Company Restructure 01/07/2014
The Company restructure (merger) took place on 1 July 2014.
There were a variety of reasons why the Boards of each of the merging entities considered that the merger needed to occur and recommended the merger to shareholders. These reasons can be found under the heading ‘Reasons for the Proposed Merger’ in the Merger Proposal document (available for download below).
As a result of the restructure and merger, each shareholder irrigator was required to enter into a new Water Agreement to provide for the future needs of the scheme and the shareholder irrigator. The water agreement comprises a short form water agreement and terms and conditions that apply to it – available for download under page Company Documents.
There was a significant amount of work that was undertaken in respect of the restructure.
A key objective of the restructure was to ensure that irrigators retained their previous rights and entitlements within the new structure.
Further documents in relation to the restructure are available for download below: