Rural Funds Management Limited (“RFM”), the responsible entity and manager of Rural Funds Group (“RFF”), is pleased to announce a $100 million equity raising via a fully underwritten 1 for 8.4 accelerated pro rata non-renounceable entitlement offer (“Equity Raising”). The purpose of the Equity Raising is to provide capital for:
• The development of 1,000 ha of macadamia orchards;
• The acquisition of cattle properties to be leased to corporate lessees; and
• The acquisition of up to 8,338 ML of water entitlements for $38.4 million1 (“Water Entitlements”) which are leased to a private farming company for five years.
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