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- Release Date: 23/04/13 10:30
- Summary: ASSET: ALF: Sale of Real Estate Business
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ALF
23/04/2013 08:30
ASSET
REL: 0830 HRS Allied Farmers Limited
ASSET: ALF: Sale of Real Estate Business
23 April 2013
Sale of Real Estate Business
Allied Farmers Limited (ALF) advises that as part of its ongoing asset
sale/debt reduction process its wholly owned subsidiary, Allied Farmers Rural
Limited, has today sold its Taranaki based real estate business, Allied
Farmers First National, to Shawn Gibbon and Owen Mills for $472,500. Mr.
Gibbon manages Allied Farmers First National presently and Mr. Mills is one
of the company's senior sales staff and is also the Branch Manager of the
Allied Farmers First National Stratford office.
Mr Gibbon said that the decision to purchase the real-estate business was not
made lightly but was a good one for our salespeople, employees and our
clients alike. Allied Farmers real-estate business is a close group of
individuals and it was important to us to keep this team together, this
purchase guarantees this. We believe our clients also benefit as there will
be no change to the management structure or our sales team which leaves our
successful business model intact and positioned well to drive this business
forward.
Garry Bluett
Chairman
End CA:00235447 For:ALF Type:ASSET Time:2013-04-23 08:30:49
