Sale of BESTON'S Dairy Farms for $40.4 million | ASX Market Update

  • Jun 11, 2020 AEST
  • Team Kalkine

Talking about Government’s recent announcement on the Early Childhood Education and Care Relief Package (CRP) and Transition arrangements. TNK has grown its workforce by 5% with most of the team getting back to its services to meet the growing demand for childcare. CRP ends on 12 July 2020 while Transition payment of 25% of the average of last two weeks’ revenue in February paid from 13 July to 27 September 2020. Jobkeeper for childcare operators ends on 19 July 2020 (one-week crossover).

Alliance Aviation Services Limited (ASX: AQZ) recently updated multiple prospective expansion opportunities. On that front, the company is undertaking an equity capital raising to raise A$91.9 million through fully underwritten institutional placement and further A$30 million through a non-underwritten share purchase plan.

Beston Global Food Company Limited (ASX: BFC) announced an agreement with Aurora Diaries for the sale of Beston’s dairy farms in Mount Gambier to Aurora for $40.4 million in cash. The Transaction secures 100% of milk supply from dairy farms for 10 years, with an option of extension, and Sale proceeds will reduce debt (to around 10% gearing). The fund Mozzarella and Lactoferrin production expansion Transaction is likely to conclude by 30 September 2020.

#AQZ #BFC #BestonDairy #Australia #Kalkine

 


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The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

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