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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