In Nufarm’s ASX announcement, the company stated the entitlement offer will help to ensure Nufarm remains in a strong position and supports the continuation of the company’s growth strategy in light of recent market uncertainty.
Greg Hunt, Managing Director and CEO of Nufarm, commented: “A combination of severe drought conditions in Australia and later than normal selling seasons in other major markets resulted in higher levels of working capital and debt at the end of our 2018 financial year…it is appropriate that we take measures to de-risk the balance sheet in the short term.”
Nufarm Limited is one of the world's leading crop protection and specialist seeds companies. It produces products to help farmers protect their crops against damage caused by weeds, pests and disease.
ABL’s involvement in the deal was also covered by Australasian Lawyer.
Team: Jonathan Wenig (Partner), Jeremy Lanzer (Partner), Emma Ferguson (Lawyer), Jessica Spring (Lawyer), Luke Jedynak (Lawyer), Simone Gould (Lawyer), Anna Sandiford (Lawyer), Anthony Hadjiantoniou (Law Graduate), Michelle Ainsworth (Law Graduate) and Noah Lipshut (Paralegal).
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.