Water Agreement Updated

A new version of the BCI water agreement has been published today.  The changes to the agreement are set out below;

  • Modified clause 2.1 and removed 2.2 to reflect that the scheme is operating and no longer requires preconditions around meeting minimum uptake and forming a joint venture.
  • Added clause 3.5 to provide that the BCI Board may surrender surplus shares from transacting members.  Designed to ensure Ordinary shares are available for further scheme expansion.
  • Added clause 8.3 to reinforce requirement for irrigators to provide Overseer simulations for monitoring nutrient loss from their properties.
  • Added new distribution lines to schedule one.
  • New version below.

Water Agreement (16 Sept 2014)

 

Stage Two Prospectus

Today Barrhill Chertsey Irrigation Limited registered a capital raising prospectus to seek support for the stage two development.  The prospectus will close on 7 November 2014.

Subject to gaining sufficient support from the capital raising the BCI scheme intends to build a new river intake at Barrhill, a pumped delivery line at Barrhill, and a gravity delivery line to Chertsey.  The design of the gravity line incorporates a hydro generation component which will support significant overcapacity and also hedge against increasing energy prices for the scheme.

Farmers in the area are being encouraged to carefully consider if this proposal could add value to their businesses, providing pressurised water to the farm boundary, backed up by comprehensive asset management and environmental management systems.

Prospectus documentation is available on the BCI Ltd page.