Ann: GENERAL: NFFHA: Settlement Agreement on Clas

• Release Date: 01/08/12 13:40
• Summary: GENERAL: NFFHA: Settlement Agreement on Class Action Proceedings
• Price Sensitive: No
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NFF
01/08/2012 11:40
GENERAL

REL: 1140 HRS Nufarm Finance (NZ) Limited

GENERAL: NFFHA: Settlement Agreement on Class Action Proceedings

Nufarm Limited has entered into a conditional settlement agreement in
relation to the class proceedings commenced by Maurice Blackburn and Slater &
Gordon in early 2011.  The settlement covers claims made on behalf of group
members who acquired shares during the period from September 2009 to August
2010.

The settlement agreement was reached today, 14 months before the scheduled
trial date in September 2013, as part of a court ordered mediation process.

Nufarm has agreed to pay $43.5 million, which covers the claims, interest,
the costs of the litigation funders and applicants' legal fees.  The
settlement is subject to court approval and, if court approval is obtained,
the class action will be dismissed without admission of liability by Nufarm.

The settlement payment will be recorded as a material item in Nufarm's
2011/12 full year accounts.

Nufarm Chairman Donald McGauchie said that in agreeing to the settlement, the
Nufarm Board carefully considered risks and costs associated with a
protracted litigation, and demand on management's time as the company
implements its strategic growth plans.

"We are pleased to put this matter behind us and have the company fully
focused on continuing to improve the operating performance of the business,"
Mr McGauchie said.

-- end --

Further information: Robert Reis
   Corporate Affairs
   [email protected]
   * (61 3) 9282 1177
End CA:00225542 For:NFF    Type:GENERAL    Time:2012-08-01 11:40:36