ASX:KIL Plantation timber
Source KI community page
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kiland Limited (KIL) selects AAGIM Investment Management Pty Ltd as property manager for its Kangaroo Island agricultural estate
  • Subsidiary, Kangaroo Island Land Assets Limited, is entering the Property Management Agreement with AAGIM
  • AAGIM will develop a master plan for Kangaroo Island Land Assets Limited to be approved by Kiland
  • The master plan will include a multi-year operational plan and detailed funding requirements
  • Kiland Limited (KIL) last traded at $1.45 per share before market open on the 7th of January

Adelaide-based Kiland Limited (KIL) has selected AAGIM Investment Management Pty Ltd as property manager for its Kangaroo Island agricultural estate.

Kiland owns approximately 18,600 hectares of prime agricultural land on Kangaroo Island, which is reverting from forestry to agriculture.

Subsidiary, Kangaroo Island Land Assets Limited, is entering the Property Management Agreement with AAGIM, headed by CEO Marcus Elgin.

“We are pleased to be appointed Property Manager and look forward to leveraging our extensive transformational agriculture experience to develop Kangaroo Island Land Assets Limited’s portfolio of high rainfall, high production assets into an institutional grade estate,” said Mr Elgin.

AAGIM will develop a master plan for Kangaroo Island Land Assets Limited to be approved by Kiland. The master plan will include a multi-year operational plan and detailed funding requirements.

Kiland Executive Chairman James Davies said he looked forward to working with Mr Elgin and his team to develop a top tier institutional grade agricultural estate.

“The terms of the Property Management Agreement incentivise AAGIM and ensure alignment of interest with Kiland shareholders.”

AAGIM Investment Management Pty Ltd is a private account and direct investment manager focused on the Australian farmland sector.

Kiland also recently boosted its finances by $6 million after entering another subsidiary into a conditional sale agreement for its pontoon asset.

The agreement provides for the sale of the pontoon for net cash proceeds of US$4.3 million.

Kiland Limited (KIL) last traded at $1.45 per share before market open on the 7th of January.

More From The Market Herald

" Agrimin (ASX:AMN) completes site-based work programs for wet harvesting

Agrimin Limited (ASX:AMN) completes the preliminary test work to support a design for automated wet harvesting…
Wellard (WLD) -

" Wellard (ASX:WLD) successful in international arbitration

Wellard Limited (WLD) successfully resolved its arbitration proceedings against the Croatian Bank for Reconstruction and Development

" A fire at Select Harvest’s (ASX:SHV) Carina West site reported on Boxing Day

One of Australia's largest almond companies Select Harvest (ASX:SHV) reported a fire at its Carina West…

" Rural Funds Group (ASX:RFF) purchases property in Queensland

Rural Funds Group (RFF) announces contracts have been exchanged for a cattle and cropping property aggregation…