Waipara Hills Wine Estate Limited
Registered Office Address
55 Kilmore Street
Christchurch
Directors
SIMPSON, Sir Gilbert
KITSON, Graham Walter
BRADLEY, Syd
BELLAMY, Terry
GOODWIN, Barrie
WU, Parker
Background
Incorporated: 15-JUN-2001
Waipara Hills Wine Estate Ltd has been established by Canterbury
business people for the purpose of producing premium brands for
domestic and international markets at a time of unprecedented
demand for fine New Zealand wines.
Waipara Hills Wine Estate Ltd is a new wine producing company
based in Canterbury. It is founded by business people whose aim
is to establish Waipara Hills Wine Estate Ltd as a flagship
producer of premium, medal winning wines for domestic and export
markets.
The Company will produce wines this year from its first harvest.
The Company is forecasting substantial harvests to follow, 300
tonnes in 2003 and rising to approximately 500 tonnes by 2006.
Wines will be made at St Helena in the short term but finance
from the share float has been allocated for a joint venture new
winery with as-yet unknown partner(s). Production of 35,000
cases is planned for 2006 under Waipara Hills and Langdale
labels. The company, of course, can buy grapes on the local
market and has contracts for grape supply from Marlborough and
Waipara.
Major Shareholders
Shares on Issue
Ownership Restrictions
None Known
Share Registry
Unknown
Website
www.waiparahills.com
News
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04.03.2002 - PRESS RELEASE
Waipara Hills Wine Estate Starts Well
National and international success for the Langdale of Canterbury and the Waipara Hills
labels highlighted the initial four months� trading by Waipara Hills Wine Estate Ltd.
The interim period to 31 December 2001 produced start-up operating losses for the new wine
producer as was expected. They stood at $765,784, including the expenses of the mid-2001
public issue.
The Langdale 2001 Riesling won a gold medal at the Air New Zealand Wine Show while Waipara
Hills 2001 Marlborough Sauvignon Blanc scored 89 points in the Wine UK Magazine New Zealand
Sauvignon Blanc tasting which put it second equal with Wither Hills. The directors were very
pleased with this early success for the new company, which was established in September last
year to produce and market premium quality award-winning wines.
Revenue totalled $124,069 and sundry income was $24,537. With bottling of wine occurring
later than expected and delays in negotiating United Kingdom export contracts overall revenue
from wine sales was behind budget for the four-month period. However, the directors expect
sales volumes to achieve budgeted levels as the 2002 year progresses.
The company entered into a short-term finance arrangement with the National Bank of NZ Ltd
for the GST component of the major asset transaction undertaken with Langdale Wine Company
Ltd, as well as to cover an overrun in the public issue costs. This facility has been reduced
to $50,000 and will be repaid in full from the funds arising from the payment of the second
call.
The business startup tasks are virtually complete and the directors� attention is now focused
on sales and production, says the chairman Mr Syd Bradley. While the next six months will be
challenging, medium term projections show that the business is tracking in line with the
Prospectus and Investment Statement projections in the key areas of production, sales and
profitability.
The directors advise that the company is now making its scheduled second and final call of 40
cents per share. The Notice of Call was posted to shareholders today (4 March) with the
payment being due by 5.00 p.m. on Friday 5 April 2002. The company issued 2,707,500 shares to
approximately 400 investors and proceeds were applied to the acquisition of the assets of the
Langdale Wine Company Ltd, capital expenditure and issue expenses. As at 31 December 2001 the
net assets of the Company were $1,097,116. The balance of the funds received from the call
now being made will be used for working capital so as to further the company�s business plan.
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MEDIA STATEMENT
8 NOVEMBER 2001.
Top Award to Waipara Hills Label
Wine industry newcomer Waipara Hills Wines Estate Ltd has had early success in the annual Air
New Zealand Wine Awards with four medals, including a gold, awarded to wines marketed under
the company's popular Langdale of Canterbury label.
The Langdale Riesling 2001 was one of only seven gold medals awarded for Rieslings, in the
prestigious wine awards just announced by the Wine Institute of New Zealand Inc.
The Air New Zealand Wine Awards are one of the industry's major events of the wine year and
this year 1074 wines were entered by a record 193 wineries. There were 58 gold medals
awarded, 140 silver and 397 bronze.
The Langdale label also scored a silver medal with Langdale Riesling 2000 and bronze medals
for the Langdale Pinot Gris 2001 and the Langdale Reserve Pinot Noir 2000.
"We are absolutely delighted with this success which comes in the same year as the successful
launch of Waipara Hills Wine Estate Ltd and the acquisition of the Langdale of Canterbury
brand," says Waipara Hills' chief executive Lew Stribling.
"This success is also a further tribute to the winemaking skills of Waipara Hills'
independent winemaking consultant Alan McCorkindale who is renowned for his attention to fine
detail. It bodes well for the future of the new company which will from next year market its
new premium brand Waipara Hills in addition to the Langdale of Canterbury label."
Air New Zealand Wine Awards chairman of judges John Belsham says the top wines from the
overall judging "reflect excellent winemaking skills, combined with attention to detail in
the vineyard and good vintage conditions."
Four teams of expert international judges including Jeremy Oliver from Australia and Mary
Ewing Mulligan MW from New York judged entries to the Awards.
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4 September 2001
WAIPARA HILLS WINE ESTATE PUBLIC ISSUE CLOSES SUCCESSFULLY
The board of directors of Waipara Hills Wine Estate Limited is pleased to advise that the
company's public issue of 3,000,000 shares at $1.00 per share (payable as to 60 cents on
application and 40 cents on or before 31 March 2002) has closed as a consequence of the
subscriptions exceeding the minimum threshold of 2,594,000 shares.
The company received applications from 391 investors for a total of 2,707,500 shares
($2,707,500) which is 113,500 of shares in excess of the threshold.
Commenting on the outcome of the public issue, the company's chairman Syd Bradley said, "The
success of the public issue means that the company can now get on with the business. Our
vintage 2001 wines are being prepared for release in late October and we are already
exploring a number of alternative options for the development of our joint venture winery in
Waipara".
Mr Bradley said that from the outset the directors of Waipara Hills Wine Estate Ltd were
under no illusions as to the difficult capital raising environment but that their faith in
the investing public throughout the country and, particularly in Canterbury has proved to be
well founded.
Waipara Hills Wine Estate Ltd has been established for the purpose of producing premium
quality award winning wine at a time when New Zealand wine is currently enjoying
unprecedented demand internationally and when the domestic market is also experiencing
growth.
The capital raised will now be applied to the acquisition of certain of the assets of the
Langdale Wine Company Ltd, budgeted capital expenditure and issue expenses with the balance
to be retained as working capital.
The company advises that share certificates will be posted to shareholders later this week
and it is anticipated that Waipara Hills Wine Estate Ltd's shares will be quoted on the New
Zealand Stock Exchange's Automated Trading System ("SEATS") from Monday 10 September.
For further information please contact:
Warren Head
Head Consultants Limited
Telephone: 64 3 3650 344
Fax: 64 3 3654 255
Mobile: 025 340 650
Email: [email protected]
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MEDIA STATEMENT
29 JUNE 2001
Public Issue by Wine Producer
A public share offer is planned by the new wine producer Waipara Hills Wine Estate Ltd, which
intends raising $3,000,000.
The Christchurch-based company has been established for the purpose of producing premium
quality wine at a time when New Zealand wine is enjoying unprecedented demand internationally
and a strong domestic market.
The directors of Waipara Hills Wine Estate Ltd include Syd Bradley, who is chairman of the
Canterbury District Health Board and Christchurch International Airport Ltd and deputy
chairman of New Zealand Post Ltd, and Sir Gil Simpson, who is founder and chief executive
officer of Aoraki Corporation Ltd, an international company headquartered in Christchurch.
The capital raising is to enable the company to fund the development of a business focused on
the production of wine and associated brand development and to acquire certain assets of the
Langdale Wine Company Ltd.
Grapes will be sourced under contract from 15 growers whose vineyards are located at Waipara,
Marlborough and Canterbury.
Waipara Hills Wine Estate Ltd intends to produce wines for both the domestic and export
markets with a particular emphasis on Pinot Noir.
Waipara Hills Wine Estate Ltd intends to offer 3,000,000 shares at $1 each, payable in two
instalments: the first instalment of 60 cents per share on application and the balance of 40
cents per share payable on or before 31 March 2002.
Waipara Hills Wine Estate Ltd made its debut at the popular 2001 Jade Wine and Food Fair, at
Christchurch's Hagley Park, where the company was a conspicuously stylish newcomer with
promotional staff introducing the new brand to thousands of fair-goers. By a happy
coincidence, the founder of JADE software, Sir Gil Simpson, was to shortly thereafter become
a director of Waipara Hills Wine Estate Ltd.
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