
he had become a Director.                                            


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