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AGRICULTURAL LAND TRUST (ASX.AGJ)

ASX, Legal & CGT Status

SHARE PRICES

(updated at weekends)
Former (or subsequent) names
CompanyFROMTO
AGRICULTURAL LAND TRUST02/07/2008
WESTRALIA PROPERTY TRUST02/07/2008
Shareholder links
Our website ranking of AGJ: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare Adelaide
Level 5, 115 Grenfell Street, Adelaide SA 5000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 8 9473 2408 or 1300 534 987
RegistryWebsite RegistryEmail

Company details
Address: Level 16, Governor Macquarie Tower, 1 Farrer Place, Sydney NSW 2000
Tel:  +61 2 8277 0000 Fax: (08) 8425 6088

Date first listed: 10/04/2003

Sector: Real Estate
Industry Group: XFJ
Activities: Property Investment

Shareholders in this company should consider crystallising a capital loss in 2023/24 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

01/08/2023

delisted by ASX under Listing Rule 17.12

14/07/2022

we understand ASX removed the company from listing because its securities have been suspended from quotation for a continuous period of two years

14/07/2022

The fund will be removed from the Official List of the ASX at the commencement of trading on Thursday, 14 July 2022.

13/07/2022

The company releases its securities dealing policy.

06/04/2022

The company lodges its Appendix 4D and Half-Year Report.

28/02/2022

One Managed Investment Funds Limited (OMIFL) in its capacity as responsible entity of the Agricultural Land Trust ARSN 096 588 046 entity of the Agricultural Land Trust ARSN 096 588 046 (ASX : AGJ) (the Fund) advises that it has successfully completed the refinance of the Fund's $10 million secured loan and of the Series 5 and Series 8 debentures ($1.6 million). The new facility is fully drawn and has a facility limit of $13 million. The new facility has a term of three years. The Fund has also recently agreed terms to increase the facility limit on the unitholder loan from $1.8 million to $2.5 million.

31/01/2022

The company releases its Appendix 4G & Corporate Governance Statement 2021.

31/08/2021

The company lodges its Appendix 4E and Annual Report.

31/08/2021

One Managed Investment Funds Limited in its capacity as responsible entity of the Agricultural Land Trust advises that the Fund has entered into arrangements whereby, in exchange for the Cornerstone Bond Fund and the Cornerstone New SIV Bond Fund agreeing to release the Fund from all amounts outstanding under the debentures issued by the Fund and held by CBF and CNSBF the Fund will transfer to: CNSBF the receivables it is owed from ALT Sub-Trust No 4 and all of the units the Fund holds in ALT Sub-Trust No 4; and CBF, the receivables it is owed from ALT Sub-Trust No 5 and all of the units the Fund holds in ALT Sub-Trust No 5. As a result the Fund will no longer be entitled to earn any possible margin interest income from these arrangements, however the timing and amount of any such income is highly uncertain.

27/08/2021

One Managed Investment Funds Limited in its capacity as responsible entity of the Agricultural Land Trust advises that the independent valuation of Linkletters Place as at 30 June 2021 has placed an "˜as is' value on the property of $33.31 million (30 June 2020 $30.38 million) and "˜as if complete' (fully remediated) value on the property of $43.85 million (30 June 2020 $39.54 million). OMIFL also advises that harvesting of the plantation timber has also recently recommenced.

06/07/2021

ALT No 1 Trust, the trust which owns Linkletter's Place, has entered a lease over the existing cleared areas of the property, with further areas to be added to the leased area during the term of the lease as the existing timber assets are harvested. . ALT No 1 Trust has reached a settlement agreement with a previous prospective tenant for which proposed lease terms were unable to be agreed, which has facilitated the entry into the lease referred to above. It has been informed by SPF Resources Pty Ltd, the party engaged to harvest the timber assets, that they expect harvest activities to recommence in or around June 2021. Completion of the surrender agreement with the existing tenant of limited areas of the Property is expected to occur during the week commencing 19 April 2021.

16/04/2021

The company lodges its Appendix 4D and Half Year Accounts.

01/03/2021

One Managed Investment Funds Limited advises it has reached agreement with the tenant at Linkletter's Place for the tenant to surrender its lease. This lease is over a limited area of Linkletter's Place and provides no income to AGJ. The surrender will take effect in approximately three months and is expected to provide greater flexibility for AGJ to lease the harvested areas at Linkletter's Place and eventually these limited areas that were previously subject to that lease. OMIFL has reached agreement with the lender that is related to a major unitholder, to the AGJ to increase the facility limit to $1.65 million. This additional funding is expected to be used to fund the surrender and to also provide funding for operating costs while harvesting activities are paused.

01/02/2021

The company releases its Amended Constitution.

28/09/2020

The company releases the results of its meeting.

25/09/2020

The Trust will be holding its meeting at 2:00pm AEST on Friday, 25 September 2020 at Level 16, Governor Macquarie Tower, 1 Farrer Place, Sydney NSW 2000.

31/08/2020

One Managed Investment Funds Limited today announces its results for the year ended 30 June 2020. The release of the Fund's 30 June 2020 Annual Report ends the voluntary suspension requested by the Fund on 13 July 2020. The voluntary suspension was necessary to allow OMIFL to assess the implications of the receivership of iProsperity Underwriting Pty Ltd. The highlights are as follows: revenue from the sale of timber increased from $0.9 million to $1.5 million, despite the current pause in harvesting activities;an 11% increase in the value of Linkletter's Place to $39.6 million; the extension of its core debt by a further two years; and securing a two-year unsecured facility to assist with paying interest while harvesting activities at Linkletter's Place are paused.

31/08/2020

The company releases its Appendix 4G & Corporate Governance Statement 2020.

31/08/2020

The company lodges its Annual Report to unitholders for the year ended 30 June 2020.

31/08/2020

The company lodges its Appendix 4E - Financial Report - 30 June 2020.

31/08/2020

One Managed Investment Funds Limited has been informed that voluntary administrators have been appointed to iProsperity Underwriting Pty Ltd. This appointment is in addition to and does not displace the appointment by AGJ Group of a receiver to iProsperity Underwriting Pty Ltd. The responsible entity continues to seek information from IPU to better understand the implications for the Trust. AGJ is seeking to secure alternative sources of funding and to reduce expenditure where possible given the potential total loss of the margin income from IPU and the temporary loss of the timber harvest income.

17/07/2020

The securities of Agricultural Land Trust will be suspended from quotation immediately under Listing Rule 17.2, at the request of AGJ, pending the release of an announcement regarding the status of the receivership of iProsperity Underwriting Pty Limited and its implications for the financial status of AGJ.

13/07/2020

The suspension of trading in the securities of Agricultural Land Trust will be lifted from the commencement of trading on Monday, 9 March 2020 following the release by AGJ of an announcement regarding a change in circumstances which may impact on the 31 December 2019 interim financial report.

09/03/2020

One Managed Investment Funds Limited announces a change in circumstances which may have an impact on the Agricultural Land Trust's interim financial statements announced to the market on 2 March 2020. The interim financial statements announced to the market on 2 March 2020, were prepared on the basis that the full amount of interest payable as of 29 February 2020 had been paid by iPU to the Group for value on 2 March 2020. OMIFL relied on representations and evidence provided to it by iPU that the interest was to be paid to the Group for value on 2 March 2020. Contrary to these representations and evidence, the actual amount of interest received by the Group was substantially less. The ALT Group has advised iPU that it considers it is in default under the various loan agreements. OMIFL continues to seek information from iPU to allow it to determine the appropriate carrying values of the outstanding interest and the loans and to seek payment of the outstanding interest.

09/03/2020

The securities of Agricultural Land Trust will be suspended from quotation immediately under Listing Rule 17.2, at the request of AGJ, pending the release of an announcement regarding the finalisation of investigations in relation to the recently announced financial statements.

04/03/2020

name changed from Westralia Property Trust

02/07/2008
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    Directors' on-market share transactions (last 5)

     

    Click here for the last 20 transactions all companies

    Directors & Executives (current)
    NAMETITLEDATE OF APPT
    Michael SutherlandExecutive Director01/10/2019
    Frank TearleDirector04/07/2014
    Sarah WiesenerDirector26/10/2018
    Frank TearleCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)
    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Justin EpsteinChairman04/07/201401/10/2019
    Elizabeth ReddyDirector04/07/201426/10/2018
    Tom PascarellaChairman31/12/201204/07/2014
    Robert WalterNon Exec Director28/05/201004/07/2014
    Peter ZachertNon Exec Director02/07/200704/07/2014
    Ian WiggGeneral Manager01/11/200718/01/2013
    Maxwell OrmsbyDirector23/01/200931/12/2012
    Matthew EllisDirector09/06/200830/05/2010
    Tony DaviesDirector14/04/200506/09/2009
    Peter HallDirector14/04/200511/06/2008
    Leslie WozniczkaDirector14/04/200504/07/2007
    David HintonNon Exec Director17/07/200324/09/2006
    Brett L. JacksonManaging Director07/05/200116/04/2005
    Graeme GoffDirector08/04/200316/04/2005
    Raymond AndersenDirector08/04/200317/10/2004

    Date of first appointment, title may have changed.