Information Session Agenda 4.00pm David Croft, Chairman, Amuri - - PowerPoint PPT Presentation

Hurunui Scheme Information Session

Agenda

4.00pm David Croft, Chairman, Amuri Irrigation (AIC) Apology: Andrew Barton 4:15pm Mike Satterthwaite, Sheep and Beef farmer and AIC director 4:30pm Hamish Gilpin, Field Agronomist at South Pacific Seeds 4:45pm Matt Iremonger, General Manager at Willesden Farm (sheep, beef and cropping) 5:00pm Jansen Travis, Tambo Farm Consultant 5:30pm Opportunity for general questions to all speakers 6:00pm Finish

Amuri's vision is to be a trusted and progressive irrigation company, efficiently and sustainably supplying reliable water.

Product Disclosure Statement (PDS)

This is the document, to inform your decision to buy irrigation shares

Please note that today has been prepared for information purposes only and:

• a. No money is currently being sought for Shares in AIC; and
• b. No shares can currently be applied for or acquired. The intended offer of

shares will only proceed if AIC shareholders approve a major transaction

• c. That, if an offer to purchase shares is made, the offer will be made in

accordance with the Financial Markets Conduct Act 2013

• Very important that you put your intended land use on the

share application form.

• The FEP is a key document that will incorporate irrigation

into your farm.

• Paid for as part of your water charges.
• We see them being in place before the final call on the

shares.

• AIC is committed to helping you with the process.
• You will need to be farming at GMP.

FEPs: Farm Environment Plan

Industry – agreed Good Management Practices relating to water quality

Overall Objective is to reach at least 80% application efficiency. Which means that 80% of the water delivered to the farm is stored in the crop root zone.

Irrigation GMP

Overall Objective Maximising the efficient use of nutrients from all sources for plant growth, while minimising the losses of nitrogen and phosphorous to water.

Nutrients GMP

➢ AIC will manage and report the nutrient allocation to Ecan

• n your behalf.

➢ AIC will make sure that it has nutrients available when it issues shares for your nominated land use. ➢ As part of the share issue, you will be granted a change of land use. ➢ You will have the opportunity to apply for land use change in the future as per our Nutrient Policy.

Hurunui farmers with land that extends into the Waipara catchment

➢The LWRP requires landowners to hold a resource consent even if irrigation will be in the Hurunui catchment ➢We are working on a solution ➢This may be a global consent (held by AIC) or individual consents (held by farmers)and may be have to be dealt with outside the PDS ➢AIC cannot supply further information during the share offer, but will help in any way we can

On-farm cashflow for share purchase

$7,000 per A Share payable in three instalments:

• 1. $1,000 per A Share on application (July 2019)
• 2. $3,000 per A Share following the offer becoming

unconditional and prior to the Issue Date (mid 2020)

• 3. $3,000 per A Share on the Call Date (mid 2021)

• verview

Overvo

Key Milestone Target Date Detailed Design December 2019 Issue Tender February 2020 Award Contract May 2020 Commence Construction July 2020 Hurunui Scheme Complete and Operational October 2021

➢ AIC won’t be able to offer any help when the PDS is open ➢ Prepare good budgets for your bank ➢ We are trying to give you the information you require to make an informed decision ➢ Make use of Tambo while you can ➢ Without irrigation, your options for the future will be limited ➢ Thank you to our guest speakers

Summary