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News: AYB Australian Natural Proteins secures agreement to purchase five farms

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    April 7 (Reuters) - Australian Natural Proteins Ltd (AYB) :

    • Has secured agreement to purchase the first of the 5 farms previously identified by GRS Foods
    • Arrangement involves leasing of current dairy herd valued at $1.8 million and purchase of land, water and machinery for $2.8 million
    • Board have also deemed it prudent to secure contracts with the other four farms
    • Company also advises that it has terminated its mandate with Icbc Capital Pty Ltd
    • Payments to be made by way of a combination of cash, debt and vendor finance
 
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