Australian Food & Fibre – Western Lands Lease Conversion

WA-40026

Bengerang Pty Ltd (**Bengerang**) proposes to acquire freehold interests in agricultural land that it currently already holds under the perpetual Western Lands Leases (the **Acquisition**). Bengerang is part of an incorporated joint venture and operates as part of the Australian Food & Fibre (**AFF**) business. AFF's principal activities include the growing, ginning, warehousing, classing and marketing of cotton, as well as growing and marketing other agricultural products. The vendor of the target land is the NSW Government, which currently owns the freehold interests in the relevant land parcels. The land parcels are located in Bourke, New South Wales, and are presently leased to Bengerang under the Western Lands Leases. Bengerang grows and supplies cotton and other agricultural products on the target land. The Acquisition involves the conversion of Bengerang’s existing leasehold interests into freehold ownership, in accordance with NSW legislation permitting holders of the Western Lands Leases to purchase the freehold interest in the leased land.