212 GREENS ROAD,
ORIELTON, TAS....7172
THERE ARE NO SYNDICATIONS UNDERWAY AT PRESENT, PENDING THE OUTCOME OF THE SALE OF LOTS 1 AND 108 AT THE MAGIC MILLIONS TASMANIAN YEARLING SALE ON 22 FEBRUARY, 2011 EITHER OR BOTH OF THESE HORSES MAY BE OFFERED FOR SYNDICATION. THE DETAILS BELOW ARE LEFT UP AS AN EXAMPLE OF THE DETAIL WE PROVIDE IN THE PDS.
PRODUCT DISCLOSURE STATEMENT
NOTICE TO POTENTIAL SUBSCRIBERS
THIS PRODUCT DISCLOSURE STATEMENT SHOULD BE READ IN ITS ENTIRETY
BEFORE DECIDING TO ACQUIRE A SHARE(S) IN THE HORSE HEREIN DESCRIBED YOU SHOULD CONSIDER THE SUITABILILTY OF THIS PRODUCT TO YOU.
IF YOU ARE IN DOUBT AS TO THE COURSE YOU SHOULD FOLLOW YOU SHOULD CONSULT THE PROMOTER OR YOUR BLOODSTOCK ADVISOR TO ENABLE YOU TO MAKE AN INFORMED DECISION AS TO WHETHER TO SUBSCRIBE TO THIS PRODUCT.
NAME OF PROMOTER: TERRY CLARKE
Australian Financial Services Licence No: 338941
Date of Document: 17 March, 2010
Purpose for which the syndicate is being formed
To race the Artie Schiller colt detailed below.
The number of shares in the syndicate:
Ten (10)
The purchase price per share:
$3,000
Description of horse to be owned by the Syndicate is as follows:
Gender: Colt
Sire: Artie Schiller (USA)
Dam: Dancing Beat (IRE)
Date foaled: 16 October, 2008
Branded: T – Near Shoulder,–Off Shoulder 54 over 8
Registration No: AUS 00965396
Colour: Bay
Name: Syndicate members will select the name
The horse is yet to be broken in.
The performance of its Sire and Dam is summarised below:
Sire’s performance:
Racetrack: Won 10 and placed 8 times from 22 starts and US$2,088,853 in stakes. He raced in the United States only and his highlight win was the stallion making Breeders Cup Mile Stakes at Group 1 level. He won 4 times at Group 2 and once at Group 3; 6 of his 8 placings were at group level. His wins and placings were predominantly at 8 and 9 furlongs a strong indicator of stallion potential. In winning the Group 2 Jamaica handicap at Belmont the margin was over 5 lengths and he set a course record of 1 minute and 45. 5 seconds. All his racing was on turf tracks.
Breeding record: Artie Schiller is by El Prado a leading stallion by one of the world’s leading stallions Sadler’s Wells. El Prado was the champion 2YO in Ireland with 4 wins up to Group 1 level. He is also the sire of Medaglia D’Oro who is currently one of the hottest sires in the USA being the sire of the great racehorse Rachel Alexandria.
Artie Schiller’s dam is Hidden Light by Majestic Light (a Group 1 winner of 11 races and the broodmare sire of winners of over US$76 million and 79 stakes winners). Hidden Light achieved 6 wins up to Group 1 level twice ( the Santa Anita Oaks and the Hollywood Oaks). She is the dam of 14 foals of which 13 raced for ten winners including stakeswinner Our Table Mountain. Her dam is the great broodmare Tallahto, a winner of 12 races (3 at group 1) and the dam of Prince True who stood as a sire in Australia.
Artie Schiller went to stud in the USA and Australia in 2007, accordingly this colt is from his first crop in this country. His yearlings have sold up to $165,000 in the 2010 sales reflecting the confidence breeders and buyers have in the stallion’s stock.
As noted above milers have a good record of producing winners and Artie Schiller fits that pattern. He is from a family that has regularly produced group 1 winners and is a magnificent animal standing at 16.1 hands with a real presence.
Dam’s performance:
Racetrack: Dancing Beat was foaled in Ireland to Australian time and sold through the Sydney easter sales to Tommy Smith. She never raced due to a knee problem. She is a full sister to Prince Spy a sprinter who had the unique record of being a winner in both the UK and a Australia (stakeswinner) having been imported to race here by Robert Sangster.
Breeding Record: Dancing Beat has had 8 foals of which 7 have raced of which 4 have been winners. Interestingly the four winners are all of her colts and these are the stakes placed Paternoster Row who beat Rain Guage, Emission and Kelshiki in his limited racing career; Sullivans Cove who won twice at two years and is still racing; Lords Place and Bagus who both won twice.
Dancing Beat is also the dam of Dantessa who in turn has had four foals of which 3 have raced all of whom are winners including stakeswinner of 6 races Kings Scholar, last season’s top two year old filly Tranquil Lass (2 wins) and Xaaressa.
Summary: Based on the race performance of the sire and the success with the colts produced by the dam and utilising software for the purpose, this colt is expected to be a sprinter miler. A good sign of potential as a racehorse is that he is a very laid back horse and takes his handling in his stride..
Proposed Trainer:
Charlie Goggin, Brighton, Tasmania.
The horse will be stabled with Mr Goggin while in training and at the property of Terry and Kerry Clarke while out of training.
Ongoing Expenses for each Syndicate Member:
Subscribers will pay an initial monthly fee of $320 and then for each subsequent month a set fee of $170 which includes a management fee of $10 per month per share.
In the event of a major veterinary procedure Syndicate members will contribute a pro rata share of the costs based on each person’s share of the Syndicate.
Promoter’s acquisition of the horse:
This horse was purchased for $27500 through the services of an Agent acting on behalf of Pine Lane Thoroughbreds Pty Ltd at the 2010 Magic Millions Tasmanian Yearling sale (Lot 129).
Veterinary Examination:
Dr Mark Buckerfield, Hobart Equine Practice examined the horse with respect to its suitability for racing on 9 March, 2010 and has issued the attached veterinary certificate confirming its suitability for this purpose.
Note, Dr Buckerfield has certified he has no financial or other interest in the Syndicate or the horse.
Dr Buckerfield will, however, provide ongoing veterinary services for the horse to the extent needed throughout it racing and non-racing periods.
Ownership of Horse:
As the Promoter of the Syndicate I certify that the horse described herein as the Artie Schiller-Dancing Beat colt is owned fully by PINE LANE THOROUGHBREDS and that it is in no way encumbered to any other party.
On completion of the Syndication the horse will be owned outright by the Syndicate and on taking ownership thereof it will be registered as such with the Registrar of Racehorses.
Syndication Costs: The Promoter has expended the following amounts in formation of the
Syndicate; advertising $1300, pro-rata insurance $450, veterinary inspection $150, Transfer of Ownership $100, purchase price of $27500, Agents Commission $500.
Syndicate Moneys: All moneys subscribed by members of the Syndicate will be deposited into a separate bank account No: 10080495 held at the Sorell Branch of the Commonwealth Bank until such time as the Tasracing Pty Ltd, the Lead Regulator, has registered or refused to register the Syndicate.
Period the offer of membership is open:
The opportunity to subscribe to the Syndicate will remain open for six months from 17 March, 2010 at which time, or prior to this is if the Tasracing Pty Ltd refuses to register the Syndicate, all moneys subscribed by persons intending to join the Syndicate will be returned with interest within 10 days of these events occurring.
Cooling Off Period:
Each subscriber to the Syndicate will be afforded a period of five (5) business days in which to review the decision and in the event that he/she does not wish to continue must advise the Promoter in writing by close of business on the fifth day of the wish to not proceed. On receipt of such advice the Promoter will refund the moneys subscribed by the applicant.
Industry Risks: Horse racing is a speculative past-time and the Promoter cannot in anyway guarantee the success of the horse on the racetrack nor the likelihood of any financial gain from its racing career or subsequent sale such that the investment made by each individual therein will in anyway be returned either at the level of the investment or any other quantum.
The horse will be insured for the first year of its ownership by the Syndicate for the purchase price and a copy of the policy provided to each member. Settlement of any claim against the insurer will be in accordance with the decisoins it makes under the terms of the policy. In subsequent years shareholders may choose whether or not to insure their respective shareholding.
Dispute Resolution: The Promoter has in place a dispute resolution procedure as follows:
In the first instance any Syndicate member may approach the Promoter with a request for him to address an issue or problem that is of concern.
If the Promoter and the Syndicate member cannot agree to resolve the matter then the Syndicate Member may lodge a complaint with the Financial Ombudsman Service (ABN 67121124448, GPO Box 3, Melbourne, info@fos.org.au, www.fos.org.au). The Promoter is a member of this service (Member No: 14758) so as to provide an independent facility for each Syndicate member to utilise to resolve any dispute that cannot be resolved directly with the Promoter.
DECLARATION
I TERENCE EDWARD CLARKE, hereby certify that:
(a) The statements contained in the PDS in relation to the Syndicate are true and not misleading in their form and content.
(b) The PDS contains all information which the investors and their advisers would require and reasonably expect to find in the PDS for the purpose of making an informed assessment about investment in the Syndicate.
Signature of Promoter:..
....................Date:17/03/10..............................
DISCLAIMER
A copy of this PDS has been lodged with Tasracing Pty Ltd pursuant to regulatory Guide 91 and related Class Orders issued by the Australian Securities & Investment Commission. No liability as to the contents of this PDS is taken by Tasracing Pty Ltd, its officers, employees or agents.
In particular (but not without prejudice to the generality of this disclaimer) Tasracing Pty Ltd does not warrant, and has no responsibility for, the commercial merits of the scheme referred to in the PDS, the manner in which the Syndicate is operated, or the taxation advantages (if any) to which the Scheme may give rise.
Signature of Promoter: .. ...............Date:17/03/10..................................
STATEMENT BY SHAREHOLDER
I declare that I have read an understood the requirements, terms and conditions of this PDS, and that I am not under any disqualification or other disability under the Rules of Racing:
(If proceeding to take a share please copy this statement and forward to the Promoter)
Name of Shareholder:................................................................................................................
Address:......................................................................................................................................
Signature of Shareholder................................................................Date;................................
Witness to Shareholder's Statement:
Name of Witness:.......................................................................................................................
Address:.....................................................................................................................................
Signature of Witness:..............................................................................................................
