An unknown buyer entered into an agreement to acquire fresh processing assets and lease of the Manifold Street processing site in Camperdown Dairy from Australian Dairy Nutritionals Limited (ASX:AHF) for AUD 1.05 million on June 2, 2023. The purchase price is AUD 1.05 million and a deposit of AUD 0.05 million is payable today. If the sale does not proceed because a condition precedent is not satisfied the deposit will be repaid to the buyer. The transaction is subject to certain conditions precedent being satisfied on or before June 21, 2023, including the landlord?s consent to transfer of the lease to the buyer and further due diligence investigations in relation to the trade waste requirements for the buyer?s proposed dairy production. The sale is not conditional on the buyer obtaining finance to fund the purchase price. The transaction is expected to close on June 26, 2023. The proceeds of the sale will be applied towards ADNL?s general working capital requirements.

An unknown buyer completed the acquisition of fresh processing assets and lease of the Manifold Street processing site in Camperdown Dairy from Australian Dairy Nutritionals Limited (ASX:AHF) on June 29, 2023. Australian Dairy Nutritionals Limited (ASX:AHF) received the balance purchase price of AUD 1 million from the buyer and has transferred the lease of the Manifold Street site to the buyer effective today.