New Zealand Rural Property Trust joins Unlisted

Thursday, 12 February 2004, 5:45 pm
Press Release: Unlisted

New Zealand Rural Property Trust today became the newest Unlisted Issuer. Its shares are now available for trading via the Unlisted website (www.unlisted.co.nz). New Zealand Rural Property Trust joins the six Issuers currently quoted on the Unlisted trading facility, Bridgecorp Holdings Ltd, Skyline Enterprises Ltd, Blue Sky Meats Ltd, Waipara Hills Wine Estates Ltd, INTAZ Ltd and Rangatira Ltd.

Christopher Russell, CEO of M-co New Zealand and spokesperson for Unlisted, said “we are pleased to welcome New Zealand Rural Property Trust to the growing number of New Zealand companies who have chosen to participate in Unlisted.”

The Trust’s Company Secretary James Wright said, “it was important to provide an alternative market easily accessible by brokers to replace the Trust’s listing on the second board of the New Zealand Exchange, which was cancelled last week”. New Zealand Rural Property Trust was established in 1987 and currently has 3,100 unit holders. The Trust has net assets of $104 million comprising a portfolio of 30 high quality farms throughout New Zealand, most of which are leased to third parties, and a mature forest at Ngaruawahia.

Unlisted also welcomes its fourth stockbroker, Hastings based Esam Cushing & Co. Unlisted allows small to medium sized New Zealand companies to facilitate the trading of their shares and to communicate with their shareholders, through a central, easilyaccessible, Internet-based trading facility. While not a registered stock exchange, for many companies Unlisted will act as a stepping-stone on the path to a registered exchange listing.

ENDS

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