ALF
29/06/2015 12:39
GENERAL
PRICE SENSITIVE
REL: 1239 HRS Allied Farmers Limited
GENERAL: ALF: Speirs Settlement and Notice of Allotment of Securities
SPEIRS SETTLEMENT
Allied Farmers Limited (ALF) is pleased to announce that Speirs Group Limited
(Speirs) and Allied have renegotiated the second and final tranche of an
amount owing to Speirs pursuant to a December 2013 settlement agreement.
Pursuant to that December 2013 agreement Speirs and ALF agreed to settle a
pre-existing $2 million obligation by:
(a) ALF issuing to Speirs 14,678,487 shares representing approximately
$528,000 of value; and
(b) ALF agreeing to pay to Speirs $500,000 on 30 April 2016.
The issue of the shares referred to in (a) above was completed on 30 January
2014. Speirs and ALF have today agreed to amend the terms of the settlement
of the $500,000 referred to in (b) above by ALF agreeing to pay $400,000 in
cash and issue 500,000 shares to Speirs (representing approximately $25,000
of value) on or before 30 June 2015. ALF advises that the both the cash
payment and the share issue are being made today, and the Notice of Allotment
of Shares is attached.
Garry Bluett
Chairman
NOTICE OF ALLOTMENT OF SECURITIES
For the purposes of rule 7.12.1 of the NZX Main Board Listing Rules ("Listing
Rules"), Allied Farmers Limited ("Allied") advises that the following
securities have been issued pursuant to a Settlement Agreement Amendment:
Class of Security and ISIN Ordinary Shares. ISIN NZALF0001S1
Number of Securities issued 500,000
Issue price Partial satisfaction of an obligation owed by
Allied Farmers.
Payment in cash Payment is part consideration for a settlement of an
obligation owing to Speirs Group Limited by
Allied Farmers.
Any amount paid up (if not in full) Fully paid up
Principal terms of the Securities Ranking equally with ordinary sharers on
issue
Percentage of total Class of Securities issued 0.39 percent
Reason for issue The issue is pursuant to the terms of a Deed
of Settlement Amendment between Allied Farmers and
Speirs Group Limited
Authority for issue Directors' resolution dated 25 June 2015
Terms of issue n/a
Total number of Securities of Class in existence after issue 125,830,925
ordinary shares.
Treasury Stock n/a
Date of issue 29 June 2015
Garry Bluett
Chairman
End CA:00266313 For:ALF Type:GENERAL Time:2015-06-29 12:39:28
