Brief: Farm Pride Foods Enters Contract With Hall & Mclean

Farm Pride Foods

16/02/2021 01:08

Feb 16 (Reuters) - Farm Pride Foods Ltd  FRM.AX :
    * AGRICULTURE VICTORIA ISSUED A REVOCATION OF QUARANTINE
NOTICE
FOR TWO OF CO'S FARMS
    * DETERMINED FARM IN PITTSWORTH, QUEENSLAND, IS NO LONGER A
CORE
ASSET
    * RESTOCKING PROGRAM FOR TWO FARMS WILL NOW BE STARTED AS
QUICKLY
AS POSSIBLE TO ALLOW A FULL RETURN TO PRODUCTION
    * RESOLVED TO OFFER PITTSWORTH FARM FOR SALE THROUGH OPEN
MARKET
EXPRESSION OF INTEREST PROCESS
    * UNCONDITIONAL CONTRACT ENTERED INTO WITH HALL & MCLEAN PTY
PURCHASE FARM AND ASSOCIATED ASSETS
    * SETTLEMENT PROCEEDS ARE $3.1M EXCLUDING EXPENSES
    * TO UNDERTAKE MORE ACTION TO STRENGTHEN WORKING CAPITAL VIA
REALISING VALUE IN BALANCE SHEET, IN PARTICULAR PROPERTY
PORTFOLIO

Source: https://bit.ly/3aoWASS
Further company coverage:  FRM.AX 

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