Taupo Motorsport Park Limited
Request a copy of the Investment Statement
Description:
Taupo
Motorsport Park Limited (TMP) is seeking to issue 2,750,000 shares at a
price of $1.10 per share with the minimum application being 3000 shares
($3,300) and multiples of 500 thereafter. Upon successful completion of
the IPO TMP will list on the NZAX, with a market cap of around $10
million.
* TMP’s business combines the operation of New Zealand’s premier international motor sport venue with a complementary business park. The business park is home to motor sport and motor industry related businesses.
The Taupo Motorsport Park comprises New Zealand’s only FIA (Federation Internationale de l’Automobile) Grade 2 status motor racing circuit capable of hosting international motor sport events. Last year TMP hosted the A1GP and will do so again in January 2008.
The Chairman of TMP, Mr. John Parker said today that the company is projecting a fully imputed dividend of 1 cent for the year ending March 31 2008 increasing to 6 cents for the year ending 31 March 2009.
“Due to the uniqueness of the business we have included information in the prospectus that is additional to that required by the NZAX listing rules. The prospectus includes forecasts until 2009.” said Mr. Parker. “When the business was established three years ago it was recognised that a public listing was a goal to work towards but that any offer of shares would need to be based on an established facility and business. TMP is now well established in terms of facilities and a growing business base,” said Mr. Parker
“Motor racing is the most obvious business of the company but there are other important income streams. The use of the track for product launches, professional instruction and self drive are rapidly growing segments of the business”
Mr. Parker said that the pit lane facilities with 32 garages and 8 hospitality suites are designed not just for motor sport events but for product launches and conferences. “The business park is already substantially leased to companies involved in motor sport and has potential for expansion,” said Mr. Parker “Taupo is rapidly growing as a tourist, convention and adventure sport centre and as such is an ideal location for TMP. We see the company and the region growing together with exciting opportunities such as a skid pan, go carts, a motor museum, restaurant and an off road 4x4 track to name just some of the plans we have for the future.”
For more
information visit the website or request a
copy of the prospectus.
Also see a listing of recent articles below...
Website: http://www.tauporacetrack.co.nz/
Offer dates: Offer closes 23rd November 2007
Investment
Statement: click
here
Financials
"10 months ended 31 March"
|
Statement
of Financial Performance |
|
|
|
|
|
2007 |
2006 |
|
|
Revenue |
|
|
|
|
Sales |
823,554 |
316,817 |
|
|
Interest
received |
- |
- |
|
|
Other |
1,433,963 |
661,187 |
|
|
Total
Revenue |
2,257,517 |
978,004 |
|
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost
of sales |
- |
- |
|
|
Other
expenses |
928,780 |
705,393 |
|
|
EBITDA |
1,328,737 |
272,611 |
|
|
Depreciation
|
271,685 |
68,377 |
|
|
Amortisation |
- |
- |
|
|
EBIT |
1,057,052 |
204,234 |
|
|
Interest
expense |
216,900 |
32,206 |
|
|
Taxation |
316,491 |
15,633 |
|
|
NPAT |
523,661 |
156,395 |
|
|
|
|
|
|
|
Statement
of Financial Position |
|
|
|
|
|
2007 |
2006 |
|
|
Assets |
|
|
|
|
Current Assets |
|
|
|
|
Bank
and cash |
- |
132,303 |
|
|
Receivables |
- |
- |
|
|
Inventory |
- |
- |
|
|
Other |
414,725 |
223,352 |
|
|
Total
Current Assets |
414,725 |
355,655 |
|
|
Non Current Assets |
|
|
|
|
Property
Plant & Equipment |
11,210,899 |
6,386,396 |
|
|
Investments |
4,700,000 |
2,000,000 |
|
|
Goodwill |
- |
- |
|
|
Other |
- |
-
|
|
|
Total
Non Current Assets |
15,910,899 |
8,386,396 |
|
|
Total
Assets |
16,325,624 |
8,742,051 |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
Current Liabilities |
|
|
|
|
Payables |
190,231 |
- |
|
|
Short
term borrowings |
721,486 |
- |
|
|
Other |
1,589,217 |
774,787 |
|
|
Total
Current Liabilities |
2,500,934 |
774,787 |
|
|
Non Current Liabilities |
|
|
|
|
Long-term
Borrowings |
3,409,769 |
1,390,000 |
|
|
Other |
4,030,833 |
1,894,421 |
|
|
Total
Non Current Liabilities |
7,440,602 |
3,284,421 |
|
|
Total
Liabilities |
9,941,536 |
4,059,208 |
|
|
Net
Assets |
6,384,088 |
4,682,843 |
|
|
|
|
|
|
|
|
|
|
|
|
Statement
of Cashflows |
|
|
|
|
|
2007 |
2006 |
|
|
Cash
flows from operating activities |
|
|
|
|
Operating
revenues |
2,555,017 |
2,171,160 |
|
|
Operating
expenses |
863,563 |
438,434 |
|
|
|
1,691,454 |
1,732,726 |
|
|
Cash
flows from investing activities |
|
|
|
|
Inflows |
- |
- |
|
|
Outflows |
5,809,093 |
7,316,871 |
|
|
|
(5,809,093) |
(7,316,871) |
|
|
Cash
flows from financing activities |
|
|
|
|
Inflows |
3,263,850 |
5,982,223 |
|
|
Outflows |
- |
265,775 |
|
|
|
3,263,850 |
5,716,448 |
|
|
Net
Increase (decrease) |
(853,789) |
132,303 |
|
|
Opening
cash |
132,303 |
- |
|
|
Closing
cash |
(721,486) |
132,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis |
|
|
|
Per
share figures |
|
|
|
|
Dividend/shares |
- |
- |
|
|
NPAT/shares
(EPS) |
0.09 |
0.03 |
|
|
EBITDA/shares |
0.22 |
0.06 |
|
|
Net
Assets/shares |
1.07 |
0.98 |
|
|
|
|
|
|
|
Profitability |
|
|
|
|
ROA |
3.21% |
1.79% |
|
|
Equity
multiplier |
2.6 |
1.9 |
|
|
ROE |
8.20% |
3.34% |
|
|
ROavgE |
9.46% |
6.68% |
|
|
Net
profit margin |
23.20% |
15.99% |
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
Net
working capital |
(2,086,209) |
(419,132) |
|
|
Current
ratio |
0.17 |
0.46 |
|
|
Quick
ratio |
0.17 |
0.46 |
|
|
Working
capital ratio |
-0.13 |
-0.05 |
|
|
|
|
|
|
|
Capital
structure |
|
|
|
|
Debt
to equity |
1.56 |
0.87 |
|
|
Interest
coverage |
4.87 |
6.34 |
|
|
Shares |
5,969,807 |
4,792,223 |
|
|
Dividends
paid |
- |
- |
|
|
Dividend
payout ratio |
0% |
0% |
|
|
|
|
|
|
|
Growth
rates |
|
|
|
|
Revenue |
130.83% |
|
|
|
EBITDA |
387.41% |
|
|
|
NPAT |
234.83% |
|
|
|
Total
assets |
86.75% |
|
|
|
Net
assets |
36.33% |
|
|
|
g
=
(ROE*(1-DPR)) |
8.20% |
3.34% |
|
|
|
|
|
|
|
Other* |
|
|
|
|
Share
price (issue price) |
$
1.10 |
|
|
|
Market
cap |
$
6,566,788 |
|
|
|
Enterprise
value (EV) |
$
16,508,324 |
|
|
|
EV/EBITDA |
12.42 |
|
|
|
P/E
Ratio |
12.54 |
|
|
|
P/NA
ratio |
1.03 |
|
|
|
Dividend
yield |
0.00% |
|
|
|
Earnings
yield (E/P) |
8% |
|
|
| *some figures may not be meaningful - refer to the financial statements in the investment statement for more info | |||
Graphs
Company Directory
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Registered
Office: |
Mailing
address: |
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Directors: |
Secretary: |
|
Auditors: |
Solicitors: |
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Bankers: |
Registrar: |
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Other: | |
|
Other |
Last updated:16-11-2007 |
Company balance date: 31 March
Trading over the last year
(N/A)
IN THE NEWS: a list of articles featuring TMP
The difference with Taupo Motorsport Park
is that the company appears to have multiple-income sources to overcome
the problem of utilisation. The park may be best known for hosting the A1
GP races in New Zealand last year. The value for investors comes not from
hosting a marquee event like the A1 GP, but from all the activity that
goes on when the park is out of the public consciousness. About two-thirds
of the revenue is forecast to come from track operations, hosting events
and activities such as driver training. The rest of the revenue comes from
rental income on the business park the company has developed and income
from hiring out the Pit Lane building.
http://www.stuff.co.nz/blogs/theanalyst/2007/10/05/motorsport-park-offering-has-a-sporting-chance/
Taupo Motorsport Park Share Offer: Taupo Motorsport Park (TMP) intends to make an initial public offer of shares. It is proposed that just over 30% of the company be offered for sale as part of the initial public offering and the company has applied to the New Zealand Stock Exchange for listing on the NZAX. Up to 2.75million shares will be offered at a price of $1.10 per share. The minimum application is for 3000 shares. http://www.scoop.co.nz/stories/BU0709/S00428.htm
What is it called and what sort of savings product is it? Taupo Motorsport Ltd is seeking up to $2.75 million in an initial public offering (IPO) and is planning to list on the NZAX. Who is the company behind it? Taupo Motorsport Park operates New Zealand's premier international motorsport venue, which hosts a round of the A1GP, and a business park, which includes conference facilities, a drag strip and driver training area. Who is the target market? Petrolheads and investors who are interested in yield stock. http://www.nzherald.co.nz/section/12/story.cfm?c_id=12&objectid=10469748
Taupo Motorsport Park Limited announces
that it has extended the Closing Date in respect of its offer of shares in
the Company pursuant to its prospectus dated 21 September 2007 (Offer) to
23 November 2007. The new Closing Date, Allotment Date and expected date
for quotation and listing of the Shares on the NZAX Market for the Offer
will now be as follows:
Closing Date: 5pm on Friday 23 November 2007
Allotment Date: by 5pm Friday 30 November 2007
Expected quotation and trading of shares on NZAX Market: Monday 3 December
2007 http://www.nzx.com/market/market_announcements/by_company?id=155412
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