Horse Racing Syndicates to be promoted by Sire Custodians Ltd  during 2012 will typically comprise:-

10 shares;    20 shares;  or   50 shares.

A Financial Services Guide and Product Disclosure Statement (PDS) for each Syndicate being promoted by Sire Custodians Ltd is available upon request  for the consideration of prospective purchasers when deciding whether or not to acquire shares. All Syndicates promoted by Sire Custodians Ltd are also fully managed by Sire Custodians Ltd for the life of each syndicate.

Shareholder contributions to the Syndicate Trust Account on account of annual expenses for the period 1 July, 2011 to 30 June, 2012 are as follows:-

10 share syndicates - $2,000 on or before 1 July, 2012

    - $2,000 on or before 31 December, 2012

20 share syndicate - $1,000 or or before 1 July, 2012
    - $1,000 on or before 31 December, 2012

50 share syndicate - $1,000 on or before 1 July, 2012

All shareholder contributions during the life of each syndicate are banked to the Syndicate Trust Account and remain the property of shareholders until expended on syndicate expenses (agistment, training and racing, veterinary etc). Any surplus remaining in the Syndicate Trust Account upon termination of a syndicate is returned to Shareholders.

All prize money cheques are banked to the Syndicate Trust Account and distributed to shareholders pro rata as dividends.

Sire Custodians Ltd monitors and regularly reviews all syndicate expenses to ensure charges are fair and reasonable and that shareholders receive value for money from all service providers/contractors to each syndicate, including training fees charged by each syndicate trainer.

A full set of current Financial Accounts for each Syndicate is maintained by Sire Custodians Ltd and is subject to annual independent external audit. Copies of the audited annual accounts are forwarded to all Shareholders.

The estimated accounting and audit fees detailed in each Syndicate (PDS) are for services required by each Syndicate in order to satisfy the requirements of the Corporations Act and ASIC CO 02/319 relating to Horse Racing Syndicates.

Sire Custodians Ltd is committed to the ongoing professional management of each of its Horse Racing Syndicates, including the relationship of the shareholders in each syndicate with their trainer, in order to ensure that Shareholders receive maximum value and enjoyment from their investment. To that end, Sire Custodians Ltd seeks to avoid any potential conflict of interest between Shareholders and their trainer by prefering that the trainers of our syndicated horses do not participate as shareholders in their ownership.

Sire Custodians Ltd selects its trainers from the very best of them, and the ones which we consider will best service the needs of Shareholders.

Why do we charge management fees?