Rural Funds responds to short seller report

Company News

by Anna Napoli

Rural Funds (ASX:RFF) has provided a further response to a report published by Hong Kong-based Bucephalus Research.

Last Wednesday Rural Funds said the document’s criticisms were substantially similar to those made in the recent documents selectively released by short seller Bonitas.

Today, Rural Funds says that four key statements made by Bucephalus were false and misleading, including that “RFF’s unitholders… are inadvertently being drawn into a Ponzi scheme.”

Rural Funds has separately commenced proceedings against short seller Bonitas in the Supreme Court. It rejects the allegations made by Bucephalus, and urged investors to consider its rebuttal “corroborated by EY” and six years of audited accounts.

Shares in Rural Funds (ASX:RFF) are trading 4 per cent higher at $1.69 at 10.45am.

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