[16 October/Stuff]

Waimea Irrigators Limited issued a replacement prospectus for the Waimea dam project. It was missing a much talked about mystery investor. The replacement product disclosure statement outlined a new investor vehicle that would be made of a group of local family businesses in the Waimea Plains. They remained unnamed, however were on the Waimea Irrigators Limited board. It came after changes were made to the financial model for the dam. The bulk of WLL’s share of the funding gap would come from an external New Zealand investor, however the situation had now changed. Chairman, Murray King, said they were grateful for the proposal and willingness to help. Negotiations were being finalised and remained confidential, but commitments had been made. There was no real Plan B if the dam did not proceed. The Tasman District Council welcomed the announcement.