The Waimea Community Dam has even more financial certainty today following the commitment of Waimea Plains landowners to purchase more than 3,000 water shares – raising $16.5 million of equity – in the initial public offering of Waimea Irrigators Limited.
Commitments for water shares in Waimea Irrigators Limited’s offer that closed yesterday have exceeded 90 percent, giving the organisation’s leaders confidence they will reach their goal. Undecided landowners are now being urged to apply for water shares while the share price remains at the low initial offer for a further week until 12 April.
Although the Government announced yesterday it will be winding down public funding for large-scale irrigation projects, it confirmed its existing agreement for funding of the Waimea Community Dam.
Although applications for Waimea Irrigators Limited’s (WIL) water share offer have been increasing significantly in the last couple of weeks, feedback about the need for additional time has led WIL to extend the closing date by two weeks until 5 April 2018.
MP Nick Smith featured in the Waimea Weekly this week, using his Nelson Matters column to outline the benefits of the Waimea Community Dam.
The effort to inform Waimea Plains landowners about the offer to purchase water shares in Waimea Irrigators Limited (WIL) has started strongly. Ambassadors report positive feedback from potential shareholders and applications for shares have already been received. However, misunderstanding exists for some landowners about the water take changes coming in November 2018.
Waimea Irrigators Limited (WIL) has publicly released a Product Disclosure Statement for the Offer of Water Shares, which opened yesterday and is publicly available for irrigators on the Waimea Plains to consider.
Today’s announcement from the Government that Tasman District Council has been granted $7 million from the Ministry for the Environment’s Freshwater Improvement Fund is great news for the Waimea River, says Waimea Irrigator’s Limited Chairperson Murray King. The funding will go towards the construction of a dam that will be used to increase minimum flows in the Waimea River, resulting in a positive effect for adult trout, small trout, eels, torrentfish, koaro, upland bully and food producing habitat.
Waimea landowners have expressed strong interest in purchasing shares in Waimea Irrigators Limited (WIL), a company established to advance the funding and construction of the Waimea Community Dam. The shares will be used to fund the minimum $15 million required from landowners towards the total cost of the dam.
Lifestyle block owners and irrigators on the Waimea Plains should have received an information document and survey in February. The survey is seeking expressions of interest in the purchase of shares which will fund Plains water users’ equity contribution to the construction of the proposed Waimea Community Dam.
Waimea Irrigators Limited has been busy over the past few months, progressing activities relating to the Waimea Community Dam. This includes the preparation of a shareholder information document that will be circulated to irrigators over the next three weeks. The document was created to provide people with up to date information on the proposed dam project and to establish the level of support from water users, in order to proceed to the next stage.