Project Profile - Northern Territory Government

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NORTHERN AUSTRALIA INVESTMENT OPPORTUNITY

Project Title:

Vendors:

Location:

Project Proponent:

Investment Amount:

Timeframes:

Industry sub-division:

Tipperary Group

Branir Pty Ltd & Tovehead Pty Ltd

Northern Territory

Flagstaff Partners

The Vendors are seeking expressions of interest for up to

100% of Tipperary Group

September – December 2015

Cattle production

Project Description:

The Tipperary Group consists of three pastoral landholdings: Tipperary station, Litchfield station and

Douglas West Station, covering an area of approximately 3,867 km 2 (386,701 ha or 955,558 acres) in the

Douglas Daly region of the Northern Territory, less than 200km south of Darwin.

An investor interested in the group could secure a significant supply of cattle to meet growing demand for beef in Asia and explore opportunities to develop pasture improvements and new crops, such as poppies

(currently undergoing trials), on the properties.

Tipperary Group has undergone significant strategic changes recently following the conclusion of a longterm agistment agreement, with the focus shifting from a breeding operation to a grower and backgrounding operation (grazing, fattening and selling) where the objective is to optimise weight gain and subsequent turnoff of livestock on the property to maximise returns from the asset.

Flagstaff Partners, on behalf of the vendors Branir Pty Ltd and Tovehead Pty Ltd, is seeking expressions of interest for up to 100% of Tipperary Group.

There is significant existing infrastructure, with 130 paddocks, 9 yards, commodity shed, over 170 permanent water points and several large scale machinery sheds. Tipperary’s cattle production system is centred on Brahman cattle, a tropical breed suited to Northern Australian conditions. Brahman are almost exclusively produced for export markets, with Indonesia, Vietnam, Brunei, Malaysia and China (following market access negotiations) identified by Flagstaff as potential export locations.

Recent regulatory changes in the Northern Territory make it possible for an investor to consider diversifying uses on pastoral landholdings. Tipperary Group has large tracts of good soil with extensive water resources which may make it suitable for high yielding new and emerging crops. Potential crops include Papaver somniferum poppies, Indian Sandalwood, cotton, soybeans, corn, chickpea and aromatic rice.

October 2015

- 2 -

Investment Timeframes:

Flagstaff Partners is an Australian independent corporate advisory firm representing the Vendors in relation to potential interest in Tipperary. Flagstaff intends to execute the process with indicative timing as follows:

September – October Release of Confidential Information Memorandum

November

December

Access to Q&A with management; Provision of transaction documents

Binding bids due mid-December (process letter to be provided)

Selection of preferred bidder & negotiation of binding transaction agreements

Financial close subsequent to execution of transaction agreements

.

Flagstaff requests that all enquiries in relation to the Tipperary Group are directed to their contacts below.

Further Location Details:

Indicative bids due early November

Second stage due diligence including Site visits; Management presentations;

The Northern Territory has a land mass of 1,350,000 square kilometres and a population of approximately 240,000. The capital city is Darwin and other major settlements in order of size include

Palmerston, Alice Springs, Katherine, Nhulunbuy, and Tennant

Creek.

The properties have relative proximity to the Port of Darwin,

Australia’s largest live animal export port, and year round access with sealed roads to the farm gate.

Tipperary Station

Located approximately 190km South-west of Darwin with access via the Daly River Road. The property also has a significant station accommodation and servicing complex and 2,000m sealed airstrip.

It is a breeding and finishing property.

Litchfield Station

Located approximately 240km southwest of Darwin along the Daly

River Road, the property has full station complex and black soil floodplains along Daly River.

Douglas West Station

Located approximately 150km South-west of Darwin with access from the Stuart Highway.

The Northern Territory offers unique investment opportunities for significant agribusiness growth within easy access to expanding

Asian markets and with the benefits of Australia’s clean and green reputation, stable and supportive government and innovative and competitive business environment.

Contact Details:

Lorraine Corowa - Director Major Economic Projects, Department of Primary Industry and Fisheries, Northern

Territory Government, E: Lorraine.Corowa@nt.gov.au, T: +61 8 8999 5363; Web: www.nt.gov.au/dpif

Flagstaff: Brett Mitsch - Direct: +61 3 9664 4580, Email: Brett.Mitsch@flagstaffpartners.com

Steve Hammerton - Direct: +61 3 9664 4560 , Email: Steve.Hammerton@flagstaffpartners.com

David Fidge - Direct: +61 3 9664 4533, Email: David.Fidge@flagstaffpartners.com

Disclaimer: This document includes information provided by third parties. The information is general in nature and is for information purposes only. No representation is made about the veracity or accuracy of information provided by third parties. You must rely on your own due diligence before proceeding. You should consider seeking independent professional advice.

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