NZ Rural Land Management Purchase Completion

TRANSACT

Mon, Mar 27 2023 04:28 pm

27 March 2023

NZ Rural Land Management Purchase Completion

Allied Farmers Limited (ALF.NZX) is pleased to advise that it has today completed the purchase of the 50 percent of NZ Rural Land Management (NZRLM) that it does not already own.

NZRLM is now wholly owned and controlled by Allied Farmers.

The purchase price of $8.3 million was satisfied by payment to the vendors of $6.55 million of cash, and the transfer to the vendors of 1,800,227 million NZ Rural Land Company Limited (NZL:NZX) shares owned by Allied at their 20-day volume weighted average price prior to completion date of 0.9721 per share, being a total of $1.75 million.

Philip Luscombe and Shelley Ruha
Independent Directors