Allied Farmers sells livestock arm, names new CFO

Allied Farmers (NZX: ALF) is progressing with the conditional sale of its subsidiary, NZ Farmers Livestock Limited (NZFL), to Rural Livestock Ltd (RLL). The transaction, announced on August 28, 2025, is subject to shareholder approval at the company's annual meeting on November 6, 2025. Following the sale, Allied Farmers expects its cash reserves to increase by approximately $7 million, representing 67% of its NZFL shareholding, bringing total cash to around $14 million after working capital adjustments.

In anticipation of the NZFL sale, Allied Farmers has appointed Stephen Reid as its new chief financial officer, effective November 17, 2025. Stephen, a chartered accountant with over 20 years of experience in property and investment management, will replace Brian Lee. Brian, currently employed by NZ Farmers Livestock, will remain as CFO for NZFL, having previously provided CFO support to Allied Farmers.

The sale and CFO appointment are outlined in the company's annual meeting notice, which provides detailed explanations of the transaction's background, rationale, and financial implications. The documents can be accessed on NZX's website.