Achieved on Tuesday, one week ahead of the February 25 offer close, the company is now positioned to pursue its commercial, market pull strategy, putting Wools of New Zealand's brands and market connections to work and further developing its technical and marketing capability for the benefit of its grower shareholders.
This milestone has been reached through the continued support of growers including investors in Wools of New Zealand who have converted some of their loans to the Wools of New Zealand Trust into shares in Wools of New Zealand.
Mark Shadbolt, chairman of Wools of New Zealand, says achieving the minimum investment represented an opportunity for strong wool growers who have invested and committed to own the Wools of New Zealand brands and assets and be involved in a commercial strategy aimed at long term profitability.
"While we are anticipating a late rush of applications from farmers, the good news is that we have met the minimum threshold required," he says.
"There's still time for growers to get on board and I urge all undecided strong wool growers to consider this opportunity seriously and get their applications in this week, to ensure receipt by the February 25 deadline. Applications can also be emailed to This email address is being protected from spambots. You need JavaScript enabled to view it. right up to the close-off."
The Wools of New Zealand capital raises closes on Monday, February 25 at 5pm. For a copy of the Prospectus and Investment Statement visit www.ourwool.co.nz
