Tandou increases pastoral holdings

17-Oct-2011 Monday, 17 October 2011


TANDOU INCREASES PASTORAL HOLDINGS

Directors are pleased to report the Company has executed unconditional contracts to purchase the neighbouring pastoral property “Willotia Station” for approximately $2.7 million.

Willotia is situated on the Darling River south of Menindee, NSW, with more than 40 kilometres of Darling River frontage, comprising 47,440 hectares. The property borders the existing Tandou Pastoral southern boundary and will expand the Company’s organic Dorper prime lamb operations, increasing total pastoral holdings including leasehold land to more than 180,000 hectares.

The purchase will be initially funded through Tandou’s existing bank debt facilities with anticipated settlement due mid-December 2011.

The Company is also well advanced with the investment of funds from the capital raising during May 2011, with further strategic acquisitions of water entitlements increasing total holdings to more than 46,000 megalitres.


On behalf of Directors


Guy Kingwill
CHIEF EXECUTIVE OFFICER/MANAGING DIRECTOR
PH. 03 5018 6500

TANDOU LIMITED
ABN 81 001 014 562

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