Bonitas Research LLC (Bonitas) selectively released a document about the financial position of the Rural Funds Group (ASX: RFF) (Document).
The Document was published without any inquiry of RFF or Rural Funds Management Limited
(RFM). Notably, at the foot of page 1 of the Document, Bonitas states:
"We [Bonitas] have a short interest in RFF's stock and stand to realize significant gains in the event that the price of such instrument declines."
RFM rejects entirely the unfounded allegations of financial impropriety and irregularity contained in the Document and is obtaining legal advice in respect of those matters.
Notwithstanding, given the seriousness of the matters raised and the resultant adverse effect on the price of RFF securities, RFM has engaged Ernst & Young to independently investigate the
matters raised and assess RFM's rejection of each of the claims made in the Document as set out below.
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