NZ Rural Land Company – $44.3 million Rights Offer
Allied Farmers Ltd
201 Broadway, Stratford, 4332
PO Box 304, Stratford 4352
Phone: 06 765 6199
Web: http://www.alliedfarmers.co.nz
Email: headoffice@alliedfarmers.co.nz
24 May 2021
announce@nzx.com
NZ Rural Land Company Limited – $44.3 million Rights Offer
Allied Farmers Limited (“Allied Farmers” NZX: ALF) is pleased to note the
announcement today by New Zealand Rural Land Company Limited (NZX: NZL) of a
capital raising of $44.3 million by way of a 2 for 3 pro-rata renounceable rights offer
(Rights Offer).
Allied Farmers owns a 50 percent interest in New Zealand Rural Land Management
Limited Partnership (NZRLM), which is the external manager of NZL.
The NZL Management Agreement permits NZRLM to charge the fees described in
Allied Farmers’s NZX announcement on 30 April 2021.
NZL has advised that a proportion of the Rights Offer proceeds will be used by NZL
to reduce debt and provide further cash for acquisitions as NZL looks to continue its
growth as a landowner in the New Zealand rural sector.
Because the level of fees payable to NZRLM by NZL increases with additional
acquisitions that increase the level of NZL’s assets under management, the Rights
Offer should ultimately have a positive impact on ALF’s earnings from NZRLM.
Richard Perry
Chair
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- NZL — New Zealand Rural Land Company Limited: NZRLC announces a $44.3 million Rights Offer2021-05-24
“The Blade, Level 4, 12 St Marks Road, Remuera, Auckland, 1050, New Zealand | +64 9 379 6493 www.nzrlc.co.nz NEW ZEALAND Rural Land Co WWW.NZRLC.CO.NZ NZX Announcement 24 May 2021 New Zealand Rural Land Company announces $44.3 million Rights Offer New Zealand Rural Land Co…”
- NZL — New Zealand Rural Land Company Limited: Allotment of Rights Issue2021-06-28
“The Blade, Level 4, 12 St Marks Road, Remuera, Auckland, 1050, New Zealand | +64 9 379 6493 www.nzrlc.co.nz NEW ZEALAND Rural Land Co WWW.NZRLC.CO.NZ NZX Announcement 28 June 2021 Allotment of Rights Issue New Zealand Rural Land Company Limited (NZL.NZX) is pleased to…”
- NZL — New Zealand Rural Land Company Limited: Conference Call Details & Presentation2021-06-10
“13 NZL: Rights Issue - 2:3 @ $1.10 • NZL is undertaking a 2:3 rights issue @ $1.10 to raise $44.33M to reduce debt back to an internal policy target of a loan to value ratio of approximately 30% and also enable NZL to capitalise on a strong pipeline of potential acquisitions. •…”