NZ Rural Land Management earnings contribution – update

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

26 August 2021

announce@nzx.com


New Zealand Rural Land Management Earnings Contribution - Further Update
On 2 August 2021 Allied Farmers Limited (“Allied Farmers” NZX: ALF) advised,
subject to any final audit adjustments, that the attributable earnings (including the
performance fee) from New Zealand Rural Land Management Limited Partnership
(NZRLM) for FY21 will be approximately $1.1 million.
Allied Farmers’ notes the market update today from New Zealand Rural Land
Company Limited (NZL.NZX) that, as a result of a positive adjustment to its net asset
value during its audit process, a performance fee of $1.625 million has been
calculated as payable to NZRLM for the period ending 30 June 2021. This will be
satisfied in new NZL shares at approximately $1.3968 per share. The previously
advised un-audited net asset value per share was $1.3351 per share.
Consequently, Allied Farmers confirms, subject to audit, that the attributable
earnings for FY21 (including the performance fee and after a mark-to-market
valuation of the NZL shares yet to be issued) is approximately $1.16 million.
Further details, including Allied Farmers’ group full FY21 results, will be provided in
its Results Announcement scheduled to be released on Monday, 30 August 2021.

Richard Perry
Chair