News Release
25 August 2008
MEAT INDUSTRY PARTNERSHIP
Silver Fern Farms and PGG Wrightson announce that they have signed the formal
documentation relating to the partnering proposal under which PGG Wrightson
will invest $220 million for a 50 percent shareholding in Silver Fern Farms.
The partnering proposal is now conditional only on Silver Fern Farms
Shareholder approval.
The Silver Fern Farms chairman, Eoin Garden, said that the notice of the
special meeting of Silver Fern Farms shareholders to be held in Dunedin on 8
September 2008, to approve the partnering proposal, together with
accompanying documents (including a full copy of the Independent Adviser''s
Report on the merits of the partnering proposal), has been sent to
shareholders. Copies of the notice of meeting and accompanying documents are
also available on Silver Fern Farms'' website - www.silverfernfarms.co.nz.
Silver Fern Farms and PGG Wrightson announced the proposal on 30 June 2008,
under which they would work together to lift the earnings of New Zealand meat
producers. The partnering creates an integrated supply chain "from plate to
pasture" - with every stage geared to meeting the needs of meat consumers
around the world.
Also released, is the Information Pack on the proposal for Silver Fern Farms
shareholders, providing material details of the proposal and the
documentation signed by Silver Fern Farms and PGG Wrightson.
Media enquiries can be forwarded to:
Barry Akers Brent Melville
Senescall Akers Group Communications, Silver Fern Farms
64 9 309 5656 64 3 474 6595
64 21 571 234 64 27 444 1322
End CA:00169070 For:SFF Type:GENERAL Time:2008-08-25:12:22:46