27 June 2000
Farmers First moves share deadline

by FWi staff

PROSPECTIVE shareholders in a new British sheep export business have been warned to get their applications in earlier than previously stated.

Applications for shares in Farmers First must be received by 5pm on Sunday 6 August. Previously the closing date had been later in August.

Farmers First plc is the holding company for recently formed on-the-hook exporters Farmers Fresh and Farmers Ferry, set up two years ago.

A Farmers First spokesman said the new deadline tied in better with summer show dates where the company will be able to meet interested parties.

Farmers First representatives will be at the FWi stand (M300) at the Royal Show (3-6 June) at Stoneleigh, Warwickshire, to discuss opportunities.

They will also attend the Royal Welsh Show, The Royal Welsh Agricultural at Builth Wells (24-27 July) and Sheep 2000 in Malvern (2 August).

Prospectuses will also be sent out to the 6000 farmers who have paid membership fees and other parties who have expressed an interest.

A minimum share application has been set at 250, and applications made before 16 July will be eligible for a 20% discount on normal share prices.

In May it was reported that the company expects to raise in the region of 400,000 but would like as much as 2m.

Last year, Farmers Ferry sent 1.1 million live sheep to the Continent.

Farmers Fresh began exporting carcasses at the beginning of May from a Warwickshire abattoir which can slaughter up to 15,000 sheep a month.

The abattoir is currently leased, but will be bought outright if it proves to be a success and if enough money is raised by Farmers First.