LIC farmer-owners to get slice of $18.5m National Milk Records sale

(Image: LIC)

Fri, 26 Jan 2024

Livestock Improvement Corporation’s farmer-shareholders are set to get a slice of proceeds from the sale of the co-operative’s English business.Seven years ago, Livestock Improvement Corporation (LIC) upped its stake in National Milk Records (NMR) from 2.6% after agreeing to subscribe for shares to allow the UK farm management recording services fund its exit from a pension fund.It saw LIC purchase 4 million shares at 65 pence apiece or £2.6m (NZ$5.4m, at today's exchange rates).However, last year, the New Zealan...

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