Ernst & Young report in response to Bonitas Document
On 6 August 2019, Bonitas Research LLC (Bonitas) selectively released a document about the financial position of the Rural Funds Group (ASX: RFF) (Document). Rural Funds Management Limited (RFM), as responsible entity for RFF, released a response on 7 August 2019 rejecting claims made in the Document. Furthermore, RFM engaged Clayton Utz to instruct an expert to independently investigate the matters raised and assess RFM's rejection of each of the claims made in the Document.
The independent investigation conducted by EY concludes that the assertions contained within the Document are not substantiated. Further, EY have corroborated the response provided by RFM on 7 August 2019. The full report prepared by EY is attached.
RFM has instructed Clayton Utz to commence action against Bonitas Research LLC for its deliberate and malicious publication of the Document, which RFM contends constitutes misleading and deceptive conduct in Australia in respect of RFF securities.
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