Punakaiki Fund Announces IPO

24 May 2013

Punakaiki Fund Announces IPO to Fund High Growth New Zealand Companies

Punakaiki Fund Limited (Punakaiki) is pleased to announce that it is considering raising between $20 million and $50 million by Initial Public Offering (IPO), to fund investments into high growth potential New Zealand companies.

The proposed offer of ordinary shares to the New Zealand public is expected to commence in late June to July this year.

The company intends to appoint Lance Wiggs Capital Management Limited as manager.

Punakaiki intends to apply any funds raised from an offer to invest in New Zealand-based growth companies, including seed stage and focussing on early and mid growth stages. Punakaiki will seek to make long-term investments in companies which can demonstrate the ability to:

• generate early revenues to validate their business model;

• follow an attractive revenue (and profit) growth curve; and

• create a sustainable competitive advantage through the clever use of internet, technology and/or design.

Punakaiki director and co-founder Lance Wiggs said: “We can say very little about this offer right now as we are bound by NZ Securities law. We are working hard on getting ready to make the offer to the public, and expect to do so towards the end of June or in July. To help potential investors we have launched Punakaikifund.co.nz, where we are accepting pre-registrations of interest until June 14th. As we all know from recent events that doesn’t commit investors to anything, but it will allow us to keep investors informed and also inform us about the opportunity.”

No money is currently being sought by Punakaiki and no applications for shares will be accepted or money received unless and until a combined investment statement/prospectus containing information about the offer has been registered and has been received by the subscriber.

ENDS

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