Sharechat Logo

Dairy Brands considers buyback

By Phil Boeyen, ShareChat Business News Editor

Monday 23rd July 2001

Text too small?
Corporate dairy farmer Dairy Brands is considering a share buyback in the wake of more farm sales.

The company says it has entered into conditional sale contracts for another 6 of the remaining 7 farms it owns, with the purchase price for all the farms priced at $28.75 million, plus stock and plant.

Settlement is expected at the end of next month.

"This sale exceeds earlier expectations of value for the company and reflects the strong performance of the dairy industry over recent months," the company says.

"It will finalise the sales process, which commenced earlier this year."

Four of the farms sold earlier will continue to be managed by the company until settlement in June next year.

Dairy Brands says it is evaluating whether to undertake a share buyback when the farms have been sold, as a means to return capital to shareholders, as generally approved by shareholders at a special general meeting in February.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Special Report: Greener Pastures For Rural Stocks