Tasman Farms joins Unlisted

Tasman Farms joins Unlisted

Tasman Farms Limited today became the eighth Issuer on Unlisted. From Monday 1 March its shares will be available for trading via the Unlisted website (www.unlisted.co.nz).

Tasman Farms joins the seven 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, Rangatira Ltd, and the New Zealand Rural Property Trust. Ed Sullivan, Chairman of Tasman Farms, said, “We have been monitoring closely the options available to enable our shareholders to access a cost-effective trading platform for their securities.”

The former parent company of Tasman Farms, Tasman Agriculture Ltd, was put into voluntary liquidation on 31 October 2001. On 14 November 2001, shareholders received one share in Tasman Farms for every share held in Tasman Agriculture by way of an in specie distribution. As at 31 August 2003, the major shareholders of Tasman Farms were Dairy Holdings Ltd (41.50%) and Hirequip NZ Ltd (21.75%).

Tasman Farms is a New Zealand registered company. It has 23 large-scale dairy farms in north-west Tasmania currently in production, which milk approximately 14,800 dairy cows on 6,214 grazing hectares. Of these farms, eight have been operated from 1 July 2003 under Lower Order Sharefarming Agreements whereby Tasman Farms supplies the land, buildings and livestock, and the sharefarmer provides the labour, plant and machinery necessary to operate the farms. Fourteen are operated as managed farms where the farm manager may in some instances provide the plant and machinery, and one as a 50:50 operation where the sharefarmer provides the livestock.

Through its 87.5% interest in The Van Diemen's Land Company, Tasman Farms also operates a large-scale sheep, beef cow, dairy bull beef and dairy grazing unit comprising approximately 5,700 grazing hectares. All its operations are in Tasmania.

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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