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7. Description of the Activities of the Issuing Group

The business activities of the Company and its Subsidiaries carried out in the five years preceding the date of registration of this Prospectus include the design, manufacture and distribution of apparel through its own retail stores, wholesale arrangements and a mail order catalogue system.

For more details on the activities of the Company and its Subsidiaries in the five years preceding the date of this Prospectus, refer to page 67.

The principal fixed assets of Pumpkin Patch and its subsidiaries are the fixtures and fittings in its retail stores and at its principal place of business at 439 East Tamaki Road in Auckland. These assets are owned by Pumpkin Patch (or a Subsidiary) and are used in its business.

8. Summary of Financial Statements

Summary financial information for Pumpkin Patch and its Subsidiaries prepared for the purposes of clause 8 of the First Schedule to the Securities Regulations 1983, and the information required by that clause, is set out on pages 67 to 69.

9. Prospects and Forecasts

The trading prospects of Pumpkin Patch and its Subsidiaries, together with any material information relevant to those prospects, are described generally on page 26, and more particularly in the Prospective Financial

Information set out on pages 36 to 43 of this Prospectus.

Risk and special trade factors which could materially affect the prospects of Pumpkin Patch and its Subsidiaries are described on pages 28 to 31.

10. Provisions Relating to Initial Flotations

The plans of the Directors of Pumpkin Patch and its subsidiaries during the twelve month period commencing on the date of this Prospectus are set out on pages 26. The sources of funds required for the implementation of these plans will be funds on hand (including funds raised under the Share Offer) funds generated in the normal course of business and, if required, borrowed funds.

The intended use of the proceeds of the Share Offer and the Option Offer is set out on page 17. However those proceeds may, notwithstanding the stated Directors’ plans, be applied towards any undertaking that the

Company may lawfully engage in.

A prospective statement of cash flows of Pumpkin Patch and its Subsidiaries (including the principal assumptions on which it is based) which the Directors expect to occur for the years commencing 1 August 2003 and 1 August 2004 are set out on pages 39 to 43.

There is no minimum amount that, in the opinion of the Directors, must be raised by the issue of the Shares offered under this Prospectus in order to provide for any of the following:

  • The purchase price of any property purchased or to be purchased which is to be defrayed in whole or in part from the proceeds of the offer;

  • Any preliminary expenses or commission so payable to any person in consideration of such person agreeing to subscribe for, or procuring or agreeing to procure subscriptions for, any of the Shares;

  • Working capital;

  • The repayment of money borrowed by the Company in respect of any of the foregoing matters.


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