Product Disclosure Statement

Transcription

1 Product Disclosure Statement For the sale of shares in the unnamed thoroughbred Bay Colt by Stratum out of Abazan foaled 20-Nov-2012 To be trained by David Hayes and Tom Dabernig, Euroa, Victoria. Preparation Date Approval Date 1-Aug Sep-2014 PDS and financial services provided by: Kinematic Thoroughbred Services Pty Ltd (ACN: AFSL: ) kinematicthoroughbreds.com.au The contents of this Product Disclosure Statement are copyright

2 Purpose This Product Disclosure Statement (PDS) relates to the offer of Shares (Offer) in a thoroughbred horse (Horse) for the purpose of racing. Each successful Applicant to this Offer will become a co-owner (Owner) of the Horse, in Syndicate. Successful Applicants will own legal and beneficial title to the Horse divided into twenty (20) equal shares, as tenants in common free of any encumbrance, until the Syndicate is terminated. Should an Owner default on their financial obligations other Owners are not collectively liable for costs and debts incurred by the defaulting Owner. The Promoter Kinematic Thoroughbred Services Pty Ltd ACN is the Promoter (Promoter, Us, We and Our) of this Offer. We are an approved promoter of Racing Victoria and hold Australian Financial Services Licence (AFSL) number This authorises us to deal in Horse Racing Schemes and provide general financial advice relating on such Schemes. Disclosure This PDS has been approved by Racing Victoria. We have complied with the disclosure requirements set out in ASIC Class Order 02/319, and with all regulatory requirements specified in Australian Rules of Racing (AR) and Local Rules of Racing (LR). We deal with all parties on an arm's length commercial basis. Where the Trainer or Seller retain a share in the horse, the share is a commercial investment and the appropriate fees are apportioned as they are to all shareholders. Disclaimer Subscription to this Offer is a financial commitment to contribute to the costs of training, racing and caring for the Horse. This Offer is subject to investment risk. Neither us, the Seller, nor any of our directors give any guarantee with respect to a return on investment or the general performance of the Horse offered. The Seller and us are not liable to compensate or reimburse any Owner for any liabilities or costs incurred in connection with this Offer. No liability as to the contents of this PDS is accepted by Racing Victoria or its officers, employees or agents. In particular (but without limiting the generality of this disclaimer) Racing Victoria does not warrant, and has no responsibility for the commercial merits or prospects of the Scheme referred to in this PDS, the manner in which the Scheme may operate, or the taxation advantages (if any) to which the Scheme may give rise. This PDS and our communications with potential Applicants do not take into account individual investment objectives or financial circumstances. We, and Racing Victoria, recommend that you obtain independent financial, taxation and legal advice in relation to this Offer and how it might apply to your circumstances should you decide to apply. Conditions of Application Applicants will be ineligible to purchase a Share or interest in the Horse offered, if the Applicant: is under the age of eighteen (18) years; is under any disqualification or other disability under the Australian Rules of Racing or local rules of racing; is an undischarged bankrupt; has been convicted of, or have a pending charge against him/her, for any offence involving violence against a person or dishonest or criminal activity in the past ten (10) years. All Applicants agree to be bound by this PDS, the Australian Rules of Racing and Local Rules of Racing. Copyright Kinematic Thoroughbred Services Pty Ltd Page 2 of 14

3 Contents 1 THE SELLER 4 2 THE TRAINER 4 3 THE HORSE SUMMARY SIRE DAM DETAILS OF ACQUISITION REPORTS & CERTIFICATES INSURANCE ELIGIBLE BONUS SCHEMES 4 4 THE SHARE ISSUE NUMBER OF SHARES AND MINIMUM SUBSCRIPTION SHARE PRICE OFFER PERIOD INVESTMENT TERM AND TERMINATION DATE 5 5 MANAGEMENT THE RACING MANAGER THE MANAGING OWNER VOTING (RESOLUTIONS) SALE OF SHARE INTEREST FIRST RIGHT OF REFUSAL CONDITIONS OF ANY SALE RACING COLOURS TROPHIES 7 6 ONGOING COSTS, FEES AND ENTITLEMENTS ESTIMATED AVERAGE MONTHLY COST EXTRAORDINARY EXPENSES MANAGEMENT FEE COMMENCEMENT OF PAYMENTS OTHER FEES AND ENTITLEMENTS INVOICING DEFAULTING OWNERS 7 7 BENEFITS ONGOING COMMUNICATIONS OWNERSHIP PRIVILEGES PRIZEMONEY DISTRIBUTIONS STABLE VISITS 8 8 RISK 8 9 DISPUTE MANAGEMENT 9 10 APPLICATION PROCESS APPLICATION FORM PAYMENT COOLING OFF PERIOD APPLICATION ACCEPTANCE AND OWNERSHIP TITLE 9 11 PROMOTER S DECLARATION 9 APPENDICES 10 LINDSAY PARK RACING AGREEMENT TO TRAIN 10 CERTIFICATE OF INSURANCE 11 VET CERTIFICATE 13 APPLICATION FORM 14 Copyright Kinematic Thoroughbred Services Pty Ltd Page 3 of 14

4 1 The Seller Lindsay Park Racing is the Seller of this Offer, offering Shares in the Horse identified in section 3 with clear title free from encumbrances. Lindsay Park Racing have engaged Kinematic Thoroughbred Services (We, Us, Our) to prepare this PDS and provide financial services for this syndication. Contact: Jason Timperley Phone: jason@lindsaypark.com.au Postal: 71 Bartons Lane, CREIGHTONS CREEK, VIC 3666 Website: 2 The Trainer David Hayes and Tom Dabernig of Lindsay Park Racing will be the Co- Trainers of the Horse being offered. They agree to train the horse under the conditions set out in this PDS and the Lindsay Park Racing Thoroughbred Agistment, Training & Transport Agreement which can be found at Any subscription to this Offer constitutes an agreement to be bound by these terms and conditions. Should there exist a conflict between these terms and conditions and those of this PDS, this PDS will take precedence. 3 The Horse 3.1 Summary 3.2 Sire Bay Colt by Stratum from Abazan foaled 20- Nov Golden Slipper winner STRATUM (son of Champion Sire REDOUTE'S CHOICE) was Australia's Champion first season sire of the 2009/10 season with 13 winners of in excess of $3 million in earnings (ahead of SNITZEL with 10 winners of $1.27 million) including the Golden Slipper winner CRYSTAL LILY. STRATUM has produced 287 winners and 23 stakes winners (including 9 at Group level). His progeny have earned almost $30 million in total. As well as CRYSTAL LILY, his headline horses include four time G1 winner STREAMA, G1 winner SOUTHERN LORD, UNPRETENTIOUS, RUNNING TALL, DIVINE CALLING and VA PENSIERO. 3.3 Dam This colt is out of the unraced ANABAA mare, ABAZAN. She is a sibling to four winners including the Group 3 runner- up HOLLIDAZZLE and successful Hong Kong gallopers SHINING DRAGON and SUPREME GAINS. ABAZAN'S dam ZEBIZAN (by Champion Broodmare Sire ZABEEL) is a full sister to Group 1 winner CRONUS, Group 3 winner and Group 1 runner- up PRAVDA and MILLIYET, the dam of Champion filly SAMANTHA MISS. 3.4 Details of acquisition The Colt was purchased at the 2014 Magic Millions Adelaide sale on 10- Mar- 14 for $100,000 plus GST, from the Cornerstone Stud draft. Lindsay Park Racing hold unencumbered title to the Shares offered in the horse. Current clients of Lindsay Park Racing hold the other Shares in the horse not offered for sale, also free of encumbrances. 3.5 Reports & Certificates A Veterinary Certificate including a statement whether the horse has any abnormalities or deformities that would likely prevent the horse from racing to its full potential, is appended to this document. As the Horse was purchased by the Seller at public auction, we consider the purchase price to be payable by the Owners for the Horse, reflects its current market value. 3.6 Insurance This Horse has been insured for Mortality with Lloyd's of London (via Inglis Insurance Brokers), until 10- Mar- 15 4:00 PM for the sum insured which is equal to the GST inclusive purchase price at auction. A Certificate of Currency is appended to this document. After this end date, it will be each Owner s responsibility to insure their share(s), if desired. 3.7 Eligible Bonus Schemes BOBS and Magic Millions Race Series. Nomination fees included in Share Price. Copyright Kinematic Thoroughbred Services Pty Ltd Page 4 of 14

5 4 The Share Issue 4.1 Number of Shares and minimum subscription Total Number of Shares: 20 Number of Shares Issued in this Offer: 18 Minimum subscription is 1 Share. 4.2 Share Price We offer Shares to subscribers at the Issue Price per 5% Share, of $8,100. Share Price Calculation Purchase price paid $100,000 Acquisition Costs paid: Lindsay Park sale costs $2,000 Equinome genetic testing $4,000 Insurance to 10- Mar $3,530 Horse Husbandry & Training costs paid to 30- Sep Costs incurred to 31- Jul $10,980 Anicipated costs 1- Aug to 30- Sep $6,000 Eligibility Payments paid or anticipated to be paid: Magic Millions Race Series $3,000 BOBS $900 Syndicate establishment costs paid or anticipated to be paid: Advertising & Lindsay Park Administration $1,975 Kinematic Thoroughbred Services Fee (including Racing Victoria fees) $1,500 Lindsay Park Racing Profit (10%) $13,388 Sub Total $147,273 GST $14,727 Total $162,000 Total per 5% Share Issued (18 Shares) $8,100 All costs incurred since 1- Oct will be charged to Subscribers pro rata based on each subscriber s shareholding. 4.3 Offer period This PDS will expire six months after the Approved Date ( Offer closing date ), or any such earlier date as may be determined by the Seller or us. However, in certain circumstances, we may apply for an extension to the Offer, or issue a Supplementary Product Disclosure Statement if some Shares remain unsubscribed. In other circumstances Lindsay Park Racing may retain the remaining shares and share the Ownership in the horse with you as an Owner. In this circumstance the appropriate fees are apportioned to those shares as they are to all shareholders. 4.4 Investment term and termination date The Syndicate will continue until the earlier of: The retirement of the Horse from racing; The sale or transfer of all Shares and interests in the Horse, or death of the Horse; Owners resolving to terminate the Syndicate or a court order directing that the Syndicate be terminated; or The Syndicate requiring to be wound up pursuant to the Rules of Racing or other applicable law. Copyright Kinematic Thoroughbred Services Pty Ltd Page 5 of 14

6 5 Management 5.1 The Racing Manager Jason Timperley from Lindsay Park Racing will act as the Racing Manager. Phone: The responsibilities of the Racing Manager include: Act as agent of the Trainer and Owners, including management of the Horse and of the Syndicate; Register the Horse and Owners and keep a register of Owners, the number of shares held, and their contact details; Liaise with the Trainer and other suppliers of services, and endorse decisions on behalf of owners unless a Resolution is deemed necessary (see section 5.3); Provide regular communications to the Owners regarding the status, health, welfare and activities of their Horse; Arrange inspection of the Horse for Owners at a convenient time for all parties; Determine with the Trainer, the race plan, nominations, acceptances and rider bookings; Notify Racing Victoria in writing of any change of Owner, any change in the percentage owned, and any change in an Owner address within a period of fourteen (14) days of the change. 5.2 The Managing Owner There is no function for a Syndicate Manager or Managing Owner, so we do not nominate one of the owners for this role. There is no requirement for any one owner to forward information from the stable to other owners in the Syndicate. Every owner will receive individual communication about the horse directly from the stable. 5.3 Voting (Resolutions) Occasionally, decisions are required to be made by the ownership group. On these occasions the Racing Manager will contact owners and the matter will be settled by majority vote (votes weighted in accordance with total shareholding). These decisions may include, but are not limited to; The horse s name (if the horse is unnamed at the time); Whether the horse is to undergo elective surgery; In the case of a male horse, whether the horse is to be gelded; Whether the horse is to be sold, entered for a sale or retired. If a majority of the ownership (greater than 50%) vote for the same outcome, then a Resolution will have been achieved. Such a resolution binds all Owners. No objection may be made after a resolution is achieved. In the event the vote is split, the Racing Manager shall have the deciding vote. 5.4 Sale of Share Interest Owners should consider their Share(s) as a long- term investment over the Horse s race career and they should be aware that there is not a ready market for exchange of racehorse shares. The Seller, Trainer, Racing Manager and us are under no obligation to sell a share on behalf of an Owner. However an Owner is entitled to offer their Share(s) for sale at any time by giving written notice of their offer to the Racing Manager, with the Share Price specified at the greater of: (a) A valuation received from an independent bloodstock agent recommended by the Federation of Independent Bloodstock Agents ( or (b) The price of a bona fide offer received in writing from any person for the Share(s). 5.5 First right of refusal If an Owner advises their intention to sell their Share(s), or a genuine written offer is received from a third party to purchase the Horse, the Racing Manager will share the offer with all Owners who, along with the Trainer and Racing Manager for a period of 7 days, shall have first option to purchase the Horse or Share(s). If more than one Owner, the Trainer, or the Racing Manager wish to match the Offer, the outgoing shares will be distributed evenly between the purchasers, or otherwise by mutual agreement. If none of the Owners, Trainer or Racing Manager purchase, then a public sale can proceed. 5.6 Conditions of any sale The Owners selling the Horse or Share(s) in the Horse remain liable for their share of costs relating to the care and training of the horse until such time as any sale is executed. The purchaser(s) must be capable of being registered as an Owner under the Australian Rules of Racing. If a Share or Shares in the Horse are being sold, the purchaser(s) must agree to all terms of this PDS and the Lindsay Park Racing Training Agreement. The cost of any sale, including any valuation and transfer of ownership, will be borne by the selling Owner(s). The selling Owner(s) also agree to pay any fees or entitlements specified in section 6.5. Copyright Kinematic Thoroughbred Services Pty Ltd Page 6 of 14

7 5.7 Racing Colours The horse will race in the Lindsay Park Racing colours of White, Green Sash, Black Sleeves and Cap unless alternative silks are chosen by a majority vote of the ownership group. If alternative colours are selected, it is the responsibility of the Owners to provide them. 5.8 Trophies Lindsay Park Racing reserves the right to retain or allocate any trophies won by the horse at their absolute discretion. Owner s can order a replica trophy (at their own cost) by contacting the relevant race club. 6 Ongoing Costs, Fees and Entitlements 6.1 Estimated Average Monthly Cost Subscribers are contractually obliged to meet their percentage share of the expenses incurred throughout the Horse's racing career whilst they remain the Owner of that share. The Estimated Average Monthly Cost of ownership is $180 per 5% Share. This estimate covers the expected maintenance, training and racing costs of the Horse as well as agistment fees, but excludes extraordinary expenses (as discussed below). The following general and routine expenses are included in the Estimated Average Monthly Fee: training and agistment; routine farrier, dentistry and veterinarian services; physiotherapy, chiropractic and equissage therapies; transport services; and race nominations and acceptances for all non- feature races. Actual monthly payments will vary from month to month. Lindsay Park Racing s daily training rate is currently $ plus GST. A full copy of the schedule of rates is included in the Lindsay Park Racing Thoroughbred Agistment, Training and Transport Agreement, which can be found at Extraordinary expenses The Anticipated Monthly Cost does not include extraordinary expenses such as; veterinary fees relating to surgery and injury rehabilitation; abnormal farrier and dentistry services; major race nomination and acceptance fees; bonus scheme nomination fees; and transport and ancillary costs for any interstate or international travel. These costs will be payable by Owners if and when occurred. 6.3 Management fee There are no management fees for the Racing Manager. 6.4 Commencement of payments All costs incurred from 1- Oct will be charged to successful subscribers to this Offer, pro rata based on each subscriber s shareholding. 6.5 Other fees and entitlements An incentive payment of 3% of first place prizemoney will be payable to the Trainer. If the Horse or Share in the Horse is sold whilst in the care of the Trainer, or within a period of 60 days following the transfer of the Horse from the Trainer, a commission of 5% of the sale price less any expenses directly relating to the sale of the Horse, will be payable to the Trainer. If the horse is retired and deemed suitable as a stallion, the Trainer is entitled to 2 Lifetime Service right(s) that survive beyond the life of this Syndicate and must be a condition of any future sale to third parties. 6.6 Invoicing Each owner will receive itemised monthly invoices (via ) within 7-14 days after the end of the month. Payment terms are strictly 30 days after invoice date. The preferred method of payment is via credit card. If an Owner wishes to take advantage of the automatic credit card payment for their ongoing fees the Racing Manager will request the completion of a Credit Card Authorisation Form. Lindsay Park Racing offers to absorb the merchant fee charges (Visa and Mastercard only). 6.7 Defaulting Owners If an Owner has not paid any amount so payable 30 days after the due date, then Lindsay Park Racing may serve upon them written notice demanding payment be made within 7 days. If 7 days after notice is given, the amount due remains unpaid, then the Owner, by default, relinquishes any interest or part- interest in the Horse and Lindsay Park Racing may offer the share (of the defaulting Owner) for sale to other Owners in the Horse. If none of the Owners accept the offer, the share may be offered for public sale. Should the sale of the defaulting Owner s Share(s) not realise the full amount owing to Lindsay Park Racing, the defaulting Owner remains liable for the balance owning. Copyright Kinematic Thoroughbred Services Pty Ltd Page 7 of 14

8 Where an Owner defaults under the Terms of this PDS, Lindsay Park Racing may retain possession of the Horse and the registration or identification papers for the Horse until such default has been remedied. The Owner agrees that under no circumstance will a Horse or registration or identification paper be released until all monies owing to Lindsay Park Racing have been paid and until all defaults have been remedied. In the event of an Owner s default: a) Lindsay Park Racingwill continue to care for the Horse but may elect to cease providing training services. b) Lindsay Park Racing may refuse to nominate the Horse for any race. The Owner is liable for all costs associated with and incurred by Lindsay Park Racing in the attempt to recover any amount owing, including any interest charged on overdue amounts at 12% per annum. 7 Benefits 7.1 Ongoing Communications Lindsay Park Racing s communication system delivers updates via a voice message or video, sent directly to each Owner s inbox. These updates usually come directly from David Hayes or Tom Dabernig Owners will be advised when the Horse comes into training, and once the horse progresses through the initial base fitness stage of training (approximately four weeks). Once the horse starts some faster work, updates will become quite regular (usually every 7-10 days). Once your horse has accepted for a race, Owners will receive an with the full field and form, along with other information including the jockey, race time, barrier etc. The race results and in most cases, a link to a video of the race, will be automatically ed to Owners as soon as they become available. Owners are of course welcome to discuss their horses with David Hayes, Tom Dabernig or key members of the Lindsay Park Racing team. 7.2 Ownership privileges Owners with a 5% Share or greater, will enjoy the following privileges when your horse is running: Your name in the race book; Free entry for the Owner and one guest, racebook, and access to an Owners car park, subject to availability; Access to the members area and mounting yard pre and post race, subject to availability; Grandstand seating for the race in which your horse is engaged, subject to availability; Access to designated post- race hospitality areas including refreshments. The above privileges are listed on the Racing Victoria website and are at the discretion of the individual race clubs. Any ticketing enquiries should be made directly to the individual race club. As a registered Owner you will receive an annual Owners Gold Card from Racing Victoria to enable the above privileges. 7.3 Prizemoney distributions Prizemoney, bonus and incentive scheme payments will be distributed directly to you, in proportion with the number of Shares held, via the racing authorities stakes payment system. These payments are made after deduction of the standard entitlements to the Trainer and Jockey. Distributions will be paid directly to your nominated bank account, or by cheque if you do not nominate a bank account. Each authority may have different processes and timings for payments, but you can expect them to occur approximately days after the race in which your horse won prizemoney. 7.4 Stable visits Owners are welcome to inspect their Horse or attend trackwork by appointment with the Racing Manager. 8 Risk There is no assurance of performance or an increase in value of the Horse. Not all thoroughbreds proceed to become racehorses and start in a race. Of those that race, not all racehorses win or earn prize money. No guarantees can ever be given that any Horse offered is assured of any racetrack success. Racehorses can be injured and sometimes require recuperation periods which can be expensive and lengthy, or may be unable to race again. A very high percentage of male racehorses are gelded for various reasons. No guarantees are given that any male racehorse will not be gelded. As a result, with the exception of well- bred and highly performed entire horses suitable to become stallions at stud, male racehorses are unlikely to have any significant value at the end of their racing career. The Seller, Trainer, Racing Manager and us will not be liable to the Owners in the event of either the death of the horse or its value being diminished as a consequence of accident, injury, disease, or a failure to either compete in or win races. Copyright Kinematic Thoroughbred Services Pty Ltd Page 8 of 14

9 9 Dispute Management Any dispute relating to the training or welfare of the Horse, or management of the Horse s career or the Syndicate, shall be handled by the Racing Manager. If you feel your complaint has not been satisfactorily resolved you are entitled to make a complaint to Racing Victoria. If you have a question or complaint about any aspect of your subscription or financial interest in the Syndicate, you can contact us by one of the following means: Post: PO Box 48, Moonee Vale, VIC Andrew@kinematicthoroughbreds.com.au Phone: We are a member of the Financial Ombudsman Service (FOS), for independent complaints resolution. Our membership number is If you feel your complaint has not been satisfactorily resolved you are entitled to lodge a complaint with: Financial Ombudsman Service Limited: GPO Box 3, MELBOURNE VIC Application Process 10.1 Application Form You can apply for a share interest in the Colt by sending a signed Application Form (appended to this PDS) to Kinematic Thoroughbred Services Pty Ltd Payment Post: PO Box 48, Moonee Vale, VIC 3055 Scan & (preferred): Andrew@KinematicThoroughbreds.com.au Applications must also be accompanied by a payment of $8,100 per 5% share, into the following trust account. Bank: Commonwealth Bank BSB: Acc: Name: Kinematic Lindsay Park Trust Reference: (Last name and contact number) Alternatively, you can mail a not negotiable cheque made out to Kinematic Thoroughbred Services Pty Ltd Trust, or request us to contact you to pay by Credit Card (fees apply) Cooling off period Applicants have a right to Cool- off (cancel the purchase of the Share or Shares applied for) by notifying us in writing (by ) within the Cooling- Off Period. This period commences on the day application payment is received by us, and ceases at 5pm on the fifth calendar day following Application Acceptance and Ownership Title Applications are only accepted once the Application Form and Application Payment are received. We reserve the right to decline any application. Monies received for applications that are not accepted will be returned. Ownership title, benefit and risk passes to the Applicant upon expiration of the Cooling Off period and upon us issuing an Application Acceptance notice, notwithstanding that the Registration/Transfer of Ownership documents may not yet have been lodged with or processed by the Registrar of Racehorses/Racing Victoria. Lindsay Park Racing agree to retain any unsubscribed shares. 11 Promoter s Declaration!! I, Andrew Paul Jarvis, Director of Kinematic Thoroughbreds Pty Ltd, declare that I have prepared this PDS in accordance with ASIC s Class Order [02/319] and Regulatory Guide 91 and the Rules of Racing, for the purposes of offering to the public interests in this Syndicate to race the Horse. I further declare that: a) the contents of this PDS are true and correct and that there are no misleading or deceptive statements or omissions, and b) this PDS contains all information which potential investors and their advisers would require and reasonably expect to find in the PDS for the purpose of making an informed assessment of the financial merits and prospects of an investment in the scheme.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Andrew!Paul!Jarvis!!!!!!!!!!!!!!!!!!!! Director,!Kinematic!Thoroughbred!Services!Pty!Ltd! Copyright Kinematic Thoroughbred Services Pty Ltd Page 9 of 14

10 Appendices Lindsay Park Racing Agreement to Train Copyright Kinematic Thoroughbred Services Pty Ltd Page 10 of 14

11 Certificate of Insurance Copyright Kinematic Thoroughbred Services Pty Ltd Page 11 of 14

12 Copyright Kinematic Thoroughbred Services Pty Ltd Page 12 of 14

13 Vet Certificate Copyright Kinematic Thoroughbred Services Pty Ltd Page 13 of 14

14 Application Form Horse: Unnamed Bay Colt by Stratum from Abazan foaled 20- Nov I hereby apply to purchase share(s), being % of the total shareholding, at a cost of $ Part A Applicant Title Given Names Surname DOB (dd/mm/yy) / / Part B If applying in the name of a Syndicate Is Syndicate registered in VIC? Registered or Proposed Syndicate Name Part C If applying in the name of a Company, Firm or Stud Business Name Part D Contact Details and Proof of Identity Residential Suburb State Post Code Postal Address (if different) Suburb State Post Code Daytime Phone Mobile Fax Driver s Licence Number or Passport Number or Other (please specify) Part E Bank Account Details for payment of prizemoney from Racing Authority Bank BSB Account Number Account Name GST registered for racing purposes? Y / N If Yes, please provide ABN Part F Payment Details I have paid via EFT I have enclosed a Cheque Please call me to arrange Credit Card payment I agree and declare that: I am over the age of eighteen years and agree to be bound by the terms and conditions of this PDS, the Training Agreement, and the Australian and Local Rules of Racing; I am not under any disqualification or other disability under the Rules of Racing, and I am not an undischarged bankrupt; I have not been convicted of, or have a pending charge against me for, any offence involving violence against a person or dishonest or criminal activity in the past ten (10) years; No representation or warranty has been made by any party in respect of either the realisation of benefits in racing the Horse; the future success of the Horse for racing; or the future value or saleability of the Horse or a Share(s) in the Horse; I authorise the Promoter to release application monies from the nominated Trust Account to Lindsay Park Racing after the end of the Cooling- Off Period, transferring ownership title, benefit and risk to me from that time. I authorise Jason Timperley (Racing Manager) to sign the HORSE REGISTRATION and/or TRANSFER OF OWNERSHIP (if the horse is already registered) form/s on my behalf for this horse. Signed: Date (dd/mm/yy): / / Copyright Kinematic Thoroughbred Services Pty Ltd Page 14 of 14