CORPACT: ALF: Share Consolidation 08:30a.m. 
01/07/2019 08:30  
REL: 0830 HRS Allied Farmers Limited  
CORPACT: ALF: Share Consolidation  
1 July 2019  
Share Consolidation  
The Directors of Allied Farmers Limited (ALF) have resolved to consolidate  
the existing ordinary shares (Shares) on issue in ALF (Consolidation). Under  
the Consolidation, every 10 existing Shares held in ALF on 16 July 2019  
(Record Date) will be consolidated into 1 Share. As a result of the  
Consolidation the number of Shares on issue in ALF will be reduced from  
178,547,294 to approximately 17,854,729 Shares. Fractional entitlement to  
Shares which arise as a result of the Consolidation will be rounded to the  
nearest whole number of Shares (and a fractional entitlement to half a Share  
will be rounded up).  
Pre-Consolidation holdings in the same name will be aggregated for  
calculation of entitlements to post-Consolidation Shares. Where ALF considers  
that pre-Consolidation holdings have been split in order to take advantage of  
rounding, ALF reserves the right to aggregate holdings held by associated  
shareholders for the purposes of calculating entitlements to  
post-Consolidation Shares.  
The Consolidation will take effect from 5.00pm (New Zealand Time) on 16 July  
2019 and will be completed on the basis of ALF's register as at that date.  
All Shares held by shareholders on the register at that time will be  
consolidated on a 10 for 1 basis as described above. The precise number of  
Shares then on issue will be announced shortly after this date and  
shareholders will be issued with a revised holding statement.  
The expected timetable for the share consolidation is as follows:  
o Friday 12 July 2019 - Last day for trading in pre-consolidation shares on  
the NZX Main Board.  
o Monday 15 July 2019 - Ex-date for the consolidation. ALF's shares enter a  
three day trading halt from this date.  
o Tuesday 16 July 2019 - Record date for the consolidation.  
o Thursday 18 July 2019 - Commencement of trading in post-consolidation  
shares on the NZX Main Board  
Shareholders will receive a statement from ALF's Share Registrar, Link Market  
Services, a few days after the Consolidation notifying them of their  
shareholding. It is important to note that, while the Consolidation will  
reduce the number of Shares held by shareholders by a factor of 10, the  
Consolidation will not impact each shareholder's relative percentage  
shareholding in ALF. In addition, it is anticipated that the price at which  
Shares trade on the NZX immediately following the Consolidation will increase  
relative to the Consolidation ratio.  
Mark Benseman  
End CA:00336880 For:ALF Type:CORPACT Time:2019-07-01 08:30:35  

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