Lachlan Farming Limited (LFL)

Fund Overview
Share Prices
Distributions

 

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Fund Overview

LFL is an unlisted public company, which was previously involved in large-scale cotton farming in the Hillston district of central New South Wales. It was established in June 1998 and at that time was one of the largest agricultural developments in Australia.

LFL ceased farming operations in June 2008 and has sold down the majority of its land and water assets.  The Mooral and Yilgah properties were sold with LFL providing some vendor finance. This has been paid in full for the Mooral property, and payments for Yilgah are due by 20 December 2012 at the latest.

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Table 1: Expected timetable of payments to Shareholders
Repayment Period Total Payment Payment per share
July 2010 (Paid) $18,600,000 $0.5891
July 2011 (Paid) $4,500,000 $0.1425
January 2012 (paid) $1,500,000 $0.0475
December 2012 $3,500,000 $0.1108
Total $28,100,000 $0.8899

 

Table 2: LFL Shares and net assets
Lachlan Farming Limited as at 31 January 2011
Shares on Issue 31,571,118
Net Assets $3,589,636

Share Prices

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Distributions

Table 3: LFL Distribution History
Record Date
Reinvestment Date

Cash Payment Date
Distributions Paid
(per share)
Tax Deferred
Income
Franking Credit
Total
31/12/2011* Not Applicable 16/01/2012 $0.0475 $0.0434 $0.0041 To be advised $0.0475
0/07/2011* Not Applicable 04/07/2011 $0.1425 $0.1298 $0.0127 To be advised $0.1425
01/07/2010 Not Applicable 02/07/2010 $0.5891 $0.5127 $0.0764 $0.0053 $0.5944

* The franking of the income component will be determined at the end of the 2012 financial year to ensure the franking is maximised. Franking credits will be provided to shareholders in their September 2012 Tax Statements.

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