- Release Date: 04/12/15 10:47
- Summary: GENERAL: ALF: Purchase of Shares in NZ Farmers Livestock Livestock
- Price Sensitive: No
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ALF 04/12/2015 10:47 GENERAL NOT PRICE SENSITIVE REL: 1047 HRS Allied Farmers Limited GENERAL: ALF: Purchase of Shares in NZ Farmers Livestock Livestock [email protected] 4 December 2015 Allied Farmers (NZX: ALF) is pleased to announce that its wholly owned subsidiary, Allied Farmers Rural Limited (AFRL), has completed an agreement with Stockmans Holdings Limited (Stockmans) to purchase 950 shares in NZ Farmers Livestock Limited (NZFL) for a purchase price of $1 million (Transaction). 950 shares represents 9.26 percent of the total NZFL shares on issue. The Transaction was announced on 3 November 2015, and one of the conditions of the Transaction was shareholder approval. This approval was given at the Annual Meeting held on 24 November 2015. The purchase price was satisfied by the issue of 19,267,822 ALF new ordinary shares at $0.0519 per share to Stockmans, being the 20 day volume weighted average price of ALF's shares one business day prior to 2 November 2015. Chairman, Garry Bluett stated "that the Board considered this was a positive step for Allied. It gets the shareholding in and earnings from NZFL close to where they were before Allied had to sell shares to fund the Crown Asset Management repayment. It does not use up cash resources or impose additional debt and it will be beneficial to have key personnel as significant shareholders in the company going forward" Garry Bluett Chairman End CA:00274649 For:ALF Type:GENERAL Time:2015-12-04 10:47:44
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