WAF Limited – Unsolicited Offer

30
th
August 2023
WAF Limited – Unsolicited Offer
Allied Farmers Limited (Allied) advises that WAF Limited (WAF) has no�fied its inten�on to write to
Allied shareholders with an unsolicited offer to purchase up to 1,650,000 shares in Allied at $0.715 per
share. This is a 3.5 cent, or 5.15%, premium to yesterday’s closing price for Allied shares of $0.68 per
share.
Recent VWAP’s (Volume Weighted Average Price) for Allied’s shares to 29 August 2023 are listed below:
• 5-Day VWAP $0.68 per share
• 20-Day VWAP $0.689 per share
WAF currently owns a 14.25% shareholding in Allied. WAF’s offer is for a maximum of 1,650,000 shares
out of Allied’s total shares on issue of 28,806,434. If WAF acquires the maximum number of shares under
the offer, its shareholding will increase to 19.99%.
WAF has advised there will be no brokerage payable by shareholders selling into the offer.
Allied recommends that shareholders who receive an offer from WAF should:
- read WAF’s disclosure document and terms of offer carefully and thoroughly;
- contact an authorised financial adviser; and
- check the most recent market price for Allied shares.
Shareholders are under no obliga�on to accept any offer or to take any ac�on in respect of the WAF
offer. Unsolicited share offers are subject to the Financial Markets Conduct Regula�ons 2014. Under
these regula�ons, unsolicited offers must be made within a clear and concise disclosure document that
outlines certain prescribed informa�on. Shareholders have the right to cancel any acceptance of the
offer up to 10 working days a�er the date of their acceptance.
If shareholders need or desire further advice on this mater we suggest they contact an authorised
financial adviser, a list of whom can be found on the Financial Markets Authority website
htp://fma.govt.nz/.
-ENDS-
For more informa�on, please contact:

Richard Milson
CEO, Allied Farmers
richard@nzrlm.co.nz
Ph. 021 274 2476