Please explain this to me... i.e. Futuris planned sale.
Company Limited (‘AAco’) notes today’s announcement by Futuris Corporation Limited (‘Futuris’) in relation to the planned sale of its 43% shareholding in AAco. AAco is currently in dialogue with Futuris in relation to the planned sale, and the Board will continue to keep shareholders updated on progress. AAco’s independent directors will continue to work at all times in the long term interests of all shareholders.
The AAco Board has today established strict protocols to ensure appropriate participation by Directors associated with Futuris in future matters. A new Board Committee of independent Directors has been formed, comprising Nick Burton Taylor, Chris Roberts, Greg Paramor and Don Mackay. This Board Committee will handle all matters relating to today’s announcement. AAco has also appointed JPMorgan as financial advisor, Mallesons Stephen Jaques as legal advisor and Cannings as communications advisor to assist the Board.
About AAco
AAco is a unique Australian business and is the only listed company providing direct exposure to the production of clean, high grade beef and broad scale land ownership. Operating since 1824, AAco’s unrivalled assets include 631,000 beef cattle, 24 cattle stations, 2 feedlots and 7,958,954 hectares of land, representing approximately 1.2% of Australia’s land mass.
Media contact:
Cannings - (02) 9252 0622
Martin Debelle - 0409 911 189
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