Name of Promoter: Matthew Cruickshank
Address of Promoter: P.O Box 133228, Eastridge, Auckland
Manager or Directors: Matthew Cruickshank – Stride Racing
Bankers: BNZ
The Stride Racing Club (SRC) Syndicate will race three horses on lease as a recreational activity.
The horses covered by this Disclosure Statement are of racing age and expected to race in the 2021/2022 racing season.
The Syndicate will lease 25% of each of the horses with the remaining 75% remaining with the Lessor or other lessees. There will be 250 members in the Syndicate meaning each member will have .001 leasehold share in each of the three horses. The fractional lease shares are designed to let members get a full owners’ experience and associated benefits at a very affordable cost.
Prizemoney will be apportioned in accordance with the shareholding, with the Syndicate sharing 25% of net stakes, and members sharing 1/250th of this. After every 12 months members will receive a summary of accounts. If the average balance per member is over $50 once all costs are covered, this amount will be paid to Syndicate members. If not, it’ll be held in account until the end of the next 12 month period. Members’ prizemoney entitlement and monthly expenses (via monthly subscription payment) will be calculated from the day they join.
$21 (incl GST) of the Stride Racing Club monthly subscription is allocated to the Stride Racing Club Syndicate which covers the racing component of the operation. This is apportioned as follows (GST incl):
Any funds left over after covering the expenses listed above will be used as a contingency to cover extra costs or as a travel fund to pay any expenses incurred travelling horses outside the region where they are trained.
All monies collected by the Stride Racing Club Syndicate will be deposited into a bank account specifically opened for the Syndicate.
Members will have access to standard owners’ privileges on race day, unless otherwise notified, as well as any additional benefits secured with individual racing clubs.
Members can terminate their membership at any time with 90 days’ notice. If the member paid an annual fee they’ll receive a refund for the amount of time remaining on their membership, less the 90 days’ notice. Any share of prizemoney earned or Syndicate surplus held will also be paid at this time.
If a horse retires or is deemed to have insufficient ability the Syndicate Manager will attempt to replace it with another horse from the Lessor or another stud. If a replacement can’t be found, per month Syndicate payments will be reduced by $7 (incl GST) per month, per horse.
Any unsold shares and associated expenses will be covered by Stride Group.
It is intended for the horses to race and be trained in New Zealand. However, if considered good enough they may be targeted at races in Australia.
The horses covered by this Disclosure Statement will be trained by Stephen Marsh, Ben Foote and Allan Sharrock.
Name | Louisiana Man |
Breeding (Sire / Dam) | Vadamos / Cajun Two Step |
Sex | Gelding |
Foaling Year | 2018 |
Microchip Number | 985125000104354 |
Left Brand Mark | NS |
Right Brand Mark | 7 Over 8 |
Leased Bloodstock | |
Lessor | Greg Tomlinson |
Term of Lease | Three years and 4 months |
Right of Purchase (ROP) | NO |
If ROP the Exercise Price | N/A |
Name | He's The Man |
Breeding (Sire / Dam) | Snitzel / Sharvasti |
Sex | Gelding |
Foaling Year | 2016 |
Microchip Number | 985100012108746 |
Left Brand Mark | LA |
Right Brand Mark | 2 Over 6 |
Leased Bloodstock | |
Lessor | Little Avondale Stud Ltd |
Term of Lease | 7 months |
Right of Purchase (ROP) | NO |
If ROP the Exercise Price | N/A |
Name | To be named |
Breeding (Sire / Dam) | Per Incanto / World Away |
Sex | Filly |
Foaling Year | 2019 |
Microchip Number | 985125000105835 |
Left Brand Mark | LA |
Right Brand Mark | 51 Over 9 |
Leased Bloodstock | |
Lessor | Little Avondale Stud Ltd |
Term of Lease | 3 years, 6 months |
Right of Purchase (ROP) | NO |
If ROP the Exercise Price | N/A |
If a horse does not show sufficient ability to be persevered with as a racing proposition, at the discretion of the Manager it may be returned to the lessor with 30 days written notice
All upfront costs will be covered by the Lessor until the Syndicate is formed on 1st December 2020.
Syndicate Members will pay a monthly fee of $21 (incl GST) allocated from their SRC membership subscription. This amount can be revised with 90 days’ notice if expenses increase over time.
Below are some of the standard costs (per horse) incurred when horses are in training – subject to change without notice (all costs are exclusive of GST):
Leased horses are insured by the Lessors and members will not receive any monies received as part of an insurance claim.
N/A – Horses leased only.
The veterinary reports are not attached. Copies of the veterinary reports may be obtained by requesting a copy from NZ Thoroughbred Racing (syndication@nzracing.co.nz).
This Disclosure statement is governed by the attached Syndicate agreement (The Syndicate Rules). Members should read this document and request legal advice if necessary.
Matthew Cruickshank is an Authorised Syndicator under a Code of Practice administered by New Zealand Thoroughbred Racing Inc. New Zealand Thoroughbred Racing Inc. does not endorse nor does it guarantee the success or otherwise of the offer made under this Disclosure Statement and accepts no responsibility whatsoever for any statements or representations made in this Disclosure Statement or for any loss or liability arising from participation in the offer.
The Syndicate Promoter, and any Manager appointed by the Syndicate Promoter as stated above, agrees to observe and comply with this Disclosure Statement and any associated Governing Documents.
Promoter: Matthew Cruickshank
Signature:
Date: 1 December 2020
Manager: Stride Racing – Matthew Cruickshank
Signature:
Date: 1 December 2020
This Disclosure Statement and all related documentation may be inspected at the premises of New Zealand Thoroughbred Racing (106-110 Jackson Street, Petone) or a copy may be requested by writing to PO Box 38 386, Wellington Mail Centre or by emailing syndication@nzracing.co.nz.