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SELECT HARVESTS LIMITED — Capital/Financing Update 2015
Mar 5, 2015
65792_rns_2015-03-05_8d4e58f7-5e51-4e4d-9f49-d113ea7c31dc.pdf
Capital/Financing Update
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6[th] March 2015
Select Harvests Almond Orchard Expansion
In August 2014, Paul Thompson Managing Director of Select Harvests (SHV) announced the acquisition of 2 almond orchards, and the purchase of greenfield land suitable to support Select Harvests almond orchard expansion strategy.
The Company is evaluating a range of funding options to support the plant out of new almond orchard acreage on these properties, including sale and leaseback.
As part of this process Select Harvests announced today it is seeking expressions of interest from potential long term investors for the funding of approximately 5,000 acres (2,024 hectares) of greenfield almond orchards.
The funding structure is designed around a long term lease of these recently acquired almond orchards and associated greenfield development land. SHV will develop the orchards, take the operational & agricultural risk, process and market almonds.
Paul Thompson advised “Further updates will be provided as the process to secure funding develops. Select will continue to look at opportunities to purchase mature orchards and develop greenfield sites to increase shareholder value.”
PPB Advisory have been appointed to manage the process.
For further information, please contact:
Investors and Analysts
Paul Thompson, Managing Director +61 3 9474 3544 Paul Chambers, Chief Financial Officer +61 3 9474 3544 Andrew Angus, Investor Relations +61 402 823 757