Today Barrhill Chertsey Irrigation Limited lodged a Product Disclosure Statement (PDS) with the Companies Office to enable the company to raise capital from existing irrigator shareholders to take 100% control of the Barrhill Chertsey Irrigation Scheme.
The capital raise has a closing date of Monday 21 August 2017, and the Company must receive minimum subscriptions totalling $17,692,500 by that date. If all existing shareholders contribute at the share standard a total of $33,761,000 will be raised.
The funds will be used to purchase the share of the joint venture irrigation infrastructure business which is currently held by local electricity lines cooperative EA Networks. EA Networks were instrumental in the establishment of the scheme in 2010 and have supported its significant subsequent growth.
Those irrigator shareholders who invest under this offer will receive a return in the form of reduced annual water charges. You can read the PDS through the link below.