HISTORY

Winpar Holdings Limited was established in 1985 as an unlisted public company by Mr Robert Cameron and the late Mr Wallace Hore, and by 30 June 1986 it had a share capital of $9005.00.

It commenced formal business on 1 July 1986 as an investor and sub-underwriter.

By 30 June 1987 the company had a share capital of $135,805.00.

On 3 March 1994 the company made a 2 for 1 offer to shareholders of new shares at $1.00 each, with provision for oversubscriptions. Shareholders took up 276,380 new shares under the offer.

On 19 November 1996 the company made a 1 for 5 offer to shareholders of new shares at $1.00 each with attaching free options, and a public offer of 1,000,00 new shares, also at $1.00 each with attaching free options. By 30 June 1998 the company had raised new capital of $1,133,011.00 as a result of the offers.

Since 1996 the company’s share capital has continued to grow, partly as a result of the exercise of options, and partly through the reinvestment of dividends which the company has paid each year.

On 5 December 2001 the company joined the official list of the Stock Exchange of Newcastle Limited (now known as the National Stock Exchange of Australia). It was the first company to do so.

Since its incorporation the company has always operated primarily as a value investor, and over a long period has accumulated a diverse portfolio of listed and unlisted securities which it has perceived as having long term value. Most of these are Australian securities. The portfolio includes some overseas securities, mainly shares in companies in the United Kingdom.

The company has always relied primarily on equity rather than debt in the conduct of its business.

It has however established a margin loan facility which can be used for special purposes.