The directors of First Tuesday Racing would like to advise you of some exciting developments for our company and clients.

Over the last four months we have given lengthy consideration regarding how we can best take advantage of the great buying opportunities in 2009 whilst at the same time strengthening our business in the current economic environment.

As you are aware at First Tuesday we have always aimed to differentiate ourselves from mainstream syndicators. We consider ourselves a bloodstock business and in doing so always aim to broaden and enhance our offering of services.

Adding scope and size to our business so as to better service the needs of our clients prompted us to approach Blue Sky Thoroughbreds last year to discuss the possibility of merger.

As of this week the Directors of both companies have signed off on a Heads of Agreement that will see our two companies joining forces to create a dynamic new Thoroughbred Consulting and Management business.

Established in 2005 by Mark Sowerby and Julian Blaxland, Blue Sky Thoroughbreds offers a full range of thoroughbred related services ranging from advice on buying and selling, the management of racing stock as well as advice on breeding. 

The Blue Sky team has been pioneering the concept of racing funds, including a stallion fund backed by Arrowfield Stud, and a filly fund that has generated the likes of stakes winner She’s Meaner, runner up in the $1.5m 2008 Magic Millions 2YO Classic in 2008. The key point of difference with the racing funds is that funds are collected in advance of the sales. (For more information on Blue Sky Thoroughbreds please visit www.blueskythoroughbreds.com.au )

Through the merger the new company will also be maintaining our great relationship with Lindsay Park Racing in the Eastern States and Neville Parnham in WA. Blue Sky's Bloodstock Manager Julian Blaxland will be working with David Hayes, Mark Pilkington and Neville Parnham to buy a select group of yearlings for David and Neville to train in 2009.

The plan is to buy approximately five horses for syndication this year which is considerably less than in previous years. In addition, our clients will have access to Blue Sky's filly, racing and stallion funds. Whilst we will be purchasing less horses for syndication we are certain that this year will represent some of the best value for money buying in almost two decades (particularly given that prizemoney levels in most states are increasing).

The integration of the two companies will roll out from next week based on a plan signed off on by all parties yesterday. As part of the plan Sam Hayes will join the board of the merged entity which will trade as Blue Sky Thoroughbreds. Sam will be joining fellow Directors Danny Burke (Chairman), Mark Sowerby and Julian Blaxland.  

Sophia Siroky will maintain her administrative role and will play an important function in the integration of our businesses. The addition of Sophia to Blue Sky's team of Damien Toose (General Manger) Julian Blaxland (Bloodstock Manager) and Sophie Haydon (Office Manager) will create a strong platform of skilled people that can add a great deal of value to your experience in the "Sport of Kings".

The only downside in creating the new business is that we will be losing Nick Howell from the group. Nick has been with First Tuesday since May, 2008 and we would like to thank Nick for all of his efforts in 2008. We wish Nick all the very best in 2009. We will no doubt be enjoying his company at the races for many years to come.

From February 1, 2008 Julian Blaxland will become your primary point of contact with regards to those horses currently in training. Sophia will also be available in the Melbourne office and in Western Australia we are fortunate to be represented by John Gucciano (shareholder in BST) whom will be working closely with Neville Parnham to keep you informed of those horses in training in WA. Another partner in Blue Sky Thoroughbreds, John Foss, formally from WA will also be based out of Melbourne from February of this year.

Julian Blaxland will be inspecting all of First Tuesday's racehorses over the ensuing weeks. At the same time he will be making contact with each of you to talk about your horses as well as your individual needs.

In 2009 Sam Hayes and Michael French (0403 315 166) will be the primary contacts for those of you wishing to take in interest in one of the handful of yearlings selected by our team at the upcoming yearling sales. Please feel free to forward any expressions on interest to Sam Hayes at samhayes@lindsaypark.com.au or 0438 767 227.

We are looking forward to introducing you to our new look team in 2009. The strength of the new company is really under pinned by a great team of people that share our values and passion for racing.

Now, more than ever, our success as a business will be measured against your success on the race track as well as the degree to which you are enjoying the thrill of owning a racehorse.

Thanks for your ongoing support.

First Tuesday Directors

Sam Hayes, Darren Thomas, Michael French.