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.
Growers who pack their kiwifruit with EastPack are required to become shareholders and hold 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.
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.
Growers are required to hold a minimum shareholding of 1 share for every class 1 tray of their production that is packed with EastPack.
Required shares can be acquired via the following options (or a mix of options):
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.
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.
Shareholders may earn a dividend on the shares that are held and fully paid. Unpaid shares will not receive a dividend. If unpaid shares are paid up prior to the dividend record date, they will be entitled to receive dividends.
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.
Shareholders voting rights at shareholder meetings follow a Cooperative model reflective on production, and is based on the lesser of their shareholding and their production.
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.
The company has a limit of six Ordinary Shares per tray of production. 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.
If you have any questions, please: