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  1. #1
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    Default Rural Equities Limited (REL)

    RURAL EQUITIES LIMITED RESULT FOR THE YEAR ENDED 30 JUNE 2010

    http://www.unlisted.co.nz/uPublic/un...cement_id=1761

  2. #2
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    RURAL EQUITIES LIMITED - 2010 ANNUAL REPORT

    The Rural Equities Limited 2010 Annual Report, containing the Group’s financial statements for the year ended 30 June 2010, will be sent to shareholders on 7 October 2010.

    A copy of the 2010 Annual Report can be viewed on the Company’s website http://www.ruralequities.co.nz or a hard copy can be requested from the Company by email (enquiries@ruralequities.co.nz).

    James Wright – Chief Operating Officer – 06-870 4672

  3. #3
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    RURAL EQUITIES LIMITED “REL”

    We have been advised that a limited number of REL Shareholders have received offer letters to purchase their REL shares at a price of $2.60 per share. This offer is at a significant discount to the current market price which is in excess of $3.00 per share. The Board strongly recommend that Shareholders consult their financial advisers before taking any action with respect to this offer.

    Issued by James Wright, Chief Operating Officer, Rural Equities Limited
    Phone – 06 - 870 4672


    http://www.unlisted.co.nz/uPublic/un...cement_id=1784

  4. #4
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    Quote Originally Posted by Armillary Private Capital View Post
    RURAL EQUITIES LIMITED RESULT FOR THE YEAR ENDED 30 JUNE 2010
    So that's another year of losses, which are being supported by:
    - sale of assets (Fox's Peak in Sth Island)
    - current low debt to asset ratio (12.5%).

    All this despite a high milk price. What is REL going to do to get to profitability?

  5. #5
    percy
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    Quote Originally Posted by JayPe View Post
    So that's another year of losses, which are being supported by:
    - sale of assets (Fox's Peak in Sth Island)
    - current low debt to asset ratio (12.5%).

    All this despite a high milk price. What is REL going to do to get to profitability?
    I have just read the annual report.I thought it was very good.The statement of cash flow was very positive,and I feel this is more important than the asset value right downs.The improvements they are making to farms and the improving out look for farms, make this a sound company to invest in.The NTA is shown at $3.82 and with last share sale at $3.11 there looks to be a good safety margin.

  6. #6
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    RURAL EQUITIES LIMITED - ANNUAL MEETING

    Copy of the address made by Sir Selwyn Cushing to the Rural Equities Limited Annual Meeting in Hastings on 26 November 2010.

    Issued by James Wright, Chief operating Officer Rural Equities Limited

    http://www.unlisted.co.nz/uPublic/un...cement_id=1808

  7. #7
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    RURAL EQUITIES LIMITED - MARKET UPDATE

    Christchurch earthquake

    The Directors and management of Rural Equities Limited (REL) express their deepest sympathies to all those affected by the devastating earthquake in Christchurch on 22 February 2011 - in particular to the many REL shareholders who live in Christchurch and the surrounding area.

    The Group’s properties within the region suffered only minimal damage. At this stage it appears damage was limited to minor structural damage to houses at Barry’s Bay (Banks Peninsula) and the Rocklea dairy farm (near Methven). A full inspection of all the improvements on the Group’s properties in the affected area will be completed over the coming month and claims submitted where necessary. All buildings are fully insured and eligible for cover from the Earthquake Commission.

    There were no injuries or disruption to business on the Group’s properties.

    Annandale homestead fire

    On 7 February 2011 the Annandale homestead (near Hamilton) was destroyed by fire. The fire is thought to have started as a result of an electrical fault in a water pump. No one was injured in the fire.

    The homestead was surplus to requirements at the Annandale property and has been leased to external tenants since the Group took over direct management of the property in 2009.

    The homestead was insured for full replacement value.

    Dividends

    Following the merger of the New Zealand Rural Property Trust and REL a special dividend of 5.5 cents per share was paid to shareholders on 29 January 2010. That dividend utilised the majority of the Group’s imputation credits.

    The Group has significant tax losses available to offset future profits. These losses will be sufficient to offset the Group taxation liabilities with respect to the financial year ending 30 June 2011. At this stage it is anticipated that tax losses will be available to materially offset taxation liabilities in the financial year ending 30 June 2012.

    The Group continues its capital development programme investing in its existing properties to create value. The Rocklea irrigation conversion project will be completed during the winter and the substantial capital development programme on the Waikato properties is continuing.

    As a consequence of the funds that will be required for the Group’s ongoing capital expenditure programme and insufficient imputation credits being available, the Directors advise that no dividend will be paid for the financial year ending 30 June 2011.


    Issued by : James Wright – Chief Operating Officer - 06-870 4672

    http://www.unlisted.co.nz/uPublic/un...cement_id=1828

  8. #8
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    RURAL EQUITIES LIMITED - General Announcement

    The Directors of RotoruaTrust Perpetual Capital Fund Limited advise that theyhave sold 1,000,000 shares in Rural Equities Limited at $3.27, for a total consideration of $3,270,000.00.

    This transaction results in RotoruaTrust Perpetual Capital Fund Limited holding 1,515,677 shares in Rural Equities Limited representing 4.05% of the shares on issue.

    RotoruaTrust Perpetual Capital Fund Limited beneficially holds these shares on behalf of the Rotorua Energy Charitable Trust.

  9. #9
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    RURAL EQUITIES LIMITED - Update

    Repurchase of shares

    The repurchase by the Company of 1,000,000 shares held on behalf of Rotorua Energy Charitable Trust, as detailed in a letter to shareholders dated 9 March 2012, was settled on 4 October 2012. The 1,000,000 shares were acquired for $3.27 per share and have now been cancelled. As a consequence of the transaction the Company now has 37,407,824 shares on issue.

    This follows the earlier repurchase of 1,725,000 shares held on behalf of Rotorua Energy Charitable Trust that was settled on 30 March 2012.

    Property portfolio

    Settlement of the sale of the Trust’s South Canterbury property Ernsdale was completed as scheduled on 1 October 2012.

  10. #10
    percy
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    Gee Whiz they'ave done it again!!!!!!
    Today's announcement that they are to buy back more shares at $3.55 and cancell them makes me happy that I brought some a few weeks ago.
    A buy/back cancellation is better than a bonus issue.NTA increases as fewer shares on issue.Boring old farm owning company is turning out exciting already.!!!!

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