Our Shareholders

100% Grower Owned

Our Grower-owned cooperative structure means we can be truly single minded about what we’re here to achieve…The success of Grower Shareholders.

If it’s important to growers, it’s important to us.

Shareholding

Growers who pack their kiwifruit with EastPack are required to become shareholders and hold Ordinary Shares.

Ordinary Shares

An Ordinary Share has no nominal value, so the value will be what a willing seller and willing buyer would exchange at.  As with any market, the value of the share can vary depending on market conditions and company performance.  At 31 December 2022 the Net Tangible Assets (NTA) per fully paid share was $1.82. 

Shareholders may earn a dividend on the shares that are held and fully paid.

There are rules around shareholding which are detailed in the company's Product Disclosure Statement, which can be found here.

A copy of the Constitution, which was updated 17 May 2023, can be found here.

Computershare is the Registrar for EastPack shares. 

The key points about being an EastPack shareholder are:

Share Standard

A share standard has been set as one Ordinary Share for every tray of Class 1 kiwifruit supplied to EastPack by the Grower.  This is quantified by averaging the three highest annual volumes from the previous four years' production.

Minimum Shareholding Requirement

Growers are required to hold a minimum shareholding of 1 share for every class 1 tray of their production that is packed with EastPack.

Acquiring Shares

Required shares can be acquired via the following options (or a mix of options):

1. Growers can acquire shares over time through the annual Shareholder investment deducted from their annual fruit payments. Undershared growers will have their shareholder investment converted into shares at the end of the season at the share price.  
2. Growers can acquire their required shareholding by purchasing shares on the EastPack Share Market. (see Purchase and Sale of Shares below)
3. Growers can build up their shareholding by electing to reinvest dividends received on some or all of their existing shares into additional shares.  (see Dividend Reinvestment Plan below)
4. Where a grower purchases a new orchard and the vendor holds EastPack shares, the purchaser can acquire the EastPack shares from the vendor as part of the sale and purchase process if they wish to continue packing that orchard with EastPack.  The purchaser or vendor can obtain an Off-market Transfer Form from the Company Administrator.

Purchase and Sale of Shares

Growers may be able to purchase and sell shares through ShareMart, a secondary market trading platform for unlisted securities.  

Details of how to buy and sell shares on ShareMart can be found by clicking the button below:

The link above takes you to the ShareMart website and shows the last sale details, current offer, and buy and sell orders in the market.  You can also contact ShareMart by dialling 0800 50 50 06. 

All sales and purchases of shares on ShareMart require the approval of the EastPack Company Administrator.

Annual Share Buy-Back

In September each year, the company will complete a targeted Buy-Back of shares from Dry and Overshared shareholders.  This is an opportunity for Dry and Overshared shareholders to simply dispose of their shares.  The amount of the annual Buy-Back of shares will be limited to the amount received as part of the annual Shareholder investment payment.  The terms and conditions of each offer is outlined in the annual Share Buy-Back Disclosure Document.

In 2025, the Share Buy-Back will follow this timeline:

• Disclosure Date: The Disclosure Document is sent to all shareholders on Friday 22 August 2025
• Opening Date:  Eligible shareholders are sent a letter of entitlement on Monday 8 September 2025
• Closing Date: Applications must be received on Thursday 25 September 2025 at 5.00pm
• Settlement Date: Funds will be paid to successful applicants on Tuesday 30 September 2025

This timetable is indicative only and EastPack may change the dates set out in it's discretion.  If you have any queries, please contact the EastPack Company Administrator on [email protected]

New Shareholders

For new Growers joining EastPack, an application form will need to be completed to become a shareholder.  Once accepted as a shareholder, new shareholders can acquire shares by purchasing shares as outlined above.

Dividends

Shareholders may earn a dividend on the shares that are held and fully paid. EastPack's dividend policy is to declare dividends at a rate of up to 50% of Net Profit after tax.  Payment of dividends is proposed to be in March and September of each year.  Each dividend will be determined by the Board of Directors after due consideration of the capital requirements, operating performance, financial position, debt levels, and cash flows of the company at the time.  The Directors reserve the right to amend the dividend policy at any time.

In 2025, a final dividend relating to the 2024 financial year of 6 cents per share fully imputed was paid in April 2025.  The Board have announced the payment of an interim dividend for the 2025 financial year of 5 cents per share fully imputed to shareholders on the register at 5.00pm Friday 5 September 2025 for payment on Monday 22 September 2025.

Dividend Reinvestment Plan

Shareholders can choose to reinvest dividends received on some or all of their existing Shares into additional shares. The company's Dividend Reinvestment Plan can be found here.  Shareholders wishing to participate in the plan need to complete an Application form which can be found here.

For participants of EastPack's Dividend Reinvestment Plan, the interim dividend to be paid on 22 September 2025, will be converted to shares at a strike price of $1.50 per share. 

Voting Rights

Shareholders voting rights at shareholder meetings follow a Cooperative model reflecting their supply of fruit to EastPack, and is based on the lesser of their shareholding and their fruit supply.

Dry Shareholders

Shareholders who cease to provide EastPack with fruit to pack will become Dry shareholders.  Dry shareholders are required to sell their shares in EastPack within 3 years from the end of the last season that they packed fruit with EastPack.  They will need to sell their shares through ShareMart or by private agreement, and will continue to receive dividends on the shares until the shares are sold within the 3 year period.

Maximum Shareholding

The company has a limit of four Ordinary Shares per tray of production. This limit has recently been reduced from six Ordinary Shares as a result of a share consolidation in December 2024.  This adjustment to the limit means that the underlying equity the limit applies to remains essentially unchanged.  Shareholders who have shares in excess of the share limit have 5 years from June 2020 to bring their shareholding below the limit. This may be by either selling a portion of shares or by increasing production.

Questions?

If you have any questions, please:

• Contact your Grower Services Rep
• Email [email protected]
• Call Merv Dallas on 021 525 236