LIC
22/06/2015 11:13
ADDRESS
PRICE SENSITIVE
REL: 1113 HRS Livestock Improvement Corporation Limited (NS)
ADDRESS: LIC: LIC strategy and technology roadshow, 22-26 June
LIC strategy and technology roadshow, 22-26 June
Farmer-owned co-operative Livestock Improvement Corporation (NZX: LIC) will
visit nine towns around the country this week to update shareholders on
progress with its strategy and present some of the latest developments in
technology solutions.
Please see the attached presentation which covers an update on LIC's
strategy, financial position and investments.
The strategy, Toward 2025, includes a vision to improve the prosperity and
productivity of its farmers, and a goal to deliver service and solutions for
farmers which enable LIC to be a $1 billion co-operative by 2025.
At the roadshow events, LIC will explain how new debt facilities are being
put in place to support growth and allow for sufficient capital investment in
back-end systems to deliver new products and services to farmers.
The key points which will be covered are:
oCapital spend is expected to continue at around $25-35million per annum
until 2020
oLIC is looking to establish a $50 million term and $75 million seasonal debt
facilities for 2015
oFurther capital may be required in early 2017 to enable LIC to deliver on
its strategy
oPotential equity funding required by 2025 is estimated to be in the region
of $140 million
As a farmer-owned co-operative, all LIC profit is returned to its farmer
shareholders through research and development, dividends and new products and
services.
More information about the roadshow is available on the LIC website:
http://www.lic.co.nz/lic_News_Archive.cfm?nid=569
ENDS
Contact: Ashleigh Sattler, LIC Senior Communications Advisor, 0276171942,
[email protected]
About LIC
LIC is a farmer-owned co-operative that provides a range of services and
solutions to improve the productivity and prosperity of farmers. This
includes dairy genetics, information technology, herd testing, diagnostics
and DNA parentage verification. Subsidiary business LIC Automation also
provide innovative and integrated automation and sensor technology systems
that present real-time data while a cow is being milked.
With origins dating back to 1909, LIC has a long history of providing world
and industry-leading innovations. Today the New Zealand-based co-op employs
more than 800 permanent staff, swelling to 2000 during the peak dairy mating
season. LIC also has offices in United Kingdom, Ireland, Australia, and
Brazil.
With annual revenue in excess of $200 million, all LIC profit is returned to
its farmer owners/shareholders in products, research and development or
dividends.
More information: www.lic.co.nz
End CA:00265978 For:LIC Type:ADDRESS Time:2015-06-22 11:13:24
