Wool Partners Co-op To Begin Operations April 1

Auckland, NZ, Jan. 7, 2011 — Wool Partners Co-operative Limited has decided to amend the terms of its capital campaign that it began in October and extend the closing date until Feb. 16.

The co-operative has already received subscriptions for 35 million $1 shares, with a target of $65 million.

The key change to the terms of the offer will ease the payment growers will be required to make this year.

Growers will be able to subscribe for shares with a single payment of 20 cents a kilogram of greasy wool this year, followed by four annual payments of 20 cents a kilogram from 2012.

Wool Partners Co-operative said it will begin operations on April 1 and will complete the purchase of selected operating assets from Wool Partners International on that date, including Wools of New Zealand and its brands.