prospectus for - Pumpkin Patch investor relations

More documents

Recommendations

Info

wholesale salesPumpkin Patch has identified wholesaling opportunities as a way of:• introducing the Pumpkin Patch brand and ranges to countries that are not currentlyserviced by Pumpkin Patch stores; and• supplementing the accessibility of the Pumpkin Patch brand and ranges in countriesthat do have Pumpkin Patch stores.Pumpkin Patch’s wholesaling relationships are at a relatively early stage of developmentand at present predominantly involve department stores in Australia, the United States,Ireland and the Middle East. Currently Pumpkin Patch supplies 10 international retailerswith the three largest being Nordstrom (United States), David Jones (Australia) andRoches (Ireland).Department stores agree in advance, season by season, to acquire a given quantity ofPumpkin Patch apparel and accessories. They display the merchandise either:• in a Pumpkin Patch branded area of the department store (i.e. visually similar to aPumpkin Patch retail store) called a “store in store”; or• on generic sales racks but with Pumpkin Patch branding surrounding the racks.Pumpkin Patch has a specific sales team that is responsible for pursuing and servicinginternational wholesaling opportunities.Pumpkin Patch directPumpkin Patch has specific websites for New Zealand (www.pumpkinpatch.co.nz),Australia(www.pumpkinpatch.com.au) and the United Kingdom (www.pumpkinpatch.co.uk). Onaverage in 2003, Pumpkin Patch’s websites received (in total) approximately 121,000 visitsper month.The internet sites, which are predominantly developed by Pumpkin Patch’s in-houseteam of specialists, are regularly refreshed to include the latest available ranges andremove items where stock is low.During the past 12 years Pumpkin Patch has built up a significant database of customerswho have either bought merchandise from stores, over the internet or out of thecatalogue. The database is regularly updated and analysed to ensure that customerdetails are up-to-date and that “non-responsive” entries are deleted.Each season Pumpkin Patch sends out approximately over 750,000 catalogues tocustomers in New Zealand, Australia and the UK. The catalogues are designed in-houseand feature the latest fashion ranges. Any sales orders received from the catalogue areprocessed by Pumpkin Patch’s in-house call centre (located at its head office) anddispatched by the distribution centre.The Pumpkin Patch call centre in Auckland is operated seven days a week and hasfacilities for 20 operators at any one time.12
Pumpkin Patch... our peoplePumpkin Patch employs approximately 1,700 people (34% in New Zealand, 59% inAustralia and 7% in the United Kingdom). Approximately 68% of Pumpkin Patch’s staffwork part time. When hiring staff Pumpkin Patch endeavours to identify people whoshare its vision and who are passionate about kidswear and committed to meeting,and exceeding, customers’ expectations of excellent service.One of Pumpkin Patch’s core philosophies is integrity – within the Pumpkin Patch team,with suppliers, and towards customers. This integrity is intended to create a platformof trust and commitment, and a foundation for all of Pumpkin Patch’s businessrelationships.Pumpkin Patch believes family life and strong family values are integral to the wellbeingof our people and therefore the Company. Family-friendly work policies encourageflexibility, adaptability and balance. People are rewarded for loyalty and long service,and families with young children are supported with in-house crèche facilities orchildcare subsidies.Pumpkin Patch recognises that employee retention and succession planning are vitalto a successful organisation. As such the Company has always ensured that keyemployees have been rewarded with equity interests in the Company, and theCompany has established a number of employee share schemes which have allowedemployees to share in our success. The share schemes are being restructured prior tothe listing of the Company and details of the restructuring are set out on page 84.In addition to these current schemes, the Directors of Pumpkin Patch agree with thephilosophy of rewarding employees with equity interests in the Company and haveestablished two new schemes to allow employees to share in the success of theCompany. One of these schemes is the DF7 Scheme, which will give all permanentemployees working more than 10 hours a week the opportunity to acquire Shares. Thedetails of that Scheme are set out on page 85.The other is the Pumpkin Patch 2004 Share Option Scheme, under which the OptionOffer is made. This Scheme is intended to give Eligible Senior Managers an additionalincentive to strive to create shareholder value by aligning their interests with those ofPumpkin Patch shareholders. Pumpkin Patch intends to establish similar schemes insubsequent years.This Prospectus is issued in respect of the 2004 Share Option Scheme and further detailsof the Scheme can be found on pages 93 and 98.This Prospectus is not issued in respectof either the DF7 Scheme or the schemes to be established in subsequent yearsalthough Pumpkin Patch anticipates that these schemes will be on similar terms.13
Page 1 and 2: Lead ManagerGoldman Sachs JBWere (N
Page 3 and 4: table of contentsInvestment overvie
Page 5 and 6: strong Australasian and growing int
Page 7 and 8: description of the company’s busi
Page 9: Pumpkin Patch... the brandFounded i
Page 12 and 13: sales and marketingPumpkin Patch’
Page 16 and 17: the offering14
Page 18 and 19: Shares will be able to be traded fr
Page 20 and 21: Option Offer (Employees Only)Offer
Page 22 and 23: shareholding structure20
Page 24 and 25: directors & senior management22
Page 26 and 27: Senior ManagementMike ArandGeneral
Page 28 and 29: corporate governanceThe Board of Pu
Page 30 and 31: isk and special trade factorsPrinci
Page 32 and 33: Head OfficePumpkin Patch’s head o
Page 35 and 36: 33financial information
Page 37 and 38: Basis of PreparationPro forma histo
Page 39 and 40: prospective financial informationTh
Page 41 and 42: PROSPECTIVE FINANCIAL INFORMATION (
Page 47 and 48: group financial statementsPUMPKIN P
Page 49 and 50: PUMPKIN PATCH LIMITED & SUBSIDIARIE
Page 65 and 66:
PUMPKIN PATCH LIMITED & SUBSIDIARIE
Page 67 and 68:
PUMPKIN PATCH LIMITED & SUBSIDIARIE
Page 69 and 70:
summary historical financial inform
Page 71 and 72:
SUMMARY HISTORICAL FINANCIAL INFORM
Page 73 and 74:
Basis of opinion on the summary of
Page 75 and 76:
statutory and other informationThe
Page 77 and 78:
5A. Restrictions of Directors’ Po
Page 79 and 80:
Relevant Interest Holder No of Natu
Page 81 and 82:
11. Acquisition of Business or Subs
Page 83 and 84:
20. Restrictions on the Issuing Gro
Page 85 and 86:
Regulation 12The Securities Commiss
Page 87 and 88:
DF7 Share SchemeThe Company has est
Page 89 and 90:
glossary of certain termsTermDefini
Page 91 and 92:
89application instructions
Page 93 and 94:
9. If your Share Application Form i
Page 95 and 96:
ules relating to the Pumpkin Patch
Page 97 and 98:
part or all of the Options (subject
Page 99 and 100:
arbitrator shall be appointed by th
Page 103 and 104:
directory and advisersDirectorsChri
show all

prospectus for - Pumpkin Patch investor relations

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?