New Zealand Rural Land Company sells 25% of its portfolio.
1
19 January 2024
New Zealand Rural Land Company sells 25% of its portfolio.
Allied Farmers Limited (NZX.ALF) advises that New Zealand Rural Land Company (NZX.NZL) has today
announced the sale of 25% of its rural land portfolio to Australia-based Roc Partners.
See link to NZL’s announcement here: https://www.nzx.com/companies/NZL/announcements.
NZ Rural Land Management Limited Partnership (NZRLM), which is wholly owned by Allied Famers,
will continue to manage all of the portfolio of rural assets for both NZL and Roc Partners following the
sale.
In its role as Manager of the portfolio, NZRLM charges monitoring and asset management fees of
approximately 0.5% of Net Asset Value. The transaction will also result in a transaction fee to NZRLM
of 1.25%, a material amount of which is to recover transaction costs incurred by NZRLM. Together
these fees are likely to result in an approximately $1M increase in NZRLM’s, and therefore Allied
Farmers’s, income in FY2024.
NZL has signalled its intention to use the funds from the transaction for working capital while new
growth opportunities are investigated.
Shelley Ruha
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: Roc Partners Transaction Settlement2024-02-08
“E: info@nzrlc.co.nz | T: +64 9 217 2905 www.nzrlc.co.nz 9 February 2024 Market Update Roc Partners Transaction Settlement NZL is pleased to announce that the agreement to sell a 25% equity interest in its land portfolio to Roc Partners settled today for NZ$44.2m. NZL’s 19 J…”
- NZL — New Zealand Rural Land Company Limited: FY23 Results Announcement2024-02-28
“3 New Zealand Rural Land Company FY23 NPAT of $10.9m and AFFO of $6.0m NAV per share has grown from $1.250 at listing to $1.602 as at 31 December 2023, total returns have been +32.6% or +9.9% CAGR * AFFO has grown from 4.13 ** cps in FY22 to 4.35 cps (+5.4%) in FY23. AFFO for…”
- NZL — New Zealand Rural Land Company Limited: Sale of 25% Interest in Portfolio2024-01-18
“19 January 2024 Sale of 25% Interest in Portfolio New Zealand Rural Land Company Limited (NZX.NZL) is pleased to announce that it has entered into a conditional subscription agreement to sell a 25% equity interest in its land portfolio to an Australia based investment fund…”