Allied Farmers granted waiver for $1.2M loan for bobby calf business

Wed, 25 Jul 2012

July 25 (BusinessDesk) - Allied Farmers, the company whose market value was all but wiped out when it acquired the financial assets of Hanover Finance, has been granted a waiver to borrow up to $1.2 million for the operations of its bobby calf venture. The waiver, granted by NZX Markets Supervision, was required because the loan would exceed 10 percent of Allied’s average market capitalisation of about $2.5 million and would have needed approval of shareholders. The loan, or working capital facility, would be from Garry Bluett and Brian Trai...

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