18 Dec 2010

Wool Partners extends share offer

10:24 pm on 18 December 2010

The proposed new farmer wool co-operative, Wool Partners, is extending its share offer for a second time.

The original closing date was 30 November, but it was moved forward until Friday to give sheep farmers more time to decide if they would pay a dollar a share to the co-op, and commit their wool clip.

They now have until the end of the year to subscribe.

The Wool Partners Co-operative needs to raise $65 million to start up, and have farmers commit to at least half of the strong wool clip.

Chairman Jeff Grant says there's been a strong take up of the share offer, but more of the wool clip is needed.

Mr Grant says a further announcement on the status of the offer will be made early next year.