(12 July/Stuff)

2,375 water shares are for sale at $6,325 each in the Waimea dam joint-venture partner Waimea Irrigators Ltd (WIL). WIL chairman Murray King reported the purpose of the offering was to allow Century Water Ltd to convert its 2000 convertible notes and sell the shares to repay its investors. King says that the droughts the reason experience over summer provide a reason for irrigators to invest in a secure supply of water for their future. The scheme will see shareholders have different rationings of water from the dam as opposed to those who are not with shareholders receiving a ration of water from the dam every eight days with non-shareholders every 57. The offer is available to irrigators on the Waimea Plain until it closes on September 30.